The millennials are a smart lot. Luckily, it’s not just technology they are upgraded with; they are also smart when it comes to putting their monies. While many had savings and invested money in chits, they are now choosing to invest money in real estate.
The pandemic has thrown open a lot of questions for humanity, and the new-age employees feel it is an ideal time to invest in property as realty could become unaffordable in coming years. Already, the cost of construction and the cost of properties had increased, following the little window when the prices were affordable during the pandemic.
Many are investing in 3BHK apartments as they feel they now need bigger spaces as most of them are working from home. With both the spouses working, they feel it is a sensible investment. Youngsters in the IT industry, pharma, electronics, health, and other key sectors are investing in flats, independent houses, and plots.
While the millennials are mostly into apartments, the middle-aged buyers are looking for plots as the prices would appreciate in years to come. According to CREDAI general secretary Rajasekhar Reddy, several banks are providing housing loans up to 80 to 90 percent, based on salaries, and this is helping the youngsters to invest.
Also, the millennials are clever enough to buy houses that come relatively cheaply and are closer to amenities like schools, hospitals, workplaces, bus stops, and railway stations.