The Gen-Y generation will be a “noticeable force” in the Canada property market with their specific preferences to be hugely considered by mortgage brokers, bankers, lenders, and other financial institutions in their strategic marketing efforts.
According to the report filed by the PricewaterhouseCoopers and the Urban Land Institute and which is cited by the Vancouver Sun, Gen-Y home owners will be more urban and less suburban. They would want to be near areas that have a proximity to mass transport. This technologically adept and mobile crowd would want to use their wired equipment like smartphones and tablets to communicate with each other, instead of driving to meet in certain locations.
They also want their homes to be a mixture of their professional and personal space. They prefer “mixed-used” products for their homes, meaning these should serve their office, residential, and shopping needs in a related space.
The report notes, “From intown (sic) rental housing to collaborative office space to close-in warehousing to ensure same-day delivery from online retailers, gen Y will be a noticeable force.”