Every few years, there is a shift in thinking and market perception, that comes along with a new generation of buyers. The latest generation of smart, entrepreneurial young minds, referred to as the Gen Z, is the one raising heads and high hopes for the future of all industries. This Gen Z energy has not escaped the real estate industry as well. With the youngsters recognizing the importance of stability, sustainability, and self growth, real estate investments are sure to see a boost in the near future. There are a lot of factors that make the zellennials, as the Gen Z’s are called, the best upcoming market of buyers.
1. The Growing Economic Power
Their economic power is the fastest growing among any generation we’ve seen, according to the Bank of America. Such predictions of tremendous growth should urge investors to start preparing themselves for the disruption in every industry, that this shift will bring.
They are predicted to hold more than a quarter of the global income by 2030, thus making them the prime investment candidates who will be responsible for the growth in the real estate industry, as well as others.
As the Gen Z’s become financially stable, it is natural they would want to look into smart investment options, like buying real estate properties, to get a good return.
2. The Cultural Shift
The Gen Z, or zellennials are a generation of tech savvy individuals born into the online world. They look for easier and smarter solutions to problems and prefer the fastest ways to finish a task. Today, all industries, especially real estate, are going digital and executing deals online.
This generation is now entering the workforce and compelling other generations to adapt to them. They are the ones who will break trends, and are not afraid of venturing into new things. So all the age old myths of real estate being suitable only for mature, established and experienced people, will not deter these young individuals from investing in what seems to be a good opportunity for them.
3. Quality over Price
Gen Z focuses on environmental and social facets of life. They recognize the power of sustainable living and downsizing. They would prefer to live in homes that are eco-friendly and do not contribute to their carbon footprints. With the real estate industry introducing these options nowadays, it is very likely that there will be an eager market for such environmentally sustainable living options.
This is a generation which when presented with a smart investment opportunity, will look for quality and an alignment with their values, over price, while making a decision. In the real estate industry, such sound decision making and abundant risk taking qualities are what leads to profitable deals and eventually to the growth of the enterprise.
So if you are a zellennial looking for an investment opportunity, or just someone with the kind of thinking that matches with these young minds, the real estate industry is chock full of options. All you need is a little bit of knowledge and guidance. We at Blockrise, are here to provide just that!
“Buy real estate in areas where the path exists and buy more real estate where there is no path, but you can create your own.” – David Waronker