Millennials comprise dominant homebuyer group, redefine housing market: Report
Online property search portal NoBroker has observed a 23% increase in the number of homebuyers aged between 25-35 years on the platform, the proptech unicorn said in its half-yearly report. Those under 45 years of age constituted 57% of the total buyers on the property portal, it added. The term millennials or Generation Y is employed to refer to individuals born between 1981 and 1996. “They don’t see property ownership as the biggest milestone but as a means of building wealth and to establish stability early on in life,” the report said. It added that many of these young homebuyers work in the private sector and have a nuclear family set-up.
