Last Updated on December 7, 2022 by Lamudi
The third quarter of 2022 was marked by an uptick in consumer activities as face-to-face classes reopened, mask-wearing guidelines loosened, and leisure activities resumed. However, a continuous rise in interest rates and building costs may breed caution among investors considering potential delays in project developments and impacts on mortgage rates.
Lamudi looks into property search and demographic activity in the third quarter of 2022 to identify new trends in the online buying, selling and renting market.
Key Insights from The Outlook Quarterly 3Q2022
- Leads for lots in Visayas and Mindanao increased by 22% and 10%, respectively.
- The economic segment had the highest growth in demand out of all other price segments in 3Q2022. Properties priced below Php 450K sustained the most significant increase in demand out of all other price segments for properties for sale.
- Rental properties priced Php 200K – 500K continue to attract leads.
- Rental supply continued to increase across most price segments.
- Property seekers showed strong demand for regional administrative centers, with Quezon City, Baguio, Cebu City, and Davao City being the most searched locations in each of their respective island groups.
- Ventilation and cooling amenities such as air conditioning and balcony were among the top ten most selected amenities on Lamudi in 3Q2022.
- In 3Q2022, two out of every five leads were for Lamudi listings priced below Php 3M.
- Commercial properties contribute the most rental supply out of all other properties for lease in CALABARZON.
- In CALABARZON, leads for properties are spread across each province, but Antipolo attracted the largest share of leads in 3Q2022
- Industrial hubs Sta. Rosa and Calamba attracted majority of leads in Laguna.
- Lipa attracted nearly a third of all leads for properties in Batangas. Majority of leads came from CALABA and Metro Manila.
- Demand for properties in Rizal were most concentrated in Antipolo and Cainta in 3Q2022.
- In 3Q2022, roughly two-thirds of all leads for properties in CALABARZON were for listings priced below Php 6M.
- Listings priced between Php 450K and Php 4.5M attracted the highest shares of leads in CALABARZON. Listings within this price segment were primarily composed of houses and land for sale.
- The most searched sub-categories for house and land properties within this segment were residential lots, house & lots, townhouses, and agricultural lots.
Know more about the latest real estate trends and how you can harness them for your business.