ACQUIRING a house and lot is becoming a popular decision among urban residents these days, according to proptech platform Ohmyhome.
“Across the board, house and lot projects have generated a lot of interest for people living in Manila and other areas,” Ohmyhome Marketing Manager Julian Sison said in a recent webinar.
the proptech company continues to roll out new features such as a better properties page, “ShoutOut,” and “Buying from Overseas.”
Sison said one reason why many people are buying a house and lot these days is banks’ stretch financing schemes. Furthermore, the pandemic has also become a big factor as lots of Filipinos right now are working from home and want to have live in a cleaner and more spacious environment outside Metro Manila.
Based on their study, Ohmyhome found out that Filipino property seekers are looking for affordable housing for end-use in the P1 million to P5 million and P5 million to P10 million price segments. Thirty-three percent of the inquiries are for projects with compelling promos and pricing schemes.
Given the current context, Sison noted Filipinos also cite the following top considerations when purchasing a home: location (accessibility to work and proximity to essential locations such as banks, health care, and commercial establishments), budget (flexible payment methods, affordability, possibility of home loans) and quality (developer/brand reputation, good customer service, and trustworthy agents).
Additional factors are available amenities, competent property management, safety and security, and reliable connectivity, such as Wi-fi.
Of property seekers, 56 percent are looking at places outside Metro Manila, with Cavite being the most searched at 14 percent. Meanwhile, in Metro Manila, the most inquired-about areas are Makati (23 percent), Cavite (21.8 percent), and Quezon City (15.9 percent).
Cielo Dumlao, associate manager of Ohmyhome told reporters there’s still a lot of interest from the overseas market despite the challenging times stressing that overseas-based Filipinos and foreigners as well who are also interested to settle in the country want to check out the various projects in the different parts of the Philippines. “Before, overseas buyers prefer condominiums for investment purposes.”
“Our overseas buyers are currently inquiring about different house and lot projects,” Dumlao added.
Dumlao said Cebu and Davao have generated a lot of interest among foreign buyers.
Moreover, she also said a huge number of overseas Filipinos want to buy a house and a lot as an investment for their future home when they decide to come home for good.
As for property preferences, condominium units under P10 million have gotten the most interest, explaining why developers launched more condominium units in the last quarter of 2020. Ohmyhome now makes sure that it readily caters to these property preferences, and that it can provide high-quality services despite limitations set by the pandemic.
To cope with the increase in market inquiries, Sison said Ohmyhome has beefed up its Philippine team that includes a team of highly skilled business and tech professionals, all trained to develop and top-notch property services for clients.
In the Ohmyhome application and web site, customers can now find over 1,300 listings on its do-it-yourself (DIY) platform and more than 40,000 units worth of property from over 140 real-estate developments. The latter comprise select projects from Ohmyhome’s developer-partners such as Vistaland International Marketing Inc., Suntrust Properties, Avida Land, and Honeycomb Builders Inc. which came on board in 2020, and SM Development Corp., and Bria Homes which signed up this year.
A property listing spread indicates that 79.3 percent of properties in the platform are in Luzon, 9.2 percent are in Visayas, and 11.4 percent are in Mindanao.
Dumlao said the introduction of digital technology has made it easier for sellers and buyers, as well to discuss the details of a project. Through digital technology, a seller can guide a prospective buyer on a virtual tour which has become the trend in this time of the pandemic.
Sison said digital technology-enabled Ohmyhome to seal both local and overseas sales, with satisfied customers commending how Ohmyhome has indeed shown that buying and selling property can be simple, efficient and hassle-free.
As for property preferences, condominium units under P10 million have gotten the most interest, explaining why developers launched more condominium units in the last quarter of 2020. Ohmyhome now makes sure that it readily caters to these property preferences, and that it can provide high-quality services despite limitations set by the pandemic.
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