What consumer preferences should the real estate sector be aware of when it comes to creating the right residential product?
Nearly two thirds of our real estate sector respondents (65%) are convinced that micro-living will become widespread in urban areas within 20 years.
The consumers we polled have a split view, although a little over half agreeing they would sacrifice personal living space for the promise of better shared facilities. 61% of iGens found this appealing versus 43% of Baby Boomers, a contrast not quite as stark as one might expect.
According to the British Property Federation, there is still no common, global definition for what micro-living is. Such solutions sit along a spectrum with self-contained living at one end and shared living at the other. They typically sit below recommended minimum space standards.
For further insight on what consumers want from their rented accommodation, please download the full Urban Being real estate report.