Most millennials look for a safe place to live in according to OLX

A new research by OLX and Kantar TNS highlights that home buying trends are being influenced by the ease provided by online property platforms, and the entry of millennial buyers in the market. The benefits of online in handholding a property-seeker in the initial journey of shortlisting a property, contacting a seller/ broker has resulted in online becoming the starting point for 80% of property seekers.

The research was conducted with more than 600 respondents in Delhi, Bangalore, Hyderabad, and Thiruvananthapuram by Kantar TNS, a leading market research firm. The survey interviewed people who were looking to buy a home in the next six months, and sought to understand the user behaviour in an evolving real-estate market.
Why are millennials buying homes

According to the research, most people primarily want to buy a home because they consider it to be a good investment, with 65% of the respondents stating that it was the main trigger for them to consider purchasing a home.
This was closely followed by 60% of the respondents, who said that they want to buy a home in order to move to a safer locality, and 58% percent who said that space and a bigger home were the key triggers for them.
Millennials desire a safe and secure locality

Looking at various age-groups, the survey revealed that for 51% of the millennials between 30- 34 years of age, the need for security and safety of the location mattered the most, closely followed by the wish to make a safe investment. Those between 35-39 years also placed most importance on safety and security of the location. For 40-49 year olds, safety of the investment was the biggest consideration. Sixty-four percent of the respondents between 50-55 years of age wanted to buy a new home as their current home was unable to meet their changing requirements.