Demographic Trends and Families:
Shaping the Future of Real Estate
You are probably wondering what this year’s International Day of Families Theme (Demographic Trends and Families) has to do with shaping the future of Real Estate.
Well, grab a cup of water as we feed you some food for thought!
In today’s rapidly changing world, demographic trends hold a significant role in shaping all aspects of society including the real estate market.
Demographic trends are statistical patterns and changes in a population over time which provide insights into the characteristics, behaviours and dynamics of different aspects within a society.
Families continue to evolve in all aspects including behaviours, preferences, beliefs, and practices among others. Consequently, these need shifts directly impact Real Estate trends and how, for tomorrow, we must adjust and provide valuable insights for Families venturing into real estate investment. These include, the properties in demand, appealing locations for families, amenities or features that are becoming increasingly important.
By the end of this piece, you shall have a glimpse of the key demographic trends influencing families and how they reflect on decision making on matters real estate investing.
1. The Rise of Multigenerational Living
Multigenerational households are increasingly prevailing in our societies. Influenced by the rising housing costs, cultural preferences, and the need for closer family bonds, families are opting to live together under one roof.
In response to this trend, we advise families to shift focus on properties that offer separate living spaces, affordable housing plans or building homes that accommodate in-law suites.
2. The Millennial Effect:
Much noise has been made on the effect of Gen Z generation on demographic trends, but of greater significance on matters families, are the Millennial generation (Born 1981 – 1996). The Millennial generation is now transitioning to the stage where home ownership and starting families are becoming more prominent priorities.
The millennials are prone to prefer walkable neighbourhoods, proximity to amenities and access to towns. At Axis Assets we prioritize affordable housing, off-plan projects and land investment solutions for the millennial trend.
3. Changing Household Structures:
The original family structures are undergoing immense changes with the introduction of diverse family arrangements. These include, single-parent households, blended families, bachelors & bachelorettes and small families.
With the demographic changes in household structures, the real estate landscape continues to expand to serve these needs. For instance, affordable housing has opened up the space to accommodate diverse family structures with houses ranging from one room to 6-bedroom houses and above.
Understanding the needs of these household structures help us identify the best probable property to meet their unique requirements. That’s why we boast in providing real assets and real value for all families.
4. Aging Population and Senior Living:
The demand for properties that cater for the seniors and older adults is on the rise with most shifting from their traditional homesteads, prioritizing different regions or towns to settle in and enjoy their retirement.
For such families we provide an array of Real Estate solutions, including prime land located in serene and productive environments that meet the needs of this demographic trend.
Demographic trends have profoundly influenced the future of real estate especially when focusing in Families. The diverse expansion and change in needs, have created a demand for tailored services that align with the demands of each segment of the market.
By recognizing these changes and embracing their impact in our society, Axis Assets is dedicated to offer prime solutions for your household. We are geared to ensuring we stay abreast with these trends to be able to offer insights, solutions and guidance for every family. Our end goal is to ensure every family finds their ideal home.