As our main source of income, the way we work will affect many important life decisions, and this includes where and how we live. Let’s look at some current workplace trends and how these will impact residential developments now and in the future.
Trend 1: Millennials are constantly on the move.
Gone are the days when employees worked for a company and be contented in their job roles for the rest of their careers. Nowadays, millennials (those born between the early 1980s to early 2000s), especially, are increasingly mobile, either moving up the corporate ladder in one organization, or jumping to another company because of a more lucrative post, career advancement, or other opportunities.
Influence on residential developments: There is now a growing demand for residential developments that are situated in areas not only accessible to major transportation hubs, but are accessible to economical zones such as central business districts (or CBDs) and economic zones.
Sunshine 100 City Plaza, for instance, is located along Pioneer Street in Mandaluyong. It’s right in the middle of three major commercial business districts: Makati, Fort Bonifacio, and Ortigas. People can transfer from one work location to the next without needing to disrupt their lifestyle.
Trend 2: Generation Zs are joining the job market in waves.
Generation Zs (those born between 1994 and 2010) are making their presence felt in the workplace. Because they are tech-savvy and and have been exposed with the work-life balance and personal growth ideals, they choose a company to work for that also shares these ideals.
Influence on residential developments: As Generation Zs will be working with modest budgets in the next few years of their careers, developments with smaller cuts, low downpayment schemes, and flexible payment terms will be appealing to this young and aggressive market segment. It would also be a big plus if it’s located in up-and-coming neighborhoods (like this one in Pasig) where there are a variety of lifestyle options available to them.
Sunshine 100 residents will feel right at home with some of the city’s best-reviewed restaurants and holes-in-the-wall nearby.Trend 3: More people are looking at flexible working arrangements.
The freelance market is growing in the Philippines, and more professionals are working on a per project basis instead working full time, or are getting recurring or part-time “gigs” to augment their income from their day jobs.
Moreover, the rapid evolution of collaborative communication technology has changed how companies perceive a typical workday shift. Companies like startups are now allowing employees to work at home to better adjust to the real-time schedules of their clients abroad or reduce the cost of maintaining a larger office.
Influence on residential developments: Space is becoming a non-negotiable, as these modern employees seek more room enough for their home offices.
Trend 4: More women are vying for leadership positions in the workplace.
A recent study revealed that in the Philippines, women are slowly but surely closing in on men when it comes to capability, employment participation, and leadership roles. They aim to make a name for themselves in the workplace without having to compromise duties at home.
Influence on residential developments: Women will be looking for homes near or accessible to almost all of the amenities and facilities they need to successfully fulfill their responsibilities both at work and at home. Moms with young children, for example, might consider living near schools to cut time (and worry!) spent on commute time. Residential developments within or near malls are becoming more attractive to starter families who wish to have everything just a 5-minute walk away.
Trend 5: BPO companies remain strong and are among the country’s top employers.
The Philippines is among the world’s biggest business process outsourcing (BPO) service providers to date, with 1.2 million people employed in this sector as of 2015. According to the Department of Labor and Employment, the BPO sector aims to create 325,000 more jobs, standing to reach $25 billion in revenues for 2016 alone.
Influence on residential developments: With BPO companies operating 24/7, developments must look into security and access to round-the-clock public transportation. Moreover, this also means having that these developments should be around the mid-range to affordable, and are situated within 24/7 primary establishments and food joints.
Along with the continued strength of BPOs is the growth of the expat community, who are in the country to share their expertise with the homegrown workforce. Well thought-out, culturally diverse communities where they could live, work, and play will be a big draw to this homebuyer segment.
Looking for a home in a central location? Start your search here.
