Now Reading: Millennials and Gen Z change India’s home buying trends
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Millennials and Gen Z change India’s home buying trends
Home buyers in India are now prioritising location, lifestyle and infrastructure over just the price of a property. According to a study by BASIC Home Loan covering over 7,400 home buyers, Millennials…
Home buyers in India are now prioritising location, lifestyle and infrastructure over just the price of a property. According to a study by BASIC Home Loan covering over 7,400 home buyers, Millennials and Gen Z account for 90-95% of buyers. These buyers are willing to pay more for a better location, shorter commute and good amenities.
Buyers are now visiting neighbourhoods at different times of day to check commute time, traffic and public transport. The monsoon season has become a test to check waterlogging, drainage and road conditions. Climate risks such as floods, heatwaves and water scarcity are also influencing decisions about a property's long-term viability.
A World Bank 2025 report cited in the article estimates that 70% of new jobs in India by 2030 will come from cities. Urban population could reach 951 million by 2050, and over 144 million new homes may be needed by 2070. The value of a neighbourhood will increasingly depend on water availability, green spaces, drainage and public transport.
Indian Opinion Analysis
This shift in buyer preference has real consequences for developers and banks. For builders, location and infrastructure quality are becoming as important as unit size. Lenders like HDFC and SBI have already begun factoring in neighbourhood livability in loan assessments. The demand for integrated townships with schools, hospitals and parks is likely to rise. Watch for how property valuations in peripheral areas adjust once monsoon flooding data becomes routinely checked by buyers.
Source: aajtak.in
This story was synthesised by AI from the source linked above.
