Demand Driven by Job Growth and Lifestyle Shifts
Despite stagnant salaries, Gurugram’s real estate market is thriving. According to top real estate broker Sandeep Shikhrani, the surge in property purchases isn’t fueled by salary hikes but by job growth and lifestyle changes.
Gurugram continues to attract professionals due to its expanding IT sector and improved infrastructure. With new companies setting up offices and startups emerging, employment opportunities are rising. This job influx directly translates into housing demand, even if individual incomes remain flat.
Pent-Up Demand and Migration Trends
The pandemic created a backlog of buyers who delayed home purchases due to uncertainty. Now, that pent-up demand is being released as confidence returns. Additionally, people from smaller cities and neighboring states are moving to Gurugram for better career prospects, further boosting the market.
Affordability Through Lower Interest Rates
Home loans are more accessible than ever. Low interest rates have made mortgages cheaper, encouraging first-time buyers and investors alike. Many are choosing to buy rather than rent, seeing property ownership as both a necessity and an investment.
Shift Toward Affordable Housing
Buyers are adjusting their expectations to fit within stagnant income levels. There’s a clear trend toward affordable and mid-income housing, with developers focusing on budget-friendly options. Premium properties still sell, but the real growth lies in accessible price segments.
Real Estate as a Hedge Against Inflation
Amid rising inflation, many see real estate as a stable asset. Property values in Gurugram have shown resilience, making homeownership a smart financial move. Investors are also stepping in, betting on future appreciation.
In summary, Gurugram’s real estate boom is not about rising salaries—it’s about jobs, shifting priorities, and favorable financing. As long as employment remains strong and homes remain affordable, demand will continue to grow.
Source: business today