A recent independent study commissioned by The New York Times Customer Insight Group reveals an attitude of great optimism by the next generation of New York metro area real estate buyers, despite today’s economic climate. The findings highlight the changing preferences of real estate consumers, the amenities they look for in a neighborhood and show that New York’s younger buyers are eager to customize their homes to match their identities.

The survey’s key findings show:

• New York metro area home buyers are optimistic about today’s real estate market – more than three-quarters of New York metro home buyers believe that prices will hold or continue to rise in the next year.
• Buyers want their home to reflect their personality and 61% want to be proud of their home; among the amenities on their wish list are swimming pools, customized kitchens and bathrooms, home media centers and outdoor living spaces.
• Buyers want “urban amenities” such as restaurants, schools, mass transit and stores nearby, but also desire space, privacy and areas where they can walk, hike and bike.
• Ninety-three percent of all home buyers, both nationally and in the New York metro area, are not willing to pay more for green or energy efficient features when building a home.
• Consumers said green features that save them money – such as energy efficient appliances – are important, while green features that are capital-intensive are less important.

“As a partner to the real estate industry, The Times is committed to helping our advertisers better connect with the next generation of real estate consumers,” said Andy Wright, vice president, advertising, The New York Times. “Our recent findings examine buyers’ emotional, financial and environmental attitudes, and these insights are critical to our advertisers in targeting this demographic.”

The New York Times Customer Insight Group surveyed 700 young, affluent, prospective home buyers across the country via online interviews, including 250 buyers in the New York metro area. Additionally, a series of in-depth, ethnographic interviews were conducted and videotaped to gather more comprehensive responses.

The research was presented at The New York Times “VU2008: A Discussion on The Development of Manhattan’s West Side” event on June 4. Panelists who participated in the discussion included Richard Clark, president and CEO, Brookfield Properties; Joseph Moinian, president and CEO, The Moinian Group; Larry Silverstein, president and CEO, Silverstein Properties; Steven Spinola, president, The Real Estate Board of New York; and Charles Bagli, a New York Times metro reporter. The New York Times plans to present additional findings at real estate events across the nation.

The full research and presentation is available at nytmediakit.com/realestate. For more information, please contact Russ Freyman at 212-556-7663 or freymra@nytimes.com.

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