51% millennials willing to spend over 25% of income on fully managed rentals: Report
51 pc of millennials willing to spend more than 25 pc of income on fully managed housing rental accommodation: Survey
Over 50 per cent of millennials are willing to spend more than 25 per cent of their income on fully managed rental accommodations for a hassle-free life, according to a survey.
Co-living operator Housr has conducted a survey of more than 600 millennials that provides insight into the diverse lifestyle of millennials and their ideal housing preferences, it said in a statement.
As per findings of the survey, nearly 49 per cent of the respondents are willing to spend less than 25 per cent of their income on managed rental accommodations.
Nearly 41 per cent are willing to spend 25-30 per cent while 10 per cent respondents are ready to pay more than 30 per cent as well.
For over 60 per cent of the respondents, luxury, in terms of accommodations, means a fully managed space that includes all necessary amenities.
Deepak Anand, Co-Founder & CEO, Housr said, “We are seeing a shift in the way millennials approach housing. They are prioritizing experiences over ownership and are willing to invest in luxury accommodation that offers convenience, style, and security. "
The survey revealed that 39.48 per cent of millennials go on vacation twice a year, and 25 per cent go once a year.
The survey also highlighted that 44.86 per cent of millennials choose to stay in 3-4 star properties, 26.26 per cent prefer to stay in high-end 5-star properties.
Housr has a portfolio of over 60 properties which include fully furnished rooms in co-living properties including studio spaces and complete 1,2, and 3 BHKs in prime locations.
Currently, Housr has a presence in Gurugram, Pune, Hyderabad and Bengaluru.
In co-living, including student housing segment, Stanza Living, Settl, your space, Colive ,Olive and Nestaway are other key players.