Urban centers dominate 3Q property demand

Quezon City, Makati, and Manila topped Q3 property demand according to Lamudi’s recent property report. REBPH expects Taguig to be on the list, but Pasig and Paranaque completed the top five.

Amid the health crisis, the first half of 2020 was a period of new challenges and opportunities for the property sector, but as the country welcomed the third quarter, quarantine measures have eased up in almost all parts of the Philippines.

The government started reopening the economy and recover from the ills of the pandemic. With careful observation of health measures, different regions have resumed business activities while putting in place efforts to fight COVID-19.

In a report, Lamudi aims to provide a snapshot of the state of real estate in the third quarter of 2020.

“We take a deep dive into the performance of key locations in terms of demand and supply,” Lamudi said.

3Q real estate demand
The easing of quarantine protocols benefitted the property sector, where construction initiatives were able to resume and government offices began issuing development permits anew.

Property seekers have maintained a strong appetite for real estate in major regions as they became more at ease with the new normal.

Even in the third quarter, the most popular cities in the capital region are areas that host business districts and economic centers, a trend that has remained constant throughout the year.

In terms of the most viewed locations in Metro Manila for properties for sale, Quezon City led the list, accounting for almost half of the pageviews at 48.67 percent.

Makati and Manila followed, with 15.52 percent and 9.98 percent of the pageviews, respectively.

Pasig came next at 6.58 percent and Parañaque at 5.83 percent.

The previous Lamudi trend report also mentioned Quezon City, Makati and Pasig, with these cities being host to important business districts in the country.

Manila, which houses the largest port in the country and Parañaque, which is home to Bay City, have both taken a lead in the third quarter.

Preferred locations
This development may be attributed to more property buyers exploring locations close to employment opportunities. Interestingly, individuals looking to rent have looked at these same cities as well.

Article and Photo originally posted by Tribune last December 8, 2020 3:00am and written by Jun Yap. Minor edits have been made by REBPH to cater to its own readers.