The Generation Y and Z trends have become a hot topic in real estate that are too important to ignore as these buyers or renters have their own preferences which are drastically different from what their parents – the baby boomers - wanted when they entered the market.

Gen Z refers to those born between 1995 and 2010 and the oldest of the Gen Z demographic are now 25 which would have acquired spending power and started to look for a home to buy or rent.

Meanwhile, Gen Y, or the Millennials are those who were born between 1985 and 2004. They are quickly becoming a dominating force in the property market today by outnumbering the baby boomers.

These young populations are actively changing the housing market as a whole and creating new trends in the market.

As a property seller or landlord, you can definitely see a more profitable outcome in your deals if you could lean into these trends.

Compact size but with smart and “canggih” features 

Many Gen Ys and Zs are waiting longer to get married and have families than their baby boomer parents in general.

With this in mind, they think it is impractical for them to own a large space that won’t be used much and hence would prefer a cosy living space within an established location.

If you want to attract them to buy or rent your property, it is best to furnish your property with some “canggih” features such as smart home products, stylish furnishes and fittings and (most importantly) high-speed WiFi connection.

Compact size but with smart and “canggih” features 

Many Gen Ys and Zs are waiting longer to get married and have families than their baby boomer parents in general.

With this in mind, they think it is impractical for them to own a large space that won’t be used much and hence would prefer a cosy living space within an established location.

If you want to attract them to buy or rent your property, it is best to furnish your property with some “canggih” features such as smart home products, stylish furnishes and fittings and (most importantly) high-speed WiFi connection.

Move-in-ready condition

Move-in-ready homes are also growing in popularity among Gen Y and Z, especially the renters.

Unlike the older generation, their main priority is to find a home that will demand very less or no work before they can move in.

Simply put, Gen Y and Z want move-in ready homes which allow them to walk in the house with just one suitcase, cook in the kitchen from day one and access the internet from the moment they enter the house.

More importantly, they are willing to pay a premium to enjoy this hassle-free move-in process.

In view of this, a fully-furnished property will definitely enjoy an edge on winning the heart of Gen Y and Z over its peers that comes with little or no furniture and fittings.

A digital property screening and viewing experience

Having grown up in a digital environment, Gen Y and Z don’t prefer the way of spending days touring homes in person to find their ideal property. Instead, they expect to do it the same way they do shopping — online.

Moreover, as they do a lot of their home-buying and renting research online, it is important to list your property online and you may even consider hiring models for lifestyle photos and videos to showcase some of these features in your online listings.

With these attractive online visual contents, it should help these buyers or renters to envision how they can utilise each space in your property and a better life living in the property.

Conclusion

In conclusion, Gen Y and Z’s tastes and habits are proving to shape the housing market in new and fascinating ways. Property sellers and landlords should tap into these trends quickly– or else risk missing out on these generations with growing purchasing power.