With home sales rising, Vista Land is now considering more new project launches before the end of the year. The company’s success in 2020 has been driven by a change in consumer habits with more buyers in the market for homes and larger spaces that accommodate the ‘new normal”.
“This pandemic has impacted our performance for the first half of 2020 and we still expect the rest of the year to be challenging. However, we are happy to see encouraging signs for both our residential and leasing businesses,” Vista Land Chairman Manuel B. Villar, Jr. told the Manila Bulletin.
Vista Land’s house and lots subsidiaries, including Crown Asia, have been well positioned to take advantage of changing consumer preferences brought on by the COVID-19 pandemic. The homebuilder has also noticed a trend when it comes to location with more buyers eyeing homes outside of Metro Manila.
See more: House and lots for sale from Crown Asia
This is something the firm is able to accommodate as well since it has a presence in 147 cities and municipalities in 49 provinces across the Philippines.
“We have witnessed that shift of customer preference to house and lot products in the provincial areas as evidenced by the increase in proportionate sales coming from our housing products outside Mega Manila compared to the same period last year,” Villar Jr. noted.
No decision has been made on when and where it will launch new projects this year with Vista Land still monitoring the situation. Should the firm act, it has a large land bank at its disposal.
“Our June sales are already at 70 percent of pre-COVID level with July and August sales tracking better than June. Thus, if this sales trajectory continues, we might decide to launch more projects in the fourth quarter,” said Vista Land President & CEO Manuel Paolo A. Villar explained to the news website.