New Delhi: Three in every four millennilas in India intend to purchase a property in the next three years, according to a survey conducted by property brokerage form 360 Realtors.
“The millennials’ evolution into a key determinant of property market demand is rooted in numerous factors such as growth in disposable income, a shift in attitude, growing propensity to hedge against possible future risk, growth in home-finance & much more,” said Ankit Kansal, Founder & MD, 360 Realtors.
About 39 percent of the surveyed millennials preferred to purchase a property within Rs 40 lakh. Around 44 percent preferred to buy houses priced between Rs 40-80 lakh. About 13 percent of the respondents wanted to buy houses priced between Rs 80 lakh- 1 crore. Less than 5 percent want to buy homes priced above Rs 1 crore.
Around 1,200 middle-income millennials were surveyed with an annual income of over Rs 7 lakh.