Times, oh how they’ve changed. From eating habits to lifestyle, everything is in a kind of metamorphosis and those responsible for this change are the Millennials. And when it comes to their real estate buying choices, here too, they are breaking old norms.Millennials have forced the market to come up with new ideas, products that suit their choices. A surge in the demand of 1 BHK and studio apartments is a proof of that.

But why do they love these apartments? Well here are the reasons for this choice-

1- Location, Location, Location!

Gone are the days of buying a villa in the outskirts of the city, from where even a decent restaurant was at an hour’s drive. The millennials have cracked the code, or you can say adopted the manhattan model of living. They prefer a space that is strategically located near to work, social and cultural places of interest.

2- Duh! Its Economical

Although saving money is one of the most obvious reason one might think for buying a 1BHK, an economical home is not exactly the primary motivation of millennials. Their motivation is value for money which the location makes up for. Despite the popular belief, millennials are turning out to be really smart spenders.

3- Save On Space Not Style

Yes, 1BHK homes are cozy but that doesn’t mean they are not smart. Millennials are going out on a limb to buy homes that are extremely stylish and utilize the space in the best manner. That Minimal design, contemporary architecture and future proof built is the new trend.

4- Easy To Maintain

It’s a no brainer that a small house makes it easier to maintain without hiring any domestic help. Having a large home is of no use to a small family if they cannot maintain it properly. This kind of smart thinking is what makes 1 BHK a popular choice.

5- Perfect Space For Small Family

Millennials born in late 80s and early 90s are getting married now and starting nuclear families. Since they are budget and future conscious, they plan a small family and look for a cozy space. Something that makes them feel warm, comfortable and content.

In the present and in the foreseeable future, the biggest decision makers of this millennium would be the millennial generation. Therefore we’re going to see a significant rise in properties like Pramukh Sneh, located in Silvassa. These 1 BHK homes are stylishly designed, smartly built and strategically located to attract the future decision makers of this country.

References:

1. http://www.air.org/sites/default/files/downloads/report/Outdoorschoolreport_0.pdf
2. http://journals.sagepub.com/doi/abs/10.1177/0956797612464659

Prashant Bhatu
Director – Business Development
Pramukh Group