Time flies by, and the youngest Millennials are already in their late twenties. Meanwhile, Generation Z is finally coming of age and, therefore, is about to become the most important age group for the real estate market, today and in the future.
Who makes up Generation Z?
Generation Z, also known as Zillennials, includes those born in the late 90s and early 2000s; although the period is still not very well-defined, the most accepted idea by several analysts is that Gen Z includes people born between 1997 and 2012.
Currently, the oldest Gen-Zers (colloquially known as Zoomers) are about to graduate from the university, working, or looking for their first job, while the youngest ones are probably in the dilemma of choosing what to do after high school.
Characteristics of Generation Z
According to a report published by the Pew Research Center, Zoomers were born in a time of rapid digital development, so most are tech-inclined and have the ability to quickly adapt to change.
They are also described as a a highly politicized generation, with strong opinions on different issues such as climate change, gender equity, bullying, LGBTQIA+ rights, etc. All these characteristics make them a generation whose entire world and their own points of view are informed by technology immediacy and access. That’s why even the real estate market has begun a new online marketing process through mobile applications, to make purchases easier for new generations.
Generation Z and real estate
Young Gen-Zers are aware of the political and economic difficulties that Millennials have faced, so many have started saving and working from an early age. Some surveys have revealed that 97% of Zoomer teens believe they will own a home during their lifetime. They understand that homeownership is a good investment and believe that it is safer than the stock market or other investments.
For Generation Z, success is defined not by money, but by independence. That’s why this generation is expected to leave their parents’ home and find a place of their own earlier than Millennials did.
This generation is already looking to the future, so the real estate market is gradually adapting to their needs.
Just like Generation Z, you too can start investing in the future. Your investment in a residential lot today can become a home for a Gen-Zer, and a business that can generate great returns in the long term. Discover the real estate developments that SIMCA has to offer and start your investment project. We have residential developments, apartments near the beach, industrial lots, residential lots, and much more.
You may be interested in: SIMCA’S Top Secrets or Why We Offer the Best Real Estate Options.