Djon Nacario, General
Manager, Carousell PH (Left) and Shine Resurreccion, Head of Autos &
Property, Carousell PH (Right)
The real estate property sector is
gaining a strong and stable market among the yuppies and younger customers in
the past three years.
This was further proven during the
Property Expo 2022 held recently at the Palm Drive Activity Center in Glorietta
Mall, Makati, organized by Carousell, the leading
classified ads platform in Greater Asia. According to Djon Nacario, Carousell
Philippines’ general manager, the property category remains to be the
platform’s top search, of which 65 percent are millennials or those aged
between 23 to 38, and 20 percent are Gen Zs or anyone born in 1997 onward.
Nacario explains that this
purchasing power shift can be owed to the generations’ life stage: “The
millennials are already moving up in their careers and becoming more affluent
that’s why they are more bullish when it comes to purchasing properties or
upgrading their places.” He also added that they are moving to a different life
stage where some of them are getting married or building a family.
Meanwhile, he’s also seeing
an emerging trend where Gen Zs will be the next “property intenders” or those
looking to buy property in the next three years. “Gen Z are now entering the workforce
and becoming viable customers and investors when it comes to property.”
“In the next three years, we are still
expecting 43 percent of our users, which are millennials, to purchase a
property but the more significant change is that 40 percent are Gen Z,” he
further explained.
Aside from the millennials and Gen Zs,
Carousell users very relevant to the property category include parents and
students who are looking for places near schools with face-to-face classes now
in full swing, the deal hunters, the working class with high spending
capabilities, and families with kids.
While Shine Resurreccion, Carousell Philippines’
head of autos and property, admits that the real property sector took a hit
during the pandemic, she anticipates swift recovery in no time. “While there
was contraction in sales during the pandemic, three years after or at this
point in time, we’re already seeing recovery. So based on Carousell data, there
is a 40 percent increase in house and lot and more than 30 percent in
condominium purchases.”
The Carousell Property Expo, touted as
the biggest property event in the country, was held
from November 7 to 18, 2022 with a hybrid set-up of online and on-ground
activities.
From November 7 to 16, 2022, The Property Expo
2022 held a virtual webinar series discussing everything participants needed to
know about buying property to unlock their #HomeGoals.
The webinar series featured
renowned speakers consisting of entrepreneurs, thought leaders, and industry
professionals including the country’s leading real estate broker David Lee
Chiu, CEO of Leechiu Property Consultants Inc.; The Property Forum’s Managing
Director, Noli Alleje; President and CEO of Conveyance Realty Services
Inc., Hardy Lipana, and chief operations officer of Human Shelter Realty Corp.,
Chris Suarez
Meanwhile, the onsite expo held from November
16 to 18, 2022 gathered property agents and developers and participants where
they were able to engage in educational and networking sessions.
To know more about Carousell, visit https://www.carousell.ph/
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