Accounting for nearly half the population of the nation, millennials are changing the market dynamics, including the real estate sector. The term “millennial” refers to the people born between 1980 and 2000. Given the importance of buying a home, markets have behooved to give the millennials what they want. Well-read and well-researched on the current market trends, millennials do not hesitate to trade -in and trade- up to better investment opportunities with better amenities. They are not only well-versed with the prominence of making a stable long-term investment but also the requirement to begin early.
Factors such as urban connectivity, proximity to basic amenities, liberal neighbourhoods and public infrastructure are the main sources of motivation for the millennials. Asif Yusuf Balwa CFO DB Realty, takes all such factors into account while developing DB Group projects. It has been found by the National Research Association that out of all the purchases made recently, 34% accounted to consumers aged 36 and younger. The average age of an Indian home buyer is expected to be 29 years by the year 2022. Millennials prefer their home search online and are willing to take it a step further. They are rolling out speedy online mortgage applications, virtual reality tours, and live streaming open houses. It has also been identified that investment is the key driver for buying a property for them. The average age of an Indian home buyer is expected to be 29 years by the year 2022.
Let’s delve into the most important question- what drives millennials to consider real estate as an important investment?
- Uncertainties– The smart millennials are very well-aware of the uncertainties that can be encountered in case of an economic downturn. Although they lead a comfortable and lavish lifestyle, they are equally focused on investing and saving.
- Tech-Savvy– Millennials belong to a generation that grew up with smartphones and devices. They don’t miss any opportunity to use the same to their advantage. From making well-researched and informed decisions to keeping up with the latest developments, millennials definitely know how to make optimal use of digital platforms.
- Security– Securing the future is what most people have in mind while investing in real-estate. Moreover, instead of paying rent, it’s always better to utilize the same for home ownership via EMIs. The millennials are aware of this and therefore consider it as a profitable venture.
- Post Retirement Plans– Millennials prefer to retire early to pursue hobbies and devote more time to their families. They consider property investment as an opportunity to fulfill this dream and achieve a stable life after retirement.
Looking for Asif Yusuf Balwa latest news would give you a glimpse of a person who aims to open up big opportunities for developers and millennials to make a wise decision.