In these challenging times, what remains constant is the steadily increasing demand for luxury properties. Now that they are spending more time at home, families are now willing to pay a premium for comfort and functionality in their living spaces.
New Generation of Buyers Rising in the Luxury Real Estate Market
Sotheby’s International Realty Chief Marketing Officer Bradley Nelson told Bloomberg that Millennials are changing the luxury real estate market and they are going big when it comes to purchasing their first homes. Unlike their older counterparts who embraced “starter homes”, these highly educated consumers are buying multi-million dollar homes.
Private construction bounces back in Q2
The Philippine Statistics Office (PSA) announced earlier this week that building permit approvals rose by 114% year-on-year to 38,389 in the second quarter.
