Source: BT Money Today ( http://bit.ly/3SO5cqH )

Millennials are the power segment when it comes to home-purchase and reports confirm how over the next few years, they will be among the top buyers of houses in India. Experts suggest that the following generation or Gen Z too will be investing in property. In fact, a global survey conducted by real estate experts CBRE released this week shows that 44 per cent of young Indians are keen on buying a house in the next two years – which is a much higher percentage than the rest of the globe. Three main factors are responsible for driving this trend:

Increased affordability among young professionals
With the development of affordable housing projects, many millennials are able to purchase homes at relatively lower prices than what was available in the past. Additionally, a surge in housing development all across the country over the last decade has made house-buying a strong investment option for this age group. The trend has become even more pronounced in the post-pandemic period.

Easy home loan facilities
Attractive home loan schemes with low-interest rates and long repayment tenures with flexible payment options are making it easy for millennials to purchase a house. This has led to a significant slide in renting trends while pushing house-buying.

Changing lifestyle preferences
Homeownership has gained priority over expenses like travel or entertainment especially during the pandemic as increasingly people seek stability and security. A combination of these factors has made it easy for millennials to become homebuyers, and this is expected to continue in the years to come.