Millennials in search of Small Spaces

The frequent mobility of Millennials is one of the reasons why in recent years the demand for small spaces has increased in entities such as Mexico City, assured experts at Mercado Libre Inmuebles.

The frequent mobility of Millennials is one of the reasons why in recent years the demand for small spaces has increased in entities such as Mexico City, assured experts at Mercado Libre Inmuebles.

Through a statement, the specialists explained that this generation of Mexicans aged between 18 and 34 years old, reject having their own home, since they prefer to travel and only have a reduced place that covers their basic needs as a space for cooking, where to sleep and Internet access.

"Millennials know that working from anywhere is possible, because they value the good technological connection over other housing characteristics, such as breadth," said the director of Mercado Libre, Inés Prieto.

The company noted that according to own records, the demand for housing in a dormitory in the capital of the country represents 29%, while in the whole country it reaches just 22.3%, with small spaces being the most sought after in the city.

Likewise, according to figures from Mercado Libre Inmuebles, the Polanco, Anáhuac, Condesa and Del Valle neighborhoods, in Mexico City, are the ones that lead the offer of apartments for rent with one bedroom and with less than 60 square meters. The rental prices of the most demanded spaces in the city range from more than 20,000 pesos in the case of Polanco, to less than 10,000 pesos in Del Valle.

The Economist / Notimex / August 22, 2018.