SM Leisure Resort Residences is leaning on the resilience of its established leisure estates, Tagaytay Highlands and Hamilo Coast, as buyers continue to take a long-term view of vacation and second-home properties despite softer conditions in the broader real estate market.
Patrick Joseph A. Villano, vice president and head of operations at SM Leisure Resort Residences, said both estates continue to see steady demand, limited cancellations, and buyers focused mainly on personal use and long-term ownership.
“The market remains to be resilient for leisure. Take-up is still good, and cancellations are limited,” Villano said, noting that cancellations are even lower than last year.
The steady demand is allowing the company to concentrate on developing its two master-planned communities rather than rushing to launch new projects simply to maintain a pipeline.
“Our plan was really to focus and devote more time to developing our two master plan communities and leisure estates,” Villano said.
Tagaytay Highlands, established more than 30 years ago, continues to position itself as a mountain resort community, while Hamilo Coast is being developed as a seaside leisure destination.
Their established communities, amenities, and track record also help support demand. Many buyers are repeat customers, while others are drawn by the privacy, scarcity, and lifestyle offered by leisure properties.
Villano said most purchases are intended as vacation homes, retirement residences, or weekend homes. Long-term ownership and eventual transfer to the next generation are also shaping buying decisions, giving leisure properties a different demand profile from purely investment-driven real estate.
That distinction is helping the estates weather a softer property market. Buyers appear more willing to hold their ground when the purchase is tied to actual use, family plans, or a long-term lifestyle decision rather than short-term gains.
Meanwhile, Highlands Prime Inc., a subsidiary of SM Prime Holdings Inc., has completed Horizon Terraces, the final phase of the Horizon development at Tagaytay Highlands. The project is ready for move-in and is nearly 90 percent sold.
The 3.2-hectare enclave sits 240 meters above sea level and offers views of the Tagaytay Midlands Golf Course, Taal Lake, and Mt. Makiling. More than 70 percent of the development is devoted to landscaped gardens and open spaces.
Its Garden Villas and Garden Suites are designed for primary residences, retirement retreats, and second homes, reinforcing the appeal of leisure properties as lifestyle assets meant to be enjoyed now and passed on later.
