Urban Populations Growing Faster than Ever

Urban centers are becoming much more popular, which means that the real estate market in them are changing. Understanding what these changes are and how you can leverage them will help you grow your real estate business quickly and easily.

City Changes You Need to Know About

Populations in urban areas are growing, and most of them will have between 500,000 to 1 million people. There will be more single people in these areas — this means that they will either want to buy a smaller property or rent. You will need to work on highlighting the benefits of buying rather than renting right now. There are many benefits to buying, especially for those who are young and single. Think about how this new generation wants to be financial free earlier than past generations.

In addition to more singles being in urban areas, they are waiting to get married. This means that for the next few years, the bulk of your purchases in urban areas will be of one or two bedroom properties. Keep this in mind, so you can be sure to keep your eyes on new listing for these properties. With so many single people in the area, these properties are likely to go fast.

When people do get married, they are less likely to have as many children as those who started families in the 1950s. Again, this means smaller properties. Two or three bedrooms will now be the norm, so keep your eye out for these listings.

Singles aren’t the only ones making their way into cities — older people are too. As their children become adults and move away (possibly to the cities), they also want to be around the hustle and bustle. Since it can be difficult to drive as a senior and with all of the resources that are available, it makes sense that the older population would want to move to the city. Again, one to bedroom properties will be important for them. They will also want to live in places with minimal stairs and close to doctors’ offices, grocery stores, senior centers and other similar places.

The types of properties people are looking for in cities has changed as well.

People want more:

• Green spaces
• Micro apartments
• Shared spaces
• Mixed-use commercial and residential properties

They also want homes near transportation or have a good walkability rating. This is highly important to everyone in your demographic for urban living — singles, couples and seniors.

How You Can Use This Information

With this information, you will be able to come up with a list of properties that will meet the needs of this new generation of urban dwellers. There was a time when people used to move away from the city seeking the calmer way of life. This has changed drastically over the years. Costs of living aren’t a concern as much as it used to be living in the city because people are making more money in these areas. This also means your commission will be higher.

Get out there and make this information work for you. It’s time to start moving into the city, just like all of your future clients will be.