moneycontrol.com-Gen Zers are buying their first homes earlier than Millennials, bank heavily on home loans
Gen Z—the segment of the population 12-28 years of age—is buying their first homes at least five to six years earlier than Millennials (those falling in the 29–43 age bracket) did while relying heavily on home loans, experts say. A survey of 1,629 Indian urban homebuyers conducted by real estate consultancy Knight Frank India pointed out that more than 36 percent of Gen Zers are seeking to buy a home, the highest among all age groups.
In fact, between January and June 2024, Millennials and Gen Z purchased over 60 percent of properties listed on NoBroker's online platform in Bengaluru, according to data accessed by Moneycontrol.
The average ticket size of the properties was between Rs 70 lakh and Rs 1.1 crore. The share of transactions by Millennials and Gen Zers saw a 10 percent increase, compared to the same period in 2023.
