The excruciating experiences caused by several months of lockdown resulted in the emergence of a new market segment which was a shot in the arm in the property industry.
The second home market, focused on gated resort communities in Batangas province, has been showing a great demand since 2020.
Real-estate services firm Leechiu Property Consultants (LPC)observed that high network families who were confined in their homes for more than 10 years were responsible for such growth.
Real estate services firm LPC pointed out that affluent buyers are on a purchasing frenzy in Tali Beach, Kawayan Cove, Peninsula de Punta Fuego and surrounding areas aiming to live in healthier environments to avoid the pressures living in the concrete jungle.
“At least 40 properties have changed hands in the past few months in Punta Fuego alone. I haven’t seen this volume of transactions in 20 years,” LPC CEO David Leechiu explained.
Moreover, the introduction of high speed internet connectivity and the completion of several expressways have motivated this elite group to move outside Metro Manila.
Therefore, Leechiu pointed out there was a rise in property values in these areas by 20 percent to 46 percent from 2020 to the 2021 dominated cash-led transactions.
“And bids for properties in these markets do not look like they will slow down any time soon. In some areas, there are many offers but no homes to buy,” Leechiu said.
Global real-estate management firm Jones Lang LaSalle (JLL) Philippines pointed out in its recent findings that affluent home buyers now prefer functional property features, such as allocations for a home office and study area—and health- and wellness-related amenities.
With its low-density residential condominiums offering one-to two bedroom units, the 5-story Horizon Terraces Garden Suites’ has been thoughtfully designed out to accommodate resident families’ varying needs, be it for work- and study-from-home setups or for lavish rest and relaxation opportunities.
It has living spaces featuring large windows and sliding doors providing natural light and ventilation in. “This means constantly indulging in the morning sun and the fresh mountain breeze, with the midrise’s higher floors offering stunning vistas of Taal Lake and Volcano, Mount Makiling, and distant mountain ranges. Those who prefer the garden units have immediate access to verdant greenery and the chance to commune with nature,” the company said.
Wealthy Filipinos will find Horizon Terraces a very good choice as alternative primary homes. Seventy percent of the community’s land area is dedicated to recreational and open garden space. Its Central Garden will encourage owners to take leisurely walks at its Garden Courtyard and have fun checking the time with the SunDial.
As a matter of fact, the expansive Central Garden is only a few steps from Horizon Terraces Garden Suites. In fact, the World Health Organization’s recommendation that every resident should have 0.5 to 1 hectare of green space of no more than 300 meters from their homes. This bolsters the notion that open green spaces enhance the physical and mental health of community members, who also benefit from reduced air and noise pollution.
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The article was originally published in Business Mirror and written by Rizal Raoul Reyes.