Paris Hilton adds another real estate venture on Luzon island, plus more
Paris Hilton adds another real estate venture on Luzon island, plus more
Land prices on Luzon’s emerging urban locations are expected to shoot up
In the Last Part of this five-part series, take a look at the emerging real estate industry on Luzon island
The town and cities nearest to Metro Manila on the island of Luzon are the frontrunners in the country’s real estate expansion.
According to Jacqueline van den Ende, founder and managing director of Lamudi.com.ph, the areas to keep a close eye on are highly urbanised cities and municipalities in Cavite, Laguna and Pampanga provinces.
“Property developers have launched several mixed-use projects in these emerging locations, most notably Ayala Land’s 700-hectare Vermosa township along Daang Hari Road in Imus and Dasmariñas,” she says.
“Land prices in the area are expected to increase further over the next few years, when construction of infrastructure projects, such as the Laguna Lakeshore Expressway and Dike project and the Cavite-Laguna Expressway, are completed.”
In Pampanga, Century Properties Group has teamed up once again with celebrity socialite Paris Hilton for a branded development in San Fernando. Meanwhile, a joint venture between Filinvest Land and the Bases Conversion and Development Authority modelled on the successful Bonifacio Global City is being negotiated in the Clark Green City area.
As interconnectivity between Luzon’s business centres and Metro Manila improves over the next decade, it can be assumed that the local real estate market will continue to expand on the Philippines’s largest island.
Things to consider when investing on Luzon island…
Pros: Close to Metro Manila and two international airports: NAIA and Clark; more lucrative job opportunities; strong support from local government units
Cons: Prone to natural disasters such as earthquakes and typhoons; overpopulation
What to buy for…
Affordable: Amore @ Portofino
Developer: Brittany Corporation (Vista Land Group)
Units: 519
Size: 300 sqm (avg.)
Price: PHP8 million (USD171,000) to 10 million (USD213,200)
Completion: 2016
Distinguishing features: Part of the sprawling Vista City “communicity” in the south of Metro Manila, Amore @ Portofino is easily accessible by SLEX tollway for those who regularly travel in and out of the capital
Mid-end: The Courtlands Vermosa
Developer: Ayala Land Premier
Lots: 431
Lot size range: 470-1,947 sqm
Price: PHP36,535 (USD779) per sqm
Completion: Ongoing
Distinguishing features: A new CBD in Dasmariñas City, Cavite, Vermosa will have its own sports and lifestyle complex, an Olympic-sized pool, 400m track field, and even a sports science laboratory. It will also feature a 10,000 sqm retail centre with a healthy mix of sports and lifestyle stores
High-end: Botanika Nature Residences
Developer: Filinvest Alabang Inc
Units: 369 across three towers
Size: 123-343 sqm (avg.)
Price: PHP23.51m (USD501,600) (avg.)
Completion: 2016 (Phase One)
Distinguishing features: Designed by renowned Filipino architectural firm Leandro V. Locsin Partners, Botanika Nature Residences is a pilot residential development of the BERDE certification system, located just outside the primary business districts of Metro Manila
Source: Property Report