Millennial nowadays is a typical word that more and more we start hearing on the new market trends. So we will talk about these groups and the implication for a Real Estate Developments who wishes to tackle this group.
Let’s start by mentioning what is considered a millennial, well it is a group of people defined as those born in 1982 and approximately the 20 years thereafter.” In 2012, they affixed the endpoint as 2004. (According to Neil Howe and William Strauss).
Today most of them are in the age of the mid 30´s and teenagers which is very likely to be thinking about buying a real estate property, and I said “thinking” because one of their characteristics in their mindset is that they are not too worried about future so a house is not the first to do item on their to-do list.
This is why it is so important to understand that millennial is a collective trend, not just a small segment and the more we understand their behaviour and interests the more we will succeed attracting them to our developments and make them shine.
Millennial value freedom
Now the experiences are way more valuable for millennial than ever, travelling is not anymore, a luxury but a need like breading, freedom for them is to be part of everything without strings attached to anything.
The desire of sharing
Millennial are looking for sharing with others they are not shy and finding themselves in the middle of unknown people brings value to their lives, they are happy to attend to festivals and massive events, valuing being surrounded by multicultural and new experiences.
Work and do activities on which they are passionate.
People now value more and more the work that they perform and the reason to do it. The intellectual motivation is more valuable than money.
Life as a chain of little moments as their new lifestyle
Some of us we might be looking at their smartphones more than 200 times a day and each of those moments represents part of their live and social activities. Now that digital technologies are part of our life we want to experience it in that way, willing to live life trough short moments with no strains attached.
They do want to make a change
The desire of being part of a group of social life is very important, the identity of being part of something and leave their footprint in it is important for them.
The desire to look for our right spot in the right community on which we might find ourselves defined. And we wish to consume products to be part of that group.
The interest to get back the healthy lifestyles and the human wellness.
They want to dare the human morality and being more mindful about the inside of each of us, they are tired of the destructive processes and the lack of conscience for the environment.
The now is the moment to live life, so the planning is not one of the priorities.
Instead, it is valuable to experience new emotions and explore non-conventional paths to get to the point in which we feel
They tend to dare standards
So they are not fitting totally with the lifecycle of growing up buying a house and have some kids. Now we can see the return of the love for the craft made, authentic and vintage valuing the
background of things an event.
Millennial experienced the greater digital changes and they had to make their lives as part of it, this brings them to the point on which a digital life is as natural as it can be. They dedicate time to the Internet more than to other communication mechanisms. And most of this interaction comes through their smartphones. The long hours behind a desktop are more and more forgotten. The use of data is more a need rather than an option for life but also for business.
Egocentrism is part of life and the sophistication comes by personalization, the programmatic technologies help more and more on which products and services are shown in a highly tailored expression. They want to be heard and the products and services must be according to their personal needs.
Green business and philanthropy are a must for business, give is more and more relevant give instead of receiving makes things better for them, make business willing to help not just for profit.
A vision with human sense and with a worldwide vision and a strong commitment to help and to support others is the new age which is being taken over by the millennial in their new world.
We have to listen to what millennial have to say so that we can trigger more successful real estate developments that attract this new collective trend.
*Alain Falcon Empire Leads is a master in the business area and has brought to the real estate industry great expertise and knowledge that sells faster your development.
If you have a Project struggling to get the right ROI don´t hesitate to contact him firstname.lastname@example.org
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