Property buyers’ priorities have evolved significantly due to the pandemic. We’ve put together a list of trends we’ve noticed in the property industry, so you’ll never fall behind.

Location has always been an important consideration in property hunting. However, the pandemic has brought about new significant considerations in property locations. On a micro level, one consideration would be convenience – proximity to public transportation, supermarkets, medical facilities or even gyms. In the Philippines, Metro Manila has seen increasing interest as international companies move into the region, placing more demand for offices and homes in the Metro Manila region.

Work from home looks set to become a normality, or at least a hybrid situation. As companies realise the associated benefits, employees also get to enjoy the elimination of time-consuming commute, which lends a lot to work-life balance. Of course that includes us at Carousell as well! An average Filipino employee spends a minimum of 45 hours a week at work, thus telecommuting would mean more emphasis on keeping their home conducive for productivity.

As a result, longer hours will be spent at home, and more homeowners will plan to maximise the use of space in their homes to enhance conducive conditions. As people spend more time in their homes due to the pandemic, some may prefer to avoid communal facilities as well. Homeowners may start investing in personal amenities such as fitness or entertainment rooms. Property developers can look towards furnishing homes with home-based working and personal amenities in mind, or develop homes that cater to self-sufficiency and convenience.

With increasing foreign remittance, many families now have sufficient purchasing power to buy and invest in the local residential property market. With that being said, much of what has emerged from this pandemic has been the increase in adoption of technology in the e-commerce sector. E-commerce adoption amongst Filipinos has seen much growth, reaching 80.2% of internet users from 70% in 2019. It goes without saying that with an ongoing pandemic, property buyers and investors would thus prefer to utilise online platforms where possible. In the ‘Property’ category on Carousell, we’ve seen a 94% increase year-on-year in browsing activity and enquiries under lots for sale as well as a 36% increase in houses for sale under the same metric from last year, for the month of January.