The most common question during the pandemic is about timing. When is the best time to buy? The question must be: Where? 

Despite the economy slump and the rampant lockdowns caused by the pandemic, the residential market showed persistence as the introduction of new projects and buyer reconsiderations have ignited new market activity. Developers have shifted their focus in upscale subdivisions and condominiums in provincial areas close to Metro Manila.  

Residential is the new office  

The shifting preference for acquiring new or secondary homes is brought about by the accelerating trend of the hybrid or remote work setup that companies have implemented since the onslaught of COVID-19 until further notice, or maybe forever. The hybrid work setup has been around for years, not everyone was keen to it then, and now it’s the only choice for everyone to adapt. It is proven effective, has prevailed, and has since become part of the buyer’s portfolio. 

The demand for house and lots will continue to grow. Our team has focused more to cater to this demand in the last two years of the pandemic. There is a stronger preference in the upper market for less dense areas with greener and open spaces in the suburbs in Sta. Rosa, Cavite and elevated places in Tagaytay and the Batangas coast, with people and families prioritizing health and wellness features, and realizing the safety, security, and exclusivity it brings, and wanting to create a “better normal” in the long term, some place they actually call home.  

The city is not dead 

While there is the shifting preference to the outskirts and provinces, the city remains ideal for some buyers who prefer to be at the center of everything. We anticipate a gradual rebound for condominium sales in the next year. New infrastructure is key to this, such as the new MRT-7, CALAX, Santa Monica-Lawton Bridge that promises better interconnectivity within and around Metro Manila, along with much-improved roads that accommodate traffic more efficiently.  

Another factor being the country-wide vaccination, in which the government has projected around 70-90% people in the country to have become vaccinated by the end of 2021. This should increase the confidence of the people who still prefer the convenience of living in the city as high vaccination rate promises to return some pre-COVID-19 activities. 

What’s waiting for buyers and investors? 

If you have been considering making that next move, I’d say now is the time while developers are more flexible with their payment terms. Property is still one of the most stable asset classes for investing. In fact, according to the Global Buyer Survey Philippines Edition, 39% of owners expect the value of their property to increase between 1-9% over the next 12 months, a reflection of the confidence in the stability and growth potential of property values. 

For investors, take heed and advantage of the new projects in infrastructure as this will likely affect the value of properties and your investments. After the Elections in May 2022, we expect more developments to happen and developers are keeping up to par. Decentralization is very much along the way. Developers are paving the way for more opportunities outside the cities, adapting to the demand, and using their best practices to create better communities for everyone.  

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