TOP property listing site Lamudi Philippines said on Friday online property-hunting in the country is being dominated by women in terms of search volume.
Based on its annual research, the “Lamudi Real Estate Market Report 2017,” the firm said that 65 percent of its users are women looking for condominiums, both to buy and to rent, while only 35 percent are men. The majority of these users are between ages of 25 to 34, and account for 41 percent of the firm’s total users.
“It has always been one of our consistent observations since we started with Google because they can tell the gender of a particular internet user and when they go to our website, we know if the particular user is a male or a female based on his or her browsing history,” Lamudi Philippines Content and Research Head Rodel Ambas explained in a press conference in Makati City.
The company, however, has yet to finalize further figures.
“The Philippines is quite an anomaly in all Lamudi countries in Asia, because in other countries, such as Bangladesh, Sri Lanka, Pakistan, Indonesia, and Myanmar, men dominate property hunting,” he added.
Ambas said that the country is similar to countries in Latin America, such as Mexico, Columbia and Peru, who have women dominating the market.
“We see that a lot of them probably are looking for halfway homes, getting married or they want a more convenient location. Many of them are working in Metro Manila so they want a more convenient location for their next property purchase,” he added.
For the most searched cities, Lamudi cited Quezon City as the most searched in terms of houses and lots, followed by Makati.
“Makati, on the other hand, dominates searches for condominiums either to buy or to rent, but (the largest) total search volume is still Quezon City,” Ambas said.
Citing specific areas, the research official said Novaliches and Fairview in Quezon City are the top searched barangays.
Condos most expensive in Makati, Taguig
Lamudi analysis showed Makati and Taguig City featured some of the Philippine capital’s most expensive condominiums in 2016.
The average price of condominiums in Makati stood at approximately P160,000 per square meter, followed by Taguig and Pasay which boast average prices of P135,900 and P109,290 per sqm respectively.
“The majority of Makati’s condo listings are concentrated in the central business district (Legaspi and Salcedo Villages), Rockwell Center, and Century City,” it said.
Trump Tower is home to the most expensive condominium units. Alphaland Makati Place follows close behind, followed by Raffles Residences.
The most reasonable units could be found at Classica Tower and Condominiums, according to Lamudi.
“However, in recent years, the city’s fringe areas have also seen developments primarily due to the lack of developable land in the central business districts. These fringe areas include Malugay Street, San Antonio Village, and Chino Roces Avenue,” it added.
On the other hand, most of Taguig’s condo listings are located in the Bonifacio Global City, McKinley Hill, and Acacia Estates in Barangay Ususan while Pasay’s condos are situated in Newport City in Villamor and the Mall of Asia Complex in the Bay City.
The most expensive condo units are located in Avida Towers and the least expensive are located in Rainbow Ridge Condominium.
Metro Manila houses
For Metro Manila houses, Lamudi said its prices behaved in a similar way to condominiums.
“As expected, homes in the more popular areas such as Makati, Muntinlupa, and Taguig are more expensive, due to both scarcities of supply and location,” Lamudi said, while those in Caloocan, Navotas, and Valenzuela are much cheaper.
Makati stands as the most expensive housing market with an average price of P207 million.
“It should be noted that the city is the location of some of the country’s most exclusive enclaves, including Forbes Park, Dasmarinas Village, Urdaneta Village, San Lorenzo Village, Bel-Air Village, and Magallanes Village,” Lamudi said.
The cities of Parañaque and Quezon City, on the other hand, boast numerous subdivisions or gated communities that range from very high-end to affordable. For this reason, the online firm said these areas could be considered as mid-level markets.