Condo rental leads double in Metro CBDS

SOME of Metro Manila’s central business districts (CBDS) have seen a strong demand for leased vertical housing as many professionals shift from fully remote to on-site and hybrid work, according to a report from a real estate marketplace.

Data from Lamudi showed double-digit growths in leads for condominium rentals across Makati, Pasig and Taguig from the fourth quarter of 2021 to the first quarter of 2022 alone, mostly coming from mid-cost units priced from P15,000 to P60,000.

In Makati, affordable condo for lease at P15,000 to P30,000 still accounted for the biggest pie in terms of leads in the first quarter of 2022.

The same segment took the largest share of leads in Pasig and exhibited the highest quarter-on-quarter growth in leads with a 46-percent hike from Q4 2021 to Q1 2022.

Leads for condo units in Taguig also rose by more than 60 percent quarter-on-quarter in the first quarter of this year, with the P30,000 to P60,000 price tag attracting the highest number of leads.

Per Lamudi, property renters had also become more interested in upscale rentals as higher price categories saw a tremendous spike in leads across the CBDS.

For instance, leads for condo rentals in Makati with asking price between P60,000 to P100,000 ballooned by almost 90 percent quarteron-quarter, the largest surge out of all other segments in the first three months of 2022.

This may be due to the growing requirement for a larger personal space following the pandemic, as the majority of leads for listings under this category went to two-bedroom (BR) followed by three-br units.

The P100,000 to P200,000 price segment in Pasig garnered 42 percent more leads QOQ in Q1 2022, while the most searched sub-categories for condo for rent overall were two-br units followed by one-br units.