Investing in Property in Metro Manila
The Philippines has become one of the go-to places in Southeast Asia to invest in when it comes to real estate. This is thanks in part to favorable demographics, a strong and growing middle class, and a booming economy in spite of the pandemic.
This real estate growth did not happen overnight for Metro Manila. In fact, the rise in real estate value in Metro Manila has been steadily rising in the past decade, following the economic growth which occurred in the Philippines in 2010.
Pros and Cons of Investing in Real Estate in Metro Manila
Metro Manila is a thriving urban jungle, with every kind of restaurant, recreational activity, and shopping center at your disposal. Because all of Metro Manila, and even Greater Manila’s, cities are interconnected, it’s easy to travel from one city to another to experience the unique haunts, views, and experiences each locale has to offer.
Metro Manila has been a popular investment location for many businesses and corporations, both local and international alike. In the year 2017 alone, over 70,000 new office spaces were added to various Metro Manila business districts such as Ortigas, Makati, and Bonifacio Global City. With the massive influx of new jobs come the need for more housing.
Because of the influx of new investors and jobs in the city, many consider Manila property to be a prime investment. Developers all across the metro have been scrambling to build condominiums, the most economical and efficient way to use the limited space available in the capital, as quickly as possible while there is still land left. This resulted in an over-supply of condominium units, which is evidenced by the low vacancy rates (5% as of 2018).
But Manila’s popularity also serves to be its main curse. Because most of the jobs in the country are offered in the capital, it is very much densely populated. Cities choose to prioritize building high-rise buildings for condominiums and commercial developments rather than preserving nature. There are hardly any open spaces, greenery, or fresh air for citizens to enjoy these days.
Traffic has also made living almost unbearable for many citizens. In fact, a study done by the Boston Consulting Group has found that citizens in Manila spend 16 days a year stuck in traffic, costing them roughly P100,000 annually.
An Alternative to Buying Property in Manila
Many companies have seen the value in locations outside the metro. Areas such as Metro Cebu, Metro Davao, and Cavite have all become hotspots for foreign investors in the past 5 years. This is due to the lower labor costs, land value, and less densely populated area, making it a good fresh start for many businesses.
For those looking for an alternative to an investment in a house in Manila, Cavite is the place for you.
Located just south of the capital, Cavite is close enough to Metro Manila that it is still accessible via car. Residents living in Cavite but work in Manila can just take the 16KM drive back and forth each day via CAVITEX, SLEx, or PITX.
Numerous investors have also opened shop in Cavite, with business parks such as the Suntech iPark in Tanza, Cavite providing 17,000 new jobs for Cavitenos.
Cavite is the ideal location for those looking for a more laidback lifestyle – where they can enjoy the slower, provincial life but still have easy access to the glitz and glamour that Manila has to offer.
Step Inside Micara Estates – Tanza
Micara Estates – Tanza takes suburban living up one level. Located in the heart of Tanza, Cavite, it is surrounded by all the necessities, so our residents never have to venture far for the things they need. We also have our own commercial and retail establishments surrounding the Micara Plaza, so everything is conveniently within our gated community.
Because we want to provide our residents with high-quality living they wouldn’t otherwise find in Manila, we designed Micara Estates – Tanza to have lots of green, open spaces for families, especially those with children, to explore and play in. Residents can bike around the community, play basketball at our free court, or have picnics in our parks with the other residents while enjoying Cavite’s fresh air.
Now is the best time to invest in a home in Cavite while land prices are still affordable and research indicates that it will just go up in time. Micara Estates – Tanza offers homes at the pre-selling level, meaning you can purchase them at a lower rate than a ready for occupancy (RFO) unit. At Micara, we believe Micarapatan ang lahat sa affordable homes.
Whether you choose to purchase a home for yourself or as a future investment, Micara Estates – Tanza is the right choice for you.