51% millennials willing to spend more than 25% of income on fully managed housing rental accommodation: Survey

Over 50% of millennials are willing to spend more than 25% 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% of the respondents are willing to spend less than 25% of their income on managed rental accommodations.

Nearly 41% are willing to spend 25-30% while 10% respondents are ready to pay more than 30% as well.

For over 60% 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% of millennials go on vacation twice a year, and 25% go once a year.

The survey also highlighted that 44.86% of millennials choose to stay in 3-4 star properties, 26.26% 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.