December 1st, Author: Varma
The new generation is dynamic and does not like to fit into a limited space called home. They would rather prefer ‘homes’ to adapt and accommodate their lifestyle. These latest trends are redefining real estate trends of 2020.
Unlike the previous generation, ownership of a house is no more an ultimate goal in life. It is now a part of the tech-savvy and connected lifestyle. People now prefer urban locations with great connectivity and infrastructure; homes that are closer to the workplace, which also permit them to engage in social activities and dwell in luxury at large.
In this blog, we’ll take you through some of the new-gen real estate trends of 2020 that are redefining residential and commercial space in the Indian real estate industry.
Value for Money
Like cost-effectiveness, the utility is as much a priority for the new generation. This is why the idea of micro-living or co-living spaces has become important for some. High-quality micro-homes make perfect sense in a space-constrained metro city like Hyderabad.
Co-living facilities offer people well-equipped accommodations without having to bother about maintenance. Moreover, young professionals spend almost 75% of their time outdoors and therefore investing their hard-earned money on something they hardly use makes no sense until they settle down and expand their families.
No compromise on quality
Technology has been the greatest boon of the new generation. It has given them so much exposure that they tend to make quite matured and informed decisions even at younger ages. They also value transparency more than anything else.
This set of new-age and high-tech buyers are adept in online research and are therefore well prepared to enter the real estate market. That’s why they are able to choose quality over fake promises. Most of this young generation, therefore, prefer to move into homes that are ready for possession rather than book and wait for under-construction property.
Always in search of a better lifestyle
Comfort and self-expression are of utmost priority for this new generation trendsetters. They seek residential spaces that reflect their lifestyle and add to their social profile. This is the reason as to why they choose smaller but theme-based apartments to big and luxurious bungalows.
The evolving needs of this dynamic new generation are also one of the reasons why a robust online presence and good reputation is a must for real estate developers to appeal to this market.
Eco-friendly is an unavoidable trait
This is a very progressive and quite an impressive mindset of the modern generation that they are well aware of the issues facing mankind including climate change.
The young generation demands energy-efficient homes and does not shy away from paying extra for sustainable living spaces. This rising demand for sustainability has increased the number of builders coming up with eco-friendly and sustainable homes.
Soon sustainable residential spaces could be a dominant force in the real estate market in the next few years. For property developers, this will be a challenge and at the same time, an exciting opportunity.
Ease of Living
Boundaries between home and workplace are fast blurring. People nowadays look at everything from a convenience point of view. They prefer an urban location featuring good infrastructure while searching for a new home that is close to their workplace. This allows them to indulge in social activities as well.
Ease of technology is also a crucial factor that allows many IT professionals to work from home. The modern homebuyers prefer everything smart, including their homes.
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