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The future of the residential real estate

Millennials will have the future of the real estate market in the coming years. Yes, you read it right, millennials are influencing the property market and will continue to be one of the important singles in the homebuyer segment. As a catch-all term, Millennials are people who came of age or began having an impact on the world in the early part of the twenty-first century. Millennials are a population segment born between 1981 and 1996 and represent a total of 34% of the population in India. As a result, the millennial generation is the largest generation in India.

Given this data, the residential housing market, especially real estate is primarily made up of millennials. Because the aftermath of the pandemic brought an increase in residential house sales.

The future of the residential real estate

Several people thought this peak in sales was due to Work From Home setup and this trend would disappear. But it turns out the trend is still going strong. Because of the pandemic, millennials are not investing in a home, but the fact remains that many industries were impacted by the epidemic. There were a few industries that prospered, and one of them is the real estate sector. The consecutive lockdowns created a sense of insecurity and panic. Millennials started investing in real estate as a way to help safeguard themselves and their families, including protecting their health and security at home. This was one of the few benefits of the work from home culture.

Given that our country has a fair share of IT companies and software engineers, a great number of them demand their employees participate in the work from home module, even after the pandemic. It seems that this trend of remote working has taken root and is here to stay. With remote working, life has become more convenient for people. People now prefer to invest in homes outside of the city, but with urban areas close-by. It's more affordable, plus you're still close to the center of town.

The three major things millennials are looking for in a residential home are:

Quality of Life:

To a millennial, the most important thing is to prioritize their quality of life. A home should be a place that allows for one to enhance their living standards. They want to own homes that maintain their quality by managing themselves and their family.

Stable Investment:

Millennials are invested in housing properties in the real estate market instead of stock markets or mutual funds because residential homes come with greater stability and high rates of return.

Spacious and luxurious homes:

The work-at-home movement has increased demand for spacious and premium Bangalore villas. Moreover, people are also interested in Villa plots in Bangalore, so they can design their homes spaciously and according to their preferences. Prestige group is one of the top developers in Bangalore with a portfolio of 10,000 satisfied customers. They have a luxury villa in Bangalore and also plot in Bangalore, either to own one of the luxury houses in Bangalore or to buy a piece of land and to build your home just the way you like. Buy your dream home from the best builders in Bangalore. More info visit Prestige Park Grove

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