Survey: Millennials Willing To Relocate For A Job Opportunity
A survey showed that a job opportunity ranks as the top reason among Filipino millennials who wish to move to a different city if it means being closer to the potential workplace.
For instance, some young professionals may choose to rent an affordable condominium in Ortigas Center to be near their jobs in Pasig, Makati or Quezon City.
Heavy traffic also led some millennials to relocate to a different city, according to the survey. These people would be willing to leave their parents’ houses, in exchange for a short commute to work. Some people do not even need to catch a ride and simply walk to their office.
Whether it is a property rental or their own place, millennials’ willingness to live alone may soon cause a social paradigm shift. Most people would only live away from their parents upon getting married, although those who have their residential property reported the highest level of satisfaction, based on the survey. This trend serves as one reason why occupancy for residential properties has been lower so far this year.
Colliers International Philippines said that vacancy rates in Metro Manila would fall between 11% and 12% by the end of 2018. This somehow causes prices to increase due to the high demand and low supply.
The average price of a luxury condominium unit in Metro Manila cost P6 million. If you are looking for a place to rent instead, you should expect rates to increase by up to 0.5% per year between 2019 and 2021.
When choosing a place for rent in Metro Manila, do not just settle for any place because of its low price. It should ideally be your home away from home since you are trading the convenience of living with your family to a state of independence.