PROPERTY listing portal Lamudi Philippines sees a 5-percent to 15-percent increase in provincial-based listings on their site in the next six years in line with the decentralization policy of the Duterte administration and the shift in focus of property developers to areas outside of Metro Manila.
In a recent interview, Lamudi Philippines managing director Jacqueline Van den Ende told The Manila Times that they are projecting a 5-percent to 15-percent increase in listings of provincial-based properties over the next six years.
At present, around 30 percent of Lamudi’s property listings are located outside of Metro Manila, according to Van den Ende.
“We have quite an inventory outside of Metro Manila,” Van den Ende said. “I would say probably 30 percent of our inventory. Probably 20 percent of our inventory is in the Visayas region, and another 10 percent is everywhere else, Davao, Baguio, etc.”
Listings on Lamudi Philippines combined with listings on MyProperty.ph, which it acquired last year, currently amount to 180,000 properties. Of this, some 120,000 listings come from MyProperty.ph.
With the current spotlight put on Davao City being the hometown of President Duterte, Van den Ende said she expects to see a lot of developments being put up there.
“I think we’re ready to see a lot of developers to build in Davao, in CDO [Cagayan de Oro],” Van den Ende said. “What we’re going to see is a couple of big projects emerging in Davao and in the Visayas. I expect that to happen. So that will add a couple of thousand units in each city.”
Van den Ende predicts, however, that the shift in focus to areas outside of Metro Manila would not ‘radically’ affect the real estate listing business.
“In terms of real estate, I don’t see radical changes. I think we will still have a Metro Manila and Cebu-centered market,” Van den Ende said.
However, she notes that the shift toward provincial markets will also help the online listing portal expand its business.
“I think for us it’s very good, because it actually expands our market,” Van den Ende said.
As developers build more properties outside of the country’s capital, they will also be looking for ways to sell these properties. This is something Lamudi can benefit from, as it provides online marketing, according to Van den Ende.
“Brokers, developers who are interested in building and investing in other places outside of the city are also interested in ways to sell it. Online marketing is the most affordable way to market your properties. We will be focusing on reaching out to those markets,” Van den Ende added.