Millennials, or adults born from 1981 to 1996, are finally taking the plunge into homeownership. Once dubbed the “generation rent,” these young adults are now interested in being financially stable through property ownership.
According to Lamudi’s The Outlook Quarterly report for the first quarter of 2021, 25 to 34-year-old property seekers were among the most active on the platform. Meanwhile, the 18 to 24 age bracket, which covers Gen Z, had the highest lead growth figures.
As the younger generations become more stable in their careers and decide to settle down, pent-up demand for properties is expected. Other driving forces for millennial homeownership likely include savings from pandemic sheltering and the appeal of having a passive income source.
For millennials planning to build wealth, here’s how innovative condo projects like 202 Peaklane serve as a safe and rewarding investment:
A Low-Risk Tangible Asset
Tangible assets are known to have fewer risks compared to stocks, bonds, or hedge funds. Properties, which are the most common tangible assets, have a physical form and a financial value. And so, you can hold them (literally and figuratively) and watch their values rise over time.
Simply put, real estate provides novice millennial investors a safe way to build their net worth. The better part is that established property developers like Anchor Land recognize what millennials need when it comes to real estate options. Its newest project, 202 Peaklane, combines a home to live in and a business to generate passive income.
The condo project offers the best of both worlds: a modern home and a well-designed rental property, allowing investors to become a homeowner and a lessor.
Your Asset as a Home
202 Peaklane is no ordinary home. It is designed to fit the dynamic lifestyles of young professionals, couples, and even starting families.
The 28-storey condominium stands amid the thriving Poblacion district of Davao City, home to retail, leisure, and other essential establishments that support modern needs. Young pros are especially fit to live here as the condo project is minutes away from public and private workplaces.
Even retirees looking to relocate to the city and near life’s essentials can find refuge at 202 Peaklane. This easily makes a unit here an ideal gift that millennials could give to their aging parents.
Homeowners-turned-lessors can manage a hassle-free business with 202 Peaklane’s rental-ready units – Artist’s Perspective
Your Home Turned Into a Business
Besides being an exceptional choice for end-users, 202 Peaklane can be a steady source of passive income. With its prime location in Davao City, millennial investors are looking at around 50,000 business process outsourcing (BPO) employees as potential renters.
The city also hosts numerous educational institutions and tourist destinations, which means more potential tenants, particularly college students and domestic and foreign travelers.
As of 2020, there are currently 88,000 students enrolled in Davao City’s colleges and universities, while the city’s target for tourist arrivals is pegged at 1.4 million this year. In such a tenant-rich area, it is then crucial that a millennial investor chooses a business-ready unit.
That’s exactly what property seekers can find at 202 Peaklane. Developer Anchor Land ensures that buyers will be rewarded with an investment that works from day one. The upscale condo in Davao City boasts of fully furnished and well-configured units upon turnover.
The project has a Lifestyle Suite with two bunk beds that sleep four and a Premium Suite with two single beds and a balcony. Both unit options are rental-ready, delivered with a fully fitted kitchen, furnished living and dining areas, and a separated toilet and bathroom.
Likewise, the amenities of 202 Peaklane bring monetary perks to millennial investors. The wide range of leisure facilities is sure to attract quality rental leads and increase tenant retention. These facilities include a fully equipped gym, a dance studio, a function room, a theater and KTV, a game room, and a well-furnished Society Lounge.
The project also offers a resort-like experience to residents and guests, thanks to its lap pool and kiddie pool area surrounded by abundant greenery, children’s wet play area, and Social Zone.
A Low-Effort, Long-Term Business
There’s no better option for a busy or novice millennial investor than a condo property equipped with cutting-edge technologies. A prime example, once again, would be 202 Peaklane, with its following features:
- Digital lockset: for securing the unit via a few taps on the phone.
- Key card access: for promoting exclusivity and granting access to common areas.
- Ductless air purification system: for ensuring the health of residents and guests.
- Fiber optic technology: for boosting internet speed and securing communication.
- Online property management system: for streamlining unit operations and admin tasks via an app.
The developer also offers an end-to-end property management service via Anchor 100, its expert leasing arm, for a completely hassle-free rental business. By enlisting a unit to Anchor 100, the lessor can be at ease knowing that the whole operation, from property listing to rent collection, will be done by a team of professionals. Further, they can assist with the moving in and moving out of tenants.
202 Peaklane indeed meets the tech-savvy generation’s demand for a modern home and aspiration for a financially stable life. Its business-ready concept and quality leasing management support empower young investors–seasoned or novice, locally based or abroad—to enjoy the perks of being a homeowner and a lessor.
With 202 Peaklane, you can start fulfilling your life’s goals. Learn more about the development here.