Horizontal projects in the real estate industry started to proliferate the fringes of Metro Manila’s key cities due to the ongoing residential demands and the cheaper lands. Major developers eye Cavite as one of the provinces outside the metro that has a promising hold for new residential spaces. Though experts see a slower progression due to the lack of skilled construction workers and the passage delay in the national budget for this year.
Ease in Transportation and Close Proximity to Metro Manila
Cavite is bounded by Metro Manila to the north, Laguna to the east, and Batangas to the south. There are currently 3 major highways that traverse the province and these are Aguinaldo Highway, which includes the Tagaytay-Nasugbu Highway; the Antero Soriano Highway; and the Governor’s Drive.
The Cavite Expressway (CAVITEx) lessened the traffic volume in Bacoor’s Aguinaldo Highway from Baclaran and Pasay. Another transportation development in Cavite that greatly reduced the travel time from Cavite to Las Pinas and Muntinlupa is the Muntinlupa-Cavite Expressway (MCX). There is one expressway that is currently under construction, the Cavite-Laguna Expressway (CALAEx). It will connect CAVITEx to SLEx and is expected to ease the traffic congestion in the Laguna-Cavite areas, especially in Santa Rosa-Tagaytay Road, Governor’s Drive, and Aguinaldo Highway.
Another proposed expressway project is the Cavite-Tagaytay-Batangas Expressway, which will connect CALAEx from Silang, Cavite going to Nasugbu, Batangas. Once completed, this will be an alternate route for tourists who will travel to Tagaytay and Nasugbu.
Progressive Economic, Industrial, and Commercial Profile
There are 12 economic zones in Cavite and PEC Industrial Park is the largest of them located in Gen. Trias. It is an economic zone occupying 177 hectares solely intended for semiconductors, garments, pharmaceuticals, textiles, and food processing. The tourism industry is also one of the financial resources of Cavite spearheaded by the province’s main tourist hub, Tagaytay. Corregidor Island, Sangley Point, General Trias, and Aguinaldo Shrine, are just among the historical sites that have attracted a consistent number of tourists throughout the year.
More Land Development Opportunities
Dubbed as the second smallest province in the Calabarzon region, it has 4 physiographic divisions, which are the lowest lowland area, the lowland area, the central hilly area, and the upland mountainous area. For the land resources, the province has disposable and alienable lands and forest lands. The former refers to the portion of Cavite’s land area reserved for economic, urban, and demographic developments. The latter, on the one hand, maintains the ecological balance in the province to preserve the flora and fauna.
Cavite will remain to be predominantly agricultural despite the urbanization and industrialization growth. A majority of the Cavitenos are still engaged in agribusinesses as shown by the data provided by the Office of the Provincial Agriculturist, which indicates about 70,466 hectares of the total land area being utilized for agricultural use. Experts see all of these as lucrative opportunities for investors to pursue business ventures in the province. In the coming years, Cavite is one of the prime provinces in the outskirts of Metro Manila expected to become the next economic powerhouse offering more housing options. This is in favor of those who work in central business districts but prefer to reside outside the hustle and bustle of the crowded metro.
A Spike in Residential Statistics and Urban Development
A report by the Philippine Statistics Authority in the 2007 Census of Population and Housing cited about 611,450 housing units occupied in Cavite. The Housing and Land-use regulatory Board also listed approximately 1,224 housing subdivisions with issued selling licenses. These projects occupy a portion of Cavite’s land area measuring up to 9,471 hectares. According to the 2015 census, the province also has a total population of 3,678,301. About 90.69 percent of this population resides in the urban areas, which tagged Cavite as a highly-urbanized province.
The major townships already established in Cavite are Lancaster New City, Vista City, Twin Lakes Tagaytay, Vermosa, Eagle Ridge Golf & Residential Estates, Southwoods City, Camella Tanza, Suntrust Ecotown, Evo City, South Forbes City, Golden Horizon, Antel Grand, Maple Grove, RCD Royale Home, and Sabella Villa. Key land developers who have prior and ongoing developments in the province are Vista Land, Megaworld, Ayala Land, Cathay Land, Antel Holdings, RCD Land Inc., MyCitiHomes, and ProFriends.
According to the data provided by Lamudi, Cavite is the most searched residential property in Southern Luzon between 2017 and 2018. Among the listed property seekers are aged 25 and 34 years old comprised mostly of women from Quezon City and Makati. Bacoor, meanwhile, ranks first among Cavite-based property seekers. Most of these property searches concentrated heavily on houses for sale than properties for rent.
The top 3 locations in Cavite that frequently appears in the property searches are Dasmarinas, Bacoor, and Tagaytay. It can be noted that the average price listing for a 126-square-meter property in the province falls around Php 6.37 million.