The pandemic has inevitably influenced the decisions of high-income earners in the
Philippines with regards to their homes for the next 12 months.
Santos Knight Frank Global Buyer Survey – The Philippine Edition, which explores local themes from the global edition of over 900 international and mostly high-income respondents, shows pent-up demand for new and second homes and a preference for low-density environments and wellness-related features such as air quality and green spaces.
Qualities that were once nice to have now command preferential interest among buyers.
The results also suggest a shift of preferences among high-income respondents. There is a growing interest for the suburbs, although the city is still ideal for some buyers.
Interestingly, health and wellness location features have increased in importance, while convenience-related location factors are seen as less important.
These preferences may be caused by a myriad of reasons, such as the increasing adoption of remote and hybrid work setups and the fear of crowded places.
It remains a question whether this shift will continue in the medium to long term.
Overall, these findings suggest that the demand for homes remain but it also continues to evolve in light of the pandemic.
Source: Santos Knight Frank