Top 5 reasons why open spaces are important for home buyers in PH

Homes and condos that are adjacent to green parks and open spaces have become increasingly sought after, as the public finds ways to breath easy and imbibe tranquillity within nature.

According to the 2021 Philippines edition of Santos Knight Frank’s Global Buyer Survey, 41 per cent of Filipinos looking for second homes are keen on properties with “greener” or energy-efficient features. It also revealed that these buyers consider second homes not just an investment but also private destinations and accessible vacation homes.

The survey also found that in terms of location features, locals gave proximity to green space (17%), good air quality (17%), access to good healthcare (16%) and good views (12%) for home considerations.

“Green space” is considered vegetated land or water within an urban area or a community. It includes parks, gardens, playing fields, children’s play areas, woods, and other natural areas. They can also be grassed areas or green corridors like paths.

Open and green spaces near metro stations with better connectivity have also attracted attention among Overseas Filipino Workers (OFWs) who are opting to buy property for investment purposes. They likewise see this as their post-retirement home where they can relax in a natural ambience and at the same time have access to modern facilities.

Five main reasons which attract buyers to greener open spaces are:

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Environmental factors / Better air quality: Green spaces play an important role in a city for a wide range of reasons, according to the World Health Organization (WHO). There are several health benefits associated with green spaces, including better air quality, reduced traffic noise, cooler temperatures, and greater diversity. The overall benefits of cleaner air are innumerable going from easier breathing to better sleep.

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Health and wellness: With physical distancing rules, developers now have a greater understanding of how much space they need, not just to move, but also to socialize, exercise, and play. The emphasis on health and wellness has grown during the pandemic. According to surveys from real estate firms and consultancies, even condo buyers have shown a growing preference for green areas and gardens as it provides health benefits. It shows that health and wellness are vital considerations that offer the quality of life.

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Common area for kids to play:  Green spaces, according to Unicef, play a crucial role in children’s physical, mental, and social development – from infancy through adulthood. Taking children for a walk in the park can greatly improve their ability to concentrate. Green views from school windows are associated with better academic performance. Choosing a property with a kid’s play area has become a priority for home buyers.

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Social opportunity: It is easy to understand why green spaces generate so many social benefits by considering traffic jams, crowds, and pollution. Improved social relationships and a stronger sense of community are among the benefits, as these can be established in a more pleasant environment. Residents can taste suburban or rural life while not being too far away from the city.

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Post-retirement home near nature: After working hard throughout their career, Filipinos want to lead a peaceful life after retirement and get a feel for the countryside. Their increasing choice for open spaces in the lap of nature has made property dealers launch countryside projects with all the modern amenities and facilities. OFWs consider it as an investment opportunity and a home to relax post-retirement.

Staff Report

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