Chinese millennials, mostly the post 80's and 90's, represent a rapidly growing source of labor and consumption as well as the most influential demographic framing future trends in China's real estate sector.
CBRE's report on this demographic, Millennials: Shaping the Future of Real Estate, provides an in-depth view of how their live, work and play priorities and habits will shape economics, redefine opinions on workplace design and functionality, and drive new attitudes towards consumption and experience for the foreseeable future.
In December 2015, CBRE conducted a global survey of 13,000 millennials globally--between the ages of 22 and 29, including 1,000 from mainland China out of 5,000 from Asia-Pacific millennials. The results of the survey showed that:
- Chinese millennials aspire to own their own home but rising property prices post challenges.
- Health-conscious millennials place high importance on workplace environment.
- Chinese millennials to increase spending on leisure activities; shopping experience in bricks-and mortar venues irreplaceable.