They are sometimes called “generation rent” for obvious reasons. In almost any other conversation, they are millennials, that massive segment of the population that is generally known to be extensive users of digital technologies and social media. Millennials are also more likely to be tenants as opposed to being homeowners.

The proclivity for leasing is a trend that is common among millennials around the world, although this was not the case a few decades ago. In the UK, for instance, home ownership was the norm for those in the 25-34 age bracket. “According to the Institute for Fiscal Studies, in 1995–96, 65 per cent of those aged 25–34 with middle incomes for their age owned their own home,” explains William Page, sales director of SevenCapital, a real estate investment and development company. “Twenty years on that figure was just 27 per cent.”

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