Demographic / Behavioral factors
Â
- Growing concept of nuclear families than the joint families necessitating need for housing units as well as other items of consumer durables.
- Increased number of dual income families resulting in higher income and savings.
- Increased demand for dwelling units due to gradual shift of population from rural/semi-urban centre to urban/metro centre for employment.
- Shift in the attitude of the Indian household from “save and buy’ theory to a `buy and repay’ principle.
- Increased middle-income segment and their income levels.
- Emergence of new sectors such as Information Technology, media, etc. In the economy that resulted in higher income opportunities and major impact on change in urban consumption pattern.
- Awareness and sophistication in urban and semi-urban households for urban convenience. Social security and status have also contributed to higher demand for housing units, cars, etc.
7 Comments