Pinnacle Real Estate explains how luxury condos are upping the stakes to give buyers a high-end lifestyle.
While most of the talk in Philippine real estate is largely centered on the underserved market of affordable or socialize housing, this has not stopped developers from continuously evolving their luxury residential condos, as observed by Pinnacle Real Estate Consulting Services, Inc.
For years, real estate developers have been concentrating on exclusivity as a way to attract high-end buyers. Condos at the higher end of the scale tend to offer bigger cuts to provide spatial comfort, maintain low-density living, and therefore more privacy. And while located within central business districts, they are often positioned away from the city’s hustle and bustle to give its discerning residents peace and quiet.
But according to the property firm, real estate brands are evolving. They are upping their game to attract more expatriates, local executives, and quality-seeking overseas Filipinos by applying certain perks that pander to these buyers’ need for an overall sense of a luxurious lifestyle. At the same time, they’ve also been incorporating conveniences that, while not entirely designed for high-end living, go with the needs of on-the-go clients during these changing times.
According to Pinnacle, luxury condos are still very much in demand among expatriates, local execs, and quality-seeking overseas Filipinos. (Photo from Pinnacle Real Estate Consulting Services, Inc.)
Once considered taboo for high-end condos, the idea of abandoning the seclusion of being far from commercial spaces by building extremely close to malls is becoming the norm, a style said to emulate residential condos of Hong Kong and New York. It has become such a successful change, in fact, that many developments are opting to build right on top of them. Case in point: One Rockwell, a Rockwell Land condo in Makati sits atop a retail podium with upscale restaurants and has a private underground access to Power Plant Mall.
Many luxury condos are also offering smaller, one-bedroom units. While this might mean a slight increase in residential density, these condos are most likely designed for young professionals who are satisfied living within limited floor space but treasure the luxuries accessed by those with a hankering for a larger living area.
Smaller units and access to malls are two current trends in luxury condo units, says Pinnacle. (Photo from Pinnacle Real Estate Consulting Services, Inc.)
For those who desire having someone waiting on them hand and foot, luxury condos offer butler and concierge services to cater to your every whim 24/7. One Roxas Triangle by Ayala Land and Raffles Residences are only a couple of developments offering these first-class bonuses.
As if it weren’t enough to be part of a community that offers exclusive benefits that are way above average, developers are also dialing up the idea of exclusivity by giving patrons membership to on- and offsite clubs. Alphaland, for one, provides its residential unit owners with free membership to City Club, their three-hectare leisure, entertainment, and business hub in Alphaland Makati Place. Likewise, residents of any of the condos within Rockwell Center have exclusive access to Rockwell Club, a center with world-class food and beverage offerings as well as sports and recreation amenities.
Read the full report here.