{"id":11623,"date":"2023-08-29T03:02:18","date_gmt":"2023-08-29T03:02:18","guid":{"rendered":"\/blog\/?p=11623"},"modified":"2024-12-18T14:30:13","modified_gmt":"2024-12-18T09:00:13","slug":"why-home-loan-market-for-millennials-is-increasing-post-covid","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/","title":{"rendered":"Why Home Loan Market for Millennials is increasing Post COVID"},"content":{"rendered":"\n

The number of Coronavirus cases seems to have no end these days.\nThe pandemic that forced the world into a lockdown in early 2020 has also\ncrippled the world economy. A recession is nothing new in the history of the\nworld, and this one is also coming with its own share of changes and\nrevolutions. <\/p>\n\n\n\n

One of the most noteworthy areas to look for trends in the real\nestate and home loan market. As the idea of owning and living in a house,\nleveraging property, and much more is changing, so are buying and borrowing\npatterns. Let us first look at the key home loan trends. <\/p>\n\n\n\n

Emerging home loan trends<\/strong><\/h2>\n\n\n\n
    \n
  1. Bengaluru,\n Hyderabad, and MMR (Mumbai Metropolitan Region) seem to be the favourite\n destinations for home buyers. Real estate companies which have increased\n focus on digital operations in these cities are at an advantage. <\/li>\n\n\n\n
  2. The\n key reasons for new home buyers seem to be reduction in home loan rates and\n the need for an added sense of financial security. <\/li>\n\n\n\n
  3. In\n a recent survey, more than 36% of people said that they would prefer\n properties within a sub-45 lakh budget.This is majorly a\n result of depleting personal finances. <\/li>\n\n\n\n
  4. It\n is a fragile time for the economy, so naturally buyers are inclined\n towards sellers who have a reputed brand and pose lesser risk. <\/li>\n\n\n\n
  5. More\n and more people seem to now prefer RTM (ready-to-move) homes. <\/li>\n\n\n\n
  6. Lastly\n but most importantly, millennials seem to be more enchanted with the idea\n of owning a house. Let us find out more about this trend. <\/li>\n<\/ol>\n\n\n\n

    Before delving into the millennial angel, let\u2019s first try to\nunderstand general home ownership and home loan trends in the pandemic. <\/p>\n\n\n\n

    The rising importance of owning a house<\/strong><\/h2>\n\n\n\n
      \n
    1. People\n have begun to realize the necessity and financial security of having a\n stable home as compared to living in rented accommodation. <\/li>\n\n\n\n
    2. Real\n estate is currently a safer and less volatile investment to make rather\n than stocks and other instruments which are highly unpredictable. <\/li>\n\n\n\n
    3. The\n fall in home loan\n rates is only helping these sentiments become stronger. <\/li>\n\n\n\n
    4. Lower\n rates allow for higher prices and bigger homes, provided you have the\n finances.<\/li>\n<\/ol>\n\n\n\n

      Additional Read:<\/strong> Why Do Millennial Women Take\nMore Loans Than Men<\/a><\/p>\n\n\n\n

      Millennials and home loans in a pandemic age<\/strong><\/h2>\n\n\n\n

      Millennials are the favourite target groups for all brands and\nindustries, with good reason. They are India\u2019s core wage-earners, forming 47%\nof the working age population of the country. It is interesting to note that in\nmultiple surveys last year itself, millennials were seen to be accounting for a\nlot of leisure expenses in their budgets as compared to stable investments.\nHowever, that seems to be changing, given the precarious economic situation,\npay cuts, job losses, and family duties. <\/p>\n\n\n\n

      It has been noted that millennials, the free-spirited generation,\nare willing to buy a house and opt for a home\nloan<\/a> more than ever. The number of millennial home loan customers has\nrisen by close to 10%. Here are the key factors contributing to this trend. <\/p>\n\n\n\n

        \n
      1. Millennials\n have disposable incomes, and don\u2019t want to waste any time in taking\n actions necessary for financial well-being. <\/li>\n\n\n\n
      2. The\n increase of digital operations in the real estate and home loan sectors\n has made it more accessible and millennial-friendly. <\/li>\n\n\n\n
      3. The\n demand for a moratorium on home loans has decreased. Millennials are\n trying to make more financially sound decisions. <\/li>\n\n\n\n
      4. Affordability\n is improving thanks to real estate prices having corrected by nearly 20 to\n 25%. These benefits are being given out in the form of either direct\n benefits to or discounts to buyers. <\/li>\n<\/ol>\n\n\n\n

        Additional Read: <\/strong>Changes in Home Loan Interest\nRates After Coronavirus<\/a><\/p>\n\n\n\n

        Conclusion<\/strong><\/h2>\n\n\n\n

        It is surely a great time to buy a house for anyone, millennial\nor not. Savings can be tough in such times. But if you\u2019re lucky enough to\ngather some, you ought to use them wisely and invest in something as permanent\nas a home. A home will serve as not just financial security but also mental\npeace. <\/p>\n\n\n\n

        If you have been worried about finding the right home loan, we\u2019d first suggest conducting extensive research. Once you evaluate all your options in depth, choose the one that suits your financial needs the best. After all, it\u2019s a purchase of a lifetime. <\/p>\n\n\n\n

        One of the most lucrative home loan products is Tata Capital\u2019s Home Loans. These loans are tailor-made for purchasing or constructing your dream home. Extending from Rs.2 lakhs to Rs.5 crores, you can enjoy affordable home loan rates of around 8.50% (terms and conditions apply). You can also easily apply and manage your loan through a home loan app<\/a> for a seamless experience.<\/p>\n\n\n\n

        Apply For House Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

        The number of Coronavirus cases seems to have no end these days. The pandemic that forced the world into a lockdown in early 2020 has also crippled the world economy. <\/p>\n

        Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":11624,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-11623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-home"],"yoast_head":"\nWhy Home Loan Market for Millennials is increasing Post COVID - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Millennial Home Buyers: Rise of millennial home loan customers due to the pandemic. Read here to know about the demand for home loan markets & Real estate!\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Home Loan Market for Millennials is increasing Post COVID - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Millennial Home Buyers: Rise of millennial home loan customers due to the pandemic. Read here to know about the demand for home loan markets & Real estate!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-29T03:02:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-18T09:00:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/09\/home-loan-market.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/\",\"name\":\"Why Home Loan Market for Millennials is increasing Post COVID - Tata Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2023-08-29T03:02:18+00:00\",\"dateModified\":\"2024-12-18T09:00:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Millennial Home Buyers: Rise of millennial home loan customers due to the pandemic. Read here to know about the demand for home loan markets & Real estate!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tatacapital.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why Home Loan Market for Millennials is increasing Post COVID\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/\",\"name\":\"TATA Capital Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\",\"name\":\"Tata Capital\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"caption\":\"Tata Capital\"},\"sameAs\":[\"https:\/\/tata-blog.osian.dev\/blog\"],\"url\":\"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why Home Loan Market for Millennials is increasing Post COVID - Tata Capital Blog","description":"Millennial Home Buyers: Rise of millennial home loan customers due to the pandemic. Read here to know about the demand for home loan markets & Real estate!","robots":{"index":"noindex","follow":"nofollow"},"og_locale":"en_US","og_type":"article","og_title":"Why Home Loan Market for Millennials is increasing Post COVID - Tata Capital Blog","og_description":"Millennial Home Buyers: Rise of millennial home loan customers due to the pandemic. Read here to know about the demand for home loan markets & Real estate!","og_url":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/","og_site_name":"TATA Capital Blog","article_published_time":"2023-08-29T03:02:18+00:00","article_modified_time":"2024-12-18T09:00:13+00:00","og_image":[{"width":770,"height":400,"url":"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/09\/home-loan-market.jpg","type":"image\/jpeg"}],"author":"Tata Capital","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tata Capital","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/","url":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/","name":"Why Home Loan Market for Millennials is increasing Post COVID - Tata Capital Blog","isPartOf":{"@id":"https:\/\/www.tatacapital.com\/blog\/#website"},"datePublished":"2023-08-29T03:02:18+00:00","dateModified":"2024-12-18T09:00:13+00:00","author":{"@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a"},"description":"Millennial Home Buyers: Rise of millennial home loan customers due to the pandemic. Read here to know about the demand for home loan markets & Real estate!","breadcrumb":{"@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/why-home-loan-market-for-millennials-is-increasing-post-covid\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tatacapital.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Why Home Loan Market for Millennials is increasing Post COVID"}]},{"@type":"WebSite","@id":"https:\/\/www.tatacapital.com\/blog\/#website","url":"https:\/\/www.tatacapital.com\/blog\/","name":"TATA Capital Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a","name":"Tata Capital","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","caption":"Tata Capital"},"sameAs":["https:\/\/tata-blog.osian.dev\/blog"],"url":"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/"}]}},"featured_image_url":"https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/09\/home-loan-market.jpg","_links":{"self":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/11623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/comments?post=11623"}],"version-history":[{"count":5,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/11623\/revisions"}],"predecessor-version":[{"id":47024,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/11623\/revisions\/47024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media\/11624"}],"wp:attachment":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media?parent=11623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/categories?post=11623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/tags?post=11623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}