Tuesday, December 22, 2015
Seven Metro Manila Neighborhoods To Watch In 2016
The Philippine economy’s continued rise is apparent in the real estate front, notably as evidenced by the condo projects, commercial centers, and office buildings that are being built one after the other in the Metro Manila area. While the business center of Makati and the always investment-worthy Bonifacio Global City will constantly remain hot commodities for both investors and end-users, there are a few areas within the metro that are looking just as promising in terms of offering real estate opportunities in the coming year. MyProperty.ph names the seven neighborhoods in Metro Manila that are sure to be on the list of those who are planning to move to a new home or considering buying a property as an investment in 2016.
It’s hard to believe that Alabang was once just a farming district as it has one of the most thriving commercial centers in the metro, with the construction of Filinvest City and Alabang Commercial Center. An ideal place for young professionals, Alabang is close to the offices located at Madrigal Business Park and Filinvest City, while up-and-coming townships such as Alabang West and South Park District will establish the area as a legitimate real estate hotspot.
Bay City, Pasay
SM Mall of Asia got the real estate ball rolling in this area, shared by the cities of Pasay and Parañaque, when it began operating in 2006, awakening a previously unnoticed part of the city and causing the rise of numerous condominiums. With all this activity, another recreational center soon rose to cater to visitors with a more grown-up idea of fun: the Entertainment City, which houses the City of Dreams Manila and Solaire Resort and Casino (and two more integrated resorts will open until 2018). It also didn’t hurt that Bay City is close to the Ninoy Aquino International Airport, and is therefore a frequent favorite stop of OFWs and first-timers to the country alike.
BF Homes, Parañaque
Over the years, BF Homes had grown from being a largely residential area to a thriving gastronomic hub, attracting foodies from all over the metro with the varied restaurants lined up along Aguirre Avenue. But primarily a residential area, BF Homes caters largely to upper middle-class Filipino families, and also has a large population of expatriates from South Korea. One of the most expensive houses for sale in BF Homes is a seven-bedroom house sitting on a 1,108-sqm corner lot. On the other hand, if you have Php3.8 million to spare, you can use it to purchase a three-bedroom townhouse.
The proximity of Kapitolyo to Ortigas Center makes this neighborhood a magnet for both yuppies and starter families. Kapitolyo is currently home to several restaurants that have popped up over the past couple of years, all of them ranging from street-style grub to fine dining, Asian to European, and affordable to costly. But aside from being a center for foodies armed with cameras and discerning palates, Kapitolyo is also seeing major growth in the real estate category, being close to several up-and-coming real estate projects, such as Alveo’s Portico and Ortigas & Co.’s Capitol Commons. It is also a short drive away from Bonifacio Global City. Townhouses in Kapitolyo are usually priced between Php11 and Php15 million.
New Manila, Quezon City
New Manila traces its roots back to the Second World War as the retreat for rich families who wanted to get away from the hustle and bustle of Manila (the area is actually named as such because it lies in the southwestern portion of Quezon City, which is next to the capital). Currently, the area is perfect for families for its proximity to schools such as St. Joseph’s College, St. Paul University, and Xavier School. Points of interest include Robinsons Magnolia and Greenhills Shopping Center. A family looking to move into a townhouse in New Manila is looking at properties as low as Php5 million to as expensive as Php26 million.
After the Makati Business District, Poblacion would be the city’s most significant neighborhood, housing several commercial centers, various businesses, government offices, and even a historical area. Poblacion is home to the busy and affluent Rockwell Center and Century City, both of which contain residential, retail, and commercial elements. Makati’s City Hall Complex and Heritage District can also be found in this area of the city. A small family looking can purchase a 163 sqm two-bedroom unit in one of Poblacion’s most affluent condominiums for Php55 million, while a single professional can live comfortably in a 33-sqm studio unit for Php2.2 million.
Sikatuna Village, Quezon City
What Filipino at this day and age hasn’t visited or at least heard of the foodie nirvana that is Maginhawa Street? Don’t be mistaken though; the famous road is not the only thing that makes Sikatuna an ideal place for families looking for a new start. The village is also close to some of the top schools of the country, including the University of the Philippines and Ateneo De Manila University. Prestigious hospitals like the Lung Center of the Philippines, Philippine Heart Center, and National Kidney and Transplant Institute are also minutes away, as are the bike and jogging trails of the Quezon City Memorial. One 14-bedroom house in Sikatuna is listed at Php45 million, but you can buy a brand-new three-bedroom townhouse for Php8.9 million.