Online property placement portal Lamudi said college students and fresh graduates, aged 18 to 24 are getting active in searching condominiums online in the first quarter of the year.
Those aged between 45 and 54 meanwhile have posted the highest increase in pageviews for condominium listings for the period, a growth of 106.80 percent.
“Seekers within the 35 to 44 age bracket also showed more interest in condominiums in the first quarter, exhibiting the highest quarter-on-quarter pageview growth at 6.68 percent,” Lamudi said.
“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 P20 million attracted the most pageviews at 21 percent out of all property types, listings priced P1.5 million to P3 million contributed the most leads,” Lamudi also said.
Apartments led the property search in terms of property type. Leads for apartments increased 16.11 percent, attributed to 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 and 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,” Lamudi said.
“Leads for apartments were most prevalent in Quezon City and Manila, 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 percent of leads), Makati (12.12 percent) and Caloocan (9.09 percent),” Lamudi said.
“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,” it added.
Antipolo continues to lead the house and land market outside Metro Manila.
“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,” Lamudi said.
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.
Lamudi said 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.
Seekers looking to invest in foreclosed properties meanwhile showed a preference for the Calabarzon region with foreclosure seekers zoning in on San Pedro, 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,” Lamudi said.
“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,” it said.
“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,” it added.
Lamudi said 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.
