In Peru there is a very young population. Currently, the active population with respect to the economy is in constant growth. It is for this reason that the real estate industry is gaining more and more a great challenge: to meet the needs of Generation y, or better known as the ‘Millennials’, which belong to the group of young people between 22 and 34 years. This group of the general population mark in the history as it has been shown to have particular preferences and needs, and it is because of the style of life that they lead.
If we focus in Lima, the ‘Millennials’ are the 2.46 million citizens, becoming leaders of the pyramid of the population of the city. The variety of real estate for this generation marked a particular tendency, and is segmented into two groups:
- In the first place, those who start their professional life or are pursuing their studies technical or higher.
- In the second place, those who have a better economic stability, is dependent or independent. That is to say, the young people who are part of a new generation of entrepreneurs.
Despite the fact that the goal is to become independent or form your own home, it is usual that you do not always run by means of the purchase of housing, for the time being. There are more alternatives accessible as rent a property. This option attracts a lot of attention of this generation as it brings many advantages to its economy, as to be able to share the space next to a friend or family member and share the monthly expenses that you need to pay.
Features of the Generation of Millennials:
Below, we have mentioned some features of this generation with respect to the real estate market:
- Don't like to call or receive calls, prefer to communicate by text message, whatsapp or email.
- Prefer to search homes and condos in digital portals, which you can access through your phone, computer, tablet, or laptop.
- Before you make a decision reported very well, since they have a clear sense of what they want, how and when.
- Take into consideration the care and customer service agile. In addition, verified any information on the internet.
- References and recommendations that you can give them their parents or close friends influence your decisions.
- Observed social networks and publications on housing. Value if a real estate company has a presence online.
- Don't bother to ask many papers or documents are needed, always and on demand all in one occasion to avoid a lot of laps.
- Like invest money in buildings that are sustainable, ecological, and petfriendly.
- Like the open spaces, the bathroom and the kitchen has a modern finish and of good quality, to a room that can attach to a study and have your own home office.
Type of real estate for Millennials:
As the Millennials were born along with the internet, this became the main route at the time of searching for a space in which to live. Here are some of the factors that searches for this generation at the time of renting an apartment:
- Proximity to job centers: for this generation, the location is an important factor when deciding where to go live. For this reason the large cities, occupy a large part of the Millennials. That's why the rentals have a short-term contract, because if you change jobs, maybe they want to move to a space closer.
- Space small/medium: the studio may be the option that is chosen for the type of real estate you look for this generation. It is an option that provides elegance and comfort to maintain the order and cleanliness at the time of decorate.
- Technology: the home office has become very common for Millennials. There is No way that you can live in a space where you do not have high-speed internet. Many of this generation are dedicated to being freelancers in careers as design, programming, websites or marketing. Because of this, it is important to have good connection and a physical space in which you can locate all the computers in technology.
- Sustainable housing: be aware of the environment is an act that can develop inside and outside the home. Live in a space that was built with sustainable materials is a way to bring in the care of the planet. The energy-saving systems is another factor when choosing a home.
- Proximity of public transport: in large cities, the long trips and the distance form a big problem at the time of choosing where to live. For this reason, the transportation networks are close to where you live is a crucial factor to take into consideration. The practicality and comfort has become a key aspect in the day-to-day Millennials.
- Gym: sport and health make up an important role in the younger generations. A building that has a gym may be the factor that determines whether this property is ideal to be rented. The Millennials are always looking to save time so, if you have the possibility to train, sleep and work at the same place, it is ideal for them.