Millennials and the digital age
We live in a time where digitalization has been a widespread notion, with millennials quickly catching up with changes occurring in most of their day-to-day activities such as work and shopping. The use of technology has made most of our lives a lot easier, but it has allowed millennials to use it as a tool to progress further with unique innovations. Before we look forward, let’s look back!
The millennial generation has indeed brought in significant changes in the market, much like the industrial revolution, the digital revolution has allowed the world to indulge in the ‘Information Age.’ The digital revolution can be described as a shift from mechanical or analogue technology towards digital devices, massively changing means of communication in the process as well as the absorption of information.
A quarter of the world’s population is made up of millennials, which means it would be reasonable for most things in the market to be geared towards them. It’s utterly natural for millennials to gravitate more towards digitalised activities not only because they are so readily available, but because they are comfortable. The evolution of the digital revolution from the 1970s has made things easier. Everything from the task of shopping – you can shop for almost anything online these days to having businesses online. Why is investing ideal for millennials?
After looking at the brief history of the digital age, we shift towards the investing habits of millennials. According to a study done by Finra, a CFA institute, millennials have lofty goals that drive their financial actions and planning. They’re also extremely wary of financial services, usually sceptical of financial advisors, since they don’t want to give control to a secondary source.
It is incredibly likely that such individuals would want to take matters into their own hands. They would also be more likely to find platforms where they could have the most control and do it themselves. Although income challenges and debt are vital barriers keeping them from actually investing, many millennials do, indeed, aim to retire early. The key to this is usually saving and investing. Only saving would allow them to spend money when they next need it the most, while investments would lead them to generate a back-up source of income.
Since this generation group has grown up in the developing digital age, it is natural for them to gravitate towards innovations. Crowdfunding is a concept that has emerged through the early 2000s and is still continually growing, especially in the millennial market. Since real estate is the largest investable asset class in the world, crowdfunding within such a means seems to be quite convenient. Millennials are often looking for “the next best thing.”
Easy, low-capital investments, have created a new wave of interest within individuals, ever since the emergence of real estate crowdfunding platforms.
Real Estate Crowdfunding as an innovation
Historically, real estate has been a challenging asset class to break into, as one’s connections and income status limited it. As a result, the ordinary individual had no chance of having access to real estate investments if they did not have a valuable network. Moreover, investing directly in real estate often requires large amounts of money, which in and of itself can be an extreme barrier to entry for many.
The notion of real estate crowdfunding breaks these barriers and allows individuals to invest in real estate, starting from extremely low-capital rates. The real estate market has now opened up to a whole new set of people, including the ever-so-curious millennials of the digital age who are always on the lookout for something new, something innovative. So, if you’re a millennial and all this while, you’ve had a preconceived notion about investing in real estate, that shouldn’t be a problem anymore!
Real Estate Crowdfunding in the MENA regionYou now have several opportunities to invest, diversify your investment portfolio and earn for the many more exciting ventures that may be ahead of you. Smart Crowd has already been helping several people around the MENA region, allowing them to invest in the glimmering investment market of Dubai!Dubai is continually working in support of emerging technologies and innovations. Moreover, there is no surprise that the MENA region has its FIRST regulated real estate investment platform. Our team is continually working on bringing you only the best. This is not only in terms of live properties, but content that allows interested millennials to take a detailed look at how it works and how they can benefit from this innovation.
Affordable real estate investments
With Smart Crowd, you can build a simple & affordable crowdfunding real estate investments portfolio starting from AED 5,000
