Forecasts for the real estate industry in 2021 show that property as an investment remains a stable and safe option, with upcoming developments in the country’s business environment and national infrastructure projects set for completion.
Industry experts assert that the property sector has “continuously displayed resilience over the last decade, posting record high-levels in take-up, supply, prices, and land values.”
Likewise, data from research show that despite the pandemic, property investments yield steady and lucrative returns, preserve wealth, and generate capital appreciation, showing how real estate is one of the best long-term investments for individuals and families.
All these points out the fact that the real estate industry remains one of the safest spheres for investors who seek passive income.
A positive outlook for Philippine real estate in 2021
In their latest report, global real estate services firm Cushman and Wakefield disclose that in spite of an expected slow economic recovery caused by the pandemic, business developments combined with the resumption of national infrastructure projects this year will encourage plenty of real estate activities from buyers and sellers.
Likewise, leading real estate organization Colliers International predicts that the progression of big-ticket projects in 2021 will boost Real Estate Investment Trust (REIT). For instance, projects such as the LRT-2 East Extension, Cavite-Laguna Expressway (CALAX), Skyway SLEX Extension, MRT Line 7, BGC-Ortigas Link Bridge, and the NLEX-SLEX connector road are set to finish between 2021 and 2022. Once completed, these projects will benefit several provinces and key cities in Metro Manila, thus, increasing the need for good residential units in various areas.
The lockdown in 2020 has also shown that the majority of businesses can work remotely, lowering employee maintenance costs including office rent. This has definitely ushered a big change for the ‘second home’ market, which includes gated resort communities in the provinces. Data from Leechiu Property Consultants (LPC) reveal that many individuals and families have deemed it wise to invest in a ‘second home’ away from the metro, as suburban property allows more flexibility during crises like the pandemic.
For those interested in condominium investments, a study by LPC also showed that properties near mixed-use projects enjoy better premiums and appreciation than those located farther. For instance, homeowners prefer condominiums close to mixed-use developments that blend commercial, residential, and cultural uses into one space, as these are convenient especially for Filipinos who are always on-the-go.
(Property) investing for a better future
With such positive real estate findings and predictions, leading property solutions platform Ohmyhome is excited about encouraging Filipinos to invest in properties this 2021.
Launched in the country in September 2020, Ohmyhome aims to make the housing experience practical, quick, and enjoyable for prospective Filipino property investors. With a DIY platform and agent services accessible through its user-friendly application and website, Ohmyhome has received exceptionally good feedback from its initial users.
Asked how the company sees its place in the Philippine real estate industry this year, Ohmyhome co-founders Race and Rhonda Wong are confident that Ohmyhome will continue to provide simple and efficient housing services for its Filipino users.
“Many Filipino customers are still accustomed to speaking with agents on social media, possibly referred to them by someone they know,” Race and Rhonda say. “Thus, we want to exert more efforts in introducing the property audience to the convenience of our application and website. We want Filipino home-buyers to see how Ohmyhome technology can make their 2021 property investments a seamless and easy process.”
According to Race and Rhonda, it is high time that Filipinos make their dreams of purchasing their own properties come to life, and Ohmyhome resolves to help them fulfill their aspirations. “Every Filipino deserves the chance to own a home that their family can enjoy and eventually pass on to the next generation, serving as an investment that helps them build their wealth.”
However, Race and Rhonda are aware that there is a dearth of information regarding available properties and financing options, while some real estate professionals fall short in providing what customers need. “These obstacles to eventual property investment and homeownership are what Ohmyhome aims to address,” they affirm.