Second only to China, the Philippines is one of the fastest developing nations in Asia. For over a decade and in the next years to come, it has been and will be experiencing stellar economic growth. Due mostly to the burgeoning service industry, particularly the business process outsourcing (BPO) and information communication technology (ICT) sectors, the economic prosperity of the country has had an immensely positive effect on the real estate market.
It is not only the office and retail markets that have increased in demand. The residential sector has been growing as well. As an indirect result of the BPO and ICT industries’ expansion, as well as overseas remittances, the purchasing power of the people has increased. Topped off with low inflation, flexible financial options, and more affordable housing projects, Filipinos are now more than ever eager and capable to buy a place they can call home.
Although there is still a backlog in middle-income and low-cost housing amounting to an average of 58,000 units per annum, the residential real estate market remains buoyant. Government support on property investments and real estate developers are ensuring that supply keeps coming in. The balance between affordability and quality in accommodations will become the priority for the next coming years.
In spite of the recent trend toward either renting or condominium living, a house & lot for sale is still abundantly available all over the Philippines. From Metro Manila to
Metro Cebu to Metro Davao, the following are the most prominent private villages or gated communities:
These subdivisions set the norm when it comes to privacy, convenience, and comfort. Aside from 24/7 security, one cannot simply enter these villages. Your vehicle will either need a sticker that signifies you are a resident, or the guard-on-duty will call the resident you are visiting to verify whether to let you inside or not. As strict as this may seem, this does make these communities one of the safest in the country.
These villages also offer more than security. Each has at least one clubhouse, typically with a swimming pool where residents can hang out in or even rent for special occasions. There are also private parks, and even golf courses. These subdivisions are also centrally located and some are even close to top educational institutions and shopping malls making them practical locations as well.
This is why it comes as no surprise as to why houses in these areas are priced at a premium. In spite of hefty selling prices, they are still the most sought after and everyone dreams of living in these gated communities. Of course, there are more affordable versions of these villages all over the country. They may not have actors, diplomats, and politicians living in them, but they offer the same basic perks for the utmost in comfort and security. This is why owning and living in a house of your own in the Philippines is truly a dream come true.
Did you think that you only needed a Transfer Certificate of Title to finalize your property purchase? This will list the documents you need to carry out your transaction.
Which Metro Manila cities have the most expensive houses, and which cities have the most number of properties under Php10 million? We analyzed Lamudi price data, mined from its listings of over a 60,000 in 2016 and ranked Metro Manila’s key cities from the cheapest to the most expensive in terms of average house prices.
The Home Development Mutual Fund (HDMF) or more popularly known as the Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya, at Gobyerno Fund or the PAG-IBIG Fund is a fund dedicated to the creation and establishment of a national savings program and an affordable shelter financing scheme for Filipinos.