The Internet has paved way for people to connect even on great distances, revolutionising how communication works with the dawn of instant messaging, social media updates, and tons of selfies.
There is no doubt that the Internet has become a big part of the makeup of one country’s economy, as businesses, as well as government institutions, jump ship on the cyberworld platform the ’net has spawn into. The technology Internet comes with is continually disrupting and innovating processes from financial institutions to manufacturing, and even in sectors like real estate, which is considered to be a people-centered business. Real estate professionals are increasingly using the Internet to deliver information to their clients. The use of mobile phones, laptops, and tablets makes it easier for them to make engagements.
This is the reality of the Philippines’ real estate scene. The Lamudi Real Estate Market Report 2017 noted that 65% of surveyed real estate brokers prefer to advertise their properties online. In 2016, 59% of agents advertised their listing on websites and apps while 18% used social media. With the country’s Internet penetration sitting at 43.5%, developers, as well as real estate brokers, are leveraging the web to translate their marketing campaigns into sales.
Property-seekers, on the other hand, are now presented with a multitude of information about the different property projects in the most sought-after areas. A quick Google search could potentially land them in their dream house.
Below are some of the most popular locations for the Internet-savvy individuals looking for properties online:
It is true that Makati City is one of the most expensive cities in the Philippines to live in, given its reputation as one of the major drivers of the country’s economy. Despite this, however, a lot of the netizens are willing to spend on just as much to get the ease and convenience the city has to offer. Condos for rent in Makati are frequently searched by home-seekers. While these units are saturated in the business district, developers are now seeing the value of city fringe areas as land supply in the central area becomes scarce.
Housing costs in Makati are significantly higher than those in nearby cities. Rents for a studio unit in the most affordable condo, for instance, may reach up to Php25,000 monthly. Upscale ones have pricier rents of at least Php100,000.
Office and commercial spaces also abound in Makati, as it teems with skyscrapers and shopping malls.
The land-rich Quezon City is definitely one of the most sought-after place when it comes to real estate. Being the largest city in the National Capital Region, QC, as it is commonly referred to, enjoys access to all other major cities in Metro Manila including Makati, Pasig, Mandaluyong, and Taguig. Not only home-seekers want to take their chances in Quezon City, as businesses are also on the prowl for commercial sites where they can set up shop and thrive. Office spaces in the business district of Eastwood City are also a popular search item for companies looking for spaces.
The city has a strong transport system network, boosting its connectivity. The city has access to a long stretch of the Epifanio de Los Santos Avenue (EDSA) as well as the three major rail stations servicing the whole of Metro Manila.
The Crown Jewel of Mindanao is also on the list of places to be. As one of the largest and most populous cities in the country, Davao is frequented by property-seekers wanting to experience the perfect balance of nature and urban living.
While investments came pouring onto the city, it has managed to keep its cost of living relatively cheaper compared to the bigger powerhouse cities in Metro Manila. Renting a decent-sized place in a subdivision only costs at least Php7,000 a month.
The proximity of the Rizal Province to the greater metropolitan area makes it enticing for property seekers who want to avoid the skyrocketing costs in the urban jungle. The province is known for its thriving art communities and tourists destinations. These make the province an attractive spot for property investments.
Its capital, the city of Antipolo, is in the running to become one of the economic drivers in the country. It houses major establishments ranging from business process outsourcing to financial institutions and retail sites.
Being a subdivision city, Parañaque has continually attracted home buyers who prefer landed properties. While the city has seen a number of condominium projects being erected, it still maintained its reputation when it comes to landed homes. Among the city’s popular and most-sought after subdivisions are BF Homes, Greenheights Subdivision, and Better Living Subdivision.
The city is also known as a gambling capital of the Philippines, as it nestles big hotels and casinos like The Solaire Resort and the City of Dreams. Parañaque, like its neighboring cities, has also been evolving into a center for trade and business.
As the heart of business scene in the Visayas, Cebu City has seen an influx of property-seekers. They are flocking the city given its diverse real estate offerings. The city is becoming an important hotspot for business, thanks to its favorable environment, robust workforce, and sustainable environment. The booming BPO industry in Cebu has spurred demand for condominium projects in the city.
The Lamudi Whitepaper is seeing the resilient and healthy demand for office spaces, given the growing BPO industry in some of the key areas in the country. And while these key cities are gradually losing land supply, more developers are expected to veer their sights away from these business districts to other provinces which have the potential to be the next real estate gem.
It would be interesting to note how this will affect the behavior of netizens when looking for properties online. One thing is for sure: The Internet, and all the disruptive technologies it has given birth to, will be crucial in transforming the real estate industry of the Philippines.