Despite Pandemic, Survey Says Property Is Still a Safe Investment
Quarantine might have us stuck at home, but it hasn’t stopped the interest of potential investors in properties around the Philippines. According to Lamudi’s survey “The Outlook on the Residential Market,” commercial and residential property listings are still getting high page views, particularly those in central business districts.
And, as expected, potential buyers are quite interested in foreclosed properties during the pandemic. With the economy down, now might be the best time to purchase property at low rates. Affordability continues to be a major factor in the decision-making of property seekers.
In Lamudi’s survey, it found that 34 percent of property seekers will purchase property within a year or so, while another 34 percent plan to make a purchase in six to 12 months.
Quarantine is giving people ample time to ponder on their purchases, and after being stuck at home for months, interest in purchasing property has risen to 68 to 74 percent, with around 56 percent pushing through with inquiries on the platform.
As work-from-home setups are now part of the new normal, Filipinos are putting more thought into investing in quality real estate. Lamudi reports that its users are now seeking properties with the best and most conveniences, like swimming pools, air-conditioning, Wi-Fi, and even balconies.
There have been worries that the pandemic has devastated the economy to the point of no return, but based on Lamudi’s latest user data, it appears this is not the case. Real estate post-lockdown might look different than its pre-lockdown counterpart, but the interest of Filipinos in quality property remains consistent, and as per Lamudi, “a safe haven during a crisis.”