Why Indian millennials are spending more on fully managed rental accommodations
Updated On: 29 May, 2023 11:51 AM IST | New Delhi | IANS
A recent survey published by Economics Times revealed that over 50 per cent of Indian millennials are willing to spend more than 25 per cent of their income on fully managed rental accommodations to ensure a hassle-free lifestyle
Listen to this article :
Image for representational purposes only. Photo Courtesy: iStock
Gone are the days when real estate was solely a topic of interest for our parents and grandparents. Millennials have entered the scene and changed the ways of the real estate industry for good. Defined as people born between 1983 and 1996, millennials in India account for 34 percent (440 million) of the country`s total population.
A recent survey published by Economics Times revealed that over 50 per cent of Indian millennials are willing to spend more than 25 per cent of their income on fully managed rental accommodations to ensure a hassle-free lifestyle. However, this shift of the newer generation towards rental properties did not occur overnight. The growing demand for rental properties in India can be attributed to urbanisation, population growth, and evolving lifestyles. In addition, the pandemic has also accelerated this trend, with remote and hybrid work arrangements allowing ease of working from any corner of the world and creating a demand for spacious, comfortable living spaces.
Read Next Story
Trending Stories
Latest Photos
Latest Videos
Latest Web Stories
ADVERTISEMENT
Mid-Day Fast
ADVERTISEMENT
ADVERTISEMENT