Social distancing and shut in, are putting the Millennials and real estate to the test. The critical situation, you know, has not left real estate untouched. Many countries are homologating to the model applied first in China and then in Italy. Limitations to daily life, to travel, to the way of life, to the way of being. How does all this materialize between the Millennials and the real estate market?
Today we will describe the relationship between Millennials and real estate in the last period that we are all living in a different way. So, if you are ready, we can open our column today!
Regardless of this situation, did you know that the Millennials were already starting a process that would totally change real estate? The young people of today, in fact, have introduced considerable changes. Changes that have resulted in innovative segments (on the supply side) in real estate. These segments have not been discouraged by the Coronavirus drama. On the contrary. They are expected to be in greater demand after the end of the most critical period for the world economy.
So what are these new segments that prove resilient despite the Coronavirus?
Student Housing, Smart-Coworking, Co-living and Hostelling. These types have in common the ability to attract more and more young investors who, according to statistical data, continue to choose alternatives of this type to the more traditional ones.
But what are they characterized by?
Let’s start with the first and most popular: student housing. These formats present themselves as real economic shock absorbers. Why? They are structures that by their nature allow reduced mobility and strong social distancing. The only flaw is that they are dependent on universities. Which are closed during this period. There are exceptions, however.
Smart-coworking, on the other hand, is a truly interesting type not only for young people, but also for companies that have already started up. It is characterized by the presence of several activities that come to life in the same place. An optimization of time and space, which ensure many companies to continue to work, even remotely, without compromising the company’s work.
Co-living, on the other hand, is divided into three types: Urban, Travel and Destination. In all three cases, it takes the form of sharing common spaces.With the difference that it concerns the style. (Urban is the most popular among young people). Considering that the current shock will affect all those who are going to buy a property of healthy plant, this solution is currently quite popular.
Hostelling, the last category examined, concerns the latest generation of hostels. Ecologically sustainable, technological and above all with attractive pricing for young people. There are many hotel chains that have decided to embrace this new policy. Low prices, but expenses always covered, thanks to the high demand.
So, which of these types can be suitable for you?
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