How developers can market to a greying nation (and millennials too) – Asia Property Awards

Perhaps the perception of having less disposable income, and increasing property prices in many markets in Asia, has led many millennials to believe that, even if they saved for many years, owning property would be out of their reach, so they put it out of their mind and prioritize other purchases.

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Millennials comprise one-fourth of the workforce in Asia Pacific and are a rapidly growing source of spending power. Their growing influence is already driving new trends in real estate markets across the region, making it essential for occupiers, retailers and developers to gain a thorough understanding of their behaviours,

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 · But younger North Koreans are helping to make grassroots market changes a permanent part of the economy. The black markets are too big and entrenched for the government to.

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At 80 million strong, millennials are the largest demographic segment in the United States. Having grown up using social media, these young consumers are more than just "digital natives" – and as social media has evolved, millennials’ tendency to filter out the heavier information content in verbal posts, preferring instead photos and mini-videos that are visually appealing and can be.

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In Asia Pacific, millennials make up 25 percent of the workforce. The common perception of millennials often differs to the reality, so CBRE conducted research surveying over 5,000 individuals from this segment of society. With this data a clearer picture could be painted of their everyday life looking closely at how they work and play.

Millennials are the most important generation for Indonesian developers at the current time, as approximately half of this demographic is at the prime age to buy their first home. However, increasing property prices in many cities have outpaced income growth over the past five years, making housing unaffordable for many.

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