There has been a strong impact in the past decade not just in the overall buying pattern but also in the age of property buyers. Youths are now starting to buy the property in the country which means that younger Indians with much lower savings kept away from the bank loans seeing them as risky, but also they are very cautious about the purchasing property.
As stated in the report, in Delhi-NCR, it is the other way around for the home seekers. At least 37% home seekers are in the age group of 45-55 years, followed by 26% in 35-45 age brackets. It is the fact that homes are costly and call for huge down payments even if one avails of home loans causes a high percentage of home seekers to fall in the latter age bracket.
Mr. Pradeep Aggarwal, Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development, Founder and Chairman – Signature Global India Pvt. Ltd. said, “Gone are the days when people after retirement dominated for the property market , now younger home buyers in the age group even in 25-35 years are jumping into the fray. So keeping in mind all these, we as a developer are already making dream homes within the reach of youngsters also through affordable housing following the caption ‘Har Parivaar ek Ghar’. ”