Real estate market bets on the search for experiences of generation Z

Those born in the late 1990s are coming to the real estate market with a different concept of housing than their parents. Used to sharing their lives on social media, the so-called Generation Z consumes experiences.

“The living areas have a lot of weight for them, it’s all very social. And there’s a much smaller border between the personal and the professional”, says André Kovari, partner at Vita Urbana.

Compact, well-located apartments with a wide range of services that bring practicality to everyday life are the focus of these consumers who value their free time.

“It’s the infrastructure of the apartment’s door to the outside that wins this customer”, says Cyro Naufel, service director at real estate Lopes.

The basic demand when renting or buying a property is for a gym, living spaces, coworking spaces, an outdoor environment, laundry and bicycle storage.

“Young people don’t want to drive. Until 2018, the market had doubts about projects without a parking space. Today, we use the place where cars would be parked to expand the common area”, says Fernando Trotta, CEO of Pivô Desenvolvimento Imobiliário. The company has eight projects in São Paulo without garages.

“This way of sharing services introduces people and makes the condominium cheaper. Our goal is zero-cost housing, with partnerships covering all condominium expenses. And we have a line of companies wanting to be integrated”, says Alexandre Lafer Frankel, CEO from Housi, a digital rental platform.

Photographer Nádia Reis, 28, has been living in a flexible housing apartment for about two years and also uses the common areas in her essays.

“I photograph many clients here, because it is very aesthetic. And the practicality of renting for as long as I want and without a guarantor makes all the difference”, he says.

“The apartment is complete, I didn’t have to buy anything, and I have everything in the building: market, wine cellar, cleaning service that I ask for through the app. And every day I meet someone new in the elevator, it’s the best networking”, says Nádia.

Investing in the purchase of a property is not the initial focus of this generation, which is at the beginning of their professional career. “The real estate became smaller, but more expensive”, says Felipe Santos, from aMora.

“It’s the first property public, who does what their pocket allows. The option for rent is the main one”, says Leonardo Azevedo, founder of Apê 11.

Born connected to the internet, these young people use technology from the search for a property to meal delivery, supermarket and pharmacy.

Almost 60% of consumers in this age group search for the property through the Apê 11 website, according to a survey carried out with data from Google Analytics at the request of Sheet.

“More than half of our audience is within this generation and shows a lot of ability to get to know the apartment and present proposals in a digital way”, says Azevedo.

A newcomer to the market, the Ublink app allows you to virtually visit an apartment “like someone hunting Pokemón”, says Rogério Santos, one of the founders.

“If you prefer, in the application itself you can request a face-to-face visit. The client can also present an online offer to the property owner and be informed of the chance of the proposal being accepted”, says Santos.

Andressa Gulin, CEO of developer AG7, says that these young people are looking for more independence and flexibility when choosing where to live. “Many new lower-cost, more flexible business models such as leasing, serviced residences, cosharing and coliving have an attractive appeal to their reality,” she says.

“But one thing is a fact: people have understood the importance of choosing a place to live and are willing to invest more in it in search of quality of life, well-being and physical and mental health”, says the executive.

“Young people look for ease, they understand that a large property means more work, whether to furnish or clean. This young person does not have much free time and does not have an employee to maintain his home. smaller property or we see young people sharing an apartment, focused on the full use of the property and on valuing their free time”, says architect Gabriela Accorsi, from the website La Decora.

For experts, unlike the parents’ generation, which was looking for a definitive place to live, believing in a single purchase of a property during their lifetime, the current generation cares more about what is close to home and fulfills their routine and areas common ones that suit your habits.

“They want a good and comfortable gym, they don’t care about a super equipped kitchen. They are attentive to the design of the building, to automation, with an eye on the modern and ‘Instagrammable’, without having to put down roots”, says José Roberto Leite, partner of Next Realty developer.

Comfort for this generation is a mixture of ease and a sense of belonging in the chosen location, according to the AG7 executive. “There are those who like to live in the center because they are looking for diversity, others who want to live in an older place, because they are looking for nostalgia”, she says.

Betting on this need for belonging, Vita Urbana decorated one of its properties in the center of the capital in the Santa Ceciliers style. “We bought all the objects decorated in the region of Santa Cecília, decorated with plants and even included a pillow in the shape of a cat so that, when they visited the project, these young people would already feel at home”, says Kovari.

“They are the consumers of the moment. Several sectors are paying attention to them and the real estate market could not be different”, says Naufel.

Gen Z preferences when choosing real estate

Check out a survey carried out by the Apto platform with clients born between 1998 and 2004

• With 60% of the publicthe female sex prevails as the users who most access the Apto in search of new properties in 2022
• Ready-to-live-in developments are preferred by 37%
• real estate standard medium are among the most requested, with 50% of searches
• Among the biggest attractions are: large leisure area, bike rack, pet places, financing by Casa Verde e Amarela, coworking and wi-fi in common areas
• Regarding the localizationthe preference is for properties close to hospitals, colleges, subways/trains, shopping malls and high street commerce