MEDIA COVERAGE
April 19, 2023
Space, Ownership, and WFH: Millennials to Play a Key Role In The Prospects of India’s Real Estate Sector!
Mr Rakesh Reddy, Director , Featured Article on Construction Week Online
A substantial portion of India’s economic growth is being driven by millennials. The millennial generation has significantly influenced important areas of the economy, making up roughly 50% of the labor force and an astounding 70% of national family income.
The residential market in India is currently changing, partly as a result of the changing interests and behaviors of the millennial generation. Home ownership is currently seen by millennials as having a strong value proposition that is characterized by security, stability, and capital growth. The demand for real estate among millennials surged dramatically in 2022 compared to the prior decade, which was evidence of this trend.
Space is one of the main deciding criteria for millennial homebuyers. The conventional line separating work and home life has gotten blurrier since the introduction of WFH. Because of this, millennial workers are being forced to turn their homes into usable workspaces. Due to this, there is an increase in demand for homes with enough space for a separate home office. Millennial homebuyers have a renewed interest in the market because of better regulatory policies, simple financing, and a wide range of possibilities.
Our Director Mr. Rakesh Reddy has elaborated more on this in the Construction Week Online Magazine. Click on the link to know more about the changing dynamics of homebuyers.
