Subscribe for notification
Info

By 2030, Millennials and Gen Z to Dominate New Home Purchases in India: JLL Report

India’s residential real estate market is undergoing a transformative phase, with Millennials and Generation Z projected to account for 60% of new homebuyers by 2030, according to a year-end market report by JLL India, a global real estate services firm.

Key Findings from the JLL Report

  • Rise in Urban Homeownership:
    Urban homeownership is expected to increase from 65% in 2020 to 72% by 2025, driven by affordable financing options and the growing participation of younger demographics in the housing market.
  • Tier II and III Cities Leading Growth:
    Smaller urban centers like Jaipur, Indore, and Kochi are emerging as pivotal growth hubs, contributing to more than 40% of new housing developments by 2025.
  • Economic Contribution:
    The housing sector is projected to account for 13% of India’s GDP by 2025, reflecting its expanding role in the nation’s economy. By 2030, the sector is anticipated to evolve into a USD 1-trillion market.

Changing Buyer Preferences and Market Trends

  1. Sustainability Becomes Essential:
    Green-certified buildings, which comprised 15% of residential projects in 2020, are expected to double to 30% by 2025. Certifications like LEED (Leadership in Energy and Environmental Design) are becoming a priority for developers as buyers increasingly value sustainable living.
  2. Tech-Integrated and Smart Homes:
    The demand for smart homes and tech-enabled living spaces is on the rise, as consumers seek modern, connected housing solutions.
  3. Affordable Housing Initiatives:
    Budget-friendly housing remains a key driver of growth, catering to the aspirations of young buyers entering the market.

2024 Performance Highlights

  • Residential unit sales in 2024 equaled 85% of the total units sold during 2023, showcasing sustained demand.
  • Sales increased by 17% compared to the previous year, setting the stage for sustained growth in India’s residential real estate sector.
  • The demand for sustainable and tech-driven homes has significantly influenced property values and buyer preferences, according to JLL.

Future Outlook

With rapid urbanization, technological advancements, and evolving consumer preferences shaping the housing market, India’s residential sector is poised for exponential growth. As Millennials and Gen Z continue to drive demand, developers are focusing on creating homes that offer sustainability, connectivity, and affordability to cater to this influential demographic.

By 2030, these generational shifts, combined with favorable policy reforms and economic growth, are set to redefine the country’s housing landscape.

Nabeel Ahmed

I hold a BBA and MBA and possess a deep-seated passion for news and current affairs. I am a dedicated and results-oriented individual with a strong desire to contribute to the world of news writing.

Recent Posts

Fatal Midair Collision at Reagan National Airport: An In-Depth Analysis of Contributing Factors

On January 29, 2025, a catastrophic midair collision occurred near Ronald Reagan Washington National Airport,…

2 months ago

UGC NET Answer Key 2024 Released for December Session

The National Testing Agency (NTA) has published the provisional answer key for the UGC NET…

2 months ago

A Seismic Shift in AI: How DeepSeek Breakthrough Disrupted the Global Tech Landscape

On Monday, the global AI landscape experienced a monumental shift when Chinese startup DeepSeek unveiled…

2 months ago

Australian Open 2025: Aryna Sabalenka Eyes History with Third Straight Title

Sabalenka Marches into Final, Keeps Dream AliveWorld No. 1 Aryna Sabalenka advanced to the Australian…

2 months ago

TRAI New Rule Brings Relief to Mobile Users with Affordable Calling and SMS Plans

For the past few months, mobile users in India have been expressing frustration over increasing…

2 months ago

Donald Trump Swearing In A Historic Moment for the Oldest US President

Donald Trump, born on June 14, 1946, in Queens, New York, has once again made…

2 months ago