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Demand picking up
Santos Knight Frank explained that the country’s commercial real estate market will see an uptick in activity as the economy re-opens, with resilient sectors such as industrial and logistics expected to continue thriving, while other segments are seen to pick up in demand this year.
In particular, the demand for residential properties, especially in the condominium rental market in Metro Manila central business districts, will pick up as a result of re-opening borders, higher vaccination rate, and return-to-office programs, according to Santos Knight Frank.
It, however, pointed out that the preference for condominiums has remained despite the emergence of some trends due to the pandemic.
Data from the company showed improvements in the performance of the residential segment in the fourth quarter of 2021 despite the new COVID-19 variant.
During the said period, it saw the introduction and re-opening of new supply as business activities continue to improve, while absorption rate stood at 80 percent.Santos Knight Frank even noted a marginal 1 percent increase in average prices to P202,000 per sqm.
But even as early as the third quarter last year, real estate prices have already started to increase.
During the said period, nationwide house prices rose 6.3 percent year-on-year according to the Bangko Sentral ng Pilipinas’ Residential Real Estate Price Index (RREPI).This uptick was attributed to “stronger consumer demand for residential property, particularly townhouses and condominium units.” Located in Cainta, Rizal, SMDC’s Charm Residences is an ideal place for young professionals who aspire to attain a work-life balance, as it is near business areas such as Ortigas Center, Eastwood City, and Katipunan Avenue, and various thoroughfares and transport hubs.
“This was also consistent with the outcome of the Q3 2021 Consumer Expectations Survey (CES), which showed a higher percentage of consumers preferring to buy real estate property in the reference quarter amid signs of economic recovery,” the BSP added.
Prices of condominium units, in particular, rose 13.6 percent in the third quarter, finally reverting into positive territory after four consecutive quarters of decline.
All these positive developments make today the most opportune time to tap the potentially lucrative prospects offered by a recovering real estate industry, and benefit from the numerous gains that can be had from a property investment.
Making the right choice, however, will entail new considerations as the pandemic has drastically changed lifestyles and prompted shifts in preferences.These, in turn, paved the way for new trends to emerge.
Given the lockdown experience during the pandemic, many are now putting a premium on convenience brought about by proximity to all essential establishments—meaning, shops are just a short walk from where they live.Many are likewise looking for homes or residential buildings that can provide access to natural lighting and ventilation as well as ample open spaces, greenery, and lush pocket parks.
SMDC’s Lush Residences, situated in Makati City, allows residents to unwind after a long and busy day at work with its generous green spaces.
People are also looking beyond CBDs and cities and into the suburbs where they believe they can be closer to nature, get a breath of fresh air, and have much bigger spaces to move about.A survey by Santos Knight Frank Research showed that many are eyeing Bulacan, Antipolo in Rizal, Tagaytay, Laguna, and coastal Batangas for their next homes.
And finally, green and sustainable measures now figure prominently in one’s considerations when it comes to finding a new residence or community.
One step ahead
SM Development Corp.(SMDC) proves to be one step ahead as always as its residential communities were able to readily cater to these changing needs and new considerations, even at the onset of the pandemic.’
Having pioneered the integrated mall lifestyle concept more than a decade ago, SMDC has long been providing residents and locators unparalleled convenience offered by a complete community.This came especially useful during the early months of the pandemic when movements were severely restricted as SMDC residents were only a short walk away from a mall or a commercial strip–a staple feature in all SMDC developments.Moreover, as SMDC puts health and safety on top of its priorities, the company developed digital applications that allowed residents and buyers to do their transactions from the comfort of their homes.
Features such as the pocket gardens and jogging paths provided ample open spaces for residents while lounge and study areas provided alternative locations for those who needed to work from home.
Other choice amenities meanwhile show how SMDC continues to put a premium on the residents’ physical, mental and emotional well-being—a primary consideration in today’s times.SMDC’s Ice Tower Residential-Office (RESO), located in SM Mall of Asia (MOA) Complex, offers the luxury and comforts of a premium condominium development while providing “spaces for success” for professionals and modern entrepreneurs.
Over the past year, SMDC even introduced new innovations in response to emerging needs—the residential-office projects, wherein you can efficiently run your business from the safety and comfort of your residence; and the mid-rise developments located in fast-rising suburban communities.
Understanding that many are now working from home, SMDC provides reliable internet connectivity in specific spaces within its communities, allowing professionals to have a smooth and uninterrupted workflow.
All these trailblazing efforts have no doubt given residents in all SMDC developments an exceptional advantage despite the challenges of the pandemic over the last two years, thus making it the ideal home choice for any discerning buyer or investor today.