Data shows that demand for homebuying among millennials and Gen Z has surged 30-45 percent compared to the same period last year.

A decade ago, tenants Delhi-NCR would typically rent nine times before buying a home. Today, younger generations are choosing to purchase a home after renting just 4-5 times.

Brokers pointed out that in the first half of 2024, millennials and Gen Z made up more than 60% of property purchases in Delhi NCR i.e. in Delhi, Gurugram, Noida, Faridabad etc. Gen Z accounted for 16% of these transactions, with the remainder coming from millennials.

Gen Z includes individuals aged 11-26, while millennials are in the 27-42 age range.

An increase in income levels has further accelerated the trend of home buying. Per capita income has risen over the past 1-2 years, and salaries of working professionals have seen significant growth following the pandemic.

Another key factor is the easy availability of home loans from both public and private sector banks at attractive interest rates. Additionally, high rental yields in the Delhi-NCR market are drawing in young homebuyers.

Most young buyers are seeking ready-to-move-in properties or are open to waiting for new inventory that is less than six months old. Many prefer to invest in 1BHK units priced under Rs 1 crore due to their rental potential. For end-users, the ideal price range is between Rs 1.5 crore and Rs 3 crore in prime areas of Delhi-NCR.