Demand for properties for -sale on Lamudi showed a slight uptick at the start of pandemic-induced restrictions last March 2020, highlighting the importance of having a safe home during a health crisis.
Two years after, real estate demand has become stronger, growing by 10 percentage points compared to pre-pandemic numbers.
Lamudi said interest is strong South of Metro Manila (Imus, Dasmarinas, General Trias, Tagaytay, Bacoor and Silang in Cavite, as well as Santa Rosa and Binan in Laguna) and in the East (Antipolo and Cainta in Rizal).
Rizal is one of the regions in Luzon that saw a stronger buying appetite following the pandemic. For-sale leads on Lamudi in the first quarter if 2020 accounted for 70 to 75 percent of overall lea in Rizal.
As of the current quarter, the range rose to 79 to 84 percent of overall leads.
Rizal’s demand for condominium developments has also shifted during the pandemic. From May to November 2020, rental inquiries dominated condominium transactions, which saw a reversal in 2021 with an uptick in for-sale leads for the property type.
Kenneth Stern, Lamudi Philippines managing director and chief executive officer, said strong property appetite can contribute to economic recovery.
“Overall, the pent-up demand has been somewhat released… over the next quarter and even the second half of the year, we’ll see pent-up demand further drive the economy with a stable industry like real estate.”
