In 2018, the U.S. News published the Philippines as the “Best Country to Invest in Now” sending a veil of pride and excitement among businesses and investors who wish to capitalize on industrial, agricultural, and infrastructure components.
How timely it is for the country, that the current government is in all-out support for various infrastructure projects that ultimately aim to speed up transportation, connect more people to Metro Manila, create more jobs, and eventually produce more housing requirements to cater to the influx of population in the coming years.
Because more opportunities are rising, the best time for any aspiring homeowner or real estate investor to buy land, condo or property is now.
To illustrate, here are the following reasons why you should talk to a broker today.
1. Fast developments in Metro Manila Ultimately Lead to Property Appreciation
Everybody knows that real estate is the only asset we buy that guarantees appreciation over time because of the continued development of its nearby areas. We only need to mention the following big projects intended under President Duterte’s “Build. Build. Build.” program, which when accomplished will cause a projected significant increase in property value.
The Metro Manila Subway Project is a 30-kilometer underground railway that aims to link Mindanao Avenue in Quezon City to the Ninoy Aquino International Airport (NAIA). This improvement will develop a faster and easier route for people living in northern cities to travel to the south, and other countries.
The next development that is currently being built is DOTr’s MRT-7, which is a 22-kilometer, metro rail project that aims to link Quezon City to Bulacan. The one to 3-hour drive from North EDSA to Bulacan may now be cut to a shorter and more convenient time.
Last year, real estate tycoon Kevin Tan, son of Megaworld Chairman Andrew Tan, boldly announced its bid to create a 2km Skytrain monorail that aims to shuttle about 100,000 employees from EDSA Guadalupe station to the booming Bonifacio Global City.
Other developments include the Makati Subway, which is intended to link to NAIA, the improvement of the Southwest Integrated Transport Terminal, and the improvement of tollways such as that of the Southeast Metro Manila Expressway
The improvement of these transportation projects could prompt many developers to build more transit-oriented developments that aim to link condominiums directly to train stations as the current trend displays.
To add to this urgency, it is also important to note that Colliers Philippines have reported a low vacancy rate in residential developments in the Bay Area and BGC during the last two quarters of 2018, which means that demands have remained high.
With this rate, developers can offer homes at an increased price. Buy property at a time of development, and you will see the fruits of your investment rise upon its completion.
2. More Jobs Have Opened and Demand for Homes Near the Workplace Have Increased.
Because of the competitive nature of Metro Manila today, more companies have been expanding their offices, and more businesses are hiring a workforce to complete the demands of vital projects.
The Department of Labor and Employment (DOLE) has significantly reported that the administration’s “Build. Build. Build.” project has created about 600,000 jobs since the 2nd quarter of 2018 with the bulk of employment coming from real estate and infrastructure construction.
Because of this significant increase, investing in residential developments that are nearby the Central Business Districts (CBDs) has become one of the most important reasons for securing a home today.
The requirement for money and wealth could best be formed where the opportunity is. And if there is a way for you to get closer to the workplace or to business, such as strategically owning a home nearby, then it’s best to grab the opportunity while it’s hot.
3. Real Estate Investment Supports Your Current Lifestyle
Whether you are an investor, a student, a parent, or a young professional, the benefits of owning a home that is closer to everything you need in the city is something that cannot be denied
It is imperative for millennials and young adults to consider living within a community that promises faster and more convenient proximity to everything that a city dweller needs – convenience stores, malls, offices, leisure hubs, the airport, transit options, and other neat and exciting stuff has always been “just around the corner” when you choose a great home at strategic locations.
Even for people who plan on retiring, there are still home options that will suit you best. Some condominium developers today have taken great pride and given meticulous attention to the sustainability component of every development that creates more open spaces and as importantly, brings nature right within the city.
This type of design fosters better health and a more relaxed ambiance that blocks unwanted noise and city features. Your current needs and lifestyle are some other reasons why you should consider investing in real estate today.
Should you be interested in selling, leasing, or buying a property, contact us.