Millennials have now entered their prime spending years. While some habits and trends may differ from generation to generation, property investing remains a can’t-miss opportunity, even for younger and older millennials alike.
The market in recent years has seen young people choose condos as their preferred property type. It’s not that suburban areas aren’t appealing anymore. In fact, interest in house and lots in fringe cities and provinces have only increased. But interest in urban developments in and around central locations has remained strong and consistent.
As both more millennials (and Gen Z-ers) continue to enter the urban professional landscape, this shift toward condominiums near business districts is only going to become more apparent in the near future. Of course, it’s also hard to argue against choosing accessibility, convenience, and amenities.
For starters, condos mean less travel time and hassle going to and from their workplaces. Commuting seems like too much work these days, too. These developments give them unparalleled access to Metro Manila’s leading business districts, recreational facilities, commercial establishments, and the like.
Work-from-home and hybrid setups are only going to persist as we all move forward in our pandemic lives and beyond. With this, demand for properties near prime locations is going to accelerate. We can count on prices for these developments to increase, as well.
Research also shows that millennials aren’t exactly too keen on leading “traditional” lives, or at least not yet. Most are having children or marrying a little later than what used to be the norm. Some of them don’t even want to have kids at all.
For these reasons, younger property seekers are committing to compact and more efficient living spaces. The millennial condo craze is a case in point. These are basically properties designed with single young professionals in mind, even if they do have child-friendly amenities and features to accommodate younger couples.
The burden of maintaining property weighs on millennials, too. Millennials tend to be very particular about their time, focus, and task allocation. They might see house maintenance as sort of a drag. At the very least, with condos, they only have to worry about cleaning their own units. The rest are the property manager’s responsibilities.
Condo projects also offer a wide range of amenities that millennials would otherwise have to look for or rent. Private swimming pools, gyms, lounge areas are usually included in the property package for condominiums. Yes, they’re shared spaces, but residents will still appreciate amenities made just for them. These amenities also favor millennials in the selling market.
Properties in and around CBDs
Condo developments such as Laureano Di Trevi in Makati, SYNC in Ortigas, and The Courtyard in Taguig each present property seekers with ideal homes for young professionals. Apart from being situated in pivotal business locations, these projects also offer exclusive, top-of-the-line amenities for their residents.
These, together with other projects like Glam Residences in Quezon City and Galleria Residences in Cebu, offer units with access to everything urban living has to offer for both investors and homeowners-to-be.
Nevertheless, these are only a few of Ohmyhome’s condo offerings. Feel free to see Ohmyhome’s wide selection of property listings right here for condos that are built for millennials’ future success. We can expect to see urban living appeal more and more to younger home seekers in the near future. Still, to each their own. After all, this condo trend is certainly not going to end with this generation. That’s for sure.
Need assistance with your property journey? Feel free to get in touch with an Ohmyhome property agent to get started. Find out how smart property shoppers like you can save more on your home purchase. Ohmyhome’s new Cashback program gives you your money back after your downpayment! Learn more here.
Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.
Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.
Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.
The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.
Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.