Whether you’re starting a family, trying to upgrade to a better and bigger house, or just simply wanting to invest, finding the perfect property can be difficult and stressful, most especially during this pandemic. But why is it that investment experts are calling these uncertain times as the best time for people to buy property?
The global health crisis has certainly upended a lot of industries in recent months, but it seems real estate is still considered as a viable investment, provided you’re willing to take certain risks. Here we take a look at some of the reasons why it’s a good time to buy and how Carousell PH can help you reduce the risks:
Real estate is a resilient industry
When the Philippines experienced the effects of the 1997 Asian Financial Crisis and the 2007 Global Financial Crisis, one of the few industries that was able to bounce back stronger is real estate. Investors and consumers understand that property values are not as volatile as stocks or other financial instruments, and it will always continue to appreciate to give better returns—averaging on 5% per year—as compared to just keeping your money in the bank.
It is important to note, however, that while the property sector is not easily affected by fluctuations in the economy, appreciation of property value takes quite a while and you will need to wait it out before you can get the best value for your investment.
Once you do decide to invest in property, you can check out Carousell (formerly OLX), an online classified marketplace that connects property buyers and sellers offering 100,000 fresh listings monthly—from low-cost to high-end properties within bustling city centers and in certain rural areas. With the biggest developers and reputable real estate agents and brokers, you can trust Carousell to provide trustworthy sellers that can recommend the best property for your investment needs.
Residential preferences are changing
When the pandemic started, a shift in the way property buyers and investors were choosing investments was gradually happening, and it has to do with the way the novel coronavirus has affected our lifestyle. Consumers nowadays seem to prefer, more than anything, properties that offer comfortability and safety—bigger open spaces, better indoor air quality, and just an overall healthier surrounding.
Because of this, the industry has seen a surge in both demand and sales among residential areas that can offer these features.
In Carousell, listings for residential property located just outside of Metro Manila, such as those in Laguna, Cavite, and Batangas that start at P2.8 million, are receiving a lot of attention recently, primarily because they offer wide spaces and a healthy ambient environment while still remaining close enough to the metro for work and necessities.
Sellers compete for market share
Along with the demand for properties with better features comes the need for sellers to compete for market share—left and right, you will see sellers offering outright discounts, low reservation fees, and extended downpayment terms.
You will see listings in Carousell such as those from Avida Land that offer as much as P300,000 in cash discount and even other freebies such as a laptop and gift certificates, in an effort to entice prospective buyers to invest in their development. There are also pre-selling properties like the upcoming Prisma Residences of DMCI Homes that offer 0% interest down payment spread over 53 months. You can also go directly to Carousell’s Great Property Sale, where you can enjoy great discounts as high as P5 million.
Payment terms and promos are certainly quite favorable now, but make sure you’re also looking at the more important aspects of the property, such as location, value for money, the reputation of the seller, and the quality of the development before you jump in.
Digitalized transactions
The limitations brought about by this pandemic have forced us to shift most of our processes to digital, and the real estate sector is no exception. While touring properties are not safe for the time being, sellers have found creative ways to showcase their properties. Virtual tours are the trend these days, and finding the right property for your family or for investment has never been easier.
Carousell can give you the listings for all the apartments, houses, condominiums, and even upcoming residential developments available on the market today. Specially curated collections through the online platform will also make it easier for you to make the right choice.
To make your home search even easier, you can check out Carousell’s property blog that includes a home buyer personality quiz and home budget calculator to guide you on the best property that suits your needs.
Download Carousell for free on the App Store or Google Play
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Article and Photo originally posted by Inquirer last November 16, 2020, 7:00am.
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