Despite the turbulence pandemic has caused to businesses, real estate in the country remains stable and a safe option according to real estate industry forecasts this 2021. More and more developments and national infrastructure are set for completion.
According to industry experts, the property sector has “continuously displayed resilience over the last decade, posting record high-levels in take-up, supply, prices, and land values.”
Moreover, data reveals that even a pandemic cannot easily disrupt real estate property investment as the industry shows constant and lucrative returns, preserve wealth, and generate capital appreciation. No doubt, it is one of the best long-term investments for Filipinos from all over the country.
As the vaccination for COVID-19 continues and spreads to different parts of the country, people are now slowly going back to the business, attending to all inquiries, and attending to positive clients ready to invest.
Furthermore, Cushman and Wakefield, a global real estate services firm, reports that despite the slow economic recovery caused by the pandemic, business developments plus the resumption of national infrastructure projects this year will boost real estate activities from buyers and sellers.
Why Choose Manila?
Real estate investments can be anywhere. Whether you are from the Visayas, you can own a condominium or a house and lot in Cebu or Iloilo. On the other side, Mindanao is also a promising island and home to excellent property hubs like in Davao.
Meanwhile, there are many more apparent reasons why more and more people choose to invest in the metropolitan city of Manila.
REASONS WHY YOU MUST INVEST IN MANILA PROPERTIES
Manila is a Booming Metropolis
Undoubtedly, the city is at the center of commerce. Investors, especially homebuyers, have many options to choose from when it comes to property investment. Road networks and infrastructure development are also in the government’s limelight.
Infrastructure projects are also expected to generate many jobs that will indeed contribute to the increase in the city’s housing demand.
Endless Possibilities For Everyone, Especially Millennials
More and more millennials are moving into the city searching for a greener pasture and a more comfortable life accessible to almost everything they want and need. Younger generations love life in the city. They can easily reach shopping malls, restaurants, bars, entertainment centers, and better job opportunities.
Manila is a city master-planned by Daniel Burnham, an American urban planner responsible for the city plans of Baguio, Chicago, and downtown Washington D.C., And yes, the city offers myriad of possibilities to cater to the needs of each visitor or resident.
Centuries-old buildings in Intramuros are all great tourist attractions in Manila. People can also enjoy the wide array of shopping malls and markets like Seaside Wet Market, Divisoria, Greenfield, Banchetto Market, Baclaran, Quiapo, etc.
Indulge in a gastronomic feast in Binondo and fill your eyes with fantastic works of art at the National Museum.
What’s more enjoyable is the relaxing stroll at the parks or have a night cruise along the Bay. The city truly offers almost everything for everyone.
According to a survey, there will be a surge in Manila property. Moreover, their 2020 study found that some 88.3% of the 16,338 condominium units spread across 26 different active projects were sold at the height of the pandemic.
Roxas Boulevard appears to offer the most significant advantage in the mid-high property development segment, with only 314 units untaken.
Additionally, there’s a 27 percent year-on-year price growth. In 2010, land value was about P35,000 per sqm, but it ballooned to P450,000 per sqm. in 2020.
This makes about 200 percent capital appreciation per year, and rental yield soars around 7.5 to 9.3 percent.
A Brighter and Richer Future
Manila is also home to many “firsts” in the country. The very first university, water system, hotel, oceanarium, light station, lighthouse tower, stock exchange, flyover, zoo, pedestrian underpass and a rapid transit system, which was the first in Southeast Asia.
This economic vibrancy continues and still making great improvements, making the city as one of the most sought-after hubs for both local and foreign investments.
The Globalization and World Cities Research Network lists Manila as an “Alpha” global city, ranking it 7th in economic performance globally in 2018. Global advisory firm Tholons places it at 8th in the 2021 Top 100 Super Cities.