How Effective is Online Marketing for Philippine Real Estate?

Changes is continuously coming due to the never-ending   evolution of technology. This is particularly true in some industries that have successfully adapted in the current global business landscape.

For real estate, many licensed professionals are taking advantage of the World Wide Web to reach their target market. Gone were the days where you only have to rely on the people that you know and those you meet on the streets to promote what you offer. With the advent of social media platforms you can instantly reach almost two million possible clients with just a few clicks away.

Lamudi Philippines, a leading real estate website and an expert on online real estate marketing, shares the reasons why many real estate professionals claims that online marketing is now the way to go.

Wider Reach and Limitless Possibilities

According to internetlivestats.com 43.5% or almost half of the Philippine population are using the Internet. Imagine being able to tap even just a fraction of that number. Fortunately, there is just so much that you can do online to get the attention of Internet users. Some of the most effective tools like clear and crisps photos, short but engaging videos, and now virtual reality are just some of technology-enhanced gears that you can harness to capture your market.

One best example is the magnified effect of word-of-mouth advertising. For instance, a nice new place complete with residential and leisure components that becomes an instant hit to social media users can effectively help a rising condo in that area. Shares will just pour in and you will just ride the hype and count your sales.

Harold Geronimo, AVP and Head of Public Relations and External Affairs of property giant Megaworld Corporation, shared that his company is now recognizing the evolution of the market. From heavily banking on various traditional advertising methods, the shift to more portable, more real-time and fast-paced approach to reaching your target audience is gaining importance. Because of this, different online promotion techniques such as social media channels, blogs and websites have become an integral part of Megaworld’s marketing mix.

Mr. Geronimo also emphasized that the fastest and cost-efficient way to distribute content is through social media. “Almost all segments of consumers in the Philippines are on social media and we want to be where our target markets are. With the growing competition of real estate in the country we are utilizing the online space to spread our creativity and be ahead of other companies,” he stressed.

Lamudi also interviewed Pinnacle Real Estate Consulting Services Inc., one of the top property management and brokerage services providers in the country, and they stressed that digital marketing is now considered one of the best ways to advertise as this provides a wider reach and the fastest vehicle toward clients.

On the GO!

Posting listings or browsing for a dream home is just quick and easy. As Internet and technology become more mobile, the chance to find your next big sale or your first investment can be done simultaneously with other tasks. As Filipinos learn to value their time and resources more, people tend to rely on various applications, service-focused websites and other technology-assisted means of making life a tad easier.

Alejandro Mañalac, Executive Vice-President of Step Philippines, Inc., also revealed that digital marketing plays a big role in their day-to-day real estate operations. “Generating leads wherever and whenever really maximizes time and resources. Furthermore, upon receiving inquiries from our various campaigns, we are already equipped with the information that we can share instantly while the leads are hot, which means quicker response time,” Mr. Mañalac enthused.

Sales, Sales, and More Sales

The potential to earn a six-digit income monthly with just a few sales is the ultimate come-on spiel of successful real estate brokers. Mary Clair Dino, licensed real estate broker who freshly acquired her PRC license last year, is now very interested to give real estate platforms like Lamudi a go because of her experience in successfully closing sales using just Facebook (and without extensive training and very technical knowledge to do such). “I just posted pictures and shared the advantages of the properties and I successfully closed deals, then it occurred to me that there is more to Internet marketing,” shared Ms. Dino when asked why she is interested to subscribe on Lamudi.

10 Philippine Cities to Watch in 2017

With sustained progress in the real estate industry backed by an overall economy that various financial institutions predict to grow between 6 to almost 7 percent in 2017, many places in the Philippines are becoming increasingly ideal to live and/or invest in.

Whichever reason to move: a fresh start, exploring new career and business opportunities, or a growing a family, ten of these places in the country, compiled by global real estate website Lamudi Philippines, stand out, and are worth your consideration for this year, and even beyond.

1. Cebu City

Ranked seventh by strategic advisory firm Tholons among best outsourcing destinations in the world due to the quality of workforce and tertiary education; relatively cheaper business cost; infrastructure network; and quality of life, Cebu is also a city to watch thanks to its considerable proximity to several of the Philippine’s best tropical destinations and affordable secondary cities.

It ranked sixth most competitive based on the National Competitiveness Council’s (NCC) survey, which measures local government units desirability based on economic dynamism, government efficiency, and infrastructure. Cebu City’s property listings on Lamudi for 2016 averaged 2,900 per month, only behind Makati (5,680), Quezon City (5,560), and Taguig (3,400). Upcoming real estate projects likes Solinea and Gatewalk Central (both by Ayala Land) and Cebu Exchange (Arthaland) are likely to boost inventory in the future.

2. Las Piñas

While Metro Manila’s current real estate market seemingly favors condo-seekers the most, Las Piñas remains a good option for buyers in search of houses. The city’s inventory of houses in 2016 averaged 680 per month, the third highest number in Metro Manila after Quezon City (2,800) and Makati (930), and the average price of two-bedroom houses in the city was Php2.8 million, compared to Php3.68 million in Quezon City.

While the city stands out among most of its Metro Manila neighbors in terms of availability of mid-priced residences, property values in Las Piñas may soon catch up as a result of major developments taking place in the city. Projects in Las Piñas include Alabang West, a mixed-use development by Megaworld featuring a Beverly Hills-themed lifestyle concept, and a yet-to-be-named 3.4-hectare property owned and being developed by 8990 Holdings Inc.

3. Iloilo City

While not as gaudy in name as Cebu or Manila, Iloilo City has grown to rival the two in overall livability. A regional center for academic excellence, it is home to about 30 colleges and universities that produce an estimated 15,000 graduates each year. Its well-educated workforce has contributed in the city jumping four spots to 91 in Tholons’ survey of best outsourcing destinations in the world.

According to real estate services firm Colliers International, this is driving demand for office space and worker accommodations, while the increase of workers’ disposable incomes, combined with the influx of tourists, continue to attract major retailers. Seemingly in time for property investors are the rise of several developments in Iloilo, led by the continued expansion of Megaworld’s Iloilo Business Park, and the initial establishment of Ayala Land’s Atria Park District.

4. Cagayan de Oro

Real estate pundits are seemingly in agreement that apart from supply and demand, property developers are now looking at local assets, such as tourism, as another facet to consider in expansion. This may be most evident in Cagayan de Oro, a city well known for its natural and historical attractions, now in being the midst of several development launches and project turnovers. Lamudi saw residential listings in CDO lessen toward the end of 2016, indicative of the increased occupancy in the city.

According to local business monitor CDODev, key commercial projects scheduled to open in 2017 are the SM CDO Downtown Premier, which will be the second SM mall in CDO, the Seven Seas Waterpark and Resort, and a CityMall in Bulua. The Bonbon area will see a new community fish port scheduled to open later in the year, while the city proper will see the continued progress of projects like Avida’s Aspire Tower, Camella’s The Loop at Limketkai, and Cebu Landmasters’ MesaVerte Residences.

5. Bacolod City

A constant in surveys naming the best places to live in the Philippines, Bacolod is becoming additionally notable for a growing business process outsourcing (BPO) and knowledge processing outsourcing (KPO) industries, which continue to attract businesses to the city. The IT Council and the Bacolod City Government predict the industry’s current 24,000 full-time outsourcing employees to rise to 60,000 by 2022.

This has played a hand in local retail and residential growth, evidenced by upcoming developments such as Capitol Central by Ayala Land, Northill Town Center and Upper East Township by Megaworld, and CityMall Goldenfield by DoubleDragon. If looking for investment properties, Colliers recommends worker accommodations such as studio and one-bedroom apartments. Availability for these is presently limited, as evidenced by the number of modest listings for such spaces on Lamudi in 2016.

6. Lapu-Lapu City

Secondary cities continue to be in demand due to their proximity to capital or major cities while remaining relatively more affordable. In the Visayas, one such place is Lapu-Lapu City, a popular alternative to costlier Cebu City. In 2016, two-bedroom houses for sale in Lapu-Lapu City listed on Lamudi averaged Php2.295 million.

While having always had tourist opportunities due to the presence of the Mactan-Cebu International Airport and its different natural and historical attractions, local real estate stock in Lapu-Lapu looks to also increase soon, with projects like Megaworld’s Mactan Newtown, Sta. Lucia’s Arterra Bayfront Residences, and Futura Homes – Mactan by Filinvest Land. The Philippine Reclamation Authority is also set to start its Mactan North Reclamation and Development project.

7. Mandaue City

There may be no better alternative for accommodations and real estate to Cebu City than Mandaue City. The latter is located at the former’s immediate northeast, and is the ideal location for home-seekers that want to invest on a home near the Visayas capital as opposed to renting a more expensive house in Cebu City itself. On Lamudi, two-bedroom houses for sale in Mandaue average Php2.631 million.

New developments continues to enter the city, as homegrown developer Iron Wood Property Ventures topped off its Northstar condominium project at the end of 2016, while firms like PrimaryHomes, Inc. have gone on record to say they are exploring Mandaue as a location for future projects. Echoing the sentiment, Colliers said it expects condominiums in the affordable segment to rise in the city.

8. Dasmariñas

With declining developable land and increasing property costs in Metro Manila, neighboring CALABARZON continues to see an increase in real estate demand, particularly from buyers foregoing starter homes for long-term properties. Seemingly one of the most viable areas in the region is Dasmariñas which, based on Lamudi’s listings data, has some of the most affordable average prices for houses for sale among CALABARZON and Metro Manila cities in 2016.

At Php2.1 million, houses with two bedrooms or more remain reasonably priced in Dasmariñas. It seems the city also offers the most options, averaging the most listings (415 per month) for multiple-bedroom homes for sale in CALABARZON. This stock will likely be furthered via upcoming projects like Sta. Lucia’s Mesilo, 150-hectare first class development, and Alveo Land’s Ardia, a prime residential subdivision set between Dasmarinas and Imus.

9. General Trias

While Dasmariñas can be deemed the option in CALABARZON for mid-priced and mid-sized residences, General Trias is seemingly the place for more modest properties. This Cavite municipality has one of the lowest average selling prices for smaller houses (at most two bedrooms) at Php833,992. Based on 2016 Lamudi data, General Trias on average has 70 such properties—two bedrooms or smaller—listed on the website in a given month.

General Trias has become a go-to location for developers and their innovative takes on affordable housing, with developers like BellaVita (an Ayala Land subsidiary) and Suntrust Properties (a subsidiary of Megaworld Corp.) having established such projects in the city. General Trias is not limited to the affordable housing market, however, as diverse projects like the 140-hectare Maple Grove, the 21st township project by Megaworld, will also soon be established in the city.

10. Davao City

Seemingly a result of the elections win of now-President Rodrigo Duterte, whom the Davao City Investment Promotions Center deems the “the perfect marketing ambassador for the city’s investment and tourism potentials,” Davao City has seen a surge of investments come from local and international parties. The Board of Investments (BOI)–Southern Mindanao affirmed this, reporting Php2.5 billion total BOI applications approved and registered from January to October of 2016 were poured into the city.

While increased awareness comes increased interest in Davao that will likely result in more investments in 2017, prices for homes for sale in the city for now have remained favorable, with two-bedroom houses listed on Lamudi for an average of around Php2.5 million in 2016.