MANILA – Average monthly sales of Aboitiz real estate arm AboitizLand, Inc. have already exceeded pre-pandemic levels, reflecting the impact of innovative selling techniques and the shifting preferences of property seekers.
AboitizLand’s reservation sales for the months following the community quarantine have averaged above 80 percent of original targets despite lockdown restrictions and is well on its way to exceeding its 2019 performance.
“We are seeing sustained demand for our residential developments despite the limitations brought about by the pandemic. We are attributing this to a shift in our customers’ preferences towards houses and lots in next-wave cities, as bigger living areas, open spaces and amenities become more essential for work-life balance for people in quarantine,” AboitizLand president and chief executive officer David Rafael said in a statement.
The community quarantine has created shifts in residential real estate preferences: homes in suburban locations have become more attractive to property seekers, according to industry watchers.
Property listing Lamudi reports that 83 percent of respondents on its site have been considering properties away from traditional commercial and business districts.
AboitizLand’s residential developments, located in emerging growth centers in Central Luzon, Batangas, and in Cebu, are far enough from the congestion and noise of the metropolis but close enough to be able to drive to the familiar sights and sounds of the city, thanks to good road infrastructure networks.
“Our residential developments are all borne out of a clear understanding of the market’s desire to live better and more sustainably. They are characterized by a superior masterplan with signature features like greenbelts or natural green open areas and a network of walkable spaces and amenities. We believe that this is what people are looking for right now,” Rafael added.
AboitizLand’s quick pivot to digitize its sales and marketing processes is also paying off.
AboitizLand is one of the first developers to respond to changing market needs by taking their operations online and offering end-to-end, digital-based homebuying.
Its sales force also adopted a digital approach to selling through innovative tools, training programs, and incentives. (PR)