Millennials are people born in the 1980s and 1990s. The age range might vary a little as the hardcore age brackets are not defined. The current economic landscape has not allowed this young generation to be able to thrive. Gen X, the one before the millennials (Gen Y) was fortunate to own their first real estate in their 30s or 40s however the millennials cannot imagine owning anything substantial, let alone high-value real estate. You may say that this is a mass generalization but the millennials reading will relate to this hypothesis.
The Financial Profile of Millennials
Millennials are currently in their 20s & 30s, either studying or in their early to mid-career positions. Some are trying to start or run their businesses and some have become part of the corporate workforce. A lot of them are still looking for the right opportunities to either kick-start their careers or excel in respectable career positions.
In this day and age, earning from the Internet is a viable option. People are doing social media influencing, online selling, freelancing, and non-conventional business models to earn their livelihood. IT startups, BPO ventures, and online arbitration are some trending businesses that end up churning dollars rather than Rupees. Traditional businesses like trading and brick-mortar outlet management are still strong but dwindling fast. The world has changed rapidly in their lifetime.
The economy has been tested several times with the 2002 dot com crash, the 2007-08 global recession, the 2020 COVID economic reset, and the current looming economic meltdown. In the current situation, Millennials are finding it hard to save enough money and hedge their future against the current economic crisis.
Following are some investment opportunities for Millennials in the Real Estate Sector of Pakistan.
Buy low to medium-cost, high-return residential apartments on Installments
Metropolitans of Pakistan are going vertical at a rapid rate. The breadth of cities has become so big that living on the outskirts and conducting business downtown is no more viable. The best bet is to invest in apartments that are up for grabs in the strategic locations of the city. With installment plans as low as PKR 20K a month, it’s a bargain price for millennials. The value of apartments gets appreciated regularly.
The rental value of the city is also going up at a rapid rate giving good returns to the owners of our economic fabric. State-of-the-art amenities offered by the developers have made apartment living fun. Since millennials want to live a compact, independent, and happening life, apartment living is tailor-made for them.
Here are some amazing low to medium-size projects you can invest in:
- 102 by Icon Lahore
- Beach Resort by Icon Lahore
- Al Rafi Heights Islamabad
- Boulevard Heights Multan
- The Mega Mall & Residency Karachi
- Spring Arch Rawalpindi
Buy Townhouses for compact living
Townhouses are compact spaces built for community living. Usually, these buildings have 3 stories of independent units stacked in a way that multiple households can occupy smaller spaces. Townhouses offer low-cost housing and a minimalistic living style. These houses will give small families with lower income brackets a chance to live in a harmonious environment promising safety and security.
Since millennials are in the early stage of their careers, they can easily afford these townhouses and the living style also supports their smaller families. Also, it is notable that the availability of such units is low thus the rental value is pretty high.
For example Central Park Townhouses Lahore is one project up for grabs.
Buy small commercial units with Smart Installment Plans
Buying small-size commercial units is a great proposition for Millennials. Kiosks and mall shops, promise high rental returns or a great opportunity to start a new business. These smaller commercial units are less expensive to acquire and through smart installment plans, can be owned by giving small chunks of cash per month.
Visit the following links to explore these low-cost, high-output commercial units:
- R&M Tower Lahore
- RJ’s Square Islamabad
- Zameen Ace Mall Islamabad
- Anaya Royal Residency & Shopping Centre Karachi
- Boulevard Heights Multan
- Roman Grove Islamabad
Buy Guaranteed Rental Hotel & Serviced Apartments
Guaranteed rental property is a relatively new real estate concept that allows owners to earn pre-assured rent as part of the contract. This amazing inventory gives assurance of return in the medium to long term by one of the top hotel chains or facilities management companies of the world. This means that if a young professional invests here, he or she will have a steady income on the side.
This will give these free spirit millennials chance of experimenting with their careers without worrying about financial sustenance. While you are getting a promised amount that grows each year, the value of the unit also appreciates exponentially due to its commercial utility.
Check out the following projects if you want to invest in these high-future-value projects.
Millennials need to think faster and smarter if they want to own their first real estate asset. This will be their chance of experiencing possession of something of their own. This will kick-start their drive for the future and will flare up their craving for economic stability and financial independence. So Millennials, what are you waiting for?
