"They want to live near gathering spaces," Karen Yang of Coldwell Banker Residential Brokerage in Los Altos in California said in the report. "They want to live near throwback downtowns, or districts that grew organically — and they are willing to give up square footage and amenities to be able to live in those kinds of locations."
Business Insider previously spoke with several real-estate agents in three states that are popular among rich millennials — New York, California, and Florida. They, too, all told Business Insider that location and walkability are key factors among buyers.
In New York City, many want to be able to walk to work, Ian Slater of Compass told Business Insider. Millennials also want to walk to restaurants, recreational activities, and, in the case of Florida, the water, West Palm Beach real-estate agent Burt Minkoff of Douglas Elliman said.