In India, millennials constitute up to 34% of the country’s population, making them the largest single generation in the country. As a category that has abstained from making real estate investments for several years, the market takes notice when this purchase behaviour changes. While COVID 19 was a major driver in this change, it also has to do with them recognising the importance of owning a house and calling it home.
As demand for flexible working takes momentum, owning a house became all the more important. The previously desired city-centric locales no longer seem to attract this segment. Many millennials are now eyeing the exurbs of cities to lead a peaceful life, one that is closer to nature. Meanwhile, top residential builders in Bangalore have been churning out housing supplies aimed at meeting this demand.
As the preference for world-class amenities increases, Luxury apartments in Bangalore for sale are in great demand. Another aspect that this demographic looks for are smart home features. The tech-savvy populace now looks for comfort and convenience in digitally enabled homes and some of the best apartment builders in Bangalore have incorporated the best of technology to make residents’ lives easier.
Moreover, as a stable investment, millennials are willing to purchase homes that offer them a better quality of life. This would include homes with great views, better social infrastructure, and connectivity. Therefore, upcoming luxury residential projects in Bangalore lay a greater emphasis on being located in areas with better connectivity and civic amenities.
Therefore, all the above improvements have contributed to the emergence of millennials as the new home owners in India.