Monday, May 17, 2021
 

Where to invest in 2021

Rental market in leisure destinations is booming

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WITH people spending most of their time at home throughout 2020 amid the Covid-19 (coronavirus disease 2019) pandemic, more property seekers sought homes outside Metro Manila to be closer with nature, according to leading real estate platform Lamudi Philippines.

The graph shows a breakdown of pageviews for leisure destinations.

Properties by the beach became increasingly popular last year, with Batangas province earning the highest growth in leads among leisure destinations at 143 percent in the second half of 2020 compared to the same period the year before.

The province also contributed the largest share of pageviews among the leisure destinations assessed in the second half of the year, owning 38 percent of all pageviews for that period.

 


Lapu-lapu City in Cebu, home to numerous resort-style residential developments, amassed 30 percent more leads and 12 percent more pageviews in the second half of 2020. Antipolo City also posted positive demand figures in the same period, with leads increasing by 88 percent and pageviews up by 86 percent.

Tagaytay City also experienced an increase in pageviews in the same period, having increased by 27 percent from 2019. The city is well on its way to leading demand in 2021, contributing the highest share of leads among the assessed leisure destinations in January 2021 at 37 percent.

It can be surmised that the proximity of Antipolo to Metro Manila makes it an ideal destination for homeowners who wish to be close to nature without compromising a short commute to the office. Tagaytay, meanwhile, remains an ideal vacation home or rental property for short out-of-town trips. Both places are famous for having clean air and cooler climate, which make them alternate summer destinations.

Despite the pandemic, the vacation rental property market appears to have recovered in the second half of 2020. Rental properties for listings in Antipolo, Lapu-lapu and Tagaytay attracted more inquiries from property seekers in the second half of 2020, with leads for price listings between P30,000 and P60,000 increasing by 550 percent and those between P60,000-P100,000 growing by 398 percent. So far, rental properties within the P5,000 to P15,000 range attracted the most leads in January 2021.

According to Lamudi, the buy market also increased significantly, with properties for sale in Antipolo, Lapu-lapu and Tagaytay all attracting significant increases in leads between the second half of 2019 and 2020. Mid-cost listings or those within the P3 million to P4.5 million range attracted the most leads in January 2021.

Leads for economic housing for sale in Batangas experienced the largest uptick among price ranges in the area at 747 percent, while leads for budget rental properties priced between P5,000 to P30,000 experienced the most growth from the second half of 2020.

The preference for affordable properties is sustained in 2021 so far, as rent leads for the month of January were most prevalent in the P5,000 to P15,000 range while properties priced P450,000 to P1.5 million contributed the most leads for purchase listings.




 

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