Millennial High Net Worth Individual Buyers Seek Green HomesJanuary 20, 2016
Millennial High Net Worth Individual (HNWI) luxury market buyers seek green homes in greater numbers than any previous generation. Born between 1980 and 2000, these emerging tastemakers, enjoying new found wealth both inherited and earned, are putting money into real estate. Developers are taking note as they redefine luxury standards. For this generation, “green” is equated with high tech, efficiency, and intelligent design. For developers design is about making a conscious lifestyle easier to implement for the efficiency obsessed millennials.
Millennials want high-end appliances, sustainable building materials, energy efficient LED lighting, and smart homes that can be customized to individual preferences and lifestyles. They represent the most environmentally conscious generation to come of age yet. These pragmatic, problem solvers and native technology users expect homes to incorporate the best in design and efficiency.
Today luxury does not necessarily mean opulence, efficiency, technology, and state-of-the-art design tailored to meet individual needs define the new luxury standards. “Green” is recognized as an integral part of high-end design. Today’s millennial luxury market buyers show up to house hunting appointments sporting manolo blahniks with iPhones in hand inquiring as to whether or not the property is LED certified, and they know exactly what that means. In the 21st Century, sustainability has become a defining characteristic of luxury.