Millennials and Gen Z reshaping the property market
The real estate market is witnessing a new trend, Next Gen home buyers are ruling the market, aged about 24-25 yrs. These young and ambitious individuals raring to own a property are creating a stir in the market. In the year 2020 of the total market demand about 50% has been contributed by the millennials and this upward surge in their buying potential is expected to continue in future. Many favorable factors contribute to this trend – Great buying potential of the young fueled by their fat salary, easy loan options, pressure from the parents & family to make a smart investment to avoid splurging money, the urge to own a home of own courtesy the COVID learnings, and many more.
For these young Property enthusiasts keeping a tab on the real estate trend, and smartly maneuvering the market to buy the right property is very important. Here are few tips for the young home buyers helping them make a smart investment and own a property they can be proud of.
New Micro Markets Opening Up
The hybrid work culture and the WFH scenario post the Pandemic has brought to fore the fact that staying close to work and hence having to put up with life amidst the chaos of busy localities is not mandatory henceforth. The so-called desirable inner locations of the city are no longer attractive as owning a comfortably large home in these areas are neither pocket friendly nor offers a desirable lifestyle. So, shift your focus on to the new micro markets that are emerging in the city, especially along the IT Corridor. Apartments in Siruseri and its neighborhood are situated in a growing locality that offers great connectivity, excellent social infrastructure, a befitting lifestyle, and are available at a much lower price than those in other locations.
These emerging localities should be considered and the flats for sale in Siruseri and its neighborhood promoted by reputed real estate developers should be evaluated primarily to make the smart buy.
Study the Scope for Asset Appreciation
“Real Estate is the Safest and the stable investment”, this fact has now been established beyond doubt, for only real estate has remained stable and also yielded good returns amidst a series of catastrophic developments like the Pandemic, the Russia-Ukraine war, the global recession, etc. While being assured of making a smart investment, the young investors should also go the extra mile to ascertain that they receive the best value for money and carefully choose properties that possess great growth potential. Evaluating the different growing localities, the price of properties there and the scope for appreciation is very crucial. Properties along the IT Corridor have displayed excellent growth potential over the past decade.
Properties in OMR promise good returns as this locality has numerous developmental projects lined up in the near future – The upcoming CMRL & TMRDC (Phase I) project will comprise of a 17 km long four lane elevated road and above that, an elevated corridor of Metro Rail from Taramani to Siruseri. This is expected to give major convenience to the large IT population commuting via the OMR. The proposed Metro Line-3 from Madhavaram to SIPCOT, a 45 kms stretch covers around 50 stations most of which are located on the OMR stretch. This will give a major boost to the growth of the realty sector.
Moreover, Apartments in Siruseri are much affordable and within the investment bucket of the young professionals who want to contain their EMIs to a very comfortable amount that would not burn a hole in their wallet on every month.
Lookout for Smart Homes
Today the demand is not for micro homes in busy locations of the city but for spacious New Age homes in emerging localities of the city that are equipped with many lifestyle amenities. Young home seekers should have an eye for homes that offer the right environment for their WFH routine, similar to the contemporary flats for sale in Siruseri which offer trendsetting features like Work from Park facility, co-working spaces in the Club house, and more. These green homes are also equipped with features like water treatment facilities, rainwater harvesting units, solar panels and electric vehicle charging stations and more.
Health should be an important consideration while selecting the property. Scout for properties in lesser polluted, and greener areas where there is a good cover of vegetation for healthy living. Large townships in developing localities like Siruseri offer homes which offer vast open spaces with good green cover and a wide range of lifestyle amenities like Club house, Party Hall, Indoor & Outdoor game courts, swimming pool, Fully equipped gym, and more. A holistic lifestyle in a green and amiable environment is mandatory for a life of good health and happiness, priorities it while looking for your dream home.