What is in store for property buyers and investors in the City of Smiles?
Known to have some of the nicest citizens in the Philippines, the city of Bacolod has earned itself the nickname “The City of Smiles.” Apart from having friendly and genuinely hospitable people, Bacolod is also a tourist destination because of heritage sites like the San Sebastian Cathedral, celebrations like the Masskara Festival, and dishes like chicken inasal.
But what about living in the city? What exactly can property seekers expect when they acquire real estate in the Bacolod?
A subtle city of the utmost modernity and livability
To some travelers and educational tour groups, Bacolod City is mostly a tourist destination, and in some instances only recognized as transport hub due to the Bacolod-Silay International Airport and Bacolod City Domestic Airport, as well as the Banago Wharf and BREDCO Port.
To those better informed and having experienced Bacolod however, the city is one of the most livable cities in the country, with Money Sense magazine going as far as calling Bacolod the “Best Place to Live in the Philippines” in 2008.
The city remains the country’s third fastest growing economy in terms of information technology (IT) and business process outsourcing (BPO) activities, and its agriculture industry also continues to thrive, with sugar plantations a common sight in Bacolod’s landscape.
Bacolod real estate market overview
For the time being, the prices per square meter on Bacolod are comparatively lower than that of Metro Manila and neighboring Metro Cebu. There is, however, a foreseeable increase in the demand for real estate in the city, with the Capitol-owned Negros First Cybercentre (NFCC) in the city. The NFCC is the latest techno-hub in the city and is owned by the provincial government.
Projected to rake in around Php90 million in rentals, demand for space in the center will be quite high, as well as in nearby areas. An increase in the demand for residential property is also forecast, with the center and the city’s continued overall development seen to bring more people to Bacolod.
Notable properties in the city that are currently available to investors and property seekers include the following:
5 Hectares of Titled Land
One of the largest properties listed on Lamudi for the city of Bacolod, these five hectares of land are located in the Mandalagan area of the city and its asking price is Php125 million. Situated opposite of the Camella Homes Subdivision, it is perfectly suited for establishing a subdivision development of for land banking.
House in a Park
Set in a wooded and secured village with park-like features, this home features a floor area of 220 square meters and is set within a lot of 243 square meters. Currently on the market for an asking price of Php6.8 million, the home is semi-furnished and features four bedrooms and four bathrooms. The home is situated near the Poblacion area of Bacolod.
