3 Key Factors That Boost Real Estate Activity among YouthMay 12, 2018
The youth of today are not just technologically advanced like the popular misconception but also display a keen interest in real estate identifying the immense investment opportunities in it. The average age of home buyers has come down drastically due to the surge in the financial independence of the young population. And many are aspiring to be property owners even in their late 20s and 30s.
Here are some of the key factors that boost real estate activity among youth.
1. High disposable income
Young professionals from premium institutions often receive an initial salary of more than Rs. 15 – 20 lakhs a year. And those who work in mid and senior managerial positions are offered even more. This hike in earning enables them for greater purchase power and helps the young population affords a house very early in their lives.
2. Home loan
Availability of home loans has also made youth keen on entering the property market. High disposable income and young age make them ideal candidates for long tenure home loans. Banks have even increased the home loan tenures up to 30 years as a boost to aspirational young home buyers.
3. Tax benefits
Tax incentives offered on home loan repayments along with the tax deduction for principal repayment on a home loan and the tax deduction for payment of interest have also encouraged home buyers to participate in real estate investment.
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