Research article

Global demographics in 2029

The young and the elderly are shaping demand for some of the industry’s fastest growing asset classes

While much of the developed world ages, driving demand for senior housing, particular regions and cities are forecast to remain youthful, underpinning demand for student and multifamily accommodation.

We have identified the cities around the world which in ten years’ time will be the most ‘youthful’ (the largest share of people aged 15-39) and the cities which will be the most ‘aged’ (65+).

Generation Z

Move over Millennials, Generation Z are today’s major occupier of student accommodation and are already graduating into post-study accommodation

Generation Z, defined broadly as those born between 1995 and 2010, are now the major occupier of student accommodation and are moving into the workforce, making them a major target for multifamily product in the years to come. Understanding what makes this generation unique will be important for investors and operators of such products.

This generation was the first to be exposed to the internet from a very young age, including social networks and smartphones. True digital natives, they are hyperconnected and unforgiving of poorly designed online services. For living, app-based or seamless online services when renting and dealing with property management will be important for engaging this cohort.

Gen Z are also thought to be less brand conscious, very aware of mental health and to drink less than their predecessors. All of which have implications for the kind of amenity space on offer in the accommodation they occupy. Flexible, shared spaces may be more readily utilised than an onsite bar, for example.

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