When buying a condo unit, a prospective buyer often does so for either of two reasons: to live in the unit or to have it rented out. For a large number of those buyers, the purchase is seen more as an investment as they can in turn rent out and earn from the unit, while enjoying the increase in value of the property. This seems to be the case for younger people who are starting to invest in real estate.
“Based on interviews with various brokers, most of the people buying condominium units are between 30-45-years-old,” says Catherine Reformado, Associate Director-Research Division of Leechiu Property Consultants. “These are either start up families (first time home buyers) or investors (unit for rentals). There are also younger millennials (below 30-years-old) who are buying for their own use but mostly those within the price range of Php2 million-Php4 million.”
For the younger millennials who have just entered the workforce, Leechiu’s research indicates that these are generally first time home buyers who are looking for places that are accessible to where they work. Reformado adds, “They want a unit that is near to everything, yet affordable.” Renting out a unit and generating passive income is also an appealing proposition to these buyers according to Reformado.
“There is more market awareness,” she adds regarding this generation of real estate buyers, while noting that they are educated enough to know the importance of 1. investing young, 2. liquidity, and 3. securing one’s future. Reformado points out that, “real estate is just one avenue to increase assets and generate income with sure capital appreciation, that’s why at an early stage in their career they save money to purchase a property.”
In terms of accessibility, two stations of the soon-to-be-completed MRT 7 line is just a few meters away from Trees Residences. The train line will connect to the North Triangle Common Station, where transfers can be made to the LRT 1 Line, MRT 3 Line or the Mega Manila Subway, which leads to Makati, Ortigas, BGC, the MOA Complex and the Ninoy Aquino International Airport terminals. This level of connectivity is deemed important by the young real estate market in choosing a property investment.
SMDC’s Trees Residences is also proximate to SM City Fairview, where a National University campus and offices of multinational BPOs are located. Having these institutions nearby make SMDC’s Trees Residences a lucrative and highly leasable investment.
With more millennials and the next generation making their mark in the work force, it is only natural that they take note of properties to acquire, whether it be for their own residential needs or to turn them into future investments. For either option, these individuals need not look any further than SMDC’s Trees Residences to meet their stringent investment qualifications.