It is like common knowledge -- or we can all agree this time -- that the pandemic has truly changed our lives. Prior to March 2020, no one could have imagined the way 2020 would end with thousands of lives lost, or, how the last quarter of 2021 would see us still living under the cloud of another new COVID variant.

The pandemic spared no profession, spared no industry, and spared no lifestyle. From education to banking, from food service to media consumption, the past few months saw rapid changes, which were unimaginable a few years ago. Wearing a face mask inside a bank? Or having all our meals delivered at our doorsteps? We can't imagine these absurd scenarios becoming realities of the new normal.

The property industry was not spared by the pandemic. A home became a haven for all kinds of activities -- work, study, play -- for all members of the family. As the pandemic lingered, people realized the importance of a functional and well secured abode. WiFi became the "lifeline" and leisure time consisted of watching Netflix series, working out at the garage, or having a new interest on plants and plates.

To clearly see how a segment of the Philippine property market reacted to the pandemic, Santos Knight Frank shared with Manila Bulletin's Property Living the "Global Buyer Survey: The Philippine Edition." The survey was conducted between June 10 and July 22, 2021. Santos Knight Frank is the first and largest fully integrated real estate services company in the Philippines founded by Rick Santos. The company is part of the Knight Frank global network.

In the report, there were three key findings classified into the following: 1) Pent Up Demand, 2) A Breath of Fresh Air, and 3) Changing Location Preferences.

The report summarized the "Pent Up Demand" as it showed that "40 percent of local respondents have moved houses since COVID-19 began, primarily driven by the need for outdoor space, downsizing, and access to better amenities."

The second, "A Breath of Fresh Air," revealed that "85 percent of Philippine respondents have moved houses since the pandemic, with 33 percent needing more outdoor space. While 64 percent expressed the importance of energy efficiency in their future home."

Last, "Changing Location Preferences," the report said that "40 percent of the respondents who are more inclined to move within the next 12 months after the survey said they are looking to do so to the suburbs, while 33 percent said to the city."

In the report's introduction, it recognized the influence of the pandemic in the decisions of high-income earners in the country with regards to their homes for the next 12 months. "Our Global Buyer Survey – The Philippine Edition, which explores local themes from the global edition of over 900 international and mostly high-income respondents, shows pent-up demand for new and second homes, and a preference for low-density environments and wellness-related features such as air quality and green spaces. Qualities that were once nice to have now command preferential interest among buyers."

"The results also suggest a shift of preferences among high-income respondents. There is a growing interest for the suburbs, although the city is still ideal for some buyers. Interestingly, health and wellness location features have increased in importance, while convenience-related location factors are seen as less important. These preferences may be caused by a myriad of reasons, such as the increasing adoption of remote and hybrid work setups and the fear of crowded places. It remains a question whether this shift will continue in the medium to long term."

The report acknowledged that the "findings suggest that the demand for homes remain but it also continues to evolve in light of the pandemic."

Here are more key findings and themes for 2021, as shared by Santos Knight Frank:

1) Pent-Up Demand

= The decision of local respondents to move houses since COVID-19 began was primarily driven by the need for outdoor space (33 percent), downsizing (17 percent), and access to better amenities (17 percent).

= 40 percent of respondents prefer the suburbs while 33 percent like the city.

= 36 percent of local respondents said travel restrictions have not influenced their home-buying plans at all and their budgets are unchanged since the start of the pandemic.

= One in every four local respondents said their decision was delayed due to travel restrictions, while 28 percent said restrictions have influenced the location where they want to purchase.

= 35 percent of these respondents’ main motivation for buying a next house is to upgrade the family’s primary residence.

= 41 percent of local respondents are more likely to purchase a second home than the average in Asia (27 percent) and the world (33 percent).

= After more than a year of experiencing travel restrictions, second homes are not only seen as an investment but also a private destination and accessible place of rest.

2) A Breath of Fresh Air

= One in every three local respondents said they are more likely to move to a detached home or villa, and 23 percent in waterfront residences.

= Location features that have increased in importance: proximity to green space (17 percent), good air quality (17 percent), access to good healthcare (16 percent), and good views (12 percent).

= Functional property features that have become more important: access to high-speed broadband (13 percent) and a home office/ study (10 percent); a number of health and wellness-related features such as outdoor space (10 percent), and wellness and wellbeing amenities (10 percent).

= 64 percent thinks that energy efficiency of a future home is either very important or important (30 percent).

= Nearly four in 10 local respondents prefer a greener home and are willing to pay more for it.

3) Changing Location Preferences

= Location features that have increased in importance: proximity to green space (17 percent), good air quality (17 percent), access to good healthcare (16 percent), and good views (12 percent)

= 45 percent of them expect to commute between one to three days to the office every week. 25 percent anticipate a full return to the five-day work week. Note that 50 percent of respondents are between the ages of 40 and 60 years old (decision-makers, company owners).