The Philippine Real Estate Market in 2Q2022

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The Philippine Real Estate Market in 2Q2022
While the market for properties for sale remained
stable over the last few quarters, the market
for rentals has been growing rapidly. As several
companies return to some form of onsite work and
schools test re-opening, demand for rentals has
been steadily growing since 4Q 2021. Lamudi
looks into property search and demographic
activity in the second quarter to identify new
rental trends and anticipate where the market is
headed. Affordable Real Estate Market
Lamudi provides demand trends for rentals priced
below PHP15K and properties for sale priced
below PHP6M.
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Affordable residential real estate continued to
contribute to a sizeable share of leads on Lamudi
in 2Q 2022, with listings in lower price
segments attracting more than a third of total
leads for both buy and rent markets. Over half
of all leads for residential properties for sale
on Lamudi were for listings priced PHP6M and
below. For residential rentals, two in every
five leads on Lamudi were for properties priced
PHP15K and below.
Demand for condos has continued to increase as
more employees return to hybrid and onsite work.
With blended learning set-ups being implemented
nationwide, demand for studio-unit rentals and
other student-priced accommodations is expected
to pick up in preparation for the new school
year.
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Overseas Property Seeker Profile

• Last June, the Philippine Statistics Authority
  published that OFW remittances in April totaled
  USD2.39 billion in April, 3.9 higher than a year
  prior. Coupled with the passage of amendments to
  the Foreign Investment Act, Foreign Investment
  Negatives List, Public Service Act, and Retail
  Trade Liberalization Act, the country is poised
  to receive more interest from overseas investors
  paving the way for positive developments in
  industries, including the real estate market.
• Key Insights from The Outlook Quarterly 2Q2022
• Condos and apartments posted strong performance
  in 2Q 2022.
• Condos attracted the largest increase in leads in
  2Q 2022.
• Condos for rent attracted the largest
  quarter-on-quarter increase in overall leads on
  Lamudi.
• Leads for vertical developments for rent were
  most concentrated in metropolitan locations,
  while leads for houses were spread across
  provincial areas.
• Properties priced 5K to 30K attracted the highest
  increase in leads.
• Condos followed by commercial properties
  contributed the most rental supply on Lamudi
  overall.
• Plenty of commercial options are available within
  and outside Metro Manila.
• Makati Metro Manilas financial district
  attracted the most leads from prospective
  renters, while cities in Cebu continued to
  attract the most leads in Visayas.

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• Quezon City and Manila were among the top sources
  of leads for rentals throughout the country.
• Comfort amenities (such as air-conditioning and
  balconies) as well as fitness amenities
  (swimming pool and gym) were the most popular
  amenities on Lamudi in 2Q 2022.
• Leads for horizontal development were most
  heavily concentrated in cities across Metro
  Manila and Luzon.
• Singapore was the leading overseas source of
  inquiries for condos and houses for sale.
• Cities in the Middle East contributed the most
  overseas leads to properties in CALABARZON.
• Property seekers in the Middle East showed strong
  interest in horizontal properties.
• East Asian property seekers were most drawn to
  highly urbanized cities in metropolitan areas.
• Philippine leisure and retirement destinations
  may be attracting inquiries from seekers in
  North and South America.
• Lamudi.com.ph is the leading real estate platform
  in the Philippines. The platform empowers
  consumers by providing over 160,000 listings to
  choose from, and by supplying the most relevant
  and up-to-date information in the real estate
  market through the Lamudi Journal, Trend
  Reports, The Outlook Philippine Real Estate
  Conference, and The Outlook Roundtable Series.
• For questions, contact kristine.quilon_at_lamudi.com.
  ph.