There is more to the Philippines than the typically well-known Metro Manila cities, and in 2017, it will be more evident in the continued development of these cities to watch, compiled by Lamudi Philippines
With sustained progress in the real estate industry backed by an overall economy that various financial institutions predict to grow between 6 to almost 7 percent in 2017, many places in the Philippines are becoming increasingly ideal to live and/or invest in.
Whichever reason to move: a fresh start, exploring new career and business opportunities, or a growing a family, ten of these places in the country, compiled by global real estate website Lamudi Philippines, stand out, and are worth your consideration for this year, and even beyond.
6. Lapu-Lapu City
Secondary cities continue to be in demand due to their proximity to capital or major cities while remaining relatively more affordable. In the Visayas, one such place is Lapu-Lapu City, a popular alternative to costlier Cebu City. In 2016, two-bedroom houses for sale in Lapu-Lapu City listed on Lamudi averaged Php2.295 million.
While having always had tourist opportunities due to the presence of the Mactan-Cebu International Airport and its different natural and historical attractions, local real estate stock in Lapu-Lapu looks to also increase soon, with projects like Megaworld’s Mactan Newtown, Sta. Lucia’s Arterra Bayfront Residences, and Futura Homes – Mactan by Filinvest Land. The Philippine Reclamation Authority is also set to start its Mactan North Reclamation and Development project.
7. Mandaue City
There may be no better alternative for accommodations and real estate to Cebu City than Mandaue City. The latter is located at the former’s immediate northeast, and is the ideal location for home-seekers that want to invest on a home near the Visayas capital as opposed to renting a more expensive house in Cebu City itself. On Lamudi, two-bedroom houses for sale in Mandaue average Php2.631 million.
New developments continues to enter the city, as homegrown developer Iron Wood Property Ventures topped off its Northstar condominium project at the end of 2016, while firms like PrimaryHomes, Inc. have gone on record to say they are exploring Mandaue as a location for future projects. Echoing the sentiment, Colliers said it expects condominiums in the affordable segment to rise in the city.
With declining developable land and increasing property costs in Metro Manila, neighboring CALABARZON continues to see an increase in real estate demand, particularly from buyers foregoing starter homes for long-term properties. Seemingly one of the most viable areas in the region is Dasmariñas which, based on Lamudi’s listings data, has some of the most affordable average prices for houses for sale among CALABARZON and Metro Manila cities in 2016.
At Php2.1 million, houses with two bedrooms or more remain reasonably priced in Dasmariñas. It seems the city also offers the most options, averaging the most listings (415 per month) for multiple-bedroom homes for sale in CALABARZON. This stock will likely be furthered via upcoming projects like Sta. Lucia’s Mesilo, 150-hectare first class development, and Alveo Land’s Ardia, a prime residential subdivision set between Dasmarinas and Imus.
9. General Trias
While Dasmariñas can be deemed the option in CALABARZON for mid-priced and mid-sized residences, General Trias is seemingly the place for more modest properties. This Cavite municipality has one of the lowest average selling prices for smaller houses (at most two bedrooms) at Php833,992. Based on 2016 Lamudi data, General Trias on average has 70 such properties—two bedrooms or smaller—listed on the website in a given month.
General Trias has become a go-to location for developers and their innovative takes on affordable housing, with developers like BellaVita (an Ayala Land subsidiary) and Suntrust Properties (a subsidiary of Megaworld Corp.) having established such projects in the city. General Trias is not limited to the affordable housing market, however, as diverse projects like the 140-hectare Maple Grove, the 21st township project by Megaworld, will also soon be established in the city.
10. Davao City
Seemingly a result of the elections win of now-President Rodrigo Duterte, whom the Davao City Investment Promotions Center deems the “the perfect marketing ambassador for the city’s investment and tourism potentials,” Davao City has seen a surge of investments come from local and international parties. The Board of Investments (BOI)–Southern Mindanao affirmed this, reporting Php2.5 billion total BOI applications approved and registered from January to October of 2016 were poured into the city.
While increased awareness comes increased interest in Davao that will likely result in more investments in 2017, prices for homes for sale in the city for now have remained favorable, with two-bedroom houses listed on Lamudi for an average of around Php2.5 million in 2016.
Lamudi is a leading global property portal focusing exclusively on emerging markets. It offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online. Lamudi was established in 2013 in Berlin, Germany and it is currently available in Latin America (Mexico, Colombia and Peru), Asia (Philippines, Bangladesh, Indonesia, Myanmar, Pakistan, Sri Lanka) and Middle East (Jordan, Qatar, Saudi Arabia, United Arab Emirates). Within fewer than three years, Lamudi has established its presence as a key online real estate marketplace in the countries where it is operating. For more information, visit Lamudi Philippines on Facebook, Twitter, Google+, LinkedIn, and Instagram.
Established in September 2010, MyProperty.ph is one of the leading Philippine real estate online and print brand that brings property buyers and sellers together. The website’s main offerings are listings of pre-selling properties and properties for sale and for rent. Both website and magazine also provide relevant and updated industry news and information for its clients and consumers. And with the release of its mobile version, finding or selling a home is made even easier. For more information, visit MyProperty on Facebook, Twitter, Google+, and Instagram.