Perspectives

More Filipinos Rely on Real Estate Portals as Condo Deals Rise

Condo BuildingTransactions for condo units in Quezon City have increased in the second quarter of 2018, and deals are more likely to close sooner for strategically located properties.

The influx of gaming companies from China primarily influenced this growth in activity, so local individuals and investors should think about snapping up units before prices become too expensive. Others, however, have realized this and turned to real estate portals to find the best properties.

Gaming Industry

Colliers International Philippines said that Philippine Offshore Gaming Operators (POGOs) have been responsible for most of the residential transactions in Quezon City during the second quarter.

As a result, prices for similar properties near the city’s borders have increased as well. If you live near the Katipunan area, many property developers still market their developments to families and young professionals.

While Chinese employees of POGOs have become a key market for them, these companies still recognize the importance of having a solid client base among locals. This is particularly true after more consumers use online channels to find their desired property.

Real Estate Hunting

Millennials are leading the trend of Filipinos who use real estate portals for buying residential properties recently. For instance, over 60% of property searches in June originated from people between 25 and 36 years old, according to Dot Property.

The real estate services portal recorded 1 million visits between May and June, and more than 27% of the traffic came from users in Quezon City. In response, developers and agents have expanded their online presence, knowing that many are willing to contact them directly if they find an attractive property for sale.

When choosing the best condominium unit in Quezon City, consider a mixed-use development with as many facilities as possible. It could be a residential building near your place of work or property with proximity to shopping centers and schools.