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Despite the many challenges faced by developing countries, the Philippines continues to enjoy a positive economic outlook. It remains one of the top investment locations in Southeast Asia, evident in the steady rise of the asking price for a commercial space for rent in Metro Manila. Several international consultancy firms have estimated that commercial property rates in the national capital rose to 1.6 percent in the third quarter of 2014. That is roughly PhP 781 per square meter.
Despite the increased rates, leasing activity across the different business districts remains aggressive, fueled by healthy demand from business process outsourcing and information technology firms and other local and international companies from other industries. The high demand for an office space for rent keeps the rental business thriving, especially in business districts and metro areas. The Philippines is a top choice to invest in or establish operations in, with the country’s economic potential not set to stagnate any time soon.
If you are searching for a space for rent or an office for rent, you might want to look in some of the Philippines’ most renowned business districts, such as:
The most popular location for renting commercial spaces is in Metro Manila and in other metropolitan areas. In Makati and Taguig, rental costs for occupying commercial spaces range from PhP 25,000 to PhP 500,000, depending on the property type and size. In Metro Cebu, the commercial space for rent starts at PhP 10,000 to PhP 450,000.
Monthly fees for an office for rent in provinces near Metro Manila, such as Laguna and Cavite, range from PhP 10,000 to PhP 424,000. More and more developments have risen in these areas, resulting in an increased availability when it comes to commercial space for rent.
Areas like Makati, Taguig, and Quezon City are ideal places to buy commercial properties in the Philippines. However, given the high cost of living in these areas, commercial space for rent may be a better alternative for most people. Other possibilities for setting up shop have emerged with the development of mixed-use complexes like the Rockwell Business Center on the outskirts of Ortigas and Eastwood City. Be it for industrial, retail, or warehousing purposes, a business space for rent can be easily found - even for as little as PhP 1000 per month.
The Philippines, particularly Metro Manila, is one of Asia's top real estate markets. The country, however, is more than its capital. There are numerous additional locations that are developed sufficiently to support business operations. Furthermore, because these areas are less saturated, the market potential is higher. Examples of such profitable locations include Cebu, Davao, Bacolod, Iloilo, and Baguio.
While Metro Manila is the most popular choice for most when it comes to business operations, the country has more to offer when looking for a commercial space for rent. Metro Cebu, the economic center in the Visayas, is just as highly urbanized and highly profitable. Cebu City, in particular, rivals many of the cities in the capital region in terms of infrastructure and modern amenities. It also happens to be the main domestic shipping port of the Philippines, making it quite suitable and convenient for many transportation operations.
If being in or near the capital is an absolute necessity, investors and property seekers may also opt for what is considered the Greater Manila Area. These are neighboring provinces like Laguna and Cavite, which have been developing at a rapid pace due to their proximity to the capital.
