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Today, millennials prefer minimalism a lot, irrespective of which country they come from. Minimalism suits the transient lives that millennials live. They are more into the style of life than to the stuff of life. They believe that beauty lies in its simplicity. They prefer the warm and welcoming attire, the timeless White, and the design of an apartment seamlessly integrated with technology. It should be customizable as well as remotely controllable. As per the data of ScienceDirect, 78% of millennials, compared to 59% of baby boomers, exhibit a consumption preference towards minimalism. It is not just on the minimalist design or minimalist home decor. Be it dollars, euros, or rupees, they opt to spend their hard-earned money on the experience rather than materialistic items. Not only that, health and environmental consciousness are also high on the list where they put both energy and money. Besides, millennials' minimalism can be summed up into three following points.

• Live Simply
• Waste Less
• Live Purposefully through experiences rather than things

So, minimalism aims to break down from an excessive lifestyle, and it is a living that takes you back to the roots. The objective behind the living style is 'Less is More.' The simple and basic minimalist home interior is meant to be calm and exude a peaceful aura. As per the survey of Real Research, 58.05% of millennials consider themselves minimalist; moreover, 9.89% want to achieve a simple life by becoming a minimalist, and a further 4.78% can see an increase in productivity this way.

One thing that people tend to avoid in their homes is having too much space. The minimalist embraces the idea of uncovered walls, bare floors, and bare surfaces. Countertops, study tables, and desks require a quick minimalistic fix for a decluttered space. These are all everyday items, but if it is not everyday's items, they love to keep them hidden away for added space and order. Living simply, organizing, and controlling everything is an enchanting lifestyle choice. Apart from this, the growth of minimalistic décor and home design is influencing minimalism.

Millennials' Choice: Sustainable Small Homes with Ideal Environment!  

Then, it comes to environmental concerns. The aesthetic of living space is paramount to millennials. With creative ideas, exposure to more significant trends, and adherence to values, they are willing to go the extra mile to accommodate their requirement. Themes like the vast array of raw materials, lots of colour pallets, and unlimited décor as a beautiful furnishing option provide them with a wide range of choices. As per the record based on Washington DC, 80% of millennials agree that global warming is a fact, and 65% agree that humans are the leading cause. The "Green Generation" is concerned about climate change, recycling, and reducing the carbon footprints those all have added to the mass adoption of a zero-waste culture.

Rest assured, the concept of home is far more inclusive than another. The outer open space is far more critical than the inner space. Millennials want natural access to sunlight, fresh air, and maximum greenery; balconies and terraces should be planned at the design stage and converted into aesthetic spaces. A garden, study space, and reading space are just the options that redefine the home's functionality. They choose to live in apartment blocks expect amenities such as a gym, nearby grocery stores, vegetable stores, etc. Millennials are willing to spend the extra money as long convenience is a mantra they swear by. They also expect a pet-friendly community living space. As per Business Wire's report, 85 percent of people globally indicate that they have had a paradigm shift towards their purchase behaviour that makes them more sustainable in the past five years. Today, they are savvy enough to understand energy management's concept and demand side. They want to rent to a smart home system that enhances convenience and improves security.

As per the environmental concern, a report suggests that millennials feel worthy of a home that is

• Healthy Home
• Energy Efficiency
• Smart Home Technology
• Water conservation
• Enhanced Outdoor Living
• Net Zero Carbon

These are the minimum sustainable priorities for their homes. As per the report of CNBC, global investors contributed 51.1. trillion dollars to sustainable funds in 2020, compared to less than 5 billion dollars five years ago. Whether tiny or small, millennials want sustainable property to live, buy or rent.

Bangalore is the central business place to find employment for many millennials. The apartment can be small, but they want a cozy place with all functionalities and amenities to address it as a sensible home. It may be minimalist so that they can find a place to way back home. Still, it must be eco-friendly and sustainable with added advantages of water conservation, solar power, recycling, landscaping, etc.

They Choose Smart Homes with Security and Privacy  

A recent survey showed that millennials aged between 27 to 36 years are the generation that is more enthusiastic about smart home technology, and they are willing to pay 20% or more for smart homes. As per data from key smart home statistics, there were 258.54 million smart homes worldwide. There were 258.54 million smart homes worldwide, and households will spend $19.4 billion worldwide on security systems. They choose an apartment complex that bestows utmost security, privacy, complete privacy, and the hybrid gated community.

Easy Maintenance Matters a Lot to Millennials!

Millennials are opting for low-maintenance houses. Maintaining small homes with amenities is more accessible than maintaining a big house. One reason millennials choose small homes with big styles is that it is highly time and energy-saving.

Millennials Want Small, Affordable Home

Today, Indian millennials are searching for budget-friendly, affordable homes. Affordable homes are today an increasing real estate trend. As per the data, the Indian affordable housing market was estimated at USD 1824.35 million in 2022. Small apartments are comparatively less expensive than big apartments and are cost-saving for millennials.

Location Matters to Millennials!

Apart from this, accessible and essential access to necessities near the home, fashion, entertainment, and urbanized location drives millennials to choose a property where they can live in big style. In Bangalore, they choose good neighbourhood areas such as Whitefield, and Bellandur, where hospitals, educational institutes, banks, and shopping complexes get easy access.

Small Homes: The Nuclear Family Value-holder

It is okay to have a 1 bhk house, but filled with completeness, tranquility and a transforming experience resurgence of family values. This generation believes in nuclear families and small houses are perfectly fitting with their conception.

We know that big dreams happen in small place and what it takes to call home your own piece of paradise. For any inquiry of in  top localities in Bangalore, please write to us at [email protected]. We will be glad to help you.

Millennials' journey to find home is about finding Ikigai in their lives. Today, millennials are moving across the world, coming from different layers of society from different walks of life. They mix themselves with different cities, cultures, customs, religions, and a diverse range of cosmopolitan attire, but one thing is universal inside them. They mingle themselves into the cosmopolitan lifeblood to improve the quality of their lives, enrich the experience or journey of life, and fulfill their dreams to reach their maximum potential. Home is beyond the four walls border or a roof over the head to millennials. Today, millennials seek homes that denote the value of transparency, logic, uncompromising in terms of quality, sustainability as a future promise to the next generation, and a home that maintains tranquillity or privacy. Properties placed in urban locations hold absolute worth to millennials.  

As per the market data of TelanganaToday, Seven out of Ten Employees (about 70 percent) are millennials in India. As per the data of Times of India, Indian millennials are the focal point of the human capital trend, where they are becoming 70% of the Indian working-age population.  

According to the Great Place to Work India report, 39% of Indian millennials have grown to progressive leadership development programs. As a torchbearer of change, they demand transparency in their career and home. Millennials prefer developing tier 1 or tier 2 cities. As per the data, 38 percent of millennials stay in the suburbs. They choose to reside in a place to live based on quality-of-life factors first and job availability second. This article will discuss how location matters to millennials and how millennial investors avail high rental yields in the emerging real estate market.  

As per the current scenario, many millennials are looking for the best place to invest in Bangalore for high rental yields. As per our survey, today, millennial tenants or even tenants of all age groups prefer locations that are  

• Urban downtown, location with a mix of offices, apartments, and shops  
• Urban, residential neighbourhood  
• Suburban neighbourhood with a mix of houses, shops, and businesses  

Urban downtown: the goldmine for millennial investors 

One of the most significant world trends in the past two decades has been the sustained, rapid growth of international business, MNCs, ITs and the corporate world. The emergence of a corporate economy based on contemporary scientific and technological developments led to product globalization. As a result, the revolution has brought instant worldwide communication, insta-transformational. The ownership of the phase is highly transitional. The management is transitional, provoking the millennial workforce to step up for economic growth. That removes their regional boundaries and makes themselves domestic global in a true sense. That is the first reason millennials locate themselves in the central business area even if they are small city breed. Plus, the central business area is the hub of international export-import companies. It holds the scope of foreign market entry mode, growth of the overseas market, and flow of FDI...the diversification allows cities to become the fastest-growing residential markets in the country. Census data found that downtowns in the nation's largest cities grew by 13.3% over the previous decade. Here we discuss the insight that makes Bangalore the goldmine for real estate investors.

Bangalore is home to the world's most highly educated, skilled workforce. Renowned as the 'Silicon Valley of India,' the third largest city's population is 13,373,956 in 2023. It is the home of the most successful technology companies and the leading universities in India. The vibrant city carries globalization, urbanization, and liberalization, transforming it into one of India's most cosmopolitan cities. Today, the city is a focal point of real estate property investors.  

Urban, residential neighbourhood: The Choice of Millennial real-estate investors  

As urbanization continues to shape the real estate sector in India, tier-2 and tier-3 cities have emerged as the new centers of growth. The urban, residential neighborhood has improved connectivity and created an ecosystem fostering economic growth and urban expansion. Investors see the immense potential for residential and commercial projects in those urban residential neighborhoods.  

The improved connectivity through highways, significant infrastructural expansion, or the government's focus on infrastructure attract a diverse range of real estate investors to invest in these properties. In our previous blog on Whitefield; the fastest developing area, we stated govt's allocation of Rs 2500 crores of the recently presented state budget of Namma Metro Extension Project. Due to the robust social infrastructure, Whitefield may witness 8-10% of rental growth in 2 years.

Suburban Residence: The Exquisite Real Estate Investment Place for Millennial Investors  

According to the new research by Ernst & Young, many youngsters aged 20 to 36 opt for renting in suburban areas. As per the CNBC report, 41 percent of millennials opt for suburbs over cities, small towns and rural areas. Millennials are choosing suburbs as properties are comparatively more affordable than in cities. Secondly, suburbs can provide a better connection with nature with more available space with trees, parks, lawns and gardens to nurture the connection with nature. The third reason is suburbs offer more job opportunities with a relaxing lifestyle. As per data, by 2025, As per the data, millennials will cover 75% of the workforce. They are predicted to choose suburbs to live in and raise their families in a lovely and lively home.  

As we know, Whitefield is a vibrant suburb in the eastern part of Bangalore that transforms into an IT hub and, of course, a sought-after residential area. Lots of millennials across Bangalore are searching for rental apartments in Whitefield. Also, as per the opinion of lots of millennials, it is easy to raise kids in suburban areas. This location is evolving, and millennial tenants find ready-to-move sectors and new projects coming up everyday.  

Blockchain is highly welcomed in the OTC or Foreign Exchange markets. The worldwide market is where currencies from different countries are bought and sold. The OTC market has no physical place or the most significant financial market, with a daily turnover of over USD 2 trillion. Apart from this, the decentralized ledger is used in industries like law enforcement and security, software securities, real estate companies, travel and mobility, banking, and finance. As per the market data, this technology will grow at an 85.9 percent CAGR worldwide. It is the technology that is primarily utilized in cross-border payment and settlement. By 2026, the technology market will be worth $67.4 billion, and as per the data of Pwc' Trust for Report', Blockchain will increase the global GDP by $1.76 trillion by 2030.

Blockchain in the Real Estate Market for Millennials  

Like the OTC market, the real estate market can be situated throughout the globe, maintaining different time zones 24 hours a day, maintaining a way when one market is closing, the other is operating. Though a specific market functions only during business hours, this sector can receive international payments, statements, or other things connected with international banking in the age of internationalization. This technology operates on decentralized transactions and records each transaction in a public ledger. Besides security and transaction control, it bestows property management operations, transparent data tracking, global asset distribution to millennial investors. The use of Blockchain in the real estate sector for millennial investors or developers is boundless.

As per the research of the  Financial Market, the market of real estate will increase to Rs 65,000 crore by 2024 in India, and all the projects in the real estate sector will contribute 13% of the country's GDP by 2025. As per the survey, this technology is taking a baby step in this sector in India. Here, we will discuss the transformative potential of Blockchain in this sector or how it is proving that stakeholders' integration is the key to success.

The Significant Deeds of Blockchain: Benefits and Potential

The Distributed Ledger Enhances Security and Control over Transactions  

Previously, real estate was believed to be a scammers' paradise. It is the report of the Business Email Comprise Scam that noticed a 2200% increase in monetary losses. The valuable technology enhances the security and transparency in the financial payment system. Apart from this, it eliminates the possibility of anything underhanded. A census mechanism must validate and agree upon All transactions with Blockchain. Property transactions don't involve any third parties. It reduced the risk of fraud.

This technology, or The Digital Ledger, Eliminates Paper works and Intermediaries

Till now, the real estate industry is impaired with extensive documentaries as well the involvement of several intermediaries. But the digital ledger shows the clear-cut data to the real estate market, the immutable proof that parties have the funds required for the transaction in rental and purchase scenarios. So, stakeholders need not to be immersed themselves in any paperwork. It also eliminates the intermediary in asset rights transfers, lowers asset exchange fees, and opens worldwide markets. This technology opens the business 24 hours a day, 365 days a year.

The Decentralized Ledger Provides Property Management Automation  

Real estate developers can eliminate manual paperwork and requirements of using software paperwork. So, when you can use this technology to build your app, you automate your entire property management. That leads to cost reduction and time spent on administrative tasks.

As per MSCI  FutureMarketinsight's data, in 2023, Blockchain Technology's market value was US$4.6 billion. The growth happens in three basics: short-term use for its operational efficiency like property management automation. Another two basics are mid-term that will follow (2026-2029) and long-term basics (2029-2033).

It Gives Shared Ownership and Investment  

Buying or leasing property undoubtedly requires a significant investment, and investors can buy their share of property through Blockchain. It enables the real estate sector to have fractional ownership, turning the heads of all real estate company owners.

As per the statement of Rahul Shah, VP-Equity Advisory, MOFSL, last year, the realty sector witnessed 43% growth, and most of the prominent real estate companies hold a steady focus in Bangalore. They will adopt the guidance of anything between 15%-24% of growth. Today, lots of investors are investing in properties in Bangalore located in Whitefield, Bellandur, or other top areas in Bangalore. Millennials worldwide are searching for apartments for rent in Whitefield, Bangalore and the market in Bangalore is playing exceptionally well in the real estate sector. Adopting Blockchain is beneficial in this sector for the coming year's growth.

It Bestows Transparent Data Tracking and Analysis  

Blockchain makes all the data recorded or the history of the buildings readily available or transparent. It is suitable for future investment in any property. The reliability of it helps real estate investors to build trust among all stakeholders. As per the National Strategy of Blockchain data, the decentralized ledger will be utilized as a foundational technology for the 30% of the global customer base by 2030. This feature of this technology is beneficial for every user industry, including the real estate industry.

Blockchain helps in Global Asset Distribution  

This technology allows the creation of a universal system of buying and selling properties. Smart contracts: The important Blockchain feature enables property owners to automate all sales transactions and confirm their validity in real-time. All the sales transactions in the Blockchain are processed instantly.

The one challenge to adopt Blockchain was the required infrastructure for its seamless benefits. But currently, the United States is leading in digital leverage. The market size of Blockchain in India is likely to record CAGR of 47.3 per cent, it will increase from $0.28 billion in 2019 to reach $4.3 billion by 2025. It is not only for currency derivatives, international trade, and capital flows. It is equally valid for the real estate sector, too. As per its current position, As of now, the digital ledger is in the condition of state-of-ball rolling in both national and global markets. All stakeholders, real estate investors, and developers need to come together and align themselves to discover the full potential of this technology. However, if we predict the future, Blockchain is undoubtedly an integral part of the future of real estate.

In a world, where oversharing has become the norm, it's no surprise that gated apartments are gaining more traction among millennials than ever. As this generation values security, community, and a sense of belonging, the concept of gated living seems tailor-made to suit their preferences. Let us explore why gated apartments are like that 'do not disturb' sign you always wanted.

Table of Contents
1. Benefits of Gated Apartments
2. Factors to Consider When Choosing a Gated Apartment
3. The Future of Gated Living: Adapting to Changing Lifestyles
4. FAQ

1. Benefits of Gated Apartments

Enhanced Security Measures

Security is an essential concern for the millennials and gated apartment communities provide that reassured security. With access points that are controlled, CCTV surveillance, and 24-hour security guards, these communities provide an environment of security that is in line with the safety-conscious lifestyle of the generation of millennials.

"Security is not a luxury; it's a necessity." - Benjamin Bratt

Exclusivity and Prestige

Living in a gated apartment community gives a feeling of exclusivity and a sense of prestige. This kind of environment can be particularly appealing to millennials who value their privacy as well as the prestige that comes from living in a premium setting.

"Home is where we feel secure. Be it a castle or a small one-bedroom apartment." - Unknown

Amenities and Community Spaces

Beyond security, the gated apartments offer a variety of facilities within their enclosed areas. From fitness centers to the swimming pool to lush green garden areas and gathering spaces. These communities offer an extensive living space that encourages social interaction and recreational activities.

2. Factors to Consider When Choosing a Gated Apartment

Location and Accessibility

Although the appeal of living in a gated community is attractive the location remains an important aspect. The proximity to workplaces, educational institutions, as well as essential services is crucial. The millennials appreciate accessibility and convenience, which makes it crucial to pick an apartment with a gate in an ideal location.

Also Read: 5 Reasons Why Tenants Prefer Whitefield As The Residential Locality In Bangalore

Cost and Value

Balancing privacy and amenities with affordability is essential. Gated apartments come with decent initial costs and monthly maintenance fees considering the value they offer in terms of security, amenities, and overall living experience.

Also Read: Unlocking Affordability; Creative Ways Millennials Discover Affordable Rental Homes in Expensive Urban Areas!

Community Atmosphere

A common misconception is that gated living isolates residents. The community atmosphere within gated apartments can vary. However, a lot of modern gated communities aim to create a vibrant community through events, shared spaces, and interactive platforms.

3. The Future of Gated Living: Adapting to Changing Lifestyles

Finding the middle ground between personal space and community vibes can be challenging, but that's the beauty of gated living which offers security, privacy, and a sense of community. As millennials' lifestyles evolve, so too must gated living. The communities will likely include the latest technology, sustainable practices, and flexible living arrangement which will ensure that gated apartments continue to resonate with the preferences of the newer generations.

According to a report from Redseer Strategy Consultants, within the top 50 cities in India, approximately 16 million households (equivalent to around 32% of the total households in these cities) currently live within gated communities. This figure is projected to increase at a Compound Annual Growth Rate (CAGR) of about 7% over the next decade. By the year 2031, this growth is anticipated to result in a total of 32 million households residing in gated communities. This population shift is poised to account for roughly 50% of the households in the top 50 cities.

So, are gated homes the solution for privacy-loving younger generations? As with any housing decision, thorough consideration of location, cost, and community dynamics is essential but gated apartments can be the perfect choice for millennials, looking for a secure and fulfilling living experience.

Also Read: How Does A Home Impact The Work-Life Balance Of The Millennial Tenant?

4. FAQ

Q. Are gated apartments only for the wealthy?
A. Gated apartments come in various price ranges, offering options for different budgets. While some cater to higher-income individuals, many communities aim to provide a balance of value and security accessible to a broader range of residents.

Q. Do gated apartments limit social interactions?
A. Gated communities are designed to encourage interaction among residents. Common areas, events, and shared facilities provide ample opportunities for socializing while respecting personal boundaries.

Q. What security features should I look for in a gated apartment?
A. Look for controlled access points, surveillance systems, well-lit common areas, and trained security personnel. A comprehensive security infrastructure ensures a safe living environment.

Q. How do gated apartments contribute to work-life balance?
A. Gated apartments offer convenience, saving time on commuting and providing access to amenities that support a balanced lifestyle. This enables millennials to prioritize their personal and professional lives more effectively.

Millennials believed to be prudent in their rental housing choices, value affordability. As a result, there is rising demand for cost-effective, affordable homes in Urban areas or tier-II, tier-III cities. They believe that finding a good property means defining the good property. What makes a piece of property worth owning/renting? Though some millennials and students also search for co-living arrangements and micro apartments, they soon become too problematic to afford due to the lack of basic standards. Lack of privacy, absence of gated security, non-reasonable pricing push millennials to ask the most common question, "Can you find me a good property, please?"  

Here we discuss the creative ways millennials discover affordable rental homes in expensive urban areas. 

Millennials use technological advancement to discover affordable rental housing

Tech-savvy millennials are reshaping the real estate market by embracing technology. They researched online rental properties, connected with real estate developers, and even completed the transaction by technology. As per the data of FutureMarketInsight, online home rental market is expected to expand US$18.24 Billion by 2023.They also prefer smart home technology that enhances convenience and security; it increases the value of premium rental homes.

Millennials Seek Homes with Modern Amenities

Today millennials are checking something beyond basic amenities that can bestow a feel-good factor. They search for the rental homes which are just not about sounds good, but good for the soul. The perspective of millennial home renters is changing. They want to rent or lease homes those provide a long duration of comfort and security with minimal upkeep.

Excellent Location 

Questions such as where the property is situated and "On what land/plot the property is" are some preliminary questions that should be answered. Affordable rental housing projects are located in developing or peripheral areas of cities, where it needs to be evaluated the location's connectivity to major employment hubs, schools, healthcare facilities, options of transportation like metro connectivity, trains, buses. It is an important consideration. As per the report of TimesProperty, the Whitefield Metro effect is transforming Bangalore’s outskirts into a hub for affordable rental homes.

Millennial Values Eco-Friendly and Sustainable Rental Homes

As per recent reports, energy-efficient buildings in India have witnessed energy savings of up to 30%. As per the current data of MarketResearchFuture, energy-efficient facilities in India have seen energy savings of up to 30%. The technology of energy-efficient building or green building practices includes:

1. The utilization of renewable energy sources, like the installation of rainwater harvesting systems
2. Rental homes that implement of effective waste management strategies
3. The use of eco-friendly building materials like recycled or locally sourced products 

BTR Model: The New Sensation to Millennials!

According to the market data of Meraqi Advisors, the BTR market is worth an estimated USD 8 billion in India.

It is believed by many real estate developers/ investors that architects and designers have the skills to deliver housing that addresses these critical issues of affordability, sustainable design, and urban density. This has taken the form of architect-led development and build-to-rent concepts, bridging the gap between renting, and owning your home.

Affordable housing is not just a useful design; architects can make a difference by improving people's lifestyles, creating meaningful communal spaces and aesthetics. That is something millennials search when they are taking a home rent.

Millennials believe in space-saving, tranquil housing 

A study shows by YahooFinance reported that millennials prefer smaller homes because they are more interested in minimalism than boomers. Many millennials are searching for 1 bhk in Whitefield, Bangalore or ready-to-move flats in Bangalore, Pune, Mumbai, etc. The developers should keep this in mind while developing properties that can be indeed called Millennials' homes!

They Check Developers’ Credibility

Today young home renters research the reputation and track reports of the real-estate developers before renting an affordable housing or property. They check the developer's past projects, delivery record of accomplishment, and financial stability to ensure the trustworthiness of a developer.

Thinking Ahead! Affordability at the heart of Millennials

Once affordable housing was an innovative concept; a tremendous amount of artisanry between a great idea and an excellent product. Today the concept has become a reality. We understand that the right to adequate rental housing is more than having a roof over one's head; it is the right to live safely and in a decent home. Here in Kots, we curate the finest experiences to harmonize a global way of life. We know that a home is not just a rental or leasing investment of money and time. It is the reflection of millennial home possessors’ unique identity.

If you are in search of rental homes or apartments for rent in Sarjapur; kindly contact us at [email protected] You can visit our website at www.kots.world

We see the rise of tier-II and tier-III localities such as Whitefield, Sarjapur Road, Bellandur, and Maithri Layout in a metro city like Bangalore. These localities are experiencing rapid growth and development, and they will develop more in the future. Today, people not only from Bangalore but from India are searching for apartments for rent in Whitefieldor houses in the best areas in Bangalore, and they searched for the same in the past also for the rapid urbanization of those areas. Real estate investors must commit resources for an ever-longer future.

Today’s investors also look at some critical issues such as appreciation potential in the near future, future development of the locality, such as commercial development like the addition of new schools, hospitals, and other civic infrastructure, and employment opportunities to meet their pre-determined goals. Having 1 bhk house in these localities in Bangalore is not a fragile shelter; instead, a new rhythm for techies searching for an apartment or house for rent in Bangalore where one point ‘career’ leads inevitably to another..life!

Strategy 4- Green Real Estate: Today's Investors are Building Climate Intelligence!

Investing in green buildings is both a sustainable and durable choice. Regarding ecological sustainability, millennial tenants are willing to take a few extra miles for a safe future. Also, as per the key to success, millennial investors want to set a trend with some evolving concept to lead the way forward and set up an example for the coming generations. Apart from this, the aesthetic of the properties combined with sustainability aspects is attractive to the even younger generation, like the Gen Z in India.

Strategy 5-The Digital Connection: Millennials are Driving Digital Transformation in Real Estate Sector!

Millennials are a digitally inspired generation. From virtual house-tour to digital scheduling, millennials prefer digital closure for their homes. As per the comprehensive research report survey by Market Research Future, the global property management software is esteemed to reach USD 21.4 Billion by 2025. It is the time for investors to rediscover the pleasure of innovative, problem-solving technologies with new beauty and new capacities.

Strategy 6 - Leasing: Today's Renters are Looking for Long- term Staying!

Today Indian millennials are more inclined to own their own homes, even in their working cities like Bangalore, Pune, etc., due to the sentiment of family values, for the long-term future investment idea. It drives the tenants to take a property on lease, where they can be assured of a full taste of ownership for a tenure without interference from the landlord or increased rent. Today’s investors are conscious of this trend and are interested in giving property on lease to new-age tenants.

Secret/Strategy 7 - Knowledge of Investment and Financing Trends for Millennial Investors

The real estate sector in India is going through a significant shift towards alternative financing options and investment models. Investors use crowdfunding platforms to grow real estate businesses. Real Estate Investment Trust (REITs) has also emerged as a popular investment model in the Indian real estate sector. Moreover, budget 2023 has laid a positive roadmap with a growth outlook and a focus on urban planning and sustainable growth. It focuses on green building, sustainable cities for tomorrow, REITs, etc.

Towards all the Millennial Real Estate Investors!

We understand what it takes to undergo a lucrative real estate investment journey. But when we turn the fundamental objective into meaningful travel, it will not seem that you are walking at the end of your rope.

Within this insight, you already gone through the journey of millennial real estate investors who put their hearts and souls into improving the real estate sector in India. They come from diverse walks of life, across different strata of society, from different parts of India and the globe. But they are all connected by the same mission- to improve the quality of living and life of others, to serve people in a unique way, even if sometimes it means trading certainty for uncertainty. The Millennial investors in the real estate sector deserve all the respect we can assemble for them.

This is where digital transformation lies! It is all about the changes that enterprises deliver value to the clients. It is the emergence of new digital technologies and enterprises' adoption to bring the new business process to make the business more attractive to investors, potential employees, and clients. According to a joint report by NAREDCO and EY, 'The size of the country's real estate industry is expected to reach USD 1 trillion by 2030 from USD 200 billion in 2021'. It will happen with the proper implementation of technology and smart decisions.

The Metamorphosis: Technology is Plumbing the Depth!  

Today millennials in India encapsulate the adoption of digital transformation and seamless integration of digital technologies across every facet of real estate operation. When we say all facets, we mean every single step of the journey. From property discovery, Virtual Tours and Augmented Reality let people explore properties from the comfort of their homes. Then comes the negotiations and transactions, where blockchain technology ensures secure and transparent dealings. 

Let us not forget the virtual reality tour that gives prospective buyers and renters a realistic view of the properties, irrespective of their locations. Today, data is the new oil. Data drives this industry. AI and machine learning algorithms analyze lots of data to predict market trends. It also forecasts properties' valuation and matches properties to the buyers' preferences. This data-driven approach helps in decision-making for both buyers and sellers and real estate professionals alike. 

Blockchain and Smart contracts bring transparency, speed, and security to real estate transactions. Crunchbase recently updated that Gen Z in India are renting, and they are interested in smart home technology to control everything from their phone.

Sustainability 

Sustainability has taken a different path through digital transformation. Real-estate organizations are starting to harvest data about demand, usage, and the life cycle of products for the 'circular economy' benefit. This is how data computes its way to sustainability, keeping products and materials in use, and regenerating natural systems. It could be up to $127 billion in a year in 2030.

With all the technological endurance in this sector, starting from a 1 bhk house to multimillion-dollar construction; one thing must be remembered. Digital Transformation is not faith in technology. It is the faith in people. It is the footprints of digital nomads in the real estate sector, especially in the fastest-growing cities in India to believe in ‘Think Different.'

If you are looking for more information on real estate investment in Bangalore, even if you are in search for a premium rental flats in Whitefield or other localities in Bangalore as per your convenience, write to us at [email protected]. We are coming up with more insights into this sector, which helps you to explore localities in Bangalore to invest. Till then, stay connected with our journey that constantly endures new voices. 

The monetary investment market has diversified from residential and commercial real estate over the years into many new categories due to rapid urbanization. Individuals invest in the stock market, blockchain and NFTs (Non-Fungible Tokens). Earlier, people migrating to cities like Bangalore would search for rental apartments in Whitefield or "1BHK for rent near me" and see the rents being higher than usual. The high rents and the pandemic slowly changed the perspective of home individuals.

The CBRE's "Live Work Shop" survey with 20,000 participants showed that around 44% were willing to shift into their new home in the upcoming two years. The participant sample size included individuals from all age groups; Baby Boomers (58+ years), Gen X (42 to 57 years), Early Millennials (34 to 41 years), Late Millennials (26 to 33 years), and Gen Z (18 to 25 years). During the research, it was found that 68% of the population lived in rental homes. In metropolitan cities like Bangalore, individuals lived in 1BHK flats for rent in Whitefield, Bangalore Koramangala, BTM Layout and other popular rental localities. The data also showed that 70% of the survey participants, both early and late millennials, wished to own their own homes.

How different Indian demographics look at prospects of investing in real estate in 2023:

Distinct groups of individuals approach real estate investment differently due to their different mindsets.

Baby Boomers: 

The individuals born between the years 1946 to 1964, also known as baby boomers, have a very cautious approach to investing in real estate. They work hard all their life to save enough money to purchase a property, as they think it is a safer and more stable investment compared to gold. It is also a way to diversify their portfolio to generate a passive income via tenant rent. This generation of individuals is focused on income rather than long-term investment horizon. This generation is closer to retirement, and they prefer to have a stable source of income that will add significantly to their post-retirement savings.

Millennials:

This demographic was born between 1981 and 1996. In 2023, they are the larger group keen on residential real estate. Instead of looking for flats for rent in Whitefield in Bangalore or a 2BHK in Bandra in Mumbai, they are looking to invest in homes to acquire long-term wealth. Statistics say that over 43% of the home-buying group are millennials. Around 66% of the millennials state that they purchase as they see it as a long-term investment, while 30% mentioned that social status was also a driving factor in purchasing homes.

Gen Z: 

This demographic born after 1996 are more driven to make smart choices. This group is just beginning or has yet to enter the workforce. The youth would mindlessly spend on things earlier, but in 2023, Gen Z has their priorities set with a roadmap for their future. Despite having yet to be able to invest in property, they have a set plan to make the right investments at the correct timelines in their life. The demographic looking for 1BHK flats for rent in Whitefield, Bangalore or a studio apartment in Worli, Mumbai is strategising how to shift from renting to owning a home while they are still young.

Mindset Shift post-Covid - 71% of Millennials Aim to be Homeowners by 2025:

• The post-pandemic era has changed the millennial perspective of a home. Before the lockdown in the country, people preferred to rent homes and were comfortable with that lifestyle.
• The forecast is that by 2030, the millennial demographic will contribute around 1 trillion dollars, which will, in turn, contribute to GDP.
• During the lockdown, everyone was forced to be isolated in their rental homes, some away from their families. They missed their loved ones and human interaction.
• Before March 2020, individuals would barely be home, as everyone worked from the office. They would spend their entire day at the office and be home only during the evenings and weekends. It was one reason why millennials wanted to avoid purchasing a home in the first place.
• During the pandemic, most millennials were asked to work from home and spend all their time within the four walls. They understood the importance of a space they call home. People started to change their perspective on how the space should be.
• The 71% of millennials who want to own a house by 2025 prefer to payoff the EMI than spend a lot monthly, especially in high-rent cities like Mumbai and Bangalore.
• The statistics state that the Southern part of India in cities like Bangalore and Hyderabad are seeing an increase in interest in millennials seeking to be homeowners.
• Individuals working in the IT, Pharma, electronics, and health sectors who would earlier put their hard-earned money in either a savings account or in the stock market are investing their money in real estate.
• Several Banks are also giving home loans of around 80%-90% depending on the income of the millennial.
• They are seeking properties closer to bus stops and railway stations as they are relatively cheaper. They are also primarily considering localities closer to their work since many have a hybrid work mode. They also want to invest in a home due to family commitments as they wish to spend more quality time with their family.

Millennial Preferences and Home Buying Trends in 2023:

Millennials are searching for a balance between work and personal life. Their preferences while purchasing a home differ slightly from those in their 50s. Millennials are an important segment of the real estate industry. They are in their peak years to invest in real estate with the liquidity and their knowledge about real estate. The residential market in South India has a growing community of millennials keen on being homeowners, especially those living in rental homes. This demographic is now taking advantage of the available home loans, GST, tax exemption, and other benefits. Around 66% of millennials have started investing in residential real estate. The buying trends of millennials in 2023 are as follows:

Community Living:

For the millennials, a home is more than just a commodity. They see home as a place to grow, nurture their true selves and establish stronger relationships with their family and loved ones. After the pandemic, millennials integrate social connectivity into their daily lives. They have started looking for houses in localities with a solid sense of community. They look for residential spaces with co-existing spaces like lounges, communal spaces, clubhouses, and co-working spaces.

Digital connection: 

Thanks to property technology or ProTech, millennials can access worldwide information. They are also digitally inspired by the various features allowing them to access virtual property tours, scheduling meetings digitally and more. When they search for "1BHK for rent near me", many websites and aggregators are immediately brought to their attention at their fingertips. The tech-savvy demographic prefers convenience over anything. Even real estate purchases are now like shopping online.

Green sustainable spaces:

The coming generation of individuals is willing to pay a premium price for a sustainable and healthy lifestyle. The environmental sustainability promised by home builders is not a luxury to them but rather a necessity. They are willing to spend the extra amount for a greener environment without compromising on the amenities. Millennials are shifting towards more ecological sustainability and are willing to pay for it. They believe in a good work-life balance and want a place that aids in improving their mental and physical health by reducing stress.

Facilities, Infrastructure and Location: 

The millennial demographic has become more conscious about their health after the pandemic. Along with beautiful architecture, they wish to have better amenities that aid their physical well-being. Facilities like gyms or workout spaces, a jacuzzi and spa, swimming pools, pathways to go walking or running, and some recreational centres like party halls and a movie theatre in their apartment complex/ gated community has become an essential necessity to look for while purchasing homes.

There are often misconceptions that when people rent a furnished 1BHK or studio apartment, they are not allowed to do anything to make the space their own. It can be tricky, but on the contrary, after having a word with the landlord of the apartment/property and looking at the agreement terms, the tenants can customise their space within guidelines. A home resident can change their space with tiny additions in many ways.

TIPS TO MAKE FULLY FURNISHED RENTAL HOMES FEEL LIKE YOURS:

Looking to personalise the fully furnished 1BHK house for rent for a more comfy and cosy experience? The following tips will help transform the place instantly:

Fabrics and Textures: 

The easiest way to customise a home without burning a hole in the pocket is by investing in rugs/ carpets for the living room and bedrooms. A good rug can complete the aesthetic of a room instantly. The rugs must be selected as per the tiles in the room. If the house has granite or Linoleum tiles for rent, invest in a comfy wool rug that keeps the feet nice and warm. Pick a stylish natural fabric rug if the apartment has wooden floors. The tenant can also add textures to the apartment by investing in paintings and prop it against the wall on the floor. This prevents drilling holes in the wall and adds texture to the space.

Indoor plants:

The new-age tenants seek to be surrounded by outdoor greenery; why not incorporate that indoors too? The millennial tenant can beautify their 1BHK and studio homes by incorporating plants from the local nursery. They can choose from plants like Monstera, snake plants, money plants and succulents. A green space calms the mind instantly and allows the resident to feel happy and be better productive with their daily tasks.

Pillows and throw blankets: 

When landlords rent a fully furnished house, they usually include a sofa in the living room and a mattress with a bed frame in the bedroom. Modern tenants can add an element of uniqueness and express themselves by decorating the existing non-negotiable furniture in the apartment space. Many online stores sell quirky and aesthetic sofa and bed pillows that can instantly change the space's vibe. Throw blankets are also a great investment for a fully furnished rental home. They are comfortable blankets that can be put on the sofa or spread on the edge of the bed. Tenants can use them while watching a movie in the living room. It also adds a cosy vibe to the space.

Standing bookshelves and storage units:

The bookshelves are a great option as decor in a fully furnished apartment. Plenty of antique stores exist in the city's nooks and crannies within a city and online. People can find second-hand vintage standing bookshelves or mini cupboards to decorate their space. These units can also double as storage space in the bedroom/ kitchen or a showcase shelf in the living room.