Over the past few years, home seekers, and investors have turned to real estate as a safe haven for their future and wealth. Given the country’s low costs, high rental yields, and strong appreciation potential, it’s arguably best to invest in property. Buying a condo in Manila is a great way to get started.
Manila is densely populated and filled with historical sites, but condominiums are few and far between. In Manila, you can find any type of condo imaginable, which varies in size and price. Whether you are looking for a small studio unit to a 3-bedroom unit, you can probably find it here.
While Manila properties are inexpensive now compared to properties located in city centers like Makati City and Bonifacio Global City in Taguig, prices are rapidly increasing making for a great investment.
Condominiums in Manila are seen as an attractive investment option due to several factors.
Convenience and Mobility
Condominium developments in Manila are strategically located near public transportation hubs, schools, and key establishments, making it very convenient for city dwellers to go to where they need to be.
They also provide a refreshing urban living environment where everything you need is either in front of your doorstep, or just a stone’s throw away. From workplaces, malls, fitness centers, restaurants, and cafes to schools, hospitals, and parks, everything is made conveniently near the condo development to save your precious time, money for transportation, and even spare you from the stress of daily commute, and traffic.
Comfort and Access to Multiple Amenities
Millennials, or today’s young professionals play a different set of rules and expectations, which is also evident in the context of housing. They choose short commutes, walkability, and easy access to amenities. Cost-efficiency and comfort are what defines their housing choices, and what makes them prefer condos over other property types.
Millennials are the busiest generation out there. With so many opportunities and challenges around, most of them would prefer to live in a place where they have access to anything they might need at any moment they might want it. They prefer to live and invest in a second home in Manila where they have easy access to facilities and amenities without having to leave their abode.
The property sector is among the major beneficiaries of the government’s “Build, Build, Build” program which aims to reduce traffic and congestion in Manila.
One of the key infrastructure projects currently underway is LRT-1 Cavite Extension which is foreseen to cut the travel time from Cavite to Manila, and vice versa from 1 hour and 10 minutes to only 25 minutes, making it easier, and more convenient to go in and out of the metro.
Over the long term, these infrastructure projects would drive improved connectivity, and mobility that will surely boost property attractiveness, and propel property values.
The Rise of the Entertainment City
The Entertainment City is seen to become the next major central business district in Metro Manila, and replicate the success of Bonifacio Global City where demand for real estate properties has gone up significantly.
Demand for residential properties continues to spike up in the said area which is mainly driven by foreign expats who have moved to the Philippines to work in the Entertainment City which is touted to become the country’s next best bet for tourism, and gaming.
It is also said that apart from casinos, and hotels, business process outsourcing (BPO) buildings, and international schools have been sprouting in Manila to take advantage of the real estate boom being generated by Entertainment City. This can be seen as a good opportunity for rental income business, and property investment due to projected value appreciation.
Rising rental rates
Expectedly, residential units being rented, or leased out in Manila can generate among the highest yields compared to other locations. This is, of course, good news for those who have invested, and are leasing out their residential units in the city.
Choosing a condo in strategic location, characterized by its proximity to businesses, establishments, key institutions, and other modern conveniences will always be your best bet to securing a wise, practical investment. Vista Residences has ready for occupancy, and pre-selling condominium projects conveniently located in Manila that are an ideal investment option to consider.