Indian real estate is currently witnessing one of its most dynamic phases, with 67% of Indians looking to buy a home in 2024. This shift is driven by a new breed of well-informed buyers and investors who are expected to dictate the market landscape over the next 5-10 years. Notably, there is a significant rise in young buyers, particularly those aged 28-40, who are making their mark on the property market with increasing enthusiasm.
NoBroker has reported a 23% increase in the number of buyers under the age of 35. Overall, buyers under 45 constitute 57% of the platform’s total buyers. This demographic is characterized by its aspirations for a comfortable lifestyle, international travel, luxury cars, and high-end gadgets, often choosing to buy a home soon after marriage or during their mid-30s to early 40s.
What are Industry Experts Opinion?
Gaurav K Singh, Founder & Chairman, Womeki Group
“India’s real estate landscape is set for a significant transformation, with the majority of the population planning to invest in homeownership. This surge in interest is notably driven by millennials, who are rapidly becoming the dominant force in the housing market in Delhi NCR. Unlike previous generations, millennials are not just seeking homes; they are looking for spaces that reflect their aspirations, lifestyle, and values. Their preferences are shaping the demand for modern amenities, sustainable living, and smart technology in residential properties. This shift is a testament to the growing financial independence and confidence among millennials, who are increasingly prioritizing long-term investments like real estate. The economic stability of this demographic, combined with favorable market conditions such as lower interest rates and government incentives, is creating a fertile ground for the real estate sector to thrive. As millennials take the lead, the Indian real estate market is poised for dynamic growth, reflecting the changing aspirations and economic power of a new generation of homebuyers.”
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