In this Post
How Millennials in Pakistan Do Home Hunting
How Millennials Promote Highrise Developments
Zameen Aurum is An Ideal Address for Millennials
Born between the early 80s and 2000s, millennials, also known as Generation Y, are best known for their tech-savvy and result-oriented approach. According to a report published under the banner of the United Nations Development Programme (UNDP), Pakistan is one of the world’s youngest countries with a large percentage of millennials in its population.
It has been observed throughout history that every generation profoundly impacts its surroundings, one way or the other, shaping up the societal norms. Needless to say, things are no different in the case of millennials, in fact, they have gone way beyond conventions.
Generation Y is not only influencing the world around them but has also triggered a never-ending wave of changes and adaptations, thanks, in part, to their experience of growing up with technology at their fingertips.
Millennials Approach for Home Hunting in Pakistan
Since even the youngest millennials have now entered adulthood, they have swarmed the country’s real estate market as property hunters, redefining its scope and the way it behaves. Architects, developers, and planners are also shifting their focus to come up with the most in-demand types of properties, ensuring the right demand and supply balance in the local property market.
Often deemed a ‘lazy’ generation, millennials, on the contrary, as home buyers, prefer a unit that’s easy-to-maintain and doesn’t require too much time as far as cleaning or repairs are concerned. Since this generation is essentially the pioneer of the fast-paced life we’re all living, time is of the essence. Less space means less mess; less mess means less time spent on sweeping, dusting and mopping surfaces. Plus, you can easily opt to do the maintenance on your own and avoid spending money on hiring help.
Another reason behind why millennials prefer apartments is that they often come in well-facilitated buildings. For example, if there’s an electricity issue, it will most likely be taken care of by the authorities looking after its upkeep.
Apartment living also brings a lot of security. You don’t have to hire security guards and more often than not, flats come with installed CCTV cameras. Again, it’s a very convenient situation for someone who’s not at home for 10-14 hours a day.
Last but certainly not the least, apartments are arguably the only practical option in terms of affordability. Millennials in Pakistan, considering the rate of inflation, can’t afford houses in this day and age. While it’s not totally impossible to own a house, one needs a considerable amount of time to buy a house if they’re, for instance, a 30 or 35-year-old earning 50k to 100k per month. One can rent or buy an apartment far more easily and quickly on the same payscale.
Owing to all of these lifestyle criteria, apartment living, apparently, turns out the best choice for millennials in Pakistan. This can be a possible reason behind a significant uptick in the demand for apartments in Lahore, Pakistan’s second-largest metropolis.
How Millenials Are Dictating High-rise Developments Trends in Urban Downtowns
Fueling the urban apartment surge, millennials’ approach towards housing trends in Pakistan comes across as being in conformity with the government’s vision for vertical cities. In the wake of this significant upswing in urban living, new high-rises are sprouting up in rapidly-progressing downtowns like Gulberg in Lahore.
The neighbourhood has witnessed a tremendous boost in the property value with a growth of up to 50% over the last couple of years. Besides, the neighbourhood now stands as the fifth most popular area among apartment buyers in Lahore, according to the user data fetched from Zameen.com.
Furthermore, the data suggests that apartments in the area have observed a staggering price rise of 118% during the same time period. Owing to all these factors, Gulberg is drawing the attention of property investors as it braces for the upcoming investment waves.
With a more active take of millennials on urban downtown living, a world-class vertical residential project like Zameen Aurum will quintessentially cater to this new housing paradigm. The project is being developed as a brilliantly structured high-rise and will be equipped with state-of-the-art features—appearing to be custom-made for millennials.
What Makes Zameen Aurum an Ideal Residence for Millennials?
Factors like the recent urban housing upswing and real estate investment shift from plots to highrises are promoting apartment living in Pakistan in every sense. Easier transit access, as well as proximity to retail and business hubs, dramatically cuts travel time and transportation cost. And, also when it comes to community living, apartment culture, is arguably, highly preferable in this regard, owing to the fact that in-house amenities and recreation facilities have become a regular feature of modern-day apartment projects.
A high-end apartment complex like Zameen Aurum rightfully ticks all the checkboxes when it comes to some of the key reasons why millennials prefer apartment living in Pakistan. Owned and constructed by Zameen Developments, Pakistan’s most prestigious real estate development company, this grand-scale vertical residential project has been designed and developed with all the essential features for high-end apartments.
When hunting apartment homes for themselves, the primary concerns of millennials are security, location, and convenience. Zameen Aurum proudly accomplishes all these modern living aspects. The residential tower enjoys an excellent location connected with the main MM Alam Road, right adject to PAF complex in Gulberg III, and has been equipped with robust security measures, and most importantly it comes with attractive payment plans.
Conclusion: After shedding light on all the aforementioned information, we can safely conclude that millennials consider apartment living as convenient and practical alternative to dwelling in large urban houses, which, according to them, increases the dependency factor and cost and hassle of maintaining an entire house, keeping in view all the metrics involved in owning and maintaining a property.
Note: If you want to learn more about this promising high-rise apartment project being developed in Gulberg, take a look at the webpage of Zameen Aurum or simply get in touch with the property industry experts by calling Zameen.com’s 24/7 sales centre, simply dial 042-111-333-333.
To read more about the crucial insights into Pakistan’s real estate market, keep reading Zameen Blog, and subscribe to our e-newsletter to get all our latest updates.
