There is a new dominant force of property buyers – Millennials and Gen Z. With such a generational shift, this means the traditional methods of selling and marketing are no longer sufficient. These generations have fundamentally different expectations and preferences, prompting developers and real estate professionals to rethink everything from property design to marketing strategies. Understanding this “next-gen” buyer behaviour is not just about keeping up with trends; it’s about staying relevant and securing a pipeline of future clients.

Millennials vs Gen Z property preferences

So what are Millennials and Gen Z buyers looking for in property? Do they have the same preferences? While both are tech-savvy, their property preferences are shaped by distinct life experiences and values. Millennials (born between 1981 and 1996) have lived through economic downturns. Now in their prime home-buying years, they often prioritise practical features like home offices, proximity to good schools, and energy-efficient designs. However, a Deloitte study showed that they value travel above purchasing property. Gen Z (born between mid-1990 and mid-2010), are more eager to enter the market, and are deeply influenced by social responsibility and personal values. They seek properties that reflect their identity and beliefs, prioritising authenticity, community, and an accessible lifestyle.

How digital natives research and choose properties

This generation of digital natives will begin and end their property search online. They rely heavily on virtual tools, from immersive 3D tours and Augmented Reality (AR) visualisations to comprehensive online reviews and data-rich property websites. Developers and marketers need to pay attention to the online space to satisfy these needs. A website or listing that lacks high-quality photos and engaging videos is likely to be overlooked. Unlike previous generations who might have relied on a single agent, digital natives conduct extensive independent research across multiple platforms. Their decision-making process is informed by a blend of online data, social media influence and online recommendations.

Personalisation in real estate marketing campaigns

It may take a little more work, but to effectively capture the attention of these buyers, real estate marketing must evolve from broad, one-size-fits-all campaigns to highly personalised experiences. Data analytics and AI can be leveraged to create tailored content and property recommendations based on user history and social media activity. Real estate marketers can use targeted ads for new green developments or community spaces with trending architectural features. Personalised real estate marketing campaigns will boost engagement and build trust, making the younger buyers feel understood and valued throughout their property journey.

Reach the next generation of property buyers with a targeted approach. Book a consultation with SWIFT Group for expert strategies.