Millennials Poised To Drive The Philippine Home Loan Market

Millennials Poised To Drive The Philippine Home Loan Market


More Than 124k Drivers, Operators Join Transport Cooperatives

A total 124,443 drivers and franchise owners and operators have joined accredited transport cooperatives ready for franchise consolidation.

Globe Recreates The Way You Learn With Special Promos

Globe introduces special Go promos for students and the GoTOK series to make quality learning and self-improvement accessible for everyone online and in real life!

Roma Point Bridge Construction In Full Swing With Republic Cement Support

Expected to be the longest bridge in Calabarzon, the Roma Point Bridge, also known as the Alabat Bridge, will be 1.7 kilometers long upon completion and will connect Alabat Island to mainland Quezon province.

Specialty Pulp Manufacturing Inc. Chooses 100% Clean Energy From EDC

Agriculture-based manufacturing company SPMI is now being powered by clean, renewable, reliable energy from EDC!

Millennials emerged as the fastest-growing generation to contribute to the growth of the home loan landscape in the country, according to PH’s first online mortgage brokering platform, Nook. As the platform disrupts the home loan process in the Philippines, millennials are seen to lead the industry as they express keen interest to invest in real estate properties.

The millennials or Generation Y are often lumped into somewhat narrow categories of traits and characteristics and are stigmatized for being self-absorbed and narcissistic according to a research article by Grubbs et al in 2019. While millennials are seen to prioritize other leisure activities, data shows that millennials, in fact, are generally good financial planners. Based on an article by Forbes in 2019, millennials are taking advantage of finding new alternative investments and securing stability to settle down for their future. The millennial generation is both captive to and captivated by growing their money over time, investing in various social and environmental causes.

In the US, millennials have also shown an increase in their home buying purchase power, assuming the largest chunk of shares for new home loans, according to

In the Philippines, as disposable incomes grow, more Filipinos aged 40 and below are purchasing property – a trend that industry observers correlate with the country’s strong economic fundamentals, and mirrors global trends.

According to the data gathered by Nook, almost 44% of loans from its platform are being acquired by millennials. Interestingly, 69% of those applicants are female and 65% are single.

“There is a strong interest in property among financially savvy millennials in the Philippines, a dynamic market that has shown a desire to save money on things like home loans to enjoy more of what life offers. Females, in particular, are keen on real estate, mirroring their investment aptitude and financial strength,” said Nook CEO Chris Elder.

“The average loan amount being reviewed by millennials using Nook is in fact, above P3 million, ” Elder added. Almost half of the applicants prefer house and lots while a third acquire condominiums, reflecting the diversity of preferences among buyers.

The preponderance of property options now available in the market has spurred strong interest among millennials. Over the past few years, the country’s largest developers have been offering a wide range of homes and condominiums across the country to fit various budgets and style preferences. The quick appreciation of property values has also been seen as a reason behind the strong uptake of real estate among millennials, who see themselves gaining not just a home, but an investment vehicle as well.

Recognizing that home buyers need assistance as they go through the loan application process in the Philippines, mortgage broker Nook launched its online platform that tech-savvy millennials have no trouble navigating. Nook enables users to do a loan comparison from many banks and experience a seamless loan application process online with the support of their loan consultants.

Mr. Elder notes that many prospective applicants, especially millennials taking out their first loans, are intimidated by the complicated loan application process. Moreover, they do not know what housing loan terms work best for their purposes and circumstances. Nook simplifies the entire process, by helping users to evaluate the most optimal loan terms to acquire their target properties.

Nook has partnered with the top banking institutions in the Philippines, providing home buyers a wide range of financing options to match their needs. A buyer can compare what each bank offers, making the decision-making process easier. Nook also provides a preview of the amount of monthly repayments they have to make, including fees and other requirements.

“We offer borrowers the one place in the Philippines to compare banks side-by-side to find the right home loan option for them. We then help them every step of the way to get their home loan approved,” said Mr. Elder

With Nook’s digital innovations, more Filipino millennials would be empowered to invest in real estate.

For more details and updates, visit Nook’s official website at

Zamboanga City Records 52 HIV Cases

The City Health Office of Zamboanga has recorded 52 HIV cases since January this year.

Lenovo Introduces The Legion Phone Duel In The Philippines

What makes the Lenovo Legion Phone Duel perfect for gaming? Let us give you the equipment that make up the promising smartphone!

Are Heart Evangelista And Kris Aquino Going To Be Part Of ‘Crazy Rich Asians 2’?

These real-life Crazy Rich Asians are rumored to appear in the sequel of the 2018 film. Do you think they would bring it?

San Carlos City Bans Non-Essential Travel

Negros Occidental indefinitely prohibits non-essential travel among its residents due to the rising cases of COVID-19.

Google’s Newest Feature ‘Hum To Search’ Lets You Find Songs Without Lyrics

Trying to describe a song based on its tune but don't know its title and lyrics? Google's Hum To Search feature has your back!

Kabankalan City Grants P10-M Fertilizer Aid To Rice Farmers

The City of Kabankalan in Negros Occidental has granted a PHP10-million fertilizer assistance to rice farmers to ensure food security in the southern locality.

Gatchalian To Online Platforms: Take A Hard Line Stance Vs. Merchants’ Deceptive

Mag-ingat po tayo sa ating mga binibili online.

This Country Club In Pampanga Will Give You That Well-Deserved (And Safe) Getaway

The Alveira Country Club might be your next great escape from the erratic Metro!

Duterte Assures Gov’t Will ‘Look For Money’ To Settle Red Cross Debt

“We’ll look for the money. Hindi naman marami but ang priority natin dito is really medical treatment, medical attention. Babayaran to in a short while, do not worry.”

106-Year-Old Baguio Resident Recovers From COVID-19

Good news! One of the oldest persons in the country, who was diagnosed with COVID-19, was discharged on Tuesday!