Get an agent

Buy with an Agent

Dedicated experts at your service

FOR OFWs

Buy a Property in the Philippines

Come home to the property of your dreams.

Buying for Investment

While you’re away, we take care of your property investment.

Buying for Home Ownership

We help OFWs find their forever home.

DO IT YOURSELF

Prefer to do-it-yourself?

Check out how our platform can help

Browse Resale Listings

Connect with sellers through our app

ARTICLES

Steps for First Time Buyers

Like any new experience, buying a home for the first time is daunting.

Home Buying for Your Family

Make sure you’ve thought about these things before you decide to buy a house.

Get The E-Book

Get an agent

Sell with an Agent

Dedicated experts at your service

Do-it-yourself

Prefer to do-it-yourself?

Check out how our platform can help

Post a Listing for Free

Connect with buyers through our app

ARTICLES

Factors Affecting Home Value

Know the factors that affect property value before you buy a home.

Mistakes to Avoid in Selling

Make sure you’re not committing any of these fairly small, common mistakes.

Passive Income from Real Estate?

Real estate generally appreciates in value and can also be rented out.

Sell Your Property Fast

This is how you can attract more homebuyers.

Get The E-Book

For tenants

Rent with an Agent

Dedicated experts at ayour service

Articles

Renting vs. Owning

Either way, it’s much easier outside Manila.

House or Condo?

Both have advantages and limitations. Everyone has different preferences.

For landlords

Lease with an Agent

Dedicated experts at your service

Articles

Assessing Property Value

Of course, knowing your property’s true value is key to any great investment.

Home Staging Tips

With this checklist, you get a better chance of finding a long-term tenant.

Do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Search or Post your home

Connect with landlords and tenants through the app

By Developer

SMDC

Properties from the good guys.

Robinsons Land

Raise, live, and connect.

Moldex Realty

The gateway to ideal community living.

PIK

Russia and Europe’s largest homebuilder

For Ofws

What we do for OFWs

Safely secure your dream home from overseas.

Buying for Homeownership

Connecting you with the top developers nationwide.

Buying for Investment

For a seamless and stress-free property investment.

Location guides

Life in SYNC is a Life Well Balanced

A good home gives good shelter, but a…

Quezon City Community Guide: Why Invest in Property in ‘QC

Quezon City is the Philippines’ second…

Break from the Metro: Why Buy a 
Home in Antipolo

While some seek their faith in Antipolo…

Buy a Home in Lipa for a Break from the Big City

Lipa continues to emerge as a good…

Finance & Investments

Your Starter Guide for Investing in Homes for Sale

Buying a home is a major expense but…

Why Employers Must Invest in Employees’ Homeownership

Employees sign-up and stay with the…

How to Successfully Save for Your Dream Home

With how high property prices are, ho…

Rent or Own? Either Way, It’s Easier Outside Manila

Manila has always been one of the co…

Share on facebook
Share on twitter
Share on email
Share on whatsapp
Ohmyhome

Ohmyhome

Share on facebook
Share on twitter
Share on email
Share on whatsapp

Written by: Rita Magallona

More countries are implementing lockdowns in an effort to flatten the curve of the COVID-19 pandemic. President Rodrigo Duterte has followed suit by putting the National Capital Region under Community Quarantine, then the whole island of Luzon under an Enhanced Community Quarantine (ECQ).

Originally scheduled to end on April 12, the ECQ has been extended to April 30 in light of the continuing increase in COVID-19 cases in the country. This ECQ has had a huge impact on the economy, particularly the property sector. Since people are prioritizing food and other essential needs, there has been lower demand for new homes and lower office space take-ups.

What does this imply for investors interested in buying property in the Philippines?

COVID-19 Impact on Philippine Real Estate Market: Declining Property Take-Up

In fact, property consultancy firm Colliers International Philippines projects a decline in the take-up of hotels, offices, and residential property in Metro Manila. Colliers also said that if the situation worsens after June this year, we will see one-fifth of new condominiums ending up empty.

This decline is a stark contrast to the >property boom last year that saw condominium prices increase by an average of 18.9% year-on-year nationwide. Apartments and single houses rising by an average of 10.2% in the last quarter of 2019. This boom came from the increased demand for housing for the large number of mainland Chinese working for Philippine offshore gaming operators (POGOs). These same POGOs required a lot of office space, which was projected at 300,000 square meters.

But because of COVID-19 and the subsequent ECQ, the demand for housing and office space dropped, along with tourist occupancy in hotels which has dropped to 35% from 71% at the end of 2019.

Given these effects, are you optimistic enough about the state of the real estate market in the Philippines to invest?

Can the Philippine Property Market Correct Itself?

To help you balance these projections, experts see a possible shift in the behavior of players in the real estate market. They see outsourcing and traditional companies filling the void left by halted POGO operations, possibly keeping vacancy levels at below 7%.

Colliers also encourage landlords to provide flexible lease terms and wellness certifications of their buildings, emphasizing property management that covers the health and safety. They could do all of this to attract traditional or outsourcing tenants.

But the possible winners in this market are the end-users and investors who want to buy residential property. They could negotiate better pricing in the pre-selling and secondary markets, leveraging the low demand that the current situation brought about.

2020 Property Investment: The Choice Is Yours

As an investor, you know that the market will correct itself eventually and real estate prices will go back up to more reasonable levels eventually.

So, are you willing to take your chances and invest now while the prices are low? How optimistic are you about the real estate market in the Philippines?

Working from home during the ECQ? Here are some tips to help you stay productive as you work remotely.
For even more peace of mind, here are tips for keeping your home virus-free.

Subscribe Now

Get a notification every time we upload a new blog post.

Featured Blogs

Your one-stop guide for must-know HDB tips

Buy

Sell

Rent

For Tenants

Lease

For Landlords

Articles

Buy

get an agent

Buy with an Agent

Dedicated experts at your service

FOR OFWS

Buy a Property in the Philippines

Come home to the property of your dreams.

Buying for Investment

While you’re away, we take care of your property investment.

Buying for Home Ownership

We help OFWs find their forever home.

DO IT YOURSELF​

Prefer to do-it-yourself?

Check out how our platform can help

Browse Resale Listings

Connect with sellers through our app

ARTICLES​

Steps for First Time Buyers

Like any new experience, buying a home for the first time is daunting.

Home Buying for Your Family

Make sure you’ve thought about these things before you decide to buy a house.

Get The E-Book

Sell

get an agent

Sell with an Agent

Dedicated experts at your service

do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Post a Listing for Free

Connect with buyers through our app

Articles

Factors Affecting Home Value

Know the factors that affect property value before you buy a home.

Mistakes to Avoid in Selling

Make sure you’re not committing any of these fairly small, common mistakes.

Passive Income from Real Estate?

Real estate generally appreciates in value and can also be rented out.

Sell Your Property Fast

This is how you can attract more homebuyers.

Get The E-Book

For Tenants

get an agent

Rent with an Agent

Dedicated experts at ayour service

ARTICLES

Renting vs. Owning

Either way, it’s much easier outside Manila.

House or Condo?

Both have advantages and limitations. Everyone has different preferences.

Do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Search or Post your home

Connect with landlords through the app

For Landlords

get an agent

Lease with an Agent

Dedicated experts at your service

ARTICLES​

Assessing Property Value

Of course, knowing your property’s true value is key to any great investment.

Home Staging Tips

With this checklist, you get a better chance of finding a long-term tenant.

Do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Search or Post your home

Connect with tenants through the app

Our Properties

By Developer

SMDC

Properties from the good guys.

Robinsons Land

Raise, live, and connect.

Moldex Realty

The gateway to ideal community living.

PIK

Russia and Europe's largest homebuilder

For Ofws

What we do for OFWs

Safely secure your dream home from overseas.

Buying for Homeownership

Connecting you with the top developers nationwide.

Buying for Investment

For a seamless and stress-free property investment.

LOCATION GUIDES​

Life in SYNC is a Life Well Balanced

A good home gives good shelter, but a...

Quezon City Community Guide: Why Invest in Property in ‘QC

Quezon City is the Philippines’ second...

Break from the Metro: Why Buy a 
Home in Antipolo

While some seek their faith in Antipolo...

Buy a Home in Lipa for a Break from the Big City

Lipa continues to emerge as a good...

Finance & Investments

Your Starter Guide for Investing in Homes for Sale

Buying a home is a major expense but...

Why Employers Must Invest in Employees’ Homeownership

Employees sign-up and stay with the...

How to Successfully Save for Your Dream Home

With how high property prices are, ho...

Rent or Own? Either Way, It’s Easier Outside Manila

Manila has always been one of the co...

About us

Social Media