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Jan 22, 2017

Ten Philippine Cities to watch this 2017

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.

1. Cebu City

Ranked seventh by strategic advisory firm Tholons among best outsourcing destinations in the world due to the quality of workforce and tertiary education; relatively cheaper business cost; infrastructure network; and quality of life, Cebu is also a city to watch thanks to its considerable proximity to several of the Philippine’s best tropical destinations and affordable secondary cities.

It ranked sixth most competitive based on the National Competitiveness Council’s (NCC) survey, which measures local government units desirability based on economic dynamism, government efficiency, and infrastructure. Cebu City’s property listings on Lamudi for 2016 averaged 2,900 per month, only behind Makati (5,680), Quezon City (5,560), and Taguig (3,400). Upcoming real estate projects likes Solinea and Gatewalk Central (both by Ayala Land) and Cebu Exchange (Arthaland) are likely to boost inventory in the future.

2. Las Piñas

While Metro Manila’s current real estate market seemingly favors condo-seekers the most, Las Piñas remains a good option for buyers in search of houses. The city’s inventory of houses in 2016 averaged 680 per month, the third highest number in Metro Manila after Quezon City (2,800) and Makati (930), and the average price of two-bedroom houses in the city was Php2.8 million, compared to Php3.68 million in Quezon City.

While the city stands out among most of its Metro Manila neighbors in terms of availability of mid-priced residences, property values in Las Piñas may soon catch up as a result of major developments taking place in the city. Projects in Las Piñas include Alabang West, a mixed-use development by Megaworld featuring a Beverly Hills-themed lifestyle concept, and a yet-to-be-named 3.4-hectare property owned and being developed by 8990 Holdings Inc.

3. Iloilo City

While not as gaudy in name as Cebu or Manila, Iloilo City has grown to rival the two in overall livability. A regional center for academic excellence, it is home to about 30 colleges and universities that produce an estimated 15,000 graduates each year. Its well-educated workforce has contributed in the city jumping four spots to 91 in Tholons’ survey of best outsourcing destinations in the world.

According to real estate services firm Colliers International, this is driving demand for office space and worker accommodations, while the increase of workers’ disposable incomes, combined with the influx of tourists, continue to attract major retailers. Seemingly in time for property investors are the rise of several developments in Iloilo, led by the continued expansion of Megaworld’s Iloilo Business Park, and the initial establishment of Ayala Land’s Atria Park District.

4. Cagayan de Oro

Real estate pundits are seemingly in agreement that apart from supply and demand, property developers are now looking at local assets, such as tourism, as another facet to consider in expansion. This may be most evident in Cagayan de Oro, a city well known for its natural and historical attractions, now in being the midst of several development launches and project turnovers. Lamudi saw residential listings in CDO lessen toward the end of 2016, indicative of the increased occupancy in the city.

According to local business monitor CDODev, key commercial projects scheduled to open in 2017 are the SM CDO Downtown Premier, which will be the second SM mall in CDO, the Seven Seas Waterpark and Resort, and a CityMall in Bulua. The Bonbon area will see a new community fish port scheduled to open later in the year, while the city proper will see the continued progress of projects like Avida’s Aspire Tower, Camella’s The Loop at Limketkai, and Cebu Landmasters’ MesaVerte Residences.

5. Bacolod City

A constant in surveys naming the best places to live in the Philippines, Bacolod is becoming additionally notable for a growing business process outsourcing (BPO) and knowledge processing outsourcing (KPO) industries, which continue to attract businesses to the city. The IT Council and the Bacolod City Government predict the industry’s current 24,000 full-time outsourcing employees to rise to 60,000 by 2022.

This has played a hand in local retail and residential growth, evidenced by upcoming developments such as Capitol Central by Ayala Land, Northill Town Center and Upper East Township by Megaworld, and CityMall Goldenfield by DoubleDragon. If looking for investment properties, Colliers recommends worker accommodations such as studio and one-bedroom apartments. Availability for these is presently limited, as evidenced by the number of modest listings for such spaces on Lamudi 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.


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