Over the years, the country’s real estate industry has seen robust growth in southern Metro Manila that breathes new life to suburban living as seen in the rise of prime residential communities in the area.
What is the draw of southern Metro Manila living?
A recent study by international media research firm TNS Global commissioned by Phinma Inc. reveals the reasons why homes in this area have become more popular in recent years.
Data shows that Filipino families, young and old, yearn for homes that are free from urban life stresses but still accessible to modern comforts and luxuries of city living — something that makes the southern metropolis a real estate hotspot.
Location, ambience, safety and accessibility are the main drivers in today’s home-buying decisions in the south, especially among well-to-do families. The durability of the property as well as the availability of a wider range of amenities are also prime considerations.
The buyers’ image of an ideal home is shaped by their fast-paced lifestyle, access to digital technology and trends in health and wellness, said the study. Interestingly, the study reveals that the kitchen has become “the new sala” for families that follow culinary trends.
In general, wealthier home buyers aspire for a healthier lifestyle and a respite from the hustle and bustle of the urban jungle. They look for simple yet spacious homes that are closer to nature and allow for home-office integration. A key consideration is easy access to commercial establishments like shopping malls, restaurants and supermarkets.
A deeper look into the real estate buying habits of more affluent Filipino households shows that they don’t engage in impulsive and senseless spending and instead tend to be smarter when making investments. Their motivations for property purchase also vary, influenced by age and the phase of life they are currently in.
Data shows that soon-to-be “empty nesters” or those approaching retirement age look for properties that will be comfortable in their retirement years, and which their children can later on inherit. Their ideal home is a clean-cut, simple and spacious “rest house” amid greenery for a more relaxed and laid-back ambience.
On the other hand, young and growing families prefer homes that have “curb appeal”, a more sophisticated layout and design, and offer more room for their children to run and play. They also look for properties that allow interaction with the natural environment while situated within a stone’s throw away from the commercial district and their workplace.
“These insights give us a better grasp of the market and a glimpse of their evolving wants and needs. Our future projects need to respond to the market sentiment,” said Raphael Felix, VP of Housing Division.
“We have observed a growing demand for more aspiration properties south of Metro Manila that offer ample space for a family to grow. There is also a distinct lifestyle that families who have lived in the South for generations enjoy, and this is the lifestyle our pipelined upscale residential developments in that area will offer.”
All Credit Goes There : Source link