Make Millennials Move With a Year of Free Avocado Toast
May 2, 2019
A new luxury condo development in Vancouver, British Columbia, believes it has the perfect offer to draw out millennial home buyers: free avocado toast for a year to those who buy in their building.
The Kira, a 116-condo building part of Woodbridge Homes that opens this month, will offer tenants a gift card to a local restaurant that will cover the purchase of 52 free avocado toasts—one for every week of the year.
“Saving for a down payment does require some saving and sacrificing,” Jamie Howard, Woodbridge Homes president, told the Star Vancouver. “At the Kira project, we say you can have your avocado toast and eat it too.”
Units at the Kira start at $399,000 (or $296,000 in U.S. dollars). Another attempt to lure young adults: Prospective home buyers to the building also will only be required to pay 10% of the down payment instead of the typical 15% or 20%.
Other real estate companies in the past have also tried to use food—and avocado toast in particular—to lure young buyers. Mashed-up avocado on toast—known as a millennial favorite—was used as an incentive in 2017 by an Australian real estate company called Ray White to entice young buyers. The company offered buyers free avocado toast for a year for those who purchased a new two- or three-bedroom townhouse in Queensland.
Some firms believe that if they can pick up millennials’ avocado toast tab, maybe they’ll have more money left over to buy a home. After all, Americans spent a whopping $900,000 per month on avocado toast, according to 2017 data from the tech company Square.
“How to Sell a Condo to Millennials in Vancouver: With a Side of Free Avocado Toast,” The Star Vancouver (April 24, 2019) [Log-in required.] and “Canadian Condo Development Promises Buyers Free Avocado Toast for a Year When They Purchase Unit,” PEOPLE.com (April 29, 2019)
Updated: July 22, 2019