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Generation Z will overtake Millennials to become the biggest homeowners by 2030

9/9/2022

It is estimated that by 2030, Generation Z (born between 1997 and 2012) will surpass Millennials (born between 1981 to 1995) and represent the largest group of real estate renters on the market.

These demographic changes have driven several sectors of the real estate market, such as multifamily and corporate, which have been trying to reinvent themselves every day.

Keeping an eye on these 100% digital customers, intimate with the internet and technologies, owners have put in place strategies to compete for this new generation of tenants. In the multifamily sector, for example, Housi has been innovating in the Brazilian market with the rental of properties by subscription, and has invested in making the experience of its customers increasingly futuristic.

What does Gen Z want?

A number of factors are shaping Gen Z's preferences. Some of these characteristics are:

Quality internet is essential
It's the first digital native generation, so it's not surprising that they value high-speed internet more than any other amenity.

Google always at hand
In their research process, the use of Google is constant, in addition to being more demanding and attentive to the company's comments, evaluations and digital presence. That's why best practices in media and digital marketing will become commonplace.

The most successful owners will be those who invest in search engine optimization, advertising, social media, including TikTok and Instagram, as well as actively monitoring their online reputation.

Search for customized solutions and unique experiences

Brands and companies that market to this generation need to understand their needs. It is more important than ever to prioritize these preferences as the economic power of Gen Z will continue to grow.

Concern about environmental issues

Sustainability will likely become more prominent as Gen Z becomes a larger group of tenants. Therefore, developers, real estate, construction companies and enterprises interested in attracting this audience need to strongly demonstrate which values and causes they embrace.

While location, price and build quality will determine a large part of Gen Z's rental decisions, sustainability will offer ways to differentiate yourself in the marketplace. As Gen Z ages, they will have even more purchasing power to make decisions based on their environmental values.

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