Buying a home is one of the most consequential purchases one can make in a lifetime. It’s a decision that affects not just the person making the purchase, but the people around them. This is especially true for families. More than just the material that a piece of property is constructed with, a home is many things. A home is the space within the property, its location, its environment, the people one shares it with, just to name a few. To have a perfect home means having property where everything is just right. That in mind, online real estate portal Property24 wants people to find their perfect home.
Bridging Supply and Demand
Data from the Philippine Statistics Authority show that the real estate industry had grown 12.81% year-on-year in June 2017. At the same time, property construction increased by 7.1% from 2016. This shows in the number of listings on Property24. Despite being closed after purchase, ads on Property24 number around 80,000 with listings all over the country like the Robinson’s Westin where Property24 held a media event last year.
With these many properties available, to visit each one would be near impossible.
Through Property24, people can immediately search for all these properties, filtering results based on their needs. Besides that, they can communicate with property sellers for inquiries through the platform as they close in on their perfect home.
OLX Operations Director and Head of Real Estate, Ferdie Perez says, “As the industry develops, online real estate plays a crucial role in supporting the equilibrium of the market. By providing more options to buyers, and accommodating more sellers, Property24 becomes a key factor in matching the demand with the supply. We are positive that this step will allow us to greatly contribute to the growth of our local real estate industry.”
With properties springing up everywhere, it’s definitely a great time to start investing in a home. The question now is what one should look for in a home.
The Big Decision
When purchasing anything, it’s important to deliberate before going through with it. Doubly so when it comes to buying real estate. According to Property24, such decisions generally fall on mothers.
“Our research shows us that more than half of our real estate considerers and buyers are working married females. Oftentimes, they are proactive in looking for property, as this is an extension of their nurturing charisma as moms,” Perez says.
Radio personality and Property24 endorser Delamar Arias, otherwise known as “DJ Delamar,” concurs with the findings. Delamar says that in most Filipino families, while the father pays for the property, the mother does everything else. By this, she means the mother deals with the seller, scouts the home, and relays the terms to the father. As such, it makes sense for a mother’s touch to be present in a decision.
How does this factor into real estate? According to the research, the following are generally the top priorities when mothers look into properties (you may check the full infographics at the end of this article):
- Access to shops (69% of respondents)
- Access to transportation (59% of respondents)
- Availability of infrastructure for kids (58% of respondents)
- Access to public services (45% of respondents)
- Safety of area (42% of respondents)
Looking at the factors, a clear commonality arises: investing in property is about the people who will live in them. Amidst the booming real estate industry, at the end of the day properties are just structures of concrete and steel until people live and grow in them.
When selling property, one could sing an entire litany about the property developer or the “world-class” design. However, these come as secondary to the bare fact that properties are places to live. There are studies that back this up. While upscale condominiums are on the rise, the demand for low-cost condominiums and houses still remain strong.
Within these structures of concrete and steel, families will live and grow together. In these spaces, families will eat together, play together, and grow old together. The different members of a family will celebrate together during good times and console each other during hard times in these spaces.
The real estate seller finds himself in an interesting position. While they have much to gain financially from the booming real estate industry, they also gain something else. Delamar says selling property is about building a relationship, one that goes far beyond the transaction’s consummation.
Going deeper than the bottom line, real estate sellers help people find the places where they can be with their families and make memories together. That’s something that you can’t put a price on.
Click on the infographics below for the full version.