The future of the residential real estate
Millennials will the future of the real estate market in the coming years. Yes, you read it right, millennials are continuing to influence the property market and remain to be one of the important singles in the homebuyer segment. Who are millennials? Millennials are a very trendy word that is often buzzing around social media and also in conversations. Millennials are a group of the population segment born between 1981 and 1996. India is a country with young people (millennials) constituting as much as 34% of the population. This makes the millennials the single largest generation in India.
With this data, the real estate, especially the residential sector will be dominated by the millennials. If you must have noticed the offset of the pandemic has led to an increase in the sales of residential houses.
Many of them believed this peak in sales in due to the Work From Home setup and this trend may slowly dissolve. But it turns out the trend is still going in full-fledged. This is just not happening because of the pandemic but millennials are in their peak years of investing in a home. But the undeniable fact is that the pandemic was a turning point for many industries. While many industries suffered few sectors boomed and one among them is the real estate sector. The consecutive lockdowns created a sense of insecurity and panic. The need for safeguarding themselves and their family was a priority and this not only included health but also residential security. The millennials started investing in the real estate sector. This resulted in one of the few advantages of work from home culture.
As we know our country, especially Bangalore is filled with IT companies and Software Engineers. Many companies insist that employees follow the Work From Home Module even after the pandemic. This culture of work from home has come to stay. Remote working has added a lot of convenience to people’s life. People now prefer to invest in homes away from the city, yet in the heart of the city. They are moving to less costly peripheral locations surrounded by green lush.
The three major things millennials are looking for in a residential home are:
1. Quality of Life:
Millennials prioritize the quality of life, and a home is a place that serves as a place to improve the standard of living. They want the best homes that take care of themselves and their family.
2. Stable Investment:
Stock Market and mutual funds involve high risk whereas the real estate market is stable and guarantees high returns in the future. Thus, millennials are investing more in residential homes.
3. Spacious and luxurious homes:
As mentioned earlier the stepping of the work-from-home culture has increased the demand for spacious and premium Villas in Bangalore has increased. People are also looking out for Villa plots in Bangalore, so they can design their homes spaciously and according to their convenience.
If you too are looking out for a home that can give you everything you want then we got you covered. Bluejay is one of the best real estate developers in Bangalore that has made more than 10,000 customers happy with their fine projects. They have Luxury Villas in Bangalore for sale and also plots in South Bangalore. You can either own one of the luxury houses in Bangalore or buy a dream plot and build your dream home just the way you like. Own your dream home from the best developers in Bangalore.
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