Quezon City tops the list of most-searched areas in the country for both for-sale and for-rent properties, according to property listing website Lamudi Philippines.
In a report, Lamudi said Quezon City comprised 27 percent of the total searches made for for-sale properties, and 28 percent of searches for rental properties, in the third quarter of 2015.
Following Quezon City in the top searched areas for for-sale properties are: Makati, which accounted for seven percent of the total searches; Parañaque, Tagaytay and Las Piñas, which each comprised five percent of the total search results.
Meanwhile, Makati came close to Quezon City for the top searched city for rental properties, as it got 20 percent of the total searches made for for-rent properties.
Mandaluyong followed with eight percent; Davao, seven percent; and Pasig, six percent of the total searches.
A global online portal, Lamudi focuses on emerging markets, covering 32 countries across Asia, Africa, Middle East, and Latin America.
Lamudi Philippines lists around 7,000 properties to buy or rent in Quezon City, which has a thriving residential and commercial property market, according to Overseas Property Professional (OPP), a global business information and media group that provides data for businesses in the international property sector.
Lamudi Philippines Managing Director Jacqueline van den Ende said the findings are not surprising, as far as Makati, Mandaluyong, and Pasig are concerned, since these cities have high concentrations of condos available.
She noted that these cities are homes to Metro Manila’s major central business districts, which make them popular among employees looking for places to rent, where they will be close to their workplaces.
Meanwhile, Parañaque and Las Piñas have many subdivisions or gated communities, and are quite popular as residential suburbs, especially among starting families.
Tagaytay, in contrast, is a touristy area teeming with vacation homes, making it popular among affluent buyers.
Based on the same data, Lamudi observed that among 18-24-year-old Filipinos, there is almost an equal proportion of property hunters looking for for-rent and for-sale properties.
A little over 50 percent of the searches looked at for-rent properties, while 49.8 percent looked for for-sale properties.
For the 25-34 age segment, 57.3 percent searched for for-sale properties on the website, while 42.7 percent looked for for-rent properties.
The online property portal noted that searches made for for-sale properties were even higher in the older age groups.
For-sale searches accounted for 70.8 percent of the searches made by Filipinos aged 35-44 years old, 72.6 percent for 45-54 year olds, and 71.1 percent for 55- 64 year olds.
Van den Ende said the findings were consistent with observations made in Europe and the United States, where people have the tendency to buy properties instead of renting as they get older.
“This seems to be the case among Filipinos,” van den Ende said. “Younger people—those aged 18–24—probably prefer mobility and flexibility, which explains a higher search volume for for-rent properties in the Lamudi website. However, this does not mean that they are not planning to buy eventually. Almost half of searches in this age group are dedicated to for-sale properties, then this tendency significantly increases in the 25–34 and 35–44 age groups: stage when young people start to have stable jobs, consider getting married, and start families.”