Millennials seek independence. Those born between 1980 and 2000 have a dilemma between looking for new challenges and facing plans in search of a promising future. One of their preferences is to achieve that independence from their parents.
The figures of this group affording to buy a flat are not hopeful. The price increase in the second quarter of 2018 was 10.7%, according to the Land Registry.
For this reason they have settled down, and other alternatives have done so with great force. Undoubtedly the most important one in this sector of society is renting and sharing a flat. Various real estate studies claim that since 2016, around 80% of millennials have opted for renting a flat.
“80% of millennials have opted for renting a flat”
In this scenario, young people look for flats based on a series of requirements that range from location, to services and, of course, the quality-price balance.
City center or suburbs?
To understand the mentality of young people when it comes to looking for a new home. We must be aware that new technologies make this task much easier and filter with a much wider and more defined amount of search controls.
One of the most important continues to be the location of the property. This type of client has a not very high salary, so the more central their new apartment is, the easier it will be to move from one place to another. This is intimately linked to the character of millennials, who value time above all things, so locations like these facilitate transport. This group also likes other forms of transport, less conventional, and more modern linked to the use of new technologies such as ‘car sharing’, ‘moto sharing’ or ‘bike sharing’.
“Millennials prefer to live in the center of big cities, where they can have all their needs covered in a very simple way”
Main cities … For more information. Millennials believe that it is in these cities where there is always the main range of activities and services to fulfill their expectations, both in their personal life and professional life. They believe that it is at the center of these larger cities where they have more job opportunities to keep growing.
Comfortable, modern and affordable
As far as the comforts and qualities of the house itself are concerned, they require houses that fit their lifestyle. They are well-known for having a restless character. Something they demand is versatility, places that serve to work and where comfort allows them sharing experiences with friends, family or colleagues.
Practical and modern, with the possibility of having all the services without hardly moving from home. Apartments adapted to the 3.0 world in which we are immersed and the digital revolution that has changed the paradigm in which people do things.
“They look for 360º places. Apartments to live, share experiences with friends, family and colleagues and conditioned to work”
With full connectivity. Services such as Wi-Fi are already a must when renting to young people.
Houses that are preferably furnished. As mentioned before, young people between 18 and 35 years do not have very high salaries, so they appreciate open and bright spaces equipped with the necessary furniture for everyday use.
On the other hand, houses aside, millennials reward that the service is fast and effective. They usually avoid making phone calls and prefer doing the process online, either with the owner or with the platform.
It is not a trivial issue. Millennials find this issue to be key. It is useless for the house to have all the amenities and match perfectly, if when managing and providing services, these fail.
Floor sharing is a more than profitable
Millennials want to meet new people and open their minds to new cultures and lifestyles. To do this, sharing a flat is presented as the perfect opportunity to grow as a person.
“Changing environments, where you can continuously know different cultures and ways of thinking”
The culture of independence has evolved in recent years and globalization has a lot to do with it. Therefore, when looking for a new apartment, young people value the dynamism of renting an apartment. Knowing new environments and learning from them is one of the aspects where more emphasis is placed.
Comprehensive service for a demanding and restless group
In order to provide great service to all the requests and concerns of millennials when renting an apartment, new companies have appeared. Companies that have managed to professionalize the rental of apartments for students and young workers such as Homiii, where in addition to prioritizing the first and best qualities in housing, it is intended to facilitate the personal and professional growth of their clients.
Millennials are a market niche where there are many opportunities to provide this type of services if you are able to understand their way of thinking, acting … ultimately living. A very specific public that has begun to live in the digital world and whose concerns have varied, and continue to do so, at lightning speed. Being able to evolve together is essential to achieve success in this market.