The rise of branded and resort-style residences in PH
Branded real estate and resort-style residences are two property segments that continue to gain momentum in the Philippine market.
As buyer preferences continue to evolve, more developers have been collaborating with globally recognized hotel chains as well as building resort-themed projects to cater to a growing demand.
“Branded residences are hot properties due to strong growth potential and prestigious investments as they diversify from central business district locations to resort destinations, catering to the demand from sophisticated investors,” explained Cyndy Tan Jarabata, president of Tajara Leisure and Hospitality Group Inc. and chairperson of Philippines Property Awards.
“We see branded residences branching out from the capital to underserved markets and hubs throughout the country. Rising affluence and disposable incomes in the Philippines have also emboldened international brands to associate themselves with local developers, attracting high net worth affluent foreign buyers collecting branded residences in the region,” she continued.
International grade yet affordable
Homegrown developers are also expanding and building their own names in the branded residences sector, instead of relying on international chains and brand names, Jarabata disclosed. These local developers present international grade yet affordable offerings, with a touch of Filipino culture.
Aside from branded properties, developers are increasingly building resort-style communities, thanks to infrastructure improvements in growth areas outside Metro Manila as well as Metro Cebu and Metro Davao.
It should be noted that while there is a clear and growing demand for open spaces, easy connectivity to urban areas as well as availability of utilities and basic facilities remain a priority for property seekers.
Success of themed communities
The success of themed communities also hinges on the progress of our local tourism industry.
“Though we only logged almost 6 million international arrivals, the demand is thriving on high domestic travelers especially among affluent Filipinos—for tourism-driven and resort-integrated projects, whether as second homes or investment assets,” Jarabata pointed out.
“This is roundly reflected in our awards, which have diversified over the years to honor residential properties in prime locations, such as those by the waterfront and those properties with amenities that allow leisurely, laidback living,” she added.
Trusted platform
Jarabata is referring to the PropertyGuru Philippines Property Awards, which recognizes real estate developers that showcase exceptional quality, design and innovation. First launched in Thailand in 2005, the PropertyGuru Property Awards series is a widely respected and trusted platform that showcases the achievements and innovations of developers throughout the region.
The Philippine edition has been around since 2013 and from nearly 20 categories that year, it now gives out accolades for over 80 categories, including awards for social impact, sustainable design, sustainable construction and energy efficiency.
“The awards influence the real estate industry in that they become trustworthy benchmarks of quality. These marks serve as an impetus to not settle for mediocrity, to continually innovate, and to aim for excellence,” Jarabata explained.
Striving for high quality
With every golden statuette that each developer receives comes a reminder to always strive for high quality. This, in turn, benefits consumers, investors and agents who have more first rate choices where to live, work, play and invest.
“To stand out in a competitive market, new developers and hospitality investors should focus on creating unique, sustainable, and guest-centric experiences,” Jarabata said.
“Understanding the local market’s needs and designing projects that contribute to the community’s well-being will set them apart. Consistency in quality and a strong brand identity, along with a focus on sustainability and long-term value, will help ensure success in an ever-evolving market,” she concluded.
