PH Rental Demand Soars Propped Up By New Normal of Work

Local rental demand has seen a stable increase in the second quarter of 2021 from the same period last year, according to Lamudi. Keeping up with the aggressive appetite of the market, the company offers brokers the chance to post unlimited rental listings until October 31, 2021.

Activity is heating up in rental housing markets across the Philippines, Lamudi observed in its latest data.

The increased demand, driven by the new normal of work, offers a promising opportunity for landlords and investors. Supporting this vibrant demand from the market, Lamudi is offering brokers who subscribe from August 2 to October 31, 2021, the chance to upload unlimited rental listings until the end of the promo period. For as low as P799 a month, real estate professionals and property owners can unlock the exclusive, limited-time offer.

Aggressive Rental Market

At the height of the pandemic last year, several companies in key sectors turned to large residential spaces near their offices and industrial plants to house employees.

According to Lamudi’s data, the share of leads for rental properties priced at P200K to P500K in Luzon (outside Metro Manila) and Visayas saw a significant increase in the second quarter of 2021 from the second quarter of 2020, with Luzon showing a double-digit hike.

Meanwhile, the affordable condo for rent market priced P5K to P15K sustained a lead share above 15 percent since the first quarter of 2021. With the return to office gradually picking up, more workers are expected to gravitate towards condo rentals near their workplace to avoid the hassle and health risks associated with long commutes or limited transportation options due to community restrictions.

Mobile, Agile Lifestyle

The pandemic exposed the enduring demand to be close to transportation networks. In the rental market, more are searching for properties near the proposed Metro Manila Subway, according to Lamudi. Districts near mass transit such as Ortigas Avenue, West Rembo, and Western Bicutan are likewise popular among renters.

Ortigas Avenue offers easy access to MRT-3, as well as the soon-to-be-constructed MRT-4, eyed to connect Metro Manila and Rizal. West Rembo is near the newly-opened BGC-Ortigas Bridge and the Guadalupe and San Joaquin ferry stations. Meanwhile, Western Bicutan hosts the FTI station, the terminal at the South Main Line of the Philippine National Railways (PNR).

With the rental market flexing strong demand, Lamudi projects bright spots for property investors and opportunities for brokers to maximize the strong rental market through digitizing their business.

To avail of the offer, sign up at https://bit.ly/UnliRentalListingNL.

Author: Peps Pepz

A working mom... A mom who loves to travel .... Affectionate, practical woman, independent, determined Mom and protective as she can be...

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s