Property Market Study in the Philippines
In the Philippines, not a huge percentage of people are into online transactions when we speak of properties for fear of scams and frauds. But we do check available properties online too. Many sellers and developers went online to market and showcase properties. One website that we can check on available properties in the country is Lamudi.
Global property website Lamudi conducted a comprehensive overview of the property sector in 16 emerging countries that included the Philippines. It was based on an online survey conducted with house-hunters and real estate agents. The research aimed to assess the habits of online property seekers.
One of the primary consideration for Filipinos in choosing a property is the price. Some people consider it as their investment while 72% wants the security of owning their own home. It would really be nice to be able to live in our own homes without worrying about rentals and other rental concerns. From the research, they found out that 60 percent of renters leased their homes due to cost constraints.
As different natural catastrophes came to the country like the Super Typhoon Haiyan, the number of families who opted to purchase properties increased to 7.2% which could be a manifestation that people want more secured and safe homes. As for agents and brokers, more than 90 percent of them think of there will be a positive response in the market for the next 12 months.
There is a great chance for growth in the real estate industry. It was cited by Jose Romarx Salas, Head of Research and Consulting at Pinnacle Real Estate Consulting Services that the key challenge of the Philippine property market is to find enough land to accommodate the development. There will be lots of development in the country too in terms of real estate and housing. Below is a graphic presentation of the most popular locations for properties in Metro Manila.
Well, whether you are in the Philippines or in the USA or wherever you are in the world, the three important things to consider in buying a home would be the same. If you look carefully in these three things, you will never go wrong and you will be able to get your dream home.
The above study of the property market could also be of help to you.
Image Credit: World Property Journal