Always a generation of change-makers, Millennials are now shaking up real estate like never before with their unconventional preferences. The desire for connected, urban-centric environments invariably drives property decisions. From preferring work-play communities to shorter commutes, Millennials are forging a seismic shift with long-lasting market alterations. But the full magnitude of this influence is still unfolding…
The decline in traditional home ownership, with many opting instead for rental housing, is a testament to an era valuing flexibility over legacy assets. And if you thought renting was a dying trend, think again! But what is it that compels Millennials to turn their backs on conventional norms? The answer might surprise you…
Investors and developers looking to harness the Millennial market should focus on properties that cater to lifestyle and convenience. With clever use of technology, they’ve also set expectations high for real estate practices. But don’t be too quick to write off tried and tested strategies—they might just be in for a new twist.
Nevertheless, the grow-at-all-costs mentality lands these properties at a crossroads with communities. As we analyze this vibrant generation’s impact on development, what unfolds may just redefine how we approach future buyer demographics and trends.