Some things remained the same for the Philippines real estate sector, such as interest in popular locations among property seekers.
In its Hotspots Unwrapped: 2020’s Most Popular Locations report, Lamudi Philippines said popular real estate locations managed to remain resilient in terms of demand.
“Cities that host central business districts have maintained their popularity throughout the year,” Lamudi said.
It said that while everyday activities like work have become less dependent on location because of the rise of virtual arrangements, property seekers still put a premium on living within or near cities that offer various employment opportunities.
Quezon city most in-demand
Quezon City is the most in-demand real estate location on Lamudi’s property listing portal, registering 12.76 percent of total page views in 2020.
“Interestingly, 24.05 percent of Lamudi’s active property seekers come from this location as well. As much as it’s a real estate hotspot, a lot of the current residents in the area are actively looking for property locally,” Lamudi said.
Following Quezon City is Makati, which accounted for 7.16 percent of page views. Pasig and Taguig grabbed the third and fourth spot among popular locations, with a 4.56-percent and 4.40-percent share of page views, respectively.
“They remain to be popular as they offer greater convenience and mobility going to and from workplaces,” Lamudi said, emphasizing that the three cities also host business districts.
Manila ranked fifth, accounting for 4.02 percent of page views. Parañaque followed, with a four-percent share, and Mandaluyong with 2.81 percent.
Many cities have experienced greater interest this year due to development, fueled by the public and private sector spreading into cities beyond business districts.
“With the work-from-home setup becoming part of the new normal, these locations outside but near major CBDs may see more popularity in the next months and years,” Lamudi said.
Fringe cities
Other popular Metro Manila Cities include Las Piñas accounting for 2.46 percent of page views, Muntinlupa with 2.43 percent and San Juan with 1.35 percent.
“Fringe locations in the metro enjoyed greater real estate appetite as development spilled over to areas near financial districts,” Lamudi said.
“With new properties launched and infrastructure developments underway, these cities will likely see more demand. Property seekers must seize the opportunity now to buy before these areas achieve prime status,” it added.