Perceptions of the Real Estate Market by Students Representing Generation Z: Housing Preferences and Investment Plans

Abstract

Representatives of Generation Z are characterized by a propensity for entrepreneurship, social awareness, interest in social, environmental, and political issues and ease of movement in the digital sphere. In the context of the real estate market, generation Z is becoming an important collective and understanding the preferences, expectations and behaviors of people representing this generation is crucial for the development industry, real estate agencies and investors. The aim of the study was to find out the housing and investment plans of people representing Generation Z. In addition, Generation Z’s knowledge of the real estate market was identified. A literature review on real estate and Generation Z was conducted. The survey showed sufficient knowledge of basic concepts related to the real estate market. The overwhelming majority of respondents believe that housing policy in Poland needs to be changed, and the most preferred direction of change was to reduce property prices. Attention was first and foremost paid to the price per square meter of real estate. Among the 90.1% of respondents who declared they would buy a property, more than 70% intend to finance the purchase in whole or in part with a mortgage.