At the height of the pandemic, location was emphasized as the top essential when buying properties in response to lockdown measures and mobility restrictions. Now, as the health crisis wanes, technology and security emerge as one of the most important priorities of property seekers aiming to create a better normal.
Comparing data recorded in January-April 2020 (pandemic onset period) to that in January-April 2022 (recovery period), Lamudi observed that preference for technology and security amenities grew, accounting for almost 20 percent of amenity searches.
These amenities include WiFi, alarm system, broadband internet provision, secure parking, 24-hour security, intercom, and CCTV.
A MOVE TOWARDS A TECHIFIED HOME
“It’s interesting to see the evolution of property seeker preferences throughout this pandemic. In a way, the change reflects how people are coping with the health crisis,” Lamudi CEO Kenneth Stern said.
He added that the heightened interest in tech and security amenities may be attributed to the stay-at-home lifestyle people have grown accustomed to over the last two years.
“We want our homes to be ‘techified’ to keep up with the demands of doing everything at home, from work and learning to leisure. Since we’re spending more time indoors, we want to have the peace of mind that we’re safe, our families and belongings are protected. These lived realities amid the pandemic gave rise to a stronger preference for tech and security amenities,” Stern explained.
Aside from tech and security, comfort and relaxation amenities commanded popularity on Lamudi, representing a third of the amenity searches. These include swimming pool, built-in wardrobe, air conditioning system, gym, balcony, ensuite, garden, and park.
Cooped up at home for long periods, people prioritize literal breathing spaces, facilities that can help them take a break from the stress and pressures brought by the pandemic, Stern said.
Interestingly, recent Lamudi data also shows that upscale condo rentals in popular central business districts flexed double-digit growth in leads. In Makati, for instance, the leads for condo rentals priced between P60K to P100K surged by almost 90 percent from the fourth quarter of 2021 to the first quarter of 2022, the largest spike out of all other price segments. In Taguig, the leads for condo rentals with a price range of P200K to P500K doubled in the same mentioned period.
According to Stern, the strong preference for tech and security amenities as well as the high demand for upscale residences both point to property seekers’ pursuit of a better normal home, one that would let them do more in their own space.
PH REAL ESTATE CONFERENCE
The new preferences of property seekers post-pandemic will be among the issues tackled at the upcoming The Outlook: Philippine Real Estate Conference by Lamudi. The event will be in partnership with KONE, a technology leader in innovative and eco-efficient solutions for elevators and escalators.
“We’re excited to have KONE as our co-presenter in this momentous industry event. In the past year that we’ve partnered with them, we know how dedicated they are as a reliable partner throughout the life cycle of buildings. They have a well-deserved reputation as a technology leader,” Stern said.
KONE came in as a co-presenter at the most opportune time as the industry is showing strong signs of recovery. And with the onset of smart, sustainable buildings, KONE is excited to share its systems that can be integrated with today’s intelligent buildings – a step change toward future-proofing buildings.
For more than 110 years since its establishment, KONE has been fully committed to tech-driven innovations offering advanced people flow solutions. For one, they provide touchless technology through the KONE Elevator Call, a cloud-based solution that allows the user to call the elevator with their smartphone – no need to touch elevator buttons. The KONE Elevator AirPurifier reduces pollutants, germs, and odors, improves air quality, and enhances the overall ride experience. Meanwhile, the KONE Handrail Sanitizer for escalators has a chemical-free UV-C cleaning solution using ultraviolet light to reduce germs from handrails.
Aside from touchless technology, KONE offers connectivity capabilities to its elevators. Their DX Class elevators are the world’s first digital elevator series with built-in connectivity. Developers and building owners can now adapt and upgrade their elevator experience according to their needs now and in the future with additional software and services. Additionally, the KONE 24/7 Connected Services provides valuable information on upcoming maintenance needs and identifies any potential issues before it even happens. KONE is taking people flow solutions to a new level of digital experience with cloud-based service and artificial intelligence-based analytics to make smarter predictive maintenance decisions.
According to Stern, the advanced solutions KONE offers to real estate players meet the demands of property seekers looking for techified buildings in the post-pandemic era.
For partnership inquiries, contact [email protected].