Aboitiz property arm riding on property trends and digitization, eyes industry recovery
AboitizLand announced that its first quarter sales take-up is already at 44% above target, even exceeding by 61% its performance during the same period last year before the global health crisis started. The market’s growing preference to live away from populous cities and the digital transformation initiatives that the developer has embarked on are contributing to the company’s robust sales.
The Philippine real estate industry is showing signs of recovery with growth indicators pointing to increased demand for horizontal developments outside the big cities. A leading developer of innovative residential projects across the archipelago and the property arm of the Aboitiz group of companies, AboitizLand is helping fuel this steady growth through a supply of house-and-lot inventory in areas outside Metro Manila such as Batangas, Cabanatuan, Capas, Pampanga, and Cebu.
To a large extent, the price increases last quarter can be attributed to a surge in home sales in areas away from the National Capital Region, according to the Bangko Sentral ng Pilipinas. This movement away from traditional urban centers to spacious, nature-abundant locations has also been observed around the world. Furthermore, the BSP reports a decrease in condominium unit prices both within and outside Metro Manila, partly because of the weakening demand for transient accommodations during the coronavirus crisis.
The preference for house and lot projects instead of units in vertical developments will likely sustain value appreciation in the coming years, notes property consultancy firm Colliers. This shift in consumer preference is considered paramount to the recovery of the country’s real estate sector.
AboitizLand’s house and lot properties outside Metro Manila are strategically located to take advantage of the growing infrastructure across the country. They are accessible via expressways that connect economic corridors and yet far enough away to offer privacy and abundant green spaces. Lamudi, a leading online real estate marketplace, discloses how property seekers are now choosing to live close to nature, evidenced by a boost in demand for residential properties located in tourist or recreational destinations such as Batangas and Lapu-Lapu. It is also observed that property seekers place a renewed importance on overall health and well-being, driving them to search for properties with access to multiple amenity offerings such as AboitizLand’s master planned communities that prioritize and promote work-life balance.
Aside from the pandemic, factors that are driving interest in properties outside Metro Manila are a growing expat community, overseas investors, and the presence of major infrastructure projects which will improve the accessibility of key cities outside NCR such as the almost completed Cebu-Cordova Link Expressway, Lamudi reveals.
People in Luzon, including current and future residents of AboitizLand’s communities there, will enjoy transport ease and property value appreciation that can arise because of the presence or near completion of major infra projects within the country’s largest island: Central Luzon Link Expressway (CCLEX), Tarlac-Pangasinan-La Union Expressway (TPLEX) Extension, Manila-Clark Railway, Clark International Airport’s new passenger terminal, New Clark City, New Manila International Airport in Bulacan, Skyway Stage 3, and NLEX-SLEX Connector.
Even before the pandemic, AboitizLand was already preparing to implement a digital shift to advance business processes and make its services more ‘online customer’-friendly. But the coronavirus crisis accelerated the company’s digital transformation almost overnight.
Under AboitizLand’s contactless sales and customer engagement program are innovations that included updating the AboitizLand Vecino app, a mobile application that offers homebuyers enhanced end-to-end online servicing. Interested buyers may browse product offerings and schedule one-one-one product presentations and virtual tours across AboitizLand’s several online platforms. From there, payment of reservation fees using credit or debit cards and submission of documents may be done in-app. After purchase, property owners can track construction progress and monthly payments through the app, as well as apply for bank loans with partner banks and schedule acceptances and turnovers. The AboitizLand Customer Service Team is also reachable through the app for account concerns or requests and submitting feedback.
The program also benefits AboitizLand’s network of Sales Partners by engaging them with skills training, empowering them to sell digitally.
With continued good sales take-up because of emerging housing trends, combined with innovations in digital selling and a renewed focus on customer service, AboitizLand is helping shape the future of real estate and the home-buying experience, as it continues to make better the lives of their current and future vecinos.
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