With the purchasing power of millennials steadily growing, many Philippine homebuilders have looked for new ways to reach them. However, SM Development Corporation has emerged as the group’s preferred developer. In fact, 54 percent of SMDC’s total sales in 2021 were accounted to Filipinos below the age of 35.
In many ways, the real estate market was driven by millennials during the COVID-19 pandemic. SMDC cited a study which found 85 percent of millennial respondents said they had either moved houses since the pandemic began or were planning on moving.
The needs of this group are quite different from previous generations. Items, such as high-speed internet, green areas and larger spaces in general, are a priority for millennials. Meanwhile, flexible payment terms make it possible for younger homebuyers to secure a residence that meets their needs.
Related: Philippine developer SMDC hailed for its Corporate Social Responsibility efforts
SMDC crafts homes with millennials in mind
While many developers in the Philippines found themselves unprepared for the sudden change in preferences, it was something SMDC had been focused on even before the pandemic began. The firm has worked to make luxury living more accessible across the country for years.
That starts with flexible payment schemes that ensure millennials can live independently without having to sacrifice quality. Residences from SMDC provide an upgraded lifestyle at an affordable price point.
Additionally, SMDC homeowners become part of integrated communities that have been carefully masterplanned and tailored to the needs of millennials. They aren’t simply purchasing a place to stay but are instead investing in a lifestyle.
This can be seen throughout all of SMDC’s projects. They feature retail areas and pockets of green open spaces that provide much needed convenience. There are upscale amenities that support improved work-life balance. Most importantly, developments are ideally located near public transport links and popular retail areas, lessening the need to travel around the city.
