The Digital Future of the Next Generation Real Estate

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We have all heard of the millennial phenomenon and the disruption that centennials are causing in the world. But specifically, who are these generations and how are they transforming the future of the real estate sector?

Although there are no strict dates, Generation Y, or millennials, is made up of all people born between 1982 and 1999, while Generation Z, or centennials, is made up of those born after the year 2000.

You may wonder, what does this have to do with the real estate sector and with the businesses related to this consolidated and traditional industry? I can assure that we are beginning to see a new era in real estate.

All generations influence the economy, but Generations Y and Z have grown up in a time of rapid economic change, which has made them have higher career expectations than previous generations. Millennials are, in fact, poised to reshape the economy. They are often referred to as the "instant gratification generation," with high expectations for their professional and personal lives.

Generation Y and Generation Z are also the first truly digital generations, raised between laptops, mobile phones and a rapidly advancing technology that is changing the way people interact and do business. Among other things, technology is altering where and how new consumers get their information. Global interconnectedness has also made millennials and centennials increasingly dependent on their peers for information and motivation.

Millennials will soon make up the majority of the job market: By 2025, three out of every four workers globally will be millennials. Their financial behavior will affect the world economy to a greater extent than the financial behavior of the generations that preceded them. We can be sure that the power of purchase, investment and consumption will be concentrated in these generations.

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