By Vernon Gabrielle Velasco
THE local condominium market is steadily growing and becoming increasingly competitive as evidenced by residential towers and communities being developed left and right.
With various configurations, styles, and manners of facilities and amenities situated in key locations—now is definitely an exciting time for the real estate market, especially for buyers who have more and better options to choose from.
Given that the primary function of a condominium in the property industry is convenience, Vista Residences (VRI) has been seamlessly incorporating the various elements that will contribute to this and is, thus, proudly offering clients an array of home options at various price points. The company continues to rise to the challenge of offering only the best and raising the bar for other developers to try and follow suit.
Vista Residences: Jumping right in to make dreams come true
As the condominium arm of Vista Land, the country’s premier property developer—VRI has the experience, expertise, reach, loyalty and full support of her mother company. So, when the company dug its first foundations about a decade ago, it was gung ho from the start.
One powerful advantage of being part of the country’s top real estate company is being born with an acquired and carefully studied knowledge of the Philippine buyer, as well as the global property investor market. With all that going in, Vista Residences structured its objectives, building designs, programs, and services based on what the markets want and need today. This also helps give the group the ability to predict how those same markets will grow through time—evolving the company, its towers, and services suitably. By improving designs, creating more services, bolstering the lifestyle facilities, finding convenient locations and jumping on global hot buttons like green architecture, VRI tells its markets what to ask for, while realizing that everything the group does must also be directed towards understanding their markets’ dreams and making them real.
Beyond this understanding and appreciation of their buyers’ psyches, VRI has also seen it necessary to keep tabs on their residents and future buyers with research that reveals what compels people to buy a home and what makes them happy. In 2014, following a massive Vista Land-commissioned research on awareness and satisfaction ratings among potential homebuyers in the country, and across all real estate brands, the company conducted a second study among current Vista Land homeowners to learn what they have or want to say about their experience. It was a study formulated to allow the various companies identify areas of success and the improvements that can be incorporated into their future plans and strategies.
VRI homeowners are quite content with their purchases
The study was specifically designed to identify the customers’ reasons for purchase, unmet needs and wants, diagnose strengths and weaknesses, pinpoint areas for improvement, establish growth opportunities and determine overall satisfaction.
An interesting profile of the VRI market emerged: More than half are single and the rest is a split between newlyweds and young couples with children. Most of the buyers were living in their own home—most likely the family’s home when they purchased their unit and the rest were renting. A significant number of buyers purchase their units as second homes while the others buy them as their primary domiciles. This bodes well for the property industry as it indicates that many Filipinos are in the market for more than one piece of real estate.
It was also found that upon deciding to buy a unit, only a handful canvassed among different developers, while almost half of the buyers already had VRI in mind and around 30 percent were hoping to get a Vista Residences condominium.
Why did they prefer VRI? There were two drivers: One is accessibility—60 percent specified the convenient locations of the Vista Residences towers; and two, 40 percent chose Vista Residences because they trust the Vista Land brand and believed they are a “well-known developer.” Majority of those asked claimed to be satisfied with their “home in the sky” and the tower or complex they lived in. In fact, 50 percent will definitely consider buying from VRI again, while the others consider recommending a Vista Residences property to other people.
VRI residents are very happy with their choice
In the study, the respondents’ high level of satisfaction was equated with “happiness.” When asked what they were happy with, the number one reason was location—their “homes” came with easy access to commercial establishments, hospitals, schools, markets and transport hubs. The second cause of happiness was safety and security— the 24-hour security guards stationed at the entrances and on patrol at night, the fire prevention systems and CCTV gave respondents considerable peace of mind.
Third, and almost at par with each other, were the “nice ambience” and the facilities that came with their condo. The residents were delighted with their community’s ambience and exclusivity. They felt their condominiums were “classy” and they loved the “design” of their buildings. As for the utilities, residents said they were very happy with the electricity; clean water supply; back-up generators; paved, wide roads; cable; and internet services. Plus, they felt the properties and their environs were “well maintained.”
Upon turnover, the respondents were very pleased that the property was in excellent condition. They were also actually quite satisfied with the price of their condo unit, claiming that the reservation fee and down payment were very reasonable, and the value of their property appreciates. The numbers validate VRI’s processes and hard work, but they also indicate that the group should not rest on its laurels. The competition can only get stiffer, so the group needs to up the ante even more and stay ahead of the pack.
Vista Residences: Thoughtful and sustainable design
Vista Residences carries with it Vista Land’s nearly four decades of experience in developing properties and creating master planned communities. In addition to this, the company is committed to assuming a chief role in the condominium sector, creating greater awareness of their capabilities, as well as enhancing efficiencies in their resource distribution.
Learn more about the Vista Residences properties, call 650 0753 or 0999 8871705, visit www.vistaresidences.com.ph. For news and updates, follow vistaresidencesofficial on Facebook and vistarescondo on Instagram.
