Why do Millennials choose apartment rather than individual house

June 16, 2023

A recent survey conducted by Statista in 2022 reported that over 50% of homebuyers in India are millennials. Validating this comes another report which states that about 56% of Millennials prefer real estate over any other form of investment.    

Millennials chooses properties as safe & secure investment - Best Real Estate Investors in Chennai                                     

This trend is fueled by many factors such as better disposable income at a younger age, better understanding the investment market, identifying the volatile nature of other investments and utilizing the beneficial offers by real estate developers, easy EMI options by financial institutions, and most importantly the desire to own a living space of their own. Post the Pandemic the WFH and the Hybrid nature of job, and the need for a functional and comfortable living space drives Millennials towards the smart investment option of buying a home. 

While analyzing the choice of this sect of home buyers it has been observed that their unanimous choice of home is that of a trendy and amenity-full apartment and not a high-maintenance individual house. While the above statement encapsulates the main factors that drive the millennials to choose apartments, let us delve on the reasons a little more.

Live Life King Size

Live like king size - Best Real Estate Investors in Chennai

Millennials believe in “Living the Moment to the Fullest”, they work hard and party hard. Along with good education, and better paying jobs they also have other priorities like staying in shape, hanging out with friends, and enjoying life to the fullest and they prefer a home that helps them achieve these goals. 

Premium Gated Community apartments in Chennai from leading real estate developers provide a wide range of amenities that helps them realize their dream. Fully-equipped air conditioned Gym, Open air fitness area, Star Club house with facilities like Indoor game courts, swimming pool, Co-working area, and other amenities like Outdoor game courts, coffee shop, Amphitheatre, rooftop amenities like Barbeque and Dining area, gaming zones, Viewing Decks and more. All these facilities right at the doorstep makes each day of life a fun and joyful experience, exactly what the millennials desire.

Comfortable Living

Comfortable living - Best Real Estate group in Chennai

High paying jobs are demanding both in terms of the quality and quantity of work hours. When the work gets demanding one desires comfort at home that helps them achieve the perfect work-life balance. Trendy flats for sale in Chennai from innovative developers provide New Gen amenities that are just what these Next Gen home buyers need from their home.

Departmental stores within the Gated community to help with all the everyday needs, round the clock availability of maintenance personnel to attend to any electrical or plumbing needs, co-working space in the Club house and in the roof-top to stay cheerful during the otherwise boring WFH days, and many more.  These are just a few of the many thoughtfully created amenities that make life easy and comfortable for these young homeowners.

Better Safety & Security 

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Young homeowners desire to enjoy better fool-proof security at home. With able security guards at the entrance 24*7, CCTV Surveillance, visitor management system for screening visitors and all service providers like domestic help, cooks, car drivers, etc., modern Gated Community apartments offer multiple layers of security to the residents of the community, making them the natural choice of the young and smart home buyers.

When away from home at work they do not wish to be bogged down by the safety concerns of those at home, and they get better assurance of safety and security from these thoughtfully built apartments in Chennai equipped with solid safety measures.

More Pocket-Friendly

Pocket friendly - Best Real Estate Investors in Chennai

Millennials are smart investors and carefully plan their investment in a way that does not drastically change their preferred way of living. Millennials prefer to invest in homes that do not consume a major portion of their savings and whose EMIs can be easily accommodated within their monthly salary. This will give them the liberty to continue activities they generally enjoy, be it their regular restaurant visits or vacation getaways.

Premium Gated community apartments in Chennai located in emerging Micro markets like OMR, Thirumazhisai, Guduvanchery are available at a much buyer-friendly price and also offer many modern amenities which cannot be enjoyed in individual homes. 

Better Prospects of Appreciation & Rental Income

Better appreciation - Best Real Estate Investors in Chennai

Apartments in the IT-corridor, OMR, have appreciated phenomenally over the past decade. Available at a very buyer-friendly price these flats not only guarantee excellent Returns on Investment but are also much in demand amongst the professionals employed in the numerous IT and ITeS industries along this stretch, thereby fetching good rental returns. 

Located in emerging markets which are well-connected to the rest of the city, have good transportation facilities and guarantee a comfortable living, trendy apartments in Chennai equipped with modern amenities that make life easy and comfortable. They are the obvious choice of Millennials, and this comes as no surprise considering the many valid reasons stated above.

The city of Chennai offers exclusively built New Gen apartments designed to satiate the needs of the Millennials, check out these sprawling Gated Community homes  equipped with a plethora of amenities that help realize the dream of luxury.

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