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Who are the Filipino property seekers looking for a home? Lamudi shares exclusive data into the Filipino property market in 2018.
Ask any typical Filipino family and most of them will answer they grew up in neighborhoods of houses and lots. Countless stories of childhood memories like playing tagu-taguan in the neighbor’s backyard or playing tumbang preso on the street will be brought up. It was the normal setup back then (and mostly up to now). It was what the current workforce experienced when they were young. That’s why it is quite customary for some to also aspire to have a home on land they can own and it is for various reasons. Some might want their children to experience the same (or at least almost the same) childhood. Some might pursue it because of familiarity. Some might want security. Who are these people? Where are they from? What types of homes are they looking for?
Why Choose a House?
House and lot are more expensive investment compared to buying a condo unit. But having one gives its homeowner the freedom of space and once the owner gets his/her rights of the property, no one can kick him/her out of that place. Another perk of having a house is the fact that it can be a long-term investment which one can be pass on to his/her future generation.
According to Lamudi’s data, when it comes to the budget for homes, internet users find houses priced around 3 million pesos to 4.5 million pesos as the top-most interesting property to check. The highest sessions, page views, and even leads (or users who are ready for conversion) are also from the property searches under this price category getting 16.4%, 16.7%, and 19.6% out of 100% respectively. As you can observe from this data, the lead or the possibility of a deal is higher than the actual number of clicks (sessions) and views (page views). We can assume from this that majority of the Filipino’s budget for a home is within the 3 – 4.5 million range, and more ‘decided’ potential buyers turn to online services, like Lamudi, for a possible home purchase.
This is immediately followed by houses with price ranging from 1.7 to 3 million with 13.6% sessions, 14.6% pageview, and 18.1% leads. This is another data wherein the leads are greater than the session and pageview number. These data reveal how Filipinos may already have a budget in mind and just work around this during property hunt, and they may already know who to look for once the money is in.
The least interesting price range for internet users would be properties worth less than 450k. These properties only share 1.1% of the sessions, 2.3% leads, and 1.6% page views out of the total 100.
Man or Woman: Who Searches the Most?
When it comes to gender, more than half of the total internet searchers are women who spend the session and page views two times more compared to men. When it comes to researching and background checking, women are still on top of the game with sessions at 63.5% compared to 36.5% of men, with page views at 64.7% compared to males at 35.3%, and leads at 62.5% vs men’s at 37.5%.
Which Age Group is More Curious?
The biggest chunk for the age category comes from the 25-34-year-olds. These millennials, who are also the current largest labor force, spends 36.8% in sessions, 64.7% in page views, and with leads at 36.1%. As the age increases, the interest in online property search decreases as well.
Millennials were the first generation to grow up in an age of digital devices and internet access. Let’s not also forget to take into consideration the capacity for purchase and life’s priorities as one age, in this section.
The previous generations may have been more comfortable with the traditional search as next comes the ages 35-44 with 23.5% sessions, 24.2% page views, and 23.4% leads – a little bit behind compared to the millennials.
Second to the last age group is the curious ladies and lad aged 18 to 24 years old with 8.8% sessions, 8.2% page views, and 9.7% leads. Lowest at 3.9% session, 3.4% page views, 4.2% leads out of a hundred are users aged 65 and up.
Which is the Most Searched City?
In terms of location, the area with the highest search interest would be for residential properties located at Quezon City. It has 14.2% of the total sessions, with 13.8% page views, and 16% leads. This is immediately followed by Paranaque which gets 8.9% sessions, 9.6% page views, and 9.8% leads. In the third spot comes Las Pinas with 7.3% sessions, 8% page views, and 7.8% leads.
City listings from the National Capital Region include Pasig, Manila, Marikina, Caloocan, and Makati. Other areas outside NCR which made it to the list are Antipolo, Rizal, Bacoor, Imus, Dasmarinas, and Tagaytay, Cavite, Sta. Rosa, Laguna, Angeles, Pampanga, Davao, and Baguio. Mostly areas from NCR and South Luzon made it to the top favorites list. These are also the more laidback, accessible, up-and-coming areas near Metro Manila.
We can observe from this listing how people are noticing and even considering living in these properties produced by the real estate developers up north and down south of Metro Manila.
Where Do These Searches Come From?
One thing to consider from the previous listing by location is the data of the location of these internet users themselves. As per gathered information, most Lamudi users are also found in Quezon City at 23.6% sessions, 22.8% page views, and 22.2% leads. It is followed by the residents of Makati sharing 15.9% of the sessions, and 15.5% page views, with 15.5% leads. Manila comes in third with 7% sessions, 6.8% page views, and 7.1% leads. And surprisingly, we have Cebu City with 3.7% sessions, 3.3% page views, and 3.3% leads.
From this number, we can assume that most of the residents of Quezon City are not satisfied with their current homes and is considering purchasing a house and lot but within the city too. The second city is Makati which is one of the cities with the most number of vertical living units, and in third place in Manila, a highly populated place. We can safely assume that these people now want to have a not-so-crowded vertical living experience.
With the availability of searching for available properties online, people get to save up time, effort, and energy. Through this, real estate property finder such as Lamudi earns these data as well. Learning the numbers tells us so much about the current real estate market condition in our country. This is beneficial to the real estate agents and developers who would like to know who their target markets are and their likes and dislikes, to the buyers who would like to know who their competitors are and to those who are just plain curious people who would like to know how the searching and buying of property work in the Philippines.