Nearly all business outlook reports now have a section for an increasingly powerful market segment: the millennials. Young adults born between the early 1980s to the early 2000s are included in this segment otherwise known as Generation Y. Millennials are self-expressive, innovative and receptive to new ideas and ways of living. The rapid speed of tech advancements created young CEOs and billionaires as well as millions of millennial entrepreneurs with strong purchasing power. Companies recognize this and are hungry for ideas to tap this young, liberal and rich population. One of the real estate trends for 2016 is the millennial buyer. California-based real estate research group Trulia notes that Gen Yers will be purchasing new homes over the next two years. Most millennial borrowers are building up savings or expecting job raises to enable them to get their own place. “We don’t expect a big rush to jump in, but it’s going to be an incremental improvement,” Trulia econ...
- In 2016, real estate industry players are encouraged to explore emerging millennial buyers, the power of digital marketing and the popularity of shared working spaces.
- The real estate trends of 2016 focus on the young and tech-savvy millennials who value connectedness, sustainability and human touch.
- Real estate trends for 2016 reflect society’s reliance on digital connectivity and pursuit for sustainability. The trends put emphasis on big data, apps and design technologies.
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