Why Millennials and Gen Z are looking beyond the rental market

Insider Spotlight

• Studio N is ready for occupancy in Northgate Cyberzone within Filinvest City, positioning the development as an alternative to pre-selling projects that require buyers to wait years for turnover
• Monthly amortizations start at around P15,000, according to the material, as Filinvest pitches financing as a way for younger professionals to enter the property market
• Location is central to the proposition, with Studio N near offices, retail and essential services in Filinvest City’s live-work-play environment
  
  
  
  

Millennials and older Gen Z professionals accustomed to renting are being encouraged to reconsider homeownership as incomes stabilize and longer-term financial priorities take shape.

The argument is straightforward: while rent pays for temporary use of a home, mortgage payments can gradually build equity in an asset. Bank financing can also spread the cost of purchasing property over time instead of requiring buyers to pay the full price upfront.

Entry point for property ownership

Filinvest is positioning Studio N as an entry point for younger buyers seeking property ownership in an established business district. The ready-for-occupancy condominium sits in Northgate Cyberzone, a Peza-accredited business hub within Filinvest City.

The development is within walking distance of destinations including Northgate Cyberzone IT Park, Axis Plaza Garden, Festival Mall, Westgate Center and South Supermarket. Filinvest City promotes a 15-minute lifestyle where workplaces, leisure destinations and essential services are within easy reach.

Ready-for-occupancy

Studio N is described as the last studio condominium project within Filinvest City. Its ready-for-occupancy status means buyers can move into their units sooner than with pre-selling developments and potentially explore leasing them later.

Units are semi-furnished and include smart front-door access, a bunk bed with mattresses, kitchen cabinets and closets, a study table and bathroom fixtures. Monthly amortizations start at around P15,000, according to the material.

Compelling, accessible CBD

"Many young professionals continue to see homeownership as a distant goal, when in reality it is more attainable than they think," Filinvest senior vice president for Residentials and Estates Daphne Sanchez said in a press statement.

“As part of Filinvest City, Studio N offers an entry point to property ownership within a masterplanned CBD that is both compelling and accessible. Combined with bank financing options, it gives Millennials and Gen Z professionals a practical way to start building long-term value sooner rather than later," Sanchez added.

A tangible asset

For younger professionals, the rent-versus-buy calculation ultimately extends beyond monthly expenses. Ownership can build equity and provide a tangible asset, while renting preserves flexibility without creating property ownership. —Vanessa Hidalgo | Ed: Corrie S. Narisma