The Outlook Quarterly: A Wrap-up of the Philippine Property Market in 2Q2021

Lamudi has recently published its second quarterly e-magazine, which features key industry news, trends and developments for 2Q2021. 

2Q2021 in Numbers

Houses attracted the largest share of leads out of all other property types throughout the year, and had also sustained the highest quarter-on-quarter growth in the first half of 2021. Meanwhile, land had the highest year-on-year increase in leads.

Most Viewed Cities

In Metro Manila, the top viewed cities were mostly central business districts. The most viewed cities in Luzon (outside Metro Manila only) were regional hubs (Baguio, Angeles) and cities close to the fringes of the metro.

Cities in the highly urbanized Cebu attracted the most views in Visayas in Q2 2021.
Davao City and Cagayan de Oro continue to be the most searched cities in Mindanao, along with the vacation spots Samal Island and General Luna.

Top Overseas Property Seekers

From Q2 2020 to Q2 2021, the leading overseas sources of pageviews in Southeast Asia remained consistent, with Singapore and Kuala Lumpur taking the lead. In North America, the top seekers have fluctuated between Los Angeles and Toronto in the same period. London and Copenhagen were consistently part of the top five property seekers from Europe from Q2 2020 to Q2 2021, while Dubai, Doha and Riyadh continued to be the three largest sources of pageviews from the Middle East.

The Impact of the Mega Manila Subway Project on Real Estate

One of the most highly anticipated infrastructure projects in the pipeline is the Mega Manila Subway Project. Slated to be the country’s first underground rail, the mass transit project will operate 17 stations across 35 kilometers from Valenzuela to Paranaque. With an operating speed of 80 kph, the subway system is expected to reduce travel time from Quezon City to Taguig from 1.5 hours to only 30 minutes, aiming to ease road congestion, improve accessibility, and possibly trigger an increase in land values in adjacent properties.

With new transport infrastructure usually comes more commercial and residential opportunities in real estate. Whether it be a tie-up with a private developer for a transit-oriented development or putting up malls and dining options nearby, mass transport infrastructure spurs more business activity and supports vibrant city living in the area. To see how these markets have performed during the pandemic, Lamudi assesses the areas where the subway stations are to be constructed.

Airport Cities in 2021

The development of airports, terminals, routes and runways have always been a key strategy in promoting tourism growth in the Philippines.

In late 2018, the Department of Tourism (DOT) and Department of Transportation (DOTr) partnered to develop at least 85 airports in order to accommodate more flights and tourists. That same year, the DOT facilitated the opening of 40 new international air routes; in 2019, they surpassed their goals of recording 8.2-million foreign tourist arrivals.

Tourism Secretary Bernadette Romulo-Puyat attributed the milestone to these convergence programs with other government agencies, as well as to initiatives with local governments and the private sector in a statement published by the Inquirer early last year. With Boracay, Palawan and Siargao winning prestigious international awards and the industry contributing 12.8% to total GDP, local tourism was at its prime in 2019. Then, the pandemic hit. Leisure activities were shelved, and travel changed severely.

With the tourism industry feeling the full force of the pandemic and consequent lockdowns, Lamudi looks into airport cities in 2021. 

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