Supported by key infrastructure projects, cities outside Metro Manila can help the real estate industry bounce back from the ills of the pandemic, according to commercial real estate services firm Cushman & Wakefield, as Business World reported.
The agency noted that the completion of infrastructure promotes the growth of property values in areas outside of major business districts in the country, such as Makati and Bonifacio Global City (BGC). Finished road projects facilitated better access between the north and south of Metro Manila.
Optimistic about the property recovery facilitated by areas outside the capital, Cushman & Wakefield noted how developers have been pouring investments on provinces, namely Pampanga, Laguna, Cebu, and Davao.
These provinces were among the most popular locations mentioned in Lamudi’s 2020 year-end report titled Hotspots Unwrapped: 2020’s Most Popular Locations. As developers set their sights on the provinces, property seekers have also been eyeing these destinations.
Luzon Hotspots
The Central and Southern Luzon provinces notably represented a huge share of demand among property seekers in the Lamudi platform last year. Angeles, Calamba, and San Fernando were included in the top 10 most popular provincial cities. These provinces are interestingly beneficiaries of big-ticket government infrastructure projects.
Calamba, for one, can enjoy better transportation and mobility with the future completion of the massive North-South Commuter Railway (NSCR), which connects the Southern province to key cities, including Tutuban in Manila, Clark in Pampanga, and Malolos in Bulacan.
In the latest report from GMA News Online, the proponent Megawide Construction Corp. will start construction in the second quarter of the year. They recently signed contracts for the supply of concrete materials, provision of temporary facilities, and the initial equipment supply.
Meanwhile, Angeles and San Fernando are projected to experience vibrant growth in tourism and business post-pandemic with the finished new passenger terminal building of Clark International Airport. It will start operations in July, as Business Mirror reported.
The new structure boosts the aviation hub’s capacity from 4.2 million passengers to 8 million annually. To reassure the safety of people, tourists, and investors planning to go to Pampanga region, common-use self-service kiosks (CUSS) and self-service bag drops, which reduce physical contact, will be introduced. The real estate industry is likely to bounce back faster as tourism and business activities resume in the province.
Vis-Min Hotspots
Similarly, Cebu and Davao were among the most sought-after residential destinations among property seekers. In Lamudi’s 2020 year-end report mentioned earlier, Cebu topped the list of most popular provincial real estate hotspots, followed by Davao. These areas will see developments soon as well.
In Cebu, the most anticipated projects include the Cebu-Cordova Link Expressway (CCLEX), connecting mainland Cebu and Mactan, the Metro Cebu Expressway, and the New Cebu International Container Port (NCICP) in Consolacion. The NCICP is set to start construction in the second half of 2021, according to Cebu Daily News.
In Davao, the Mindanao Railway is the biggest infrastructure project. It’s set to connect Davao provinces to key cities in the greater region, including Iligan, Cagayan de Oro, General Santos, and Zamboanga. The Department of Transportation (DOTr) vowed that the Tagum-Davao-Digos segment of the railway project will run partial operations before the current administration’s term ends next year, as Sunstar reported.
Online Housing Fair Offerings
Given the brewing interest in provincial locations, the first and biggest online housing fair in the country aptly features developments located outside the capital region. Some are situated close to Metro Manila, namely Batangas, Bulacan, Cavite, Laguna, Pampanga, and Rizal.
One of the developments featured is The Villages at Lipa by AboitizLand, a residential subdivision located in LIMA Estate, a mixed-use development in Lipa touted as The Next Big Thing in the South. Another Luzon project exhibited is Las Brisas at Tierra del Sol by Solar Resources Inc., a peaceful, quiet village located in Tanza, Cavite. The developer offers a P50,000-discount on down payment for property buyers.
Cebu properties are likewise featured in the virtual fair. Galleria Residences by RLC Residences is one of them, a three-tower condominium that sits in a strategic location in the city’s North Reclamation Area. The first branded residence in Cebu, Marco Polo Residences developed by Federal Land, is also among the projects included in the fair.
The online housing fair runs until the end of May, offering exclusive deals and discounts to property buyers.
Article and Photo originally posted by Lamudi last May 12, 2021.
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