AS GENERATION (Gen) Z begins to enter the real estate market, property developers are adapting their strategies to cater to the unique preferences and needs of this new wave of homeowners.
Known for their tech-savviness, environmental consciousness, and desire for flexible living spaces, Gen Z is reshaping the landscape of property development in the Philippines, said Harold See, president of the Subdivision and Housing Development Authority-Central Visayas (SHDA-CV), on Tuesday, Sept. 10, 2024.
“This is the new market that we, developers, are currently preparing for,” said See, also the president of PrimeHomes Development Corp.
Gen Z refers to those born between 1997 and 2012.
See noted that developers aim to meet the expectations of both Gen Z and millennials, making homeownership more attractive and accessible to these generations.
To better prepare for this emerging market, See announced that SHDA-CV will host a one-day housing summit themed “Building Tomorrow: Homes for the Emerging Generation” on Sept. 17, 2024, at Nustar Resort and Casino.
The summit will focus on how the housing industry can evolve to meet the demands of a rapidly changing demographic and economy.
“This year, we will focus on the housing needs of the new generation—what types of houses they’d like,” he added.
The group, composed of 80 housing developers in the region, has lined up experts to discuss how housing projects can be designed to meet the lifestyle and concerns of younger homebuyers, who increasingly seek modern, flexible living spaces.
See said that the new generation of homeowners desires homes that support their work-life balance, with remote work becoming a permanent part of the post-pandemic landscape. These buyers are looking for flexible spaces with high-speed internet connectivity, among other features.
The group aims to emphasize the importance of forward-thinking solutions that cater to the needs of younger populations and future homeowners.
To address these needs, the summit will feature key leaders from government agencies and the private sector, who will provide updates on housing, the economy, infrastructure, and financing. Other topics will include design trends and updates on utilities such as power, water, and telecommunications.
Speakers at the summit will include Jose Soberano III, chairman, president and CEO of Cebu Landmasters Inc.; Rhea Navarro, vice president for project development at Aboitiz Power Thermal Business Group; Bryan Yap, CEO of Republiq Group of Companies; and Lyndon Juntilla, a lawyer and regional director of the Department of Human Settlement and Urban Development. / KOC