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First apartment no longer a home for life - How millennials and Gen Z change the real estate market?
Source: eKapija
Thursday, 04.06.2026.
23:56
Thursday, 04.06.2026.
23:56
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Illustration (Photo: Freepik/Drazen Zigic)
Therefore, the purchase criteria are also changing. Microlocation often becomes more important than the city center, functionality more important than square footage, and practicality more important than emotion. Real estate appraiser Milić Đoković talks about how new generations think when buying their first home and what it means for the market.
According to him, one of the key characteristics of the new generation of buyers is a much smaller emotional attachment to the apartment or neighborhood in which they live.
- Young people today have much less emotion towards the walls themselves. They are not so attached to a certain property or to a certain neighborhood as was the case with older generations. They follow their work more, they are more mobile and much more practical - Djokovic explains.
Unlike their parents and grandparents, young buyers increasingly do not see their first apartment as a place where they will spend their whole life.
- They see the apartment as a commodity, as a temporary dwelling, and not as a permanent home. They are more willing to give it away, sell it or exchange it when the job, the city or life circumstances change. It could be said that they use reason more than emotions when shopping - Đoković assesses.
Such an approach also affects the expectations they have of new residential projects.
Functionality before a prestigious address
Although location still remains an important factor, young customers pay more and more attention to daily functionality and contents that match their interests and lifestyle.
- For them, the most important thing is that the apartment meets their specific needs. Fast internet and stable power supply are important to someone from the IT sector, while others will have different priorities. The location is important, but it is no longer the only decisive factor - says Đoković.
High real estate prices further affect the change in priorities. According to him, compromises depend on the buyer`s life situation.
- If we are talking about singles, it is often more important where the apartment is located than its square footage. In the case of young families, the situation is generally reversed and space becomes a priority - he states.
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Without the help of the family, getting to the first apartment becomes more and more difficult
One of the biggest challenges for young buyers in Serbia is financing their first real estate. Djokovic assesses that today`s market makes it seriously difficult for those without family support to buy.
- The only real support is the bank, but the problem of initial capital and the level of reported income represents a huge obstacle for a large number of young people - he points out.
That is why, as he warns, a generational gap is already clearly visible between those who can count on family help and those who, despite good incomes, remain tenants.
"Unfortunately, that gap is already felt and is becoming more and more pronounced," Djokovic added.
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Illustration (Photo: Pexels/Khwanchai Phanthong)
Microlocation becomes a new measure of value
While once the most important thing was to live as close as possible to the city center, today, certain streets, neighborhoods and blocks are gaining the status of new premium zones thanks to the facilities they offer.
- Buyers recognize quality through infrastructure, parking, business facilities, bars, restaurants, shops, but also a certain prestige and image of the settlement. This is precisely why certain micro-locations become more attractive than the city center itself - Đoković explains.
What do investors have to offer?
According to him, investors who want to attract Millennials and Generation Z must carefully monitor the changes in the market.
- These are modern construction concepts, with as much content as possible within the building or immediate surroundings. They are looking for smaller bedrooms and kitchens, spacious living rooms with lots of natural light, a mandatory parking space, but also infrastructure for electric vehicles and scooters - Đoković states.
He adds that investors who want to remain competitive must listen to the needs of customers and cooperate with experts who monitor the market every day.
- Those who want to stay on the market must follow construction trends and demand trends. The advice of professionals who work with real estate buyers every day can be valuable, and quality advice almost always pays off in the end - Đoković concludes.
I. Žikić
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