Wazzup Pilipinas!
It goes without saying that 2015 is looking to be quite a good year for Philippine real estate. Although condo sales were not on par with what was recorded in 2012 (considered a banner year for Metro Manila’s condo market), other segments of the industry are posting stellar growth, particularly houses and office real estate. Lamudi Philippines (www.lamudi.com.ph) looked into its 2015 data and compiled a list of key observations that, hopefully, will guide the industry through years to come.
1. If you want a cheap
condo, look at Las Piñas
At a Php 49,849 per square meter, buying a condo in Las Piñas
is likely to be cheaper than anywhere else in the metro. At the opposite end of
the scale, Makati is the most expensive, with condos in the area costing an
average of Php139,012 per sqm. This means that a 60-sqm condo in Las Piñas will
set a buyer back Php2.99 million, while the same in Makati will cost Php8.34
million.
2. 59% of houses for
sale in Makati are worth more than Php100 million
It goes without saying that Makati is the Philippines’ priciest
city to buy any type of real estate. In fact, Lamudi data shows that 59 percent
of all listed properties in the city in the first quarter of 2015—most of them
in swanky neighborhoods and exclusive communities—have asking prices of more
than Php100 million.
3. Outside Metro Manila,
Cebu City tops the pricy list
In the Queen City of the South, half of all listed houses for
sale are priced Php8.5 million and up, making is the most expensive housing
market outside Metro Manila. In fact, some homes here are fetching as high as
Php150 million, rivaling opulent houses in Ayala Alabang and San Juan’s
Greenhills Village.
Ross is known as the Pambansang Blogger ng Pilipinas - An Information and Communication Technology (ICT) Professional by profession and a Social Media Evangelist by heart.
