Advertisements

Property? Millennials may not be that positive but Generation Z will be buying!

Do you think the younger generation love to go for vacations or buy a property? I think it’s the former, most of the time. It’s so hard for me to decide to go for overseas holidays because of the financial part but I can safely tell you that I envy the younger working professionals. They seem to have been to MANY countries even before they reach 30 years old. For example, Japan? It’s a common destination. Maldives? Usually a destination to RELAX… Hong Kong? Been there a few times…  Then again, perhaps that’s because they did not think of buying a property yet, thus have lots of money to spare. Here’s one recent article about the Millennials and Gen-Z.

Who are the Millennials? There are many different interpretations but here’s one by PropertyShark.com: Property Shark defines the newest generation to reach buzzword-happy marketers as those  born after 1995 into a fully digital world. Millennials were considered those born between 1981 and 1994 and Gen Z as those born between 1995 and 2010. Okay, if we look at age, the Millennials are currently between 24 – 37 years old. (Nope, I am not within this category. An earlier article about my generation here. The Gen-Z are meanwhile those between 8 to 23 years old. Okay, could these people afford to buy a property, yet? According to the article in PropertyShark.com, the target for real estate professionals has always been the millennials but it is suggesting that itis time to focus more on Generation Z.

The reason? All signs are pointing to the fact that Gen-Z are more optimistic in homeownership versus the Millennials. In fact,its survey showed that the younger cohort is remarkable in its positive feelings towards real estate investing. In the survey, 83 percent of Gen-Z respondents planned to purchase a home within 5 years. Millennials who have been renting for years are less positive. Now, the survey also showed that 100,000 Gen-Zers ALREADY OWN PROPERTY, despite the oldest of them all just 23 years of age. Other takeaways from the study include:

  • Gen X chooses intergenerational living to care for relatives more often than any other generation
  • Gen Z is willing to compromise on almost anything to keep costs down — but still aspires to have ample space and amenities
  • Gen Z will pose serious competition to millennials on the real estate market

So, kopiandproperty.com readers, what are your thoughts? Here’s what an earlier survey showed: 85% will still buy a property, as per kopiandproperty.com readers. Happy following.

written on 14th Oct 2018

Next suggested article: Property investment is not sure win. Caution needed.

 

Advertisements

kopiandproperty.com

kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.

Related Posts

Property prices falling: excess supply and cooling measures

This was reported by a UK-based newspaper, Financial Times (FT) about the property prices here in Kuala Lumpur. It said that the reason for average sales dropping by 4 percent since last July is because of two reasons; excess supply and domestic cooling measures. Judy Ong of Knight Frank in Kuala Lumpur said, “The inflation […]

Read More

7 things to do while waiting for property bubble to burst

I have quite a number of friends who laughed when told about the potential property bubble bursting. They earn their living from the real estate industry. I also have a few friends who are confidently telling me that when the property bubble bursts, they will enter the property market and buy all the properties at […]

Read More

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Property investment news everyday? Subscribe for free!

An article a day, keeps you updated all the way.

Join 903 other subscribers

LIKE us for property news update, FREE.

%d bloggers like this: