AFFORDABLE housing is expected to push up residential sales during this pandemic-battered business environment as Filipinos look for stable, decent-quality and easy-on-the pocket properties.
“Our six operational sites in different cities received 10 to 20 percent new inquiries from people who want to transfer to another house where they can have a home-office,” said Anthony Gerard Leuterio, founder of Filipino Homes.
Since the lockdowns were imposed in the country last year due to the Covid-19 pandemic and jobs moved to homes, people have looked for houses that were enhanced community quarantine (ECQ)-friendly.
“A lot of homeowners discovered that the house they once comfortably lived in can no longer serve their needs today. Now that they have to spend more time in their homes, they are looking for other options like a house that is more ECQ-friendly with a smart home-office and a backyard garden,” Leuterio said.
He added that the high demand for affordable housing is also buoyed by the fact that Filipinos now realize the importance of having a stable, decent-quality and safe space to keep them from contracting viruses and other chronic illnesses.
Earlier, Leuterio said they are now preparing new home designs to meet the new demand under the “new normal” living concept to be executed by Filipino Homes Plus.
“We are coming up with designs that are now acceptable as a new normal in living,” said Leuterio, adding that they will take into consideration the work-from-home concept in the crafting of the new home designs.
Filipino Homes Plus is the construction management firm under Filipino Homes that specializes in custom-made houses.
Leuterio said quarantine-friendly inspired homes will initially have a built-in small gym and a small office space, among others.
He believes that even after this viral pandemic, new ways of doing business will arise, even the vast adoption of the work-from-home arrangement.
Moreover, Leuterio also sees a rise in residential developments in the countryside as workers who previously worked in cities have returned to their hometowns as a result of the work-from-home arrangement.
He said this has prompted developers to grow their landbank, particularly in areas where they are not present.
Recently, homegrown developer Priland Development Corp. announced a joint venture house and lot project in Davao City under its economic housing brand “Pili Homes.”
Another real estate firm, Cebu Landmasters Inc., is also going all out in its expansion in the Visayas and Mindanao. It announced that it will bring its economic housing brand Casa Mira to four key cities in the Visayas and Mindanao this year: Dumaguete, Ormoc, Puerto Princesa and Davao City.
Moreover, courting buyers these days will be tech-driven, according to Leuterio.
He said while developers will keep on looking for potential areas to build their projects, real estate market sellers will reach out to buyers here and abroad through virtual tours and online property roadshows.
“Technology innovation and sustainability will be key drivers for value in real estate. We need to embrace digitization as we have really seen a big change in the real estate sector from various parties like developers and the market side. We need to understand how Covid-19 changed the buying habits of our target market,” Leuterio said. (KOC)