Millennials and Gen Z are projected to account for 60% of new homebuyers by 2030, according to a report from JLL India, a global real estate services firm.
Millennials, born between the early 1980s and early 2000s, and Gen Z, born between the mid-1990s and early 2010s, are shaping the future of housing. Their preferences for sustainable and tech-integrated homes, combined with improved financial access, are driving demand.
The report anticipates urban homeownership rates to rise to 72% by 2025, up from 65% in 2020. This growth is attributed to accessible financing options, supportive government policies, and the increasing participation of younger buyers in the property market.
The housing sector is set to close 2024 on a high note, with over 300,000 homes valued at ₹510,000 crore sold across 485 million sq. ft in the top seven cities. From January to September 2024 alone, approximately 230,000 homes worth ₹380,000 crore were sold, covering 363.2 million sq. ft of space.
Premium housing projects have played a key role in this growth, particularly in Delhi NCR, where robust sales have driven average apartment values to ₹1.64 crore. “With capital values at an all-time high, the market has demonstrated resilience and strong consumer interest,” said Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.
Ritesh Mehta, Senior Director and Head (North and West) of Residential Services and Developer Initiative at JLL India, noted, “India’s housing market is undergoing significant transformation, driven by urbanization, innovation, and changing buyer behaviors.”
As younger demographics continue to influence the real estate market, the emphasis on affordability, sustainability, and technology integration will likely shape future housing trends.
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By Proptechbuzz
By Ravi Kumar
