VillageConnectPH | Floors to Walls: Your Doors To New Business Venture | Even before the pandemic struck and caused a major setback to many economies around the globe, the Philippines is considered one of the most dynamic economies in Asia with a stable GDP growth fueled by notable performances of its services sector. Micro, Small, and Medium Enterprises (MSMEs) constitute 99% of the operating local business establishments proving that these businesses are the backbone of our economy.

Out of all the various MSMEs operating in the country, Wholesale and Retail Trade tops the list with almost 47% based on the 2020 data provided by the Department of Industry. This is followed by Accommodation and Food Service Activities, Manufacturing, Other Service Activities, and Financial and Insurance Activities. For many Filipinos, opening up a business is an achievement with corresponding responsibilities and challenges. These responsibilities and challenges have tested wholesale and retail home furnishing shop, Floors to Walls, which bravely faced the challenges of time and pivoted to offer new opportunities to many Filipinos. 

Taking It All In

From a humble shop in Binondo, Manila, Floors to Walls is now geared to offer a consumer-focused franchise package backed with wholesale and retail experience that is programmed to provide Filipino entrepreneurs with broader opportunities and quick returns.

Floors to Walls aims to empower its franchisees with further knowledge and freedom that could generate further advancement in their business. Packed with programs to mirror that success of its initial shop, the management envisions this franchise program to provide its franchisees with enough equipment and tools along with equal opportunities that will further provide opportunities to grow and prosper. 

Offering a retail and wholesale home furnishing business, Floors to Walls caters to both B2B and B2C models capturing a wider scope of the market. The management has established the Floors to Walls brand as a convenient avenue for the customers to shop and get ideas for their home and business improvement, with a unique selling proposition that could be applied in any key areas in the Philippines.

Mark of a New Era

Floors to Walls’ Franchise Package highlights the strong support from the franchisor, which is strategically programmed for the business. Each franchise package includes equipment and software, operations support, and marketing support on top of the showroom designs that will highlight the saleable products that are included in the package.

“We aspire to provide the best and most realistic franchise program to our people. Our experiences in the past years in this industry have provided us with learnings that we can bestow to our future franchise owners and lead them to the success we aim for both of us,” Mr. Ting shared. 

Floors to Walls’ initial Franchise Package amounts to PHP4.5 million, which already comes with a 5-year Franchise Fee, PHP2 million worth of saleable products, security bond, operation tools, and system. ROI could be achieved in less than 2 years given the targeted low volume, high value transactions that usually occurs in the business.

“Along with our established brand, we see this opportunity to provide our people with a strong franchise support system that will capture a huge niche market, which leads to exponential growth,” Mr. Ting concluded.

The franchising process is estimated to last for three weeks, starting on the day of submission of documents to the opening of the store. The minimum location requirement is 200 to 300 sq

uare meters for the basic setup. Each target location must be located on a national road and accessible to the public. 

To know more about the Floors to Walls Franchise Package, you may contact the team at floorstowallsfranchising@gmail.com. You may also follow and inquire through their official Facebook account, https://www.facebook.com/floorstowallsofficial/.

Photo by Carl GARTMAN on Unsplash

VillageConnectPH | Floors to Walls: Your Doors To New Business Venture

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Chief executives from the company were present, namely Kenneth Stern, CEO and Managing Director; Ramjit Lahiri, Vice President of Operations and Marketing; and Anurag Verma, Director of Broker Classifieds & Partnerships. The agents who attended the networking event represented different brokerage firms. 

According to Verma, the relaunch is in part a celebration of the market coming back. He noted the positive sentiments the team has been getting from property professionals, as they see more and more real estate transactions. The Lamudi portal has seen an uptick in activities as well.

Last month, the total number of visits on the Lamudi platform reached a new high. “In fact, it’s better than the pre-pandemic numbers,” Verma shared. 

In-Person Events Are Back 

A momentous occasion, the recently concluded networking event was the first Lamudi Link since the pandemic started. Launched in 2019, the program aims to offer brokers a casual environment where they can get acquainted and explore business opportunities with each other. 

Because of the safety restrictions of the pandemic, the in-person networking event was halted. With the gradual return to pre-pandemic activities, Lamudi is set on resuming face-to-face gatherings again and strengthening professional ties with its partner brokers.  

Emphasizing the value of in-person networking events, Stern said, “Events like [Lamudi Link], especially Filipinos working together, connecting with people, and professionalizing the industry are really important to everyone’s success.”

The CEO added that Lamudi is working towards creating a community brokers can trust and providing the transparency the real estate market needs.

Building Trust with Partners

Part of forging trust with practitioners is making programs accessible. For the first leg of Lamudi Link, the company hosted the event in Servcorp, BGC, a location that professionals working in business districts can easily reach. 

Ellaine Ygot, Sales Director at Servcorp, expressed her delight in welcoming Lamudi brokers, talking about the incentives they offer for real estate professionals. 

She said, “We accredit brokers, so you have opportunities in terms of referring clients to us. We have a promotion for all the brokers for this month. We offer up to 15 percent commission to all your successful referrals.”

Aside from making events accessible to gain and retain the trust of real estate agents, Lamudi offers reliable solutions that allow practitioners to serve property seekers better. Anthony Kim, Strategic Accounts Lead at Lamudi, shared the competitive advantage of proptech.

With more people turning to the digital space when searching for their next home or office, property technologies, such as Lamudi, become increasingly important in the brokerage practice, according to Kim. In a nutshell, it promotes online visibility, enables multi-channel reach, and facilitates efficient lead management.

Introducing the Lamudi Executive Advisors (LEAD)

While highlighting the importance of networking events, Stern mentioned the company’s plan to gather its top-broker partners to serve as an advisory board. Introduced as the Lamudi Executive Advisors (LEAD), the group is a distinguished council composed of Lamudi’s most influential broker-advisers and ambassadors for the brand.

The members of the council are carefully chosen out of 3,000 competent real estate professionals subscribed to the platform. The group will meet every quarter to discuss a wide range of issues, including Lamudi’s strategy in the market, improvements on the brand’s products and services, as well as current and emerging real estate industry updates.

The members of the council will change every six months, providing opportunities for other partners to be the face of Lamudi’s broker campaigns.

More Networking Opportunities

Lamudi plans to organize more in-person networking events to help brokers grow their practice and achieve success. On April 26, there will be another Lamudi Link, gathering real estate brokers and developers. Similar to the first event, it will be held within Metro Manila.

The company is set to formally introduce the inaugural LEAD members in the next Lamudi Link. 

On April 20, The Lamudi Academy Live will tackle Networking for the Digital Age. Both in-person events will happen at the Lamudi headquarters in Makati.

While on-site activities are in full swing, Lamudi maintains its online learning sessions, which are conducted on Zoom.

To know more about the next networking activities, watch out for the announcement on Facebook and LinkedIn pages.

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The uptrend is aligned with the recent Philippine Economic Zone Authority announcement ordering a 100% return to office for all registered IT-BPO firms starting Apr 1, 2022. The mandate is consistent with existing laws requiring all companies to operate within the ecozones to avail themselves of tax incentives. 

CBD-Hosting Cities’ Robust Demand

CBD-hosting cities in Metro Manila are brewing with strong commercial property appetite. Upticks in residential rental inquiries in the same period point to a return to the metro as employees gear for face-to-face work.

In the financial capital of the country Makati, the P100K to P200K price range attracted the largest share of leads for commercial properties to rent in Lamudi in 1Q 2022. Offices followed by buildings and retail were the most popular commercial subcategories on Lamudi in the same period.

At the same time, demand for residential rentals in Makati grew significantly with leads increasing by roughly 40% from 4Q 2021 to 1Q 2022. Inquiries from property seekers outside of the metro increased during this period, with seekers from Cebu City and Calamba joining Imus and Angeles as part of the top sources of leads for the city.

In Pasig, the city hosting Ortigas Center, the leads for commercial properties saw a double-digit increase in percentage from 4Q 2021 to 1Q 2022. In terms of the most popular price segment for commercial properties for rent, the P100K to 200K generated the most leads in the first quarter of this year. In the same period, offices overtook warehouses as the most searched subcategory for commercial properties in the city. This coincides with an uptick in inquiries for residential rentals, which shot up by 28% quarter-on-quarter in 1Q 2022.

The leads for commercial properties in Quezon City had a double-digit increase in percentage from 4Q 2021 to 1Q 2022, with commercial rental properties priced P100K to 200K garnering the most leads. 

Transition to the Better Normal of Work

For two years, work-from-home (WFH) has become the norm amid the pandemic. However, with the favorable trends now, the number of coronavirus cases declining and lockdown restrictions easing, more businesses are urging workers to come back to the workplace. 

“While this offers promising opportunities for real estate players, it also presents challenges, primarily in making commercial spaces appealing to employees who have become used to working from home,” Lamudi CEO Kenneth Stern said. 

Stern mentioned that it’s essential to have value-adding amenities that promote work-life balance. These include daycare facilities that allow working mothers to bring their children to the workplace, and fitness centers that make it easy for professionals to embrace an active lifestyle. 

Know more about the trends taking shape in the commercial property sector and meet up with other real estate professionals at Lamudi Link, Lamudi’s broker networking night, happening this April 7, 5PM at Servcorp, Philippine Stock Exchange Tower, BGC. 

Visit https://www.lamudi.com.ph/ for more information. 

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According to the BSP, Colliers has been for more than 15 years one of its sources of insights and data on the real estate sector, which serve as inputs to several of its key reports. These reports provide information and analysis to support the review and formulation of monetary policy by the Monetary Board and review policy strategies used by the BSP to operationalize the stance of monetary policy.

As recognition to its contribution, Colliers has been recognized as one of the BSP’s most outstanding partners for information in 2018 and 2019.

According to Richard Raymundo, Colliers Managing Director: “The recognition from Bangko Sentral ng Pilipinas is a clear reflection of our excellent data-driven approach in the real estate service industry. We are grateful for the recognition and we look forward to further partnering with government institutions for accurate and reliable real estate data.”

Colliers Associate Director of Research, Joey Roi Bondoc, said: “We are pleased with this recognition from the BSP. Our goal is to become a major source of real estate information in the Philippines. We continue to provide timely and accurate information to our public and private sector partners. We commit to continue providing data-backed insights and recommendations thru our reports and briefings.”

Colliers regularly releases reports on the Philippine property market. Covering the office, residential, retail, industrial, and hotel sectors, these reports are published quarterly and are some of the most cited research by the local media, equity firms, and property developers.

In addition to these quarterly reports, Colliers also releases bespoke research covering up-and-coming markets and the latest issues affecting the sector. For instance, in October 2021, the company released reports on Iloilo’s office and residential sectors, while in May 2021 it released a report on future-proofing the office sector by adopting green and sustainable features.

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In the first quarter of 2021, the distribution of leads for properties to buy and properties to rent was nearly equal. This progression is telling of the changes in seeker priorities brought by the pandemic, including shifts in the way people approach renting properties. To guide property sellers in the new demands of rental seekers, Lamudi weighs in on three major trends in the real estate rental market in the time of COVID-19. 

ON-SITE HOUSING AS A HEALTH & SAFETY STRATEGY

In the early days of strict community quarantines last year, workers in export-centered industries were one of the few identified to be priority sectors – essential workers required to continue face-to-face operations and keep the economy afloat. Large-scale operations in industries such as food production, business process outsourcing, and other export-related services continued work as is, a difficult feat given the strict checkpoints and lack of public transport. To keep employees safe and minimize the need for travel, many companies provided on-site staff housing or availed of large residential spaces nearby for employees, as well as shuttle services to and from the plant to designated pick up or drop off locations.

Luxury rental demand continues to grow

The share of leads for luxury properties to rent worth PHP 200K – PHP 500K increased in Luzon and Visayas throughout the pandemic. In Luzon (outside Metro Manila), where many industrial plants and export processing zones are located, the share of leads for properties to rent within the PHP100K – PHP200K range increased in 2Q 2021 from the same period a year before. The same trend was observed in Metro Manila and in Visayas, with the lead share for properties within the same range posting slight gains from 2Q 2020 to 2Q 2021.

Demand for affordable rentals in the metro rebounds

In Metro Manila, we’re seeing demand for affordable rentals bounce back in 2021, as many return to the office or prefer proximity to the office as they transition to more flexible schedules in the new normal. Lamudi data shows a gradual recovery in leads for rental properties within the PHP 5K – PHP 15K range, which showed quarter-on-quarter gains since 3Q 2020 and has sustained a lead share above 30% since the first quarter of 2021.

For those not quite ready to purchase their own property yet as well as for many not based in the Metro, renting remains to be the more immediately accessible option. With renters worried about co-living in high-density spaces during a pandemic, property sellers can leverage amenities such as study and work stations, open air leisure facilities and updated safety measures to ease any concerns.

GROWING OPENNESS TO REMOTE WORK CULTURE IN PH

The growing openness of companies to work-from-home set-ups, increasing number of freelancers, and current global economic situation have driven many to opt to work in permanently remote positions. Defined by the World Economic Forum as an economy that “involves people who balance a range of income streams and work independently, job by job”, many in the country have chosen to become gig economy workers. 

Freelancing a practical career amid a health crisis

Joining the gig economy is not only a lifestyle choice that the digital nomads of the 2010s preach but a more practical reality for many fresh graduates, employees with little security and reduced wages, migrants, and creatives who wish to earn extra income during the pandemic. During a time when hiring rates are low, many fresh graduates and those freshly out of a job have turned to putting up small businesses and upskilling to enter freelance online-based jobs in order to start earning.

Property seekers prioritize health, seek balance

This has in part fueled the option for many to work remotely from leisure destinations such as Ilocos Norte, Siargao, Palawan and even Boracay. Provinces have recognized the demand from many young professionals to work from scenic places with plenty of outdoor amenities long term, and in the case of Ilocos Norte, have even incentivized for entrepreneurs and remote workers to put up shop on their shores.

According to Lamudi data, some of the most sought-after cities overall in the second quarter of 2021 were renowned leisure destinations or cities with easy access to nature. Baguio, Tagaytay and Antipolo joined Quezon City and Cebu City in the ranks as the cities which attracted the most searches overall from property seekers. 

While cities in Metro Manila were the most commonly searched areas in Lamudi, leisure destinations such as Siargao, Bohol, Boracay and Zambales are also heavily searched. 

Brokers and sellers are encouraged to highlight homes that promise a more balanced lifestyle – fresh air and natural open spaces still within close proximity to commercial hubs.

Property seekers continue to search for vacation destinations

The aforementioned leisure destinations, as well as Batangas Province and Lapu-lapu, amassed impressive overall leads growth figures in the second half of 2020 compared to the first half of the same year. In the second quarter of 2021, these leisure destinations continue to be some of the most searched locations in the Philippines, possibly attracting investors, end-users, and renters. 

With revenge travel refueling real estate demand, local hospitality markets incentivizing long term stays, and investors considering leisure destinations for their rental business, domestic tourism has found an unlikely promoter in remote work. Brokers and managers of properties in these areas must monitor tourism recovery initiatives, travel requirements in vacation spots, and Department of Tourism-accredited tour operators to ensure a safe and transparent travel experience for clients.

AS OFFICES REOPEN, MOBILITY REMAINS A PRIORITY

For the many that will be returning to the office, a home that enables mobility such as those close to mass transport hubs is the most practical choice. Renting a home near a bus stop or rail station allows for easier access to key commercial areas across Metro Manila. Lamudi data on proposed Metro Manila Subway destinations – areas with major foot traffic – shows that more property seekers were looking into rental properties in the second quarter of 2021. “Rent to own” was the top searched non-location specific term on the site in 1H2021. In spite of the pandemic, Lamudi data shows that areas such as Ortigas Avenue, West Rembo and Western Bicutan were primarily rental markets from 1Q 2020 to 2Q 2021 – likely due to their proximity to CBDs in Pasig, Makati and Taguig, as well as mass transit. 

Aside from point-to-point bus stops available nearby, residents of these cities get some variety in terms of transportation options. Ortigas Avenue has access to the MRT-3 line and soon MRT-4. West Rembo is within close proximity to the BGC-Ortigas Bridge and between the Guadalupe and San Joaquin ferry stations. Meanwhile, Western Bicutan is home to the Philippine National Railway – FTI Station.

Many residents in these areas are able to access these transportation options via motorcycle, on foot, or via bicycle to minimize transfers. The efforts of alternate mobility advocates across the metro have played a pivotal role in improving the commuter experience and quality of living. 

Real estate brokers and owners must gear for eventual return to work

Real estate owners would do well to hold on to their properties in these areas as land values appreciate upon completion of the subway project. In the meantime, should residing there not be the best option, owners can rent out the property to young professionals, small businesses and even BPO companies in need of staff housing depending on the owner’s property type and size. 

With more vaccines arriving, a sizable share of workers who had moved back to their home provinces during the pandemic may be returning to the metro in search of accommodations close to the workplace. As such, brokers and property managers must be prepared to cater to seekers online – that is where seekers will be searching potential homes and making the necessary transactions. With on-site tours and ocular inspections not accessible to them, property seekers will put a premium on transparent  and high-quality online listings as well as attentive customer service.

Virtual tours, quality photos, responsive online customer service, and transparent processes show the professionalism of the property owner or broker and help improve the online real estate renting experience.

KEY TAKEAWAYS

The rise of online learning and remote work open up new rental markets and opportunities to create value in local economies still recovering from the impacted travel industry. To summarize, here’s a recap of our key insights:

• Mid-rise condos, houses with multiple bedrooms, and other types of private residential housing present attractive options for companies in search of staff housing or on-site housing near their office.

• Freelancers and remote workers are looking for long-stay accommodations outside the metro. Those with vacation rentals can pivot to meet that demand by adding work-from-home essentials such as high speed internet as well as providing assistance with travel requirements.
• Finding a safe and accessible home is still a priority for many renters returning to work in the metro. As many will still be searching for properties from the security of their home province before considering the move, brokers must be present online to cater to rental inquiries.

The future of work is not purely remote nor completely back to the old normal of daily face-to-face interaction. With offices more open to different working styles, the city will experience new schedules of worker-travelers – some alternating between the home and the office on a bi-weekly basis, others making the move across regional borders, and many choosing temporary homes in areas slated to benefit from nearly-finished infrastructure projects. The way workers work is changing, and so is the way they live.

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Key Insights from 1Q2021 Real Estate Demand within PH

• • Leads for purchase listings outweighed that for rental listings in 1Q2021.
• Leads for properties to purchase in Luzon had the highest growth, while leads for properties to rent had the highest growth in Mindanao.
• Houses composed the most leads but commercial properties showed the most potential for growth based on its performance in 1Q2021. 
• Across regions, land showed the strongest quarter-on-quarter lead growth. 
• Condominiums in Mindanao had the highest lead growth compared to other regions. 
• Leads for properties for sale were fairly distributed across different price ranges.
• Quezon City remains to be the most searched city in the country, receiving leads by a wide margin. In Q1 2021, the city attracted almost the same number of leads from Pasig, Paranaque and Taguig combined.
• In Luzon, the biggest growth quarter-on-quarter came from the 35 to 44-year-old age bracket, who may be more established in their careers or are looking to upgrade their family home. 

Key Insights from 1Q2021 Real Estate Demand from Overseas

• The 25 to 34-year-old age bracket composed the majority of leads in 1Q2021, but the 65 and up bracket posted the largest quarter-on-quarter growth.
• Houses composed the most leads but commercial properties showed the most potential for growth based on its performance in 1Q2021. Commercial properties to buy or rent showed the highest quarter-on-quarter increase with almost 13%.
• The top overseas property seekers were also from Asia, save for those based in Los Angeles. Developers looking to expand are encouraged to branch out regionally first – in either the Middle East or Singapore.
• Cebu City is the only location outside Metro Manila among the top five most searched cities by overseas property seekers.

Visit Lamudi for online knowledge resources, real estate news, trend analyses, and tips and advice on everything real estate – beginner investment briefers, land registration, interior design, market movements and more.

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In the first quarter of 2021, seekers were eager to move forward with more calculated investment strides, especially after the country experienced a down trending unemployment rate and a slightly improved consumer confidence in the previous quarter. While economic activity in the fourth quarter of 2020 had been positive, research firm IHS Market expects the surge in new COVID-19 cases in mid-March 2021 to constrain the country’s pace of economic recovery. In this report, Lamudi looks into the performance of the residential real estate market in 1Q2021 as consumers adopt new attitudes towards purchases and investment. 

RESIDENTIAL REAL ESTATE DEMAND IN 1Q2021

In the first quarter of 2021, Lamudi saw shifts in property demand trends as seeker age groups explored different properties compared to previous quarters.

Gen X drives growth in condominium market.

The first quarter of 2020 saw college students and fresh graduates of the 18 to 24 age bracket leading in terms of pageview growth for condominiums. Consumer preferences in the first quarter of 2021 revealed a new trend. This year, seekers aged between 45 to 54 commanded the highest year-on-year growth figures for pageviews for condominium listings at an impressive 106.80 percent. Seekers within the 35 to 44 age bracket also showed more interest in condominiums in 1Q2021, exhibiting the highest quarter-on-quarter pageview growth at 6.68 percent. 

Lamudi’s previous trend report titled The Outlook on the Residential Market: Property investment as a safe haven during a crisis revealed a recovered demand for housing in central business districts (CBDs) in the first half of 2020. With flexible schedules and remote work continuing to be the norm, more C-suite executives within the age group may be looking at homes closer to the office.

Although lead growth from the 25 to 34 age bracket weakened this quarter compared to the last, the age group still contributes the largest lead share for condos. Data from this quarter also revealed that while the luxury condominium units priced above 20M attracted the most pageviews at 21% out of all property types, listings priced 1.5M to 3M contributed the most leads. 

As more millennials look at real estate as a viable investment option amid the pandemic, first-time buyers may be pursuing more immediately accessible price points albeit showing preference for aspirational residential options. Sellers may add value by retrofitting units with aspirational interior designs and lifestyle-centric amenities such as sleek modern furnishings, smart appliances, and large windows.

Apartments led the property search in terms of lead growth. 

Apartments led growth for leads by property type in the first quarter of this year. Leads for apartments increased by 16.11 percent in the first quarter of 2021 compared to the same period in 2020. The uptick in leads for apartments may be driven by consumers’ desire for extra space without compromising the experience of living large in units smaller and more affordable than the single-detached house.  

Seekers aged between 25 to 34 led demand for this property type, contributing 42.76 percent of all leads for apartments. Its size is especially attractive to young professionals and couples planning to expand their family and wish to move in immediately. With the country forecasted to witness a boom in newborn babies within the first half of 2021, as reported by the Commission on Population and Development in January 2021, the next few months may see more couples wishing to increase their floor area. 

Leads for apartments were most prevalent in Quezon City and Manila in the first quarter of this year, which contributed 36.74 percent and 23.74 percent of leads respectively, out of the top five apartment location markets in the country. Quezon City and Manila were followed by Pasig (18.94% of leads), Makati (12.12%) and Caloocan (9.09%).

Outside of Metro Manila, Cebu was the strongest apartment market at 34.14 percent of leads in the first quarter of 2021. In Mindanao, Davao received the most pageviews for its apartments in 1Q2021 but Cagayan de Oro received the most leads at 54.85 percent.

Residential market for retirees showed signs of recovery.

Out of all age groups, property seekers over the age of 65 showed the most optimistic growth figures in the first quarter of 2021. After posting a 107.89 percent dip in annual pageview growth in the first quarter of 2020, interest from the retiree market rebounded to an uptick of 80.32 percent in the same period in 2021. The positive trend is indicative of an older population adjusting to the Internet of Things (IoT) and growing their presence on digital platforms. The age group also exhibited the highest year-on-year (93.58 percent) and quarter-on-quarter growth (77.16 percent) in pageviews for houses in the first quarter of this year.

The 65 and up age group demonstrated the highest growth in annual pageviews for land listings as well. After decreasing by 38.90 percent quarter-on-quarter in the second quarter of 2020, pageview growth from the age group slightly improved over the next consecutive quarters. Annual figures were more impressive, with pageviews from the retiree market increasing by 109.79 percent in 1Q2021 from 1Q2020. The uptick is supported by the consumer segment’s purchasing power, as well as the appeal of land as an asset that only continues to appreciate in value – an especially attractive point for consideration given the increased risk aversion following the pandemic outbreak and global crisis.

Antipolo continues to lead the house and land market outside Metro Manila.

Outside the bustle of Metro Manila, Antipolo was the prime location of choice for house seekers and land seekers in the first quarter of this year. Antipolo garnered 24.05 percent of all pageviews for property seekers looking for houses outside the region. The city also attained the largest share of leads for that period at 39.11 percent. For land, Antipolo attained the greatest share of pageviews outside Metro Manila at 38.58 percent, and the largest share of leads at 30.61 percent. Identified as one of the leading leisure destinations in Lamudi’s most recent trend report, Indicators of Growth: Where to Invest in 2021, the city’s abundant green space and tranquility makes it an excellent option for seekers looking for a relaxed pace without moving too far away from family in the metro.

More seekers flock to Calabarzon in search of repossessed properties.

Seekers looking to invest in foreclosed properties showed a preference for the Calabarzon region the first quarter of the year. Foreclosure seekers appeared to zone in on San Pedro in Laguna, which attracted the most pageviews from the seeker market at 26.74 percent. This was followed by Bacoor in Cavite and Lucena in Quezon Province at 20.93 percent each, Quezon City at 16.28 percent, and General Trias at 15.12 percent.  Given all the new residential, commercial, and infrastructural projects developing in Southern Luzon, the trend may be driven by seekers looking to capitalize on more affordable properties in a region ripe with opportunities for price appreciation.

Interestingly, younger age brackets showed the most interest in foreclosed listings. The 25 to 34 year old consumer segment shared a notable share of pageviews for repossessed properties at 47.19 percent. The trend reinforces millennials’ increased desire to manage their personal finances and pursue sound investments. The significant interest in foreclosed properties indicates the age groups’ diligence in identifying opportunities to maximize their home-buying budget, or create other streams of income through short-term investment.

RESIDENTIAL REAL ESTATE SUPPLY IN 1Q2021

Listings on Lamudi showed a sustained increase in 1Q2021, with houses followed by land continuing to contribute the biggest share of listings. Year-on-year growth data also revealed land and apartments posting the highest increases.

More land to buy or lease in 2021.

In terms of supply, land and apartments experienced the largest growth in number of listings year-on-year in the first quarter of 2021. Listings for land on Lamudi grew by 120.8 percent in 1Q2021 from 1Q2020, while listings for apartments grew by 38.7 percent. The property types contributing the largest number of new residential listings in the first quarter of this year were houses, which contributed 56.80 percent of new listings for that period, and land at 29.01 percent. In the fourth quarter of last year, houses and condos were the most prevalent property types listed at 46.59 percent and 29.68 percent respectively.

Data for the first quarter of 2021 points to a rise in available land to purchase or lease. With the ongoing pandemic, some landowners may be seeking to convert their land assets, free up cash and beef up their emergency funds. Given the rise in cloud-based services and the consequent demand for warehousing and logistics spaces, others may be looking to create larger passive income streams as they lease out their land for industrial or commercial use and collect rental payments.

RESIDENTIAL REAL ESTATE SUPPLY IN 1Q2021

Lamudi data in the first quarter of the year showed property seekers putting the creation of a home environment that promotes their health, well-being, and productivity as a top priority. Demand for fitness amenities and a strong internet connection in a property continued to increase.

Demand for health and wellness amenities, strong internet connection continue to grow amid delayed vaccine rollouts and extended quarantines.

Fitness amenities such as swimming pools and gyms continue to be property seekers’ top desired property features, increasing from a lead share of 32.84 percent in the last quarter of 2020 to 34.19 percent in the first quarter of 2021. The recent crisis has pushed consumers to consider their health and well-being in their purchases, and the home environment significantly influences an individual’s lifestyle now more than ever. Given its consistent rise in leads over the last year, more property seekers are expected to look at health-related amenities as a prime consideration in their purchasing decisions.

Having a reliable internet connection also grew increasingly important this year, increasing from 12.57 percent of all amenity lead s last quarter to a greater share of 18.24 percent in 1Q2021. With the delayed vaccine rollouts and reinstated community quarantine restrictions, flexible work and remote classes appear to continue being the status quo. Given this, a strong internet connection has become an essential feature of the home rather than an added amenity.

KEY TAKEAWAYS

The past quarter has seen large shifts in preferences from different consumer segments. The residential market has undoubtedly changed, as we see more activity from older age groups and witness changes in seekers’ property type preferences. 

To recap, here’s a summary of our key insights:

Shifting preferences

• Trends point to younger property seekers becoming more open to considering foreclosures and affordable properties as an investment vehicle.
• Previously dominated by fresh grads and millennials, the condominium market witnessed an uptick in demand from parents and executives in the 45 to 54 age range — a trend driven by prolonged remote work and school.

Family matters

• Driven by demand from young professionals and couples considering larger spaces, apartments showed optimistic growth figures in 1Q2021.
• The market for retirement-ready properties and family homes grew in the first quarter of the year, with property seekers aged 65 and up contributing a remarkably high increase in pageviews on the site. They were particularly interested in listings for land.

Eagerness to invest

• More property seekers looked to Region IV-A for purchasing foreclosures, a development indicative of a more investment-forward market.
• Land was dominant in terms of new supply on Lamudi in the first quarter of this year, as owners seek more liquidity.

Real estate trends in 1Q2021 point to Filipinos acting on their demand and appetite towards investment gaining more traction. With the country’s population growing more rapidly, more property seekers freeing up cash, and consumer brackets with more purchasing power becoming increasingly active in the online real estate space, Lamudi has observed a more eager residential property seeker market. Should planned vaccine rollouts take place in due time, household spending and the economy as a whole should inch towards full recovery. 

While the real estate market has shown optimistic signs in the first quarter of the year, the recent announcements of a stricter lockdown followed by an extension of that quarantine period is concerning. The improvement of our public health remains to be an essential driver of our economic development during these times, and investment in any long-term asset will be more probable as both disposable income and consumer health is improved and assured. 

For trend report requests or inquiries, contact deborah.ong@lamudi.com.ph or mark.bailey@lamudi.com.ph.

The post THE OUTLOOK ON THE RESIDENTIAL REAL ESTATE MARKET: Pandemic Spurs Digital Adoption in Boomers and Gen X in 1Q2021 appeared first on Village Connection PH.

For the real estate industry, the first quarter of 2020 saw some of the hardest struggles, with the Taal volcano eruption happening in January, growing concerns about the novel coronavirus in February, and the subsequent announcement of the enhanced community quarantine (ECQ) midway through March. 

Surveyed property seekers last year mentioned they were keeping their property buying timeframe open, with 34% considering a property purchase a year after the start of the pandemic. Monitoring property demand on Lamudi across all price points, most price segments experienced year-on-year dips in pageviews on Lamudi in 1Q2020. Demand one year later in 1Q2021 points to recovery across all prices, with high-end properties proving most resilient during a time when cash is king, while the affordable segment showed the dream of homeownership is alive amid a health crisis. 

High-end properties for sale lead recovery in the residential market

The luxury market, the only segment that posted positive year-on-year growth in pageviews in 1Q2020, saw a 33.7% average growth in pageviews year-on-year in 1Q2021. Leads for the luxury segment were particularly strong in 1Q2020 compared to 1Q2019, with houses priced over 20M posting a 222% growth. This grew by an additional 18% in 1Q2021. 

As the country faced unprecedented challenges which highlighted the importance of cash, those with more purchasing power took the opportunity to consider investing in real estate–a financial move advised by investors during times of crisis. 

Laborers showed strong desire to own a home amid the pandemic 

Even outside the luxury segment, the importance of owning a home proved strong amid the pandemic. For affordable houses for sale, properties priced less than 450K saw a 46% growth in pageviews in 1Q2021 compared to 1Q2020, posting the highest recovery rate in the affordable segment. Property seekers realized the importance of owning a home when mobility restrictions were put in place. The proximity of one’s home to essential establishments and place of employment greatly affected their mobility, comfort, and capacity to work at such a critical time. 

Houses in this price range were also the second most inquired property in 1Q2020 compared to 1Q2019 at 128% growth in leads, which continued to grow by 38% in 1Q2021. 

Pandemic property demand calls for safe property search at home 

The interest across all price segments fueled Lamudi’s decision to bring its much-anticipated housing fair online this May. As property buyers revive their confidence in investing in real estate, the free event will help them get the best value for their money through special deals and exclusive offers from featured developers. Since 2016, Lamudi has been organizing housing fairs in various cities across the country, bringing real estate seekers closer to their dream properties. Previous housing fairs were held in shopping malls, including SM Mall of Asia, Trinoma, SM City Cebu, and Glorietta–a setup that would not be ideal in the new normal. 

Seeing the demand for homeownership bounce back in 2021, Lamudi has decided to host the first and biggest online housing fair in the Philippines through a digital platform showcasing exclusive offers from property developers such as RLC Residences, AboitizLand, Federal Land, Shang Properties, Prime Homes, Solar Resources, PH1 World Developers, ACM Homes, DMCI, and PIK, as well as the real estate brokerage PropertyPro. 

Sponsored by Nook, Kamada, and the Subdivision and Housing Developers Association, Inc. (SHDA), the Online Housing Fair will officially open on May 3 and last until May 31, 2021. The event’s official media partners are BusinessWorld and Mindanao Times. 

The online housing fair will feature the Pag-IBIG Fund to talk about affordable housing loan programs, and Atty. Siegfrid S. Suarez, the Legal and Compliance Officer of Lamudi Philippines, to answer land title transfer concerns. Renelyn Tan-Castillejos, a Certified KonMari Consultant and the founder of World of Yorokobi, will teach attendees how to tidy and organize their homes. Clean All PH and Happy Helpers will also give valuable advice on how to deep clean and sanitize the home in the new normal, and SoFA will be sharing home interior design tips. Learn to start your own garden at home with tips from ZassyGreen – All About Plants. 

A first in the history of Lamudi, the online housing fair marks a significant milestone for the company. CEO Kenneth Stern said, “For the past years, Lamudi’s housing fairs have been held in malls all over the country. Our team has been working hard to address the limitations to property buying brought on by the pandemic, which is what led to us deciding to bring the housing fair online.”

Visit the Lamudi online housing fair through this link. 

The post Lamudi brings together the biggest lineup of developers with exclusive deals at Online Housing Fair appeared first on Village Connection PH.

Fortunately, making that dream into a reality has been made attainable. Take it from CitiGlobal Realty and Development Inc., a top real estate developer offering first class affordable and income-generating properties. Filipinos can now have homes and meaningful communities.

CitiGlobal says that Tagaytay is one of the best places for Filipinos to bring their families for an enjoyable time or create a new home and experience a good life. At Tagaytay, Filipinos can breathe in the fresh air, feel the cool weather, dine in at nice restaurants, and travel faster and easier thanks to new routes and highways, lessening road congestion.

Other than that, here are other experiences you can cherish when you get your dream home property in Tagaytay.

Relax and Take the Break You Need

We all worked hard to live the life we want to live or give our families a chance to make the most of their opportunities. At Tagaytay, we can finally take a break from all the hard work and reap all the fruits of our labor. 

Relax with a glass of your favorite drink and let the bubbling heat of the jacuzzi cleanse your body from all the stress, or if you feel the need to burn all the stress away, you can grind at the gym. You can also have a lovely dinner with your loved ones or closest friends at a luxurious clubhouse for everyone to enjoy.

Enjoy Some Much-Needed Family Time

Summer is officially here, so spend time with your family and cool down at the swimming pool for some crazy fun and just play without any worries with your kids at the playroom. You can also have some quality time with your family while learning at the library.

Start your search for your dream home and begin the good life in Tagaytay with the help of a reliable developer. CitiGlobal recently capped off the development of its Tagaytay Fontaine Villas (TFV). This master-planned subdivision offers affordable house-and-lots for sale that provides comfort, luxury, and convenience. 

With complete and fully functional and modern amenities, TFV gives middle-income families the space and comfort they have been looking for themselves, particularly their children. Here are some reasons how its deluxe amenities will provide you and your family a good life.

TFV is just one of CitiGlobal’s real estate developments aimed to revolutionize the Filipino mindset on leisure properties while giving new investment opportunities for ordinary working-class Filipinos. 

To learn more about CitiGlobal, visit its website at https://citiglobal.com.ph/ or send them an email at info@citiglobal.com.ph for inquiries. If you have properties to offer, you may reach them via Viber (0949-889-3252).

The post CitiGlobal’s‌ ‌Tagaytay‌ ‌Fontaine‌ ‌Villas‌ ‌ appeared first on Village Connection PH.

However, due to the pandemic, their savings might be spent on more immediate needs, especially since the current situation put the country’s economy into recession. That is why financial experts say that OFWs should consider putting their extra income into long-term investments, like real estate properties. 

Take it from Bossing Vic Sotto, who has seen the importance and advantages of having property investments that he considers safe and a good source of passive income, especially for OFWs considering retirement. 

“Investing in property is one investment that OFWs won’t regret, as long as they carefully plan ahead to make it successful. When you have done it right, you will reap the fruits of your labor,” Bossing said. 

If you are an OFW, Bossing wants to show you why investing in properties can be the long-term investment plan for you.

Properties have a predictable cash flow. One of the benefits of real estate investments is its ability to provide you greater cash flow. Over time, the more you have paid off mortgage payments and operating expenses, the more your net income from the investment increases.

Properties can increase your assets. As you pay down your property mortgage, you build an equity–an asset that is part of your net worth. By growing your equity, you can leverage it to buy more properties, as well as to increase your cash flow and wealth even more.

Properties appreciate in value. Real estate’s value increases over time, especially when you invest and take care of it properly. For instance, a 1,000sqm property in a Quezon City subdivision  was worth 150,000 pesos during the 1970’s.  Now it is easily worth 150 Million Pesos.

Improving the property’s state can grow its worth. Since properties are made of tangible materials, you can change their entire look when needed. Whether you are designing to repair flaws or improve its cosmetics, changing its design will make it more valuable than its previous state.

Properties is a perfect retirement plan. The value and the cash flow of properties increases over time. So, the longer you invest in real estate, the more you can earn in the long run. It makes itself the perfect retirement plan for anyone who wants to continue earning even after retirement.

For OFWs, another option is to turn it into a condotel, which could generate easy passive income. And since the Philippines is an attractive tourist destination attracting visitors every year, it adds to the advantage for Filipino investors. Investing in condotels near tourist spots will grow your chances of success when the economy starts to recover.

Bossing also believes in preventing yourself from making common investment mistakes like choosing the wrong location or asset. Looking for reliable real estate developers will help you lay down your property investment roadmap to success. 

For instance, CitiGlobal Realty and Development Inc., a top real estate developer, which according to Bossing, is helpful as it offers affordable and income-generating properties in the country, provides high demand and affordable properties for investors.

The company envisions becoming a top real estate developer in the country, effortlessly putting the Philippines’s best tourism locations on the map through their real estate properties like Tagaytay Fontaine Villas, Tagaytay Clifton Resort Suites in Tagaytay, and Diamond Beach Resorts in Palawan, and other upcoming projects dedicated world-class real estate developments showing the beauty of the locations. And provide investment opportunities for OFWs to have back in the country and be with their families.

To learn more about CitiGlobal, visit its website at https://citiglobal.com.ph/ or send them an e-mail at info@citiglobal.com.ph for inquiries. If you have properties to offer, you may reach them via Viber (0949-889-3252)

The post Bossing Vic Sotto: Why Real Estate Properties are Good Investments appeared first on Village Connection PH.