Since the pandemic plagued the world, many things have undergone a significant transformation. The world saw how societal sectors, including the real estate industry, underwent transformations to meet the constantly shifting needs of customers around the world. Many individuals and families had a tighter budget and became more budget-conscious buyers.
Nonetheless, the real estate market has continuously displayed a strong performance, despite the clear difficulties in the industry that affected the local and international scene. Real estate experts, including legal and financial consultants, have observed excellent results in a variety of property categories when it comes to property development.
Investing in Philippine Properties
Locally speaking, purchasing a property in the Philippines is typically a wise investment. The country keeps growing rapidly, not only with its annual population growth rate that is well above 1% annually alongside its population of educated and English-speaking professionals. In fact, its demographics are among the greatest in all of Asia. In addition, the average age of only 25 and the gradually rising urbanization rate are positive signs for the country’s economic future.
These elements have rekindled interest among real estate investors, who are now choosing to purchase properties, such as house and lots and condominium units. Additionally, affordable real estate developments in the Philippines for budget-conscious buyers are at a reasonable price, especially by Southeast Asian standards.
Your Home of Choice
Since the future of real estate appears bright, an increased number of developers are building new housing development projects in the Philippines. The growing interest helps them attract more investors and buyers. However, not all real estate investors are created equal. Lower-quality companies could have delays and structural challenges, which could jeopardize the investment. Therefore, choosing the right developer is crucial when buying real estate.
You might ask, what distinguishes a good real estate developer? It must have a sizable number of completed and profitable projects in its portfolio. Apart from that, the projects must have favorable reviews from home sellers, homeowners, and real estate experts. With Bria Homes, one of the biggest real estate developers in the country, you can tick off these features in your checklist!
Furthermore, finding out recent and emerging trends can be helpful in the decision-making process of individuals who are currently looking into residential or commercial properties.
Millennials are the new age of affordable house and lot investors. They also make up the bulk of the consumer base in most business industries. The majority of prospective buyers in the real estate market are millennials in their late twenties to early thirties. Thus, there is a sudden need to adapt to this change in the consumer market.
One of the Millenials’ strengths is being tech-savvy. This encouraged many businesses to adopt the digitalization of internal business processes and the use of the Internet for marketing. It also led to the rising success of e-commerce in the early phases of the pandemic.
In terms of the rising trends in real estate, the growing popularity of micro cities is ascribed to millennial home buyers. Microcities, to put it simply, are “cities within cities” by a real estate developer primarily to meet the needs of millennial homeowners.
Such requirements could refer to a design that satisfies or appeals to 21st-century aspirations. These can be cutting-edge amenities where young professionals can live and thrive close to their place of employment. Bria Homes can give you just that with over 50 developments spread across 40 of the most progressive towns and cities in the country.
Commercial Real Estate
Commercial real estate has a promising future ahead as face-to-face work arrangements have slowly become required by organizations after two years of remote work. While many companies have embraced the advantages of a mixed work set up, others have already made the switch back to solely onsite work. Given how many dislike the idea of commuting to work every day, this may not be good news for many employees. For property owners, though, this is a good thing.
As a result of the national government’s initiatives to combat the pandemic through widespread vaccination campaigns, there has been an increase in foreign investments in the country in 2022. Numerous employment opportunities are anticipated to be created, which will have a favorable impact on the real estate market and the overall economy. The need for additional office space will also increase, wherein more businesses are required to rent.
Real estate investments will continue to be active as more and more global corporations choose the Philippines for their outsourcing and offshoring operations. For instance, the business process outsourcing (BPO) industry is one of the pillars of the nation’s economic expansion. In line with this, the rent for apartments and other buildings is anticipated to rise in the next months or years given the existing trend.
As mentioned, the pandemic has created countless opportunities for new employment arrangements. Many avoided the daily struggle with traffic in Metro Manila and other cities with the remote work arrangement. Thinking about the new normal made most employees reluctant to return to the Metro’s congested business districts even after the pandemic is over.
The concept of the co-working arrangement is having a flexible workspace that enables different groups of remote employees, such as freelancers and independent professionals, to work more conveniently and productively in a shared environment. This is considerably different from the typical office work arrangement where employees must clock in and out in the same location each day, no matter what hassles the employee had to endure to make it feasible.
Companies are now providing additional satellite offices close to the employees’ residences as many workers are reluctant to endure the stress of the daily commute to and from work. They are also looking to hire more rooms outside of their headquarters to enable more co-working options. Meanwhile, for budget-conscious buyers, don’t forget that you can always find the perfect work-from-home environment in every Bria community.
Overseas Filipino Workers (OFW) Investment
The Philippine economy is heavily dependent on the remittances sent back to the Philippines by OFWs. The nation receives billions of pesos in foreign remittances annually, ranking among the top beneficiaries globally.
Real estate is one of the key purchases made by OFWs with these remittances. Undoubtedly, one of the things that Filipinos living abroad want to spend their hard-earned money on is a home for their family. This explains why there are numerous real estate projects that provide Filipinos with reasonable loan terms. PAG-IBIG housing loans and bank financing are always available for prospective buyers.
Specifically, a Bria Homes affordable house and lot is an ideal investment for OFWs. Being the Philippines’ fastest-growing mass home developer, Bria Homes offers you a high-quality home for budget-conscious buyers and everyday Filipinos.
Bria Homes takes pride in providing homes located in a secure neighborhood and family-friendly community. There are guarded entrances and exits, CCTVs, and perimeter fences all contribute to the protection and security of your family. It also has amenities, like basketball courts for a fit, active lifestyle and eco-friendly areas where locals may unwind and develop friendships. Lastly, your home of choice is in close proximity to schools, churches, hospitals, shopping malls, public transportation terminals, and major thoroughfares.
Written by Gianne D. Inumerable