While a season of reflection, the end of the year is also a time of anticipation for the next. For property seekers, those looking for their next home or their next income property, the excitement lies in looking at trends and opportunities for investment.
As early as now, experts are already seeing bright spots for the real estate market in 2022. The continued vaccination program, for one, accelerates recovery, offering an optimistic outlook for a more vibrant industry next year. The relaxed lockdown measures in November complements this forecast.
One of the real estate hotspots property seekers are eyeing in 2022 is the capital city. As a thriving culture, business, and tourism hub, Manila is an ideal location for a home or property investment. If you’re interested in buying a piece of real estate in the capital city, we outlined here some of the trends we observed in the third quarter of 2021, which may give you insight for your property buys in 2022:
Strong Demand for Condos
Based on Lamudi data, nearly half of all pageviews in Manila were for condos in the third quarter of the year. Studio units were the top searched. Interestingly, the highest concentration of Lamudi seekers looking into the city in the third quarter belonged to the 25 to 34 age segment, which are largely professionals. The return to office is contributing to the strong appetite for condos in Manila, a trend that may continue in 2022.
Office workers are considering buying condos to be near the workplace. Property investors, on the other hand, may take up units to accommodate professionals who want to rent. There’s a potentially high rental yield you can maximize in Manila. According to Lamudi data, more than half of the leads and pageviews for rentals in the city were in the P5K to P30K range in the third quarter of 2021.
If you’re looking for a Manila condo as a residence or a rental property, go for developments near offices and essential establishments. Consider Suntrust Ascentia, located along New Panaderos St. in Sta. Ana. The development is close to three cities, Makati, Mandaluyong, and San Juan, providing easy access to important business and retail hubs in the capital region.
In the same way, essential services in Manila are near the residence. This includes medical institutions like Sta. Ana Hospital, Philippine General Hospital, and Manila Doctors Hospital. St. Francis School, St. Mary’s Academy of Sta. Ana, and OB Montessori are also a few minutes’ drive away from Suntrust Ascentia. For your shopping needs, Robinsons Manila and SM Manila are easily within reach.
Growing Interest on Mid-Cost Projects
Aside from top searched property types, Lamudi data recorded in the third quarter of the year showed price trends in Manila. Mid-cost properties for sale, priced from P3M to P6M, represented a significant chunk of all pageviews and leads for listings in the city. In 2022, the discounts on properties, as well as the two-percent interest rate placed by the Bangko Sentral ng Pilipinas, will likely further empower the market to buy mid-cost properties.
Whether you’re buying a condo as a residence or a passive income source, maximize the attractive deals available in the Manila market. Take advantage of the pre-selling condominiums in Suntrust Ascentia, so you can enjoy the lighter payment terms.
Inspired by the Filipino traditional motifs of the ‘70s, the modern contemporary condominium features a range of smartly designed units suited to different kinds of property buyers. The studio, which has a typical floor area of 29.8 square meters, starts at P5M. The two-bedroom with 39.2 sqm starts at P6.5M, while the three-bedroom with 57.2 sqm starts at P9.5M. With different options in Suntrust Ascentia, you can get a unit that matches your lifestyle needs and rental property goals.
Booming Popularity of Amenities Promoting Work-Life Balance
The most searched amenities by Manila-based property seekers, based on Lamudi data, were notably crucial in the work-from-home arrangement. Productivity amenities, such as WiFi, broadband, and airconditioning were among the top 10. Leisure amenities, which help professionals de-stress and unplug from work, were also in demand. This includes the swimming pool and balcony. Similarly, features that increase security at home were popular among Manila-based property seekers, namely the garage and alarm system.
These trends reflect new normal essentials. They are must-haves for comfortable and convenient living, and non-negotiables for a profitable rental investment. Thus, whether you’re buying a home or an income property, prioritize these amenities. In Suntrust Ascentia, you can find these facilities. Beyond the swimming pools, parking spaces, and balconies, the modern contemporary condominium has fitness facilities that further promote work-life balance, namely the gym and the jogging path.
Relaxation and entertainment areas are part of the design of the community as well. The amenities include the jacuzzi, landscaped garden on the 7th floor, outdoor lounge, multi-purpose area, children’s playground, and function hall. There will also be a daycare within Suntrust Ascentia, which will be a useful amenity for parents working at home.
The opportunities in Manila’s real estate market in 2022 look promising. Be on the lookout for more emerging trends as you consider your next property purchase. To know more about Suntrust Ascentia, visit this page.
Main Photo via DepositPhotos