Millennials are taking over the housing market. The young people who were born in the ’80s up to the mid-90s have long grown up and entered the workforce. Now, they are starting their own families and buying their first real estate properties.
The same is happening in the Philippines. In 2020, 25- to 34-year-olds were looking for their own spaces in Luzon, Visayas, and Mindanao. Even the pandemic did not stop the age group from acquiring houses.
In the past several months, there have been a growing number of young property owners who, from staying home in the past year, have saved enough money that they are now using to invest in real estate. Coupled with the falling prices of residential houses, more people are now able to afford the biggest and most expensive purchase of their lives: a house to call their own.
It is interesting to see how young homeowners decorate their homes. Here are the styles that are popular among Millennials:
Minimalism is currently one of the most popular interior design trends. Part of it can be attributed to Marie Kondo, the tidying expert who won the world over and taught people to let go of the things that do not “spark joy.” However, it can also be the impact of the upbringing of Millennials who grew up in the 90s when the style that dominated fashion runways and magazines were minimalist.
It is no wonder, therefore, that young homeowners are filling their homes only with items that they need and use on a regular basis.
Less is more when it comes to Millennial homes. They appreciate the rugged beauty of concrete walls and floors, they love the clean lines on furniture and fixtures, and they find monochromatic color schemes relaxing to the eye. Most importantly, they try to keep their homes uncluttered as much as possible.
If you are looking for storage solutions for your home that are minimalist, Makeroom has stores online. The brand is known for clean lines and plain but modern designs.
Millennials are also the generation that made thrifting fashionable. The past couple of years have seen young people made buying used or pre-loved products a regular way to shop not just out of necessity, but out of love for the environment.
This age group is known for their passion for the social movements they support. They would, without hesitation, join rallies and speak out publicly when they witness injustice. They also would rather spend their money ethically which means the products they buy do not cause further harm on the people who made them, animals, and the environment. That is why thrifting, which saves a product that will otherwise go to a landfill, has become so popular.
In addition, Millennials also love a good bargain which makes thrifting the best way to shop.
Where to Shop: Metro Manila is a haven of thrift stores, locally known as ukay-ukay. Every city has one or two areas where the ukay-ukays are found. However, if you are looking for secondhand furniture and homeware, the best place to go is Bangkal, a barangay in Makati lined with stores after stores of goods that are used but still in great condition.
Houseplants have taken over the homes of young people worldwide. In the Philippines, the trend is catching on.
The young people who have dubbed themselves “plantitos” and “plantitas” are filling their homes with indoor greens. Plants are quiet companions. They require less care compared to having a dog or cat. Moreover, they instantly make any space look more alive.
To Millennials, tending to a plant is self-care. The tasks needed to keep them alive are easy enough to let the mind temporarily go empty as the homeowner focuses on watering or adding fertilizer. The age group experiences high levels of stress, often more than the generations before them. Houseplants relax the body and mind.
Where to Shop: While the popularity of houseplants caused shops to appear online and across Metro Manila, the best place to get plants is still at the Tabang Exit in NLEX. Guiguinto, Bulacan has long been the destination for people who want to improve their landscaping at a reasonable price. You can get outdoor and indoor plants from the stores conveniently located at the side of the highway.
Millennials are changing all aspects of life according to their beliefs and priorities in life. Now that they are becoming homeowners, expect their demands and style to influence the real estate market and interior design, too.