According to Statista, the real estate market in the Philippines had an approximate gross value of $8.97 billion in 2021. In other words, the sector is booming, and developers are starting to target a new demographic: young professionals. It’s not shocking as to why, either.
For one, young professionals are usually single or have yet to start a family. They’re also more financially stable than other demographics and often have higher disposable incomes. As such, they can afford pricier homes and aren’t as risk-averse when it comes to investing in property.
Here are some real estate trends that have been targeting young professionals in the Philippines as of late.
Rent-to-Own Schemes
Young professionals in the Philippines are always on the lookout for affordable housing options, and rent-to-own schemes have become increasingly popular in recent years. With this scheme, you can rent a property for some time before deciding to purchase it outright. This type of scheme is often attractive to young employees who are not yet ready to commit to a long-term purchase.
For instance, in most agreements, tenants would have the option to buy their units after renting for two years. This is ideal for those who want to live in prime locations but aren’t able to afford the down payment for a property just yet. Developers have been quick to catch on to this trend, and many are now offering rent-to-own schemes in their projects.
Condominiums
Condominiums are another popular type of housing for young professionals in the Philippines. Many young professionals appreciate the maintenance staff, 24/7 security, and other amenities that condominiums have to offer. In addition, condominiums are often located in central business districts, making them convenient for young professionals who work long hours and do not have much time for commuting.
Condominiums are typically located in the heart of the city and offer a variety of amenities, such as swimming pools, gyms, and clubhouses. These leisure facilities are some of the appealing features of condominiums, making them a sound investment. Thus, investing in a pre-selling condo in Davao City is a wise financial decision if you’re based in the southern part of the country. Aside from that, most of these pre-selling projects are also located near hospitals, malls, schools, and other establishments.
House and Lot Packages
For those looking for a more permanent solution, plenty of house and lot packages are available on the market. These packages often include all the necessary permits and documentation, making the purchase process easier and less stressful. In addition, many of these packages come with flexible payment options, which is ideal for young professionals who may not have a large amount of cash on hand.
Townhouses are another popular type of housing for young professionals in the Philippines. Many young professionals appreciate the privacy that townhouses offer and the fact that they often come with their own yards or gardens. In addition, townhouses tend to be more affordable than other types of housing, making them an excellent choice for budget-conscious buyers.
Loft Units
Loft units are becoming increasingly popular among young professionals in the Philippines. These units often have high ceilings and an open floor plan, which gives them a spacious and airy feel. In addition, loft units tend to be located in prime locations, such as central business districts or near popular nightlife spots.
Aside from the modern feel of loft-type units, many young professionals are also drawn to the unique layout and design. For example, some loft units come with a mezzanine level that can be used as an extra bedroom or an office space. Others have balconies that offer stunning views of the cityscape.
Co-living Spaces
Co-living spaces have become increasingly popular among young professionals in the Philippines. These spaces often offer a variety of amenities, such as high-speed internet, laundry facilities, and common areas for socializing. In addition, many co-living spaces are located in prime locations, making them convenient for those who work long hours.
This is ideal for those who have a more permanent residence in a different city but still want to be close to the action. For example, there are plenty of co-living spaces in Manila that offer a variety of amenities and are located near popular nightlife spots.
Fractional Ownership
Fractional ownership is another popular trend among young professionals in the Philippines. This type of ownership allows buyers to purchase a portion of a property rather than the entire unit. This is often done through a timeshare company or a developer.
Many appreciate the flexibility and affordability that fractional ownership offers. For example, it can be a great way to invest in a property without having to come up with the entire purchase price. In addition, this kind of ownership often comes with a variety of amenities, such as access to a swimming pool, a gym, and a clubhouse.
In essence, with rent-to-own schemes, condominiums, house and lot packages, loft units, co-living spaces, and fractional ownership all becoming increasingly popular among the young demographic, there is no shortage of options for those looking to invest in Philippine real estate. So whether you’re a first-time homebuyer or an experienced investor, be sure to keep an eye out for these trends when considering your next property purchase!
