






{"id":30456,"date":"2022-08-25T12:20:51","date_gmt":"2022-08-25T05:20:51","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=30456"},"modified":"2025-02-06T11:46:11","modified_gmt":"2025-02-06T04:46:11","slug":"retail-therapy-indian-millennials-are-on-a-home-buying-spree","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/retail-therapy-indian-millennials-are-on-a-home-buying-spree\/","title":{"rendered":"Retail therapy: Indian Millennials on a homebuying spree"},"content":{"rendered":"<p><span class=\"TextRun SCXW183224648 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW183224648 BCX0\">Hyderabad recorded the most property seekers in this age bracket, followed by Pune<\/span><\/span><\/p>\n<figure id=\"attachment_30457\" aria-describedby=\"caption-attachment-30457\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-30457 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_1557577961.jpg\" alt=\"\" width=\"1000\" height=\"668\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_1557577961.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_1557577961-400x267.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_1557577961-600x401.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_1557577961-768x513.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-30457\" class=\"wp-caption-text\">More than 65 percent of those aged between 25 to 35 years intend to invest in a home for end-use. DonenkoOleksii\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">In India, <\/span><a href=\"https:\/\/gulfnews.com\/world\/asia\/india\/millennials-driving-real-estate-demand-in-india-1.1660460123608\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Gulf News<\/span><\/a><span data-contrast=\"auto\"> reported that Millennials\u00a0have been snapping up homes as the pandemic altered their views, luring them into obtaining a more secure physical asset as opposed to higher-risk investments.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This generation, <\/span><span data-contrast=\"none\">aged between 26 to 41 who are <\/span><span data-contrast=\"auto\">in the midst of an uncertain market, has started to abandon the \u2018carpe diem\u2019 mindset, driving the housing demand across the country by opting to purchase than rent.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Property consulting firm Anarock, which conducted a survey involving 5,210 participants, uncovered that 57 percent were more inclined to invest in real estate in the coming years, whereas 43 percent preferred to invest in other assets, such as gold, stock markets, or fixed deposits.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Yet despite their major preference, the latter admitted that real estate, whether directly or indirectly, is a component of their future investment schemes, with 31 percent planning to use their present investment gains to purchase a home in the future.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/the-redemption-of-indias-residential-and-commercial-real-estate\/\" target=\"_blank\" rel=\"noopener\"><strong>More: The redemption of India\u2019s residential and commercial real estate<\/strong><\/a><\/p>\n<p><span data-contrast=\"auto\">Out of all respondents, the firm found that no less than 53 percent of Millennials would buy real estate using their capital gains. Yet the most crucial finding is that more than 65 percent of those aged between 25 to 35 intend to invest in a home not for more capital gains, but for end-use.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In 2019, Anarock conducted a similar survey and observed that only 20 percent of the same age group considered purchasing a home, revealing that the pandemic has unlocked a new wave of homebuyers.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">To understand this generation\u2019s impact, residential sales across the country skyrocketed, with 78,627 units procured from January to March this year, according to the latest <\/span><a href=\"https:\/\/www.knightfrank.com\/research\/report-library\/india-real-estate-residential-and-office-market-h1-2022-9150.aspx\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Knight Frank<\/span><\/a> <span data-contrast=\"auto\">report.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In the second quarter, <\/span><a href=\"https:\/\/timesofoman.com\/article\/120133-residential-real-estate-prices-in-india-rise-5-pc-during-april-june-quarter-report\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Times of Oman<\/span><\/a><span data-contrast=\"auto\"> said the growing demand led to a price increase averaging five percent across eight major cities, including Ahmedabad, Bengaluru, Chennai, Delhi (NCR), Hyderabad, Kolkata, and Pune.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Among these cities, Hyderabad recorded the most property seekers in this age bracket, followed by Pune.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/video-around-the-table-with-the-judges-india-sri-lanka\/\" target=\"_blank\" rel=\"noopener\"><strong>More: [Video] Around the Table with the Judges: India &amp; Sri Lanka<\/strong><\/a><\/p>\n<p><span data-contrast=\"auto\">&#8220;Rising homeownership amongst millennials supported by higher disposable income and willingness to upgrade to larger spaces equipped with better amenities have sparked a sharp growth in housing demand in the last few quarters,&#8221; stated Harsh Vardhan Patodia, president of the Confederation of Real Estate Developers&#8217; Associations of India (CREDAI).<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Sunteck Realty Ltd, a major recipient at the 2<\/span><span data-contrast=\"auto\">nd <\/span><span data-contrast=\"auto\">annual <\/span><a href=\"https:\/\/www.asiapropertyawards.com\/en\/2021-propertyguru-asia-property-awards-india-give-honour-to-mumbais-finest-real-estate\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">PropertyGuru Asia Property Awards (India),<\/span><\/a><span data-contrast=\"auto\"> was among the residential developers who have been catering to this growing demand by tapping into their individual needs, from gathering demands <\/span><a href=\"https:\/\/youtu.be\/qJMsTTcY3pA\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">straight from the source<\/span><\/a><span data-contrast=\"auto\"> to <\/span><a href=\"https:\/\/youtu.be\/V8O3_PQV8Zk\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">empathising<\/span><\/a><span data-contrast=\"auto\"> with them.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Thus, with the emergence of this investment generation and a thriving real estate sector, local government think tank <\/span><a href=\"https:\/\/www.niti.gov.in\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">NITI Aayog<\/span><\/a><span data-contrast=\"auto\"> believes that the industry will achieve USD1 trillion by 2030 and will make up 13 percent of the country&#8217;s total GDP by 2025.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><i><span data-contrast=\"none\">To find out who will nab the prestigious titles at the local ceremony and represent their country at the Grand Final, visit\u00a0<\/span><\/i><\/b><a href=\"https:\/\/www.asiapropertyawards.com\/en\/award\/india\/\" target=\"_blank\" rel=\"noopener\"><b><i><span data-contrast=\"none\">AsiaPropertyAwards.com\/Award\/India\/<\/span><\/i><\/b><\/a><b><i><span data-contrast=\"none\">.<\/span><\/i><\/b><span data-contrast=\"none\">\u00a0\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:270}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"none\">Gynen Kyra Toriano, Digital Content Manager at PropertyGuru, wrote this article. For more information, email:\u00a0<\/span><\/i><a href=\"mailto:gynen@propertyguru.com\" target=\"_blank\" rel=\"noopener\"><i><span data-contrast=\"none\">gynen@propertyguru.com<\/span><\/i><\/a><i><span data-contrast=\"none\">.<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:270}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hyderabad recorded the most property seekers in this age bracket, followed by Pune<\/p>\n","protected":false},"author":9,"featured_media":30457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[101,92],"tags":[973,216,935,295,512],"class_list":["post-30456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-property-awards","category-news","tag-homebuyers","tag-india","tag-investors","tag-millennials","tag-residential","news_country-india","news_author-gynen-kyra-toriano"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Retail therapy: Indian Millennials on a homebuying spree | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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