Market trends are greatly determined by the laws of supply and demand; and in its 8th year of BOOM, the Philippine Real Estate continues to attract buyers inside and outside of the country.
If demand is high, why is it hard to close a sale?
The rise of their demand sparks price competition in the marketplace, and strategic marketing in lead generation is important in order to close sales. With so many sellers and buyers, it can become difficult to cater to specific demographics, in terms of the real estate properties they’re looking for.
In order to solve this, a marketer should analyze the Philippine Real Estate Trends. The Philippine News Agency, official news wire service by the government, published a report on current buying trends in real estate. This year, there are 6 trends that emerged based on the buying behavior among real estate investors.
Read them below:
#1 – Flexible Office Spaces
With the acceptance of non-traditional working styles, more and more companies, startups and big corporations alike, have been searching for office spaces that will fit their needs. It can be co-working spaces for short-term projects or studio units for open office layouts. Due to the drive of Philippine Offshore Gaming Operators (POGOs), Offshore and Outsourcing (O&O) companies, commercial real estate in the Philippines thrive. Other industries that fall under this category are Business Process Outsourcing (BPOs), Finance Technology (Fintech) and Information Technology Business Process Management (IT-BPMs).
#2 – Expansion Units
Third place in the driving force of commercial real estate in the Philippines, after POGOs and O&Os, are pharmaceutical companies. The competition for the most trustworthy medicine that is affordable in a third-world economy is one of the main reasons that these pharma-companies expand nationwide, establishing branches from cities to the depths of the provinces. Other than the purpose of selling their product, they make medicine accessible everywhere. Similarly, they prefer to rent units in commercial buildings or compounds to market their businesses.
#3 – Storage Warehouses
The rise of technology paved the way for e-commerce to break through the mainstream marketplace. With so many companies opening their online stores and individual sellers with online retail, they require warehouses to keep their supply of products. Furthermore, the logistics industry has become more relevant to service e-commerce platforms. Storage warehouses are popular to organize their parcels as well as to park their modes of transport for deliveries such as motorbikes, vans, and trucks.
#4 – Vacation/Retirement Homes
The Philippines is a great choice to invest in for vacations and retirements, not only are they cheaper compared to other countries, but there are plenty of locations to choose from. There’s the option to live in the city center or live in the developing provinces without being deprived of an urban lifestyle. OFWs who lived abroad for a long time eventually want to settle down in the Philippines when they retire, otherwise, they want to invest in properties to stay at when they come back for the holidays. As for expatriates they have incentives to retire in the Philippines such as senior citizen’s discount, an opportunity for permanent residency and work in the country or start a business. These people are usually looking for houses and lots conveniently located between the city and the provincial area.
#5 – Resorts and Hotels
With 2.2 million tourists visiting the Philippines in the first quarter of 2019 alone, there is a need to accommodate their stay. Locals and foreigners alike, enjoy visiting resorts and hotels in this tropical country. Whether investors are looking to own these kinds of properties or purchasing shares, tourism real estate is happening here. Entertainment establishments continue to be built like casinos and water parks, while people invest in residential properties for temporary tourist homestays.
#6 – Rental Condominiums
The New Generation Real Estate comprises of the millennials and Gen-Zs in the Philippines, where the median age is 24.3 years old according to world statistics. The current economy has made owning properties difficult and unrealistic for the younger demographics that they opt for practical living solutions like co-living in condo units, home-sharing, service apartments, and dormitories. It’s more popular for them to rent than to buy real estate. Although, the other option for them to own properties are through rent-to-own buying. Another demographic that invests in residential condominiums are Chinese expatriates working in the Philippines.
Now that you’ve read all about Philippine Real Estate Trends, you may be wondering…
How do I reach these people with different real estate needs?
We already talked about easy and simple Philippine Real Estate marketing ideas, and one of the most effective ways we shared is through email marketing. This tried-and-tested method is a must-have real estate professional tool because it is used for business promotions, sharing expertise and ultimately, generate leads using a real estate CRM (customer-relationship management) software.
We already shared with you FREE templates for real estate email marketing, but perhaps you’re not seeing any progress on your end.
So what should you do?
Here are some ways to make sure that your email campaigns generate qualified leads:
- Segmentation – Narrow down your focus by location, industry and even age; then cater your email campaign for each demographic.
- Use Jargons Wisely – As much as possible, study up on real estate terms when composing emails so your audience can relate with you.
- Keep In Touch – Give your leads ALL the ways they contact you other than your email by providing a business phone number and social media links at the end of your email signature. They can get to know you more and eventually, take an interest in your services.
- Response-Ready – The first few minutes and hours after your prospects view and/or reply to your email are very critical. They can either make or break your sale, so knowing what to say in almost any situation will increase your chances of getting a lead. Be sure to say “thank you” when they do respond, to make them feel good. Here’s a blog post from HubSpot sharing how to respond to objections.
- Landing Pages – every email campaign should have a “Call To Action” because you want your leads to avail your service offers, one of the ways to do it is by redirecting them to your landing page. You can give them a lead magnet by offering free content within this site or previews of the properties your selling.
Did you know that you can send email blasts to generate qualified leads in a matter of minutes? Book a FREE DEMO with Prosperna today and we’ll show you how easy it is to become successful in real estate.