5 Secrets How A Real Estate Developer Last For Decades

Data show that 20 percent of most businesses fail in their first year, 50 percent go under in their 5th year, and 80 percent in their 10th year. This only means that businesses that remain thriving for decades must have secrets to their success.

The COVID-19 pandemic, for one, is one of the most volatile times for real estate. Many businesses, small companies or big enterprises, closed down due to the global economic recession.

But, if you happen to live in one of the most livable residential communities in the Philippines, you’re lucky you have a reliable real estate developer.

So, how do these property developers survive difficult challenges? Let’s take a look at the reasons why all these years, a real estate developer has lasted for decades.

Challenges Faced by Real Estate Industry

The real estate market is beginning to bounce back amid the global health crisis in the Philippines. Many foreign and domestic investments are coming in as the country loosens its COVID-19 implementing rules and guidelines. As a matter of fact, tourism is among the key drivers in keeping the real estate sector robust and healthy. However, other challenges continue to hinder real estate property and urban development growth.

High Inflation Rates

It is no secret that high inflation rates made property owners difficult to pay their mortgages and loans. The cost of living is getting more expensive due to the weak Philippine currency, high fuel prices, and many more. As a result, more Filipino homebuyers are having second thoughts about getting a house and lot in the Philippines as part of their investment.

House Construction Delays

Due to the COVID-19 pandemic, many real estate developments are also delayed in construction, while some have stopped residential developments. Meanwhile, other real estate developers compromised construction quality and product availability to get the housing developments done before stricter community lockdowns and quarantines strike again. 

Real Estate Price Increase

Now that the country’s economy has returned to normal, certain forces drive property values to increase in the future, such as an increase in the supply chain. Therefore, many Filipinos might find it hard to buy an affordable house and lot if the real estate property value increases.

How Real Estate Developers Thrive for Decades

As for an established real estate developer, these challenges mentioned above are already part of their investment journey. They made sure to properly address these issues and provide sustainable solutions so homeowners can achieve their dream homes for their families.

Here are their five (5) hidden secrets to thriving in the real estate business. 

1. Focusing on the Target Market  

An established property developer has identified their preferred target market and focuses on their needs. They have spent time and effort on feasibility studies with their team of real estate professionals to provide absolute solutions to their target market. Thus, this target market serves its identity as a reputable real estate developer.

Lumina Homes, for example, targets Filipino families with mid-range income earners, OFWs, retirees, and millennials who are looking to buy an affordable house and lot for sale. 

2. Developing the Right Location for Real Estate Development

The most critical factor that homebuyers are looking for is a location that is accessible to their needs. It includes access to the nearest commercial properties and public amenities, such as shopping malls, government offices, entertainment centers, and roads.

That is why Lumina Homes developed over 50 locations nationwide so that homebuyers have a variety to choose from. From residential communities near the city centers to housing communities in provinces, Lumina Homes have the right housing packages for buyers based on their preferred location.

3. Adapting to Changes

Given the fact that the real estate industry is constantly changing, an established real estate developer has the capability to adapt to changes. Incorporating technology and other advancements to market their real estate properties became the norm. 

For instance, Lumina Homes created a user-friendly website and responsive mobile page. Potential buyers can take a virtual tour of the model homes, a platform to calculate their estimated amortization, set an appointment, and know the latest updates through news and blogs. This type of feature even attracts tech-savvy millennials. 

4. Building a Livable Community

A typical property developer builds houses, and that’s it. But, established developers build a livable community. They made sure homeowners lived harmoniously and safely. They do not just build houses; they also create mini-parks, children’s playgrounds, jogging areas, and other facilities promoting health and wellness. Hence, they are encouraging the homeowners to interact and make friends. 

Apart from these amenities, they also put up security personnel roving around the community and positioned them in their main entrances. Therefore, you have the assurance that your family is safe and secure.

5. Offering a Variety of Investment Options

An established property developer knows that homebuyers have different tastes in terms of investment options based on their lifestyle and financial capability. This is also why Lumina Homes offers a wide selection of model homes. From duplex houses to rowhouse and single-family homes, rest assured these homes are suitable for every Filipino family and young individual.

Get Started with the Right Real Estate Developer

Real estate property developers that lasted for decades are proof that they have followed their core values. They simply do not sell houses; they aspire for dream communities, accessibility and convenience, security and safety, and guaranteed real estate assets in the future. That way, homeowners can build beautiful memories without worrying about moving to another place.

So, if you want to secure your future and your family, look no further than Lumina Homes. We offer modern-designed homes that suit your budget and lifestyle and are developed by one of the best property developers in the Philippines, Vista Land and Lifescapes, Inc. Expect that these are quality homes built in a livable and sustainable community. 

To know where our housing communities are located, contact our accredited sellers for more information and details.