11 Real Estate Statistics Investors And Homebuyers Should Know

Mandani Bay 11 PHILIPPINE REAL ESTATE STATISTICS INVESTORS AND HOMEBUYERS SHOULD KNOW 1 The future demand for residential properties will come from young professionals. In 2040, the Philippines will hit a "demographic sweet spot," when 66.8% of the population enter the working -and consequently, home- buying-age group. (Source: CNN Philippines) From 2019 to 2021, about 8,300 new condominium units were constructed yearly, totaling 142,000 units units by 2021- a 33% rise compared to 2017. (Source: Asia Property HQ) The significant growth of the residential sector and rapid urbanization are crucial to the rise of the property market. As of 2010, less than half of the population lives in urban areas. The number is estimated to reach 56.3% by 2030 and 66% by 2050. (Source: CNN Philippines) BANGKO SENTRAL The Philippines' Central Bank estimates that there will be a strong rebound of 7.8% growth in 2021. (Source: Asia Property HO) The price range per square meter of apartments within city centers of major regions in the Philippines is as follows: Metro Manila: P180,000-P200,000 Cebu: P119,000 - P138,000 Davao: P74,724.97 - P150,000 (Source: Smart Money and Numbeo) Condominium units saw the strongest year-over-year price increase of 29.1% in Q3 2019 from a year earlier. (Source: Global Property Guide) A 4% growth in condominium prices during the second half of 2021 is expected as the demand from investors and end-users gradually recover. (Source: Philippine News Agency) Demand is expected to rise over the next three years, likely supported by remittances from overseas Filipino workers (OFW) and the COVID-19 vaccine rollout. (Source: Philippine News Agency) For single/detached houses, prices increases around 2.4% during the year to Q3 2019. Townhouses prices increased by 6% over the same period. (Source: Global Property Guide) 10 Philippine residential property remains below pre-Asian Crisis values. Between 1997 and 2004, luxury condominiums prices dove 28% (52% inflation-adjusted) in the biggest property crash of all countries hit by the Asian Financial Crisis. (Source: Global Property Guide) 11 85% of experts project that homeowners will be willing to invest in outdoor living spaces in 2021. Since the majority of the population has been restricted in their homes due to the pandemic, the demand for outdoor spaces is expected to rise in the coming months. (Source: Fixr) Infographics by: Mandani Bay Sources: Nielsen.com | globalpropertyguide.com | inquirer.net | asiapropertyhq.com | cnnphilippines.com | fixr.com | pna.gov.ph | numbeo.com | moneysmart.ph