BY Wynndee Alejo ON Apr 29, 2021
The global pandemic has no wonder brought significant changes
in terms of economic, social and physiological conditions of everyone, and real
estate industry is no exception.
Amid a background of economic uncertainty, Covid-19 has accelerated changes in real estate industry, having property seekers change their lifestyles, including buying preferences.
As homes become a place where people spend most of their time, choosing the most suitable property has become all the more important for them.
Property seekers, investors and home buyers of luxury condos for sale in Makati can maximize their investments through being aware and updated on the industry so that they can truly understand the market and weigh in the property listing’s profitability and rentability.
1. Most attractive properties are the foreclosed ones.
Foreclosed properties became one of the fastest growing property types most searched now and has also attracted the most interest from the 55–64 years old age group.
2. Most in-demand properties are multi-purpose spaces and with open areas.
Many of the property seekers searching at Earthauz are looking for open spaces where they can put amenities and other recreational tool such as swimming pool, which is included on the top 20 searched amenities for the year 2020. This has been, again, a demand brought about by the pandemic since people cannot go to resorts and amusement parks.
Another search favorite is the open spaces for putting gardens and balconies. We can recall that because people are staying at home more often, gardening has become a hype thus sprung the terms plantitos and plantitas. It is also said that plants became therapeutic for those having anxieties and fatigues.
3. People are prioritizing secured places.
More that a strong internet connection, property seekers are giving high importance on the properties with tightened security. They are looking for projects with basic but strong security features such as 24-hour security staff and dedicated CCTV’s in the areas especially on less exposed spaces such as parking lots and hallways.
Automated security solutions like visitor screening systems, app-controlled amenities, and intelligent homes are getting popular searches in addition to the existing basic security features since there is an increasing potential buyer whose profiles belong to the digitally-savvy Generation Z entering the real estate market.
The year 2020 has definitely hit a strong impact and gave a challenging time for the real industry in the whole world. But property experts in the Philippines are being optimistic that there are signs of recovery beginning 2021 and the status of real estate industry in the country will bounce back anytime soon.