What makes millennials want to invest in Properties in Thane?

While the global pandemic is already in its second wave, the Properties in Thane industry is gearing up to battle its influence on the market once more. The impact of the nationwide lockdown, on the other hand, caused many to reassess their Properties in Thane decisions. As the markets began to recover from the upheaval, a new wave of millennial homebuyers emerged, realising the value of having a stable existence through buying a property.

According to a recent CII poll, demand for branded developers is continuing to climb, and millennials aged 25-35 years are the largest group of people who favour Properties in Thane as an asset class, up from 17% before Covid-19.

This clearly indicates that, even in the second year of the epidemic, millennials are the new generation of homebuyers, and this tendency is expected to continue in the future. The non-volatility, capital appreciation, and long-term security of a property are now considered value propositions.

The following are some of the primary reasons why millennials are the new generation of home purchasers and why they are drawn to Properties in Thane even in the twenty-first century:

Security and safety:

Because of the security it provided during the epidemic in 2020, buying a home rather than renting one proved to be a safer alternative. During the epidemic, most people who lived in rental homes experienced a variety of problems and were not as safe as those who owned homes. For years, people have decided to spend their hard-earned money in the stock market in order to gain a profit.

According to the same survey, around 57 percent of respondents now prefer Properties in Thane to gold, stocks, and fixed deposits. People, particularly millennials, are reconsidering their decision and changing their assets to the Properties in Thane market due to the stock market's unpredictability and instability.

Government support and house affordability: Since the shutdown, the government has showed its strong support for the Properties in Thane sector by promoting it through various measures. The Finance Minister's intention to extend the deadline for home loans in the affordable housing category until March 31, 2022 was a bold gesture toward the Government's goal of "Housing for All" by 2022.

Culture of working from home:

Because most offices have adopted the hybrid working style, the Covid-19 outbreak sparked a work-from-home culture. However, most businesses will continue to require their staff to work from home for longer periods of time due to the virus's unknowns. As a result, demand for homes has increased, as millennials desire multi-functional areas to ensure comfort when working from home.

NRI home buyers are returning:

According to leading study studies, of the total 24 percent of people who had recently booked property, 38 percent were NRIs, and 4% of them were between the ages of 35 and 45. According to the survey, 63 percent of NRIs believe that a ‘sense of security' connected with tangible assets is the most important element in deciding to buy a home in India. The impact of the lockdown surely boosted Properties in Thane's repute in India.

Many NRIs who were hampered by the lockdown decided to reinvest in their home country. This was mostly due to the investment security as well as the benefits of capital appreciation and a low rupee value. In addition, many NRIs began buying homes for their elderly parents in order to secure their safety and protection throughout the pandemic.

Finally, while the pandemic brought the economy to a halt, it also ushered in a slew of favourable Properties in Thane trends. We are optimistic that the sector will rebound from its setback, especially as millennials become the new generation of home buyers.