PropTechBuzz’s Post

By 2030, Millennials and Gen Z to Dominate New Home Purchases in India: JLL Report India’s residential real estate market is undergoing a transformative phase, with Millennials and Generation Z projected to account for 60% of new homebuyers by 2030, according to a year-end market report by JLL India, a global real estate services firm. https://lnkd.in/gdjft9D4 #jllreport #genz #millennials

Millennials, Gen Z To Drive 60% Of Home Sales By 2030 Read More: https://lnkd.in/dppDRw5H #RPNewsletter #Millennials #GenZ #HomeSales #RealEstateTrends #FutureOfHousing #RealEstateMarket #HousingDemand #HomeBuyers #PropertyInvestment #RealtyPlus

Exploring the New Era of Housing: A Deep Dive into Why Renting is the New Buying for Younger Generations 🏡 As we navigate a world of rapid economic changes and evolving lifestyle preferences, the concept of 'home' is being redefined by millennials and Gen Z. Join me in a thought-provoking exploration of why these generations are choosing to rent rather than buy, and how this shift is reshaping the housing market. 🔗 [Read the full article](https://lnkd.in/eFSnB55U) and let's start a conversation on what this means for the future of real estate. Share your thoughts and experiences in the comments below! 💬 Are you a renter by choice, or do you aspire to own a home? What factors influence your decision? Let's discuss the pros and cons and learn from each other's perspectives. 👥 Follow me for more insights on real estate trends, and don't forget to like and share this post with your network to keep the dialogue going! #RealEstate #HousingMarket #Millennials #GenZ #RentVsBuy

🏠 How Proptech Can Address the Needs of Millennial Homebuyers 🏠 When we do research for the Discovery stage, we delve into each industry to validate the client's idea and discover the market potential. We intend to offer a commercially successful software solution covering the target audience's needs. Today, let's examine the case of millennials facing challenges in the housing market.  🔍 Understanding the Challenge: The largest generation, millennials, are encountering obstacles in homeownership due to economic downturns, stagnating earnings, and rising property prices. Affordability remains a pressing concern, with many millennials resorting to renting instead of owning. 💡 The Solution - Proptech: Proptech, or property technology, presents innovative solutions to bridge this gap. At LaSoft, we offer brilliant ideas that are game-changers.  🌍 European Real Estate Landscape: Across Western Europe vs. the USA, millennials exhibit varying trends in homeownership preferences. For instance, in Germany, 73% of individuals aged 18–39 favor renting, while in the UK, staying with parents is common due to housing affordability concerns. In the US, almost 50% still prefer to rent.  🌟 Proptech - Transforming Real Estate 🌟 At LaSoft, we're committed to driving positive change in the real estate market. Our Proptech solutions aim to empower millennials, revolutionize market dynamics, and pave the way for accessible homeownership. We encourage you to read our blog article. https://lnkd.in/df-hY3aT  #Proptech #MillennialHomebuyers #RealEstateRevolution

The Future of Real Estate: Millennials and Gen Z to Dominate Home Buying by 2030 As we approach 2030, the global real estate market is gearing up for a generational shift, with Millennials and Gen Z poised to represent 60% of new homebuyers. In India, this trend is particularly significant, as these tech-savvy, value-driven generations reshape the property market with their unique preferences and priorities. The New Wave of Homeownership Millennials, born between 1981 and 1996, and Gen Z, born after 1996, are no strangers to challenges. Having navigated economic uncertainties, pandemic disruptions, and rapid technological change, their approach to home buying is informed by a desire for stability, sustainability, and convenience. Unlike their predecessors, Millennials and Gen Z are not just buying homes—they are investing in lifestyles. They seek properties that align with their values, offering a mix of functionality, community, and advanced amenities. Real estate developers in India are already responding to this trend by incorporating features like smart home technology, energy-efficient designs, and proximity to work hubs into their projects. Key Drivers of the Shift Urbanization and Connectivity: With India’s urbanization rate projected to rise, younger buyers are flocking to cities like Bengaluru, Pune, and Hyderabad. These cities offer robust job markets, superior infrastructure, and tech-driven ecosystems that appeal to Millennial and Gen Z sensibilities. Technology in Real Estate: Digital platforms are revolutionizing how homes are bought and sold. Virtual property tours, AI-powered recommendations, and blockchain-based transactions are making the process seamless and transparent—just what these tech-savvy generations demand. Sustainability Matters: Environmental consciousness is a key priority for these generations. Green buildings, sustainable materials, and renewable energy solutions are no longer optional—they’re essential. Developers investing in eco-friendly practices are set to capture this audience’s attention. Affordability and Flexibility: Given the high cost of urban real estate, Millennials and Gen Z are exploring innovative solutions like co-living spaces, fractional ownership, and flexible financing options. Government initiatives like PMAY (Pradhan Mantri Awas Yojana) and reduced stamp duty are also making homeownership more accessible for first-time buyers. A Golden Opportunity for Real Estate Stakeholders For real estate developers, agents, and financial institutions, this demographic shift presents a golden opportunity. Understanding the evolving preferences of Millennials and Gen Z is crucial to crafting value propositions that resonate with them. The question is: are we ready to embrace this change #RealEstate #Millennials #GenZ #HomeBuyingTrends #FutureOfRealEstate #Sustainability #SmartHomes #Urbanization #IndiaRealEstate #DigitalTransformation #2030

According to Globest, the average rent on three-bedroom homes is expected to rise 7.55% in 2024, a slight increase from the 7.39% increase they had in 2023. The most notable examples of these rent increases were exactly where you'd expect to see them, the growing markets in the South. These consistent rent increases are not that surprising, as the millennials are reaching what should be their peak home buying years but many are now priced out of the market due to rising interest rates and an undersupply of housing starts following the GFC. There were over 4 million births every year from 1989-1993, which looks like an echo of the baby boom from the 1960's, which was always bound to create a demand for housing 30 years down the road. This cohort of millennials are entering their early to mid thirties and will be looking to move out of the urban cores into bigger spaces as they start families and real estate will need to keep up. #multifamilyinvesting #apartmentinvesting #realestateinvesting

India’s housing market is set to grow, with Millennials and Gen Z expected to make up 60% of new homebuyers by 2030, according to JLL’s year-end report. Moreover, the urban homeownership rate is predicted to increase to 72% by 2025, up from 65% in 2020. #MarketingMind #Report #GenZ #Millennials

🌊🚣♀️ Navigating the Generational Shift in Real Estate 🌊🏄♂️ 🏚 The real estate market is experiencing a generational shift, with baby boomers selling homes to millennials. Key insights from the 2024 NAR Home Buyers and Sellers Generational Trends report include: ✨ Millennials now comprise 38% of homebuyers, up from 28% last year. 60% of millennials prioritize move-in-ready homes but are open to renovations. ✨ This shift highlights the need for homes with updated kitchens, bathrooms, new lighting, and functional floor plans. For Realtors and Sellers: Strategic renovations are essential to appeal to millennial buyers. Renovation Sells offers targeted updates to maximize home appeal and market value without delaying your selling schedule. For Buyers: Renovation Sells provides customized renovation solutions to personalize your new home, ensuring it meets your tastes and needs. Embrace this change by partnering with Renovation Sells to meet evolving market demands. Contact me directly at (512) 668-6336 or email me at esmith@renovationsells.com to learn how we can help maximize profits and reduce time on the market. Check Out the Read the Full Article: https://lnkd.in/eNTNVfx8 Click Here for NAR's Report on Home Buyers and Sellers Generational Trends: https://lnkd.in/edCZ5Ukn

𝐀𝐩𝐫𝐢𝐥 𝐢𝐬 𝐚𝐥𝐰𝐚𝐲𝐬 𝐬𝐥𝐨𝐰 𝐚𝐟𝐭𝐞𝐫 𝐭𝐡𝐞 𝐬𝐜𝐫𝐚𝐦𝐛𝐥𝐞 𝐢𝐧 𝐌𝐚𝐫𝐜𝐡; 𝐡𝐨𝐰𝐞𝐯𝐞𝐫, 𝐀𝐩𝐫𝐢𝐥 𝟐𝟒 𝐰𝐚𝐬 𝐬𝐭𝐢𝐥𝐥 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐟𝐚𝐬𝐭𝐞𝐬𝐭 “𝐬𝐥𝐨𝐰” 𝐬𝐭𝐚𝐫𝐭𝐬 😊 Mumbai continued its robust performance in April 24 as it recorded 11,648 sale transactions; 10.8% higher compared to April 2023. This is the 2nd best performance for the April month in Mumbai's history of, just tad short of 11,744 transactions recorded in April 22. Here are some key insights from the data available for April 2024 📢 𝐌𝐢𝐥𝐥𝐞𝐧𝐧𝐢𝐚𝐥𝐬 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐨 𝐬𝐮𝐫𝐩𝐫𝐢𝐬𝐞 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞𝐢𝐫 𝐩𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐟𝐨𝐫 𝐡𝐨𝐦𝐞 𝐛𝐮𝐲𝐢𝐧𝐠. Most property buyers in the MMR region in April 2024 were millennials (individuals aged 28-43), who accounted for 37% of the total share. This trend has surprised many as a few years back it was touted that home ownership will decline among the new generation. This thought was based on the arguement that the younger generation prefers being mobile & likes to evaluate rent v/s buy decision & would thus, shy away from home ownership. However, on the contrary their preference for home ownership has remained strong. This trend is similar to what is being observed in the US where 2022 marked the first time that more than 50% of Millennials were homeowners. This has been driven by 2 keys factors, increased opportunities for remote work & significantly higher wealth creation for this generation than has been previously seen. Here is a breakdown of the home-ownership by age categories * Generation Z [aged below 28]: 6% * Millennials [aged 28-43]: 37% * Generation X [aged 44-59]: 36% * Baby Boomers [Aged 59+]: 18% 📢 𝐀𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐫𝐞𝐦𝐚𝐢𝐧𝐬 𝐞𝐱𝐜𝐞𝐞𝐝𝐢𝐧𝐠𝐥𝐲 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 Amidst the talk of wealth creation in the country, affordability still remains a key criterion for home buying in Mumbai. This is reflected in the mix of home sizes in the overall sales. Apartments less than 1,000 sq ft continue to have a lion’s share at 85%. Here is a breakdown of the home-ownership by apartment sizes * 0-500 sq ft: 45% * 500-1000 sq ft: 40% * 1000 sq ft+: 15% The overall optimism continues for the real estate sector given the year-on-year growth across most parameters. It must be remembered that this growth is on a fairly large base of 2023. Here are some other key data points from Mumbai real estate for April 2024 📢 Stamp duty collections were up 17.6 % crossing 1,050 crs in April 2024 📢 73% of the new launches transactions were in Western & Central suburbs 📢 80% of transactions were of residential units while 20% were non-residential units 📢 Leave & License agreements (rent agreements) were up by 6.8% y-o-y 📢 Over 91% of the rental agreements were registered online as opposed to 9% visits to the Registrar's office 🎯"𝗙𝗢𝗟𝗟𝗢𝗪" me [Gundeep Singh] to receive helpful market updates & insights in 2024 🎯 𝐂𝐥𝐢𝐜𝐤 🔔 in my profile to get notified of my posts

📊 The Future of Real Estate 2024 Report by #REMAX reveals emerging trends among #GenZ and #Millennial buyers and sellers, showcasing a shift in priorities influenced by #community, #wellness, #technology, and long-term planning. Here's a snapshot of five key conclusions: 1️⃣ Community and Wellness Are Priorities: Gen Z and Millennials are highly focused on finding homes that enhance their physical and mental well-being. Proximity to parks, amenities, and spaces that promote a sense of community are essential, with “wellness real estate” expected to grow as a result. 2️⃣ Embracing Technology: Technology plays a vital role, with younger buyers using social media, AI, and real estate portals to make informed decisions. However, while AI offers convenience, agents still add irreplaceable value by providing emotional support and market insights that technology alone cannot offer. 3️⃣ Long-Term Planning and Stability: Younger buyers are increasingly focused on properties that align with their future plans. Many are choosing homes they intend to stay in for 16+ years, prioritizing move-in-ready properties that minimize maintenance and fit evolving life stages. 4️⃣ Trust in Authentic Sources: Millennials and Gen Z are highly influenced by personal networks and online reviews when selecting agents, seeking trustworthy guidance over marketing hype. Recommendations from family, friends, and online reviews are increasingly shaping decisions. 5️⃣ Navigating Financial Barriers: Rising property prices and financial concerns mean that co-buying and other creative solutions are on the rise. For many, affordability remains a challenge, but finding ways to make homeownership possible reflects resilience and adaptability in the face of economic constraints. 🔗 The full report offers deeper insights for anyone in the real estate industry looking to understand the needs of the next generation of homebuyers. #RealEstate #GenZ #Millennials #FutureOfRealEstate https://lnkd.in/df_d85WJ