Lamudi, the leading online real estate platform in the Philippines, has recently uploaded another trend report, focusing on the growing demand for properties in Cavite. With its proximity to Metro Manila, it is a prime location for real estate property seekers needing to be close to the city but wanting a more laid-back, suburban lifestyle.
Here are the highlights of the Cavite Trend Report:
Property Seekers in Cavite
According to the data gathered by Lamudi, seekers from various regions in and out of the country are looking into properties all around Cavite. Specifically, in the first half of 2019, there has been an increase in interest from seekers in the 65 and older age group, though the majority of seekers still fall in the 25-34 age group, similar to data from January to June 2018.
Interest from Overseas
Cavite, which is expected to be even more popular for real estate investors in the coming years because of the infrastructure and developments set to rise in the province, garners interest from property seekers outside the country, including OFWs. Lamudi’s data shows increasing interest from Washington, Florida, Ontario, New York, England, and California. Most of the seekers outside the Philippines come from the United States, contributing almost 42% of pageviews for Cavite listings on the platform.
Rising Interest in Condo Units
There is a growing interest in condo units in Cavite, with New York showing a 304% increase and Ontario coming in second with 225%. Within Cavite, 61% of seekers looking for homes come from General Trias. The interest in condo units coming from General Trias also grew by an impressive 180%.
Foreclosed Properties for Sale in Cavite
Demand is high for foreclosed properties in Cavite, with this type of property showing remarkable growth in 2019. Foreclosures are popular in almost all price ranges, with the <450k, 450k-1M, 1.5M-3M, 3M-4.5M and >20M price ranges of foreclosed properties for sale showing considerable growth. The most popular property type, however, continues to be homes for sale, showing more than a 16% increase in the <450K price range and an almost 18% increase in the >20M price range.
Houses and Apartments for Rent in Cavite
Apartments for rent prove to be another sought-after property type according to findings from the Lamudi platform. The trend report shows the most popular price ranges and property types for the first half of 2019, with apartments for rent in the <5k, 5-15K, and >1M price ranges being the most popular. Houses for rent that cost less than 5k are also popular, as well as those within the price ranges 15-30k and >1M.
Most-searched Cities in Cavite
Trends for the demand in properties in Cavite show the top cities seekers are interested in. Imus is the most popular, followed by Bacoor, Tagaytay, General Trias, and Dasmarinas. This showed a change from last year’s top five, namely, Bacoor, General Trias, Imus, Dasmarinas, and Tagaytay.
Amenities Featured in Cavite Listings
The Cavite Trend Report also showcases the top amenities featured in property listings and the amenities that garnered the most clicks from property seekers. There is much interest in amenities such as swimming pools, air-conditioning, wi-fi, and gym, showing the lifestyle and priorities of property seekers wanting to invest in the province of Cavite.
Lamudi’s trend reports reveal the types of property that seekers demand, together with the current real estate supply for searchers with varying checklists. Check out the full report to have an in-depth look into what makes Cavite attractive to investors and property seekers alike.