Millennials are looking for housing

Millennials are looking for housing

2020/02/10Domótica

Millennials are looking for housing

The generation of those born between 1981 and 1995 (Millennials or Generation Y) is now entering a more mature phase of life, with the insertion in the labour market and the demand for housing. 
With characteristics, behaviours and desires very different from previous generations – fruit of growing in a time marked by permanent technological advances, globalisation and economic recession – these young adults are buying real estate and shaping the architecture of housing to their wishes.

But what exactly are the millennials looking for?

Characterized by being a generation that was born and grew with technology, as recalled in a study by Coldwell Banker, Millennials tries to transport this aspect to their homes, looking for technological and smart homes – integrating convenient features, such as automatic regulation of light and temperature levels, direct communication with mobile applications, automatic opening and closing of doors. These young people even prefer to give up space but have an intelligent home.

The concern with the environment is another characteristic that distinguishes Generation Y, so dwellings with resources that save energy, spaces where they can place plants, flowers or pots and a natural lighting that allows them to save energy are highly valued requirements.

With a great spirit of sharing and socialization, this generation is also looking for housing with pleasant common spaces inside and outside the building, where they can interact with other neighbours, shared laundry and apartments that privilege open space, adjustable to the arrival of friends or even the growth of the family. 

Millennials are looking for housing

Aiming for greater agility and flexibility between professional and personal life, this generation seeks a space that allows working from home, that is comfortable, with good lighting and that allows to include solutions for storage and organization. 

In addition to the aspects of housing itself, there are other relevant criteria, namely location and proximity to other establishments. Thus, the walking distance from restaurants, cafes and local shops also weighs heavily on your choice. The issue of health and wellbeing is also paramount in this generation and therefore millennials like to be close to places where they can exercise.

All these concerns and demands have shaped demand, and those operating in the market have to adapt quickly to this new type of customer. 

These requirements are no less important for the construction industry and architecture, as they must adapt their projects to this new generation of buyers.