Millennials Preferring Large Sized Apartments In Bangalore

A recent survey by real estate research firms indicates that due to good income ratio and exposure to the global world, millennials in Bengaluru prefer to invest in large sized apartments with customized interiors. These homes are available in the newly developed suburbs of Bengaluru due to this the price of the apartments are also affordable. As compared to other tier-1cities, millennials here can easily get a big apartment in the average size of 1260 per sqft.

The report further stated that in Bengaluru, the price of the land parcels is still at the lower side, hence the construction cost of the project is less due to which a homebuyer has to pay less to get a big apartment. For instance, a 3 BHK in Bangalore is available at the price of 80 lakh, while the same in Mumbai costs somewhere around 3 crores.

Elaborating more on the survey report, a realty expert said, “Most of the IT professionals turn their base to the city in order to have better career prospects, due to which majority of homebuyers are in the age range of 30-45 years. Also, with husband and wife both working, the income ratio becomes high due to which the affordability factor also increases.”

These homes are equipped with modern amenities and have a plethora of facilities like gym, pool, kids play area, indoor games, sauna, steam etc. and that’s what today’s millennials want. The climate of the city also plays a crucial role in choosing such apartments or flats or villa, suggest experts.