When it comes to investment, buying real estate is generally a great option. Investing hard-earned money into a condo for sale will usually work for people in the short or long-term. One can have it listed for residential lease to earn passive income, which in turn can be used to pay off monthly amortization payments. If the property is located at a real estate hotspot, one can sell it at a premium.
While this seems to be the most logical way of thinking for most buyers, a Google Trends 2017 study revealed millennials also consider other factors when it comes to spending their money. Google Philippines industry analyst Geia Lopez said millennials will invest in a real estate property if it provides access to the things they consider as valuable.
Although “adulting” was the most popular search interest among millennials, the two other top interests searched centered on creativity and experiences.
Happiness = Ownership
So how do your fellow millennials go about choosing and buying real estate that’s worth the investment? Here’s how:
1. To acquire something of value, they check if it is a bang for their buck
But what does a “bang for the buck” actually mean? While most homebuyers compare property price points to their estimated budgets, millennials tend to check properties that give “more” than what they are actually paying for. To make the most out of their time and resources, millennials tend to go for properties that are located minutes away from the city center and personal points of interest like their place of work, entertainment hotspots, and schools.
Avida Towers Makati Southpoint, for example, provides an attractive option for millennials who want to be in the center of everything. Located in the quieter side of Barangay Bangkal, the property is within walking distance to both the business and entertainment districts of Makati. Some of the top schools and hospitals in Metro Manila are also a short drive away, as the condominium project is near two major thoroughfares (SLEX and EDSA).
And because it’s an Ayala Land development, millennials can rest easy knowing that they’re getting more value for their investment with right-sized units and all the privileges of living in a modern condominium that gives its residents access to an enriching lifestyle experience.
2. Millennials check if the property looks and feels like a stamp of success
Dr. Thomas Gilovich, a psychology professor at Cornell University, said that in his over two decades’ study of money and happiness, millennials still want a sense of validation in their investments. According to Gilovich, the tendency to keep up with the Joneses is more evident if it’s over experiential purchases rather than material goods. Basically, they want to have better experiences.
The implications for financial investments include having access to “experiential pursuits that promote greater happiness,” says Gilovich in a Fast Company interview.
It is no accident why Makati Southpoint and other Ayala properties are being built and developed in Makati. This city remains to be the most ideal place to live—and live out enriching experiences—not just in Metro Manila, but in the whole of Philippines.
Living in Makati Southpoint not only exposes future residents to an enriching world of the urban dweller in an Ayala development, but also the excitement Makati City offers.
3. Pave the way for them to explore what they are missing out
The great thing about living in vibrant cities like Makati is that people will always be encouraged to explore. Don Chino Roces and Antonio Arnaiz Avenues —both a stone’s throw away from the property—provide an array of cuisine and shopping options from holes-in-the-wall restaurants and specialty shops. Makati is a great place to stay and enjoy simple pleasures during weekends and holidays, thanks to a number of major shopping malls, museums, art venues, parks, and other eco-friendly hotspots.
If residents do not feel venturing out into the neighborhood, they only need to go out of their condo units and have a mini-vacation. Makati Southpoint’s amenities include a swimming pool, indoor gym, and wellness area. Kids can also take advantage of the property’s play area and kiddie pool.
4. Belonging in a community with shared experiences, social status, and interests
Gilovich said millennial consumption is now driven by the need to share common experiences with others. As such, real estate properties that incite a sense of community are more favored because of the potential fun and joyful memories it will give them.
Residents are most likely to feel connected with other residents at the clubhouse, and jogging paths offered at Makati Southpoint. The green lounges are designed for relaxing and hanging out with friends old and new.
Find Avida Towers Makati Southpoint appealing as your next real estate investment? Head over to Avida’s latest residential gem here.