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Private Rental Target Markets: A Comprehensive Spectrum

Author

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  • Grant Alexander Wilson

    (University of Regina)

  • Anthony Giuffre

    (Avenue Living)

Abstract

The residential real estate market has been segmented dichotomously into owners and renters. Given the various tenures and sub-markets of the renters, it is problematic to consider them as a homogeneous target market. Based on a thematic analysis of semi-structured interviews with 16 residential real estate executives, this paper establishes six distinct private rental target markets including: 1) hard-to-house occupants, 2) affordability renters, 3) workforce residents, 4) transitional millennials, 5) lifestyle residents, and 6) returners. This paper is unique and noteworthy as it combines the fragmented literature on private renters with insights from residential real estate executives to produce a spectrum of target markets. In addition to validating the previous literature, this paper presents new target markets and offers marketing value propositions for each of the identified groups

Suggested Citation

  • Grant Alexander Wilson & Anthony Giuffre, 2022. "Private Rental Target Markets: A Comprehensive Spectrum," International Real Estate Review, Global Social Science Institute, vol. 25(1), pages 137-159.
    • Handle: RePEc:ire:issued:v:25:n:01:2022:p:137-159
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    References listed on IDEAS

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    1. Slater, Stanley F. & Narver, John C., 2000. "The Positive Effect of a Market Orientation on Business Profitability: A Balanced Replication," Journal of Business Research, Elsevier, vol. 48(1), pages 69-73, April.
    2. Lawson, Stephanie J. & Gleim, Mark R. & Perren, Rebeca & Hwang, Jiyoung, 2016. "Freedom from ownership: An exploration of access-based consumption," Journal of Business Research, Elsevier, vol. 69(8), pages 2615-2623.
    3. Eichholtz, Piet & Lindenthal, Thies, 2014. "Demographics, human capital, and the demand for housing," Journal of Housing Economics, Elsevier, vol. 26(C), pages 19-32.
    4. Kim McKee, 2012. "Young People, Homeownership and Future Welfare," Housing Studies, Taylor & Francis Journals, vol. 27(6), pages 853-862.
    5. Kim McKee & Adriana Mihaela Soaita & Jennifer Hoolachan, 2020. "‘Generation rent’ and the emotions of private renting: self-worth, status and insecurity amongst low-income renters," Housing Studies, Taylor & Francis Journals, vol. 35(8), pages 1468-1487, September.
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    Cited by:

    1. Grant Alexander Wilson & Jason Jogia & Tyler Case, 2024. "Post-Pandemic Rental Housing Affordability Economics in the U.S., U.K., & Canada," Economic Analysis Letters, Anser Press, vol. 3(2), pages 74-82, June.

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