Prior to the pandemic, Manila was among the consistently popular real estate locations in the country. The land of heritage and modernity has long attracted property seekers to its towering condominiums, the age-old and the ultra-contemporary.
For the most part, it’s the professionals, seasoned and young ones, who are most drawn to this real estate hotspot. Manila simply ticks off all the right boxes for career-driven individuals. It’s close to major landmarks in Pasay, including the airport and the Mall of Asia business complex, as well as the biggest business districts in Makati and Mandaluyong. As the heart of the metro, the capital city offers convenience and accessibility.
But with the current health crisis, a lot of people wonder whether or not the country’s capital still has its pre-pandemic appeal. A lot has changed because of the pandemic, that’s a given, but based on recent Lamudi trend reports and news sources, the insights show that it’s still worth investing in Manila. If you’re a professional looking for a property investment, go for the fringes. Here are some reasons you should invest in the country’s capital this 2021:
It’s a Crisis-Resilient Hotspot
Amid the pandemic, fringe addresses in Metro Manila relished a spike in postcode envy, reaching a preferred status in the property market. The capital of the country is among the fringe locations mentioned in Lamudi’s 2020 year-end report, ranking in the top 10 in-demand cities in the capital region, competing against CBD-hosting cities such as Quezon City, Makati, Pasig, and Taguig.
Manila’s popularity was discussed in depth in Lamudi’s special report titled One Year Later: Revisiting Real Estate in Pandemic-Resilient Cities. The insights showed that Manila was among the Metro Manila cities that posted positive lead growth figures during the second half of 2020. Despite the dizzying changes in community quarantine measures and the uncertainty of the pandemic, many look to the country’s capital for real estate assets.
Manila, a city that has weathered a global crisis, is a location worth considering when looking for a stable, income-generating property. Modern condominiums are your best bet for lucrative investments. With the continued vaccination rollout and reopening of businesses, more people will be inclined to work near their workplace to beat heavy traffic, making condos an ideal home choice. Even while finalizing leasing plans, you can use your unit as a residence and experience the work-life balance it promotes.
Leading property developer Moldex Realty has three vertical communities in the capital city, the Golden Empire Tower, The Grand Towers Manila, and Grand Riviera Suites, which are all part of their Grand Series. Given their strategic location and recreational amenities, they make for an enviable home, especially for people on the go. Here’s a quick guide for choosing among condo options:
- 1322 Golden Empire Tower. If you want to experience the best of posh lifestyle or attract the elite rental market, including the business executives and company owners, go for this condo. The units start at around P40 million.
- Grand Riviera Suites. If you’re just starting out in your career or planning to grow your family, this condo is the ideal property. You get an address in coveted Roxas Boulevard, plus you will get easy access to central business districts such as the Mall of Asia business complex, as well as the US Embassy and other commercial offices. A unit in this development will entice tenants belonging to the middle to upper-income class.
- The Grand Towers Manila. Since this development is close to schools, such as De La Salle University, St. Scholastica’s College, and University of the Philippines Manila, it’s particularly appealing to renting students. This is the ideal condo investment if you want to reach that market segment.
It’s an Infrastructure-Backed City
Aside from being crisis-resilient, the capital city is backed by big-ticket infrastructure projects. These are some of those big-ticket initiatives:
- Binondo-Intramuros Bridge. From the latest report issued in June, this project is already 68 percent complete, on track for completion in January 2022. It will accommodate 30,000 vehicles per day and ease the traffic congestion in Manila, including the jams in Jones, Delpan, and McArthur Bridges.
- North-South Commuter Railway. Phase 1 of the project, which links Tutuban to Malolos (Bulacan), is already at 47 percent overall progress rate from the latest report. Once finished, the travel time from Malolos to Tutuban will only be 35 minutes instead of 1 hour and 30 minutes.
- NLEX-SLEX Connector Road. The North Luzon Expressway-South Luzon Expressway (NLEX-SLEX) connector road will be opening this year. It will provide better access to Manila Ports, giving trucks an alternate route. The travel time between SLEX to NLEX will be 20 minutes compared to the usual two hours when this project is completed.
From bridges and railway systems to road networks, Manila hosts modern infrastructure geared towards improving mobility. More than the transportation convenience, these projects bring benefits to property buyers, especially professionals, in the form of promising capital appreciation potential.
Each is located in a strategic location, in proximity to transportation and other essential establishments, such as the Robinsons Place Manila, SM Manila, and Chinatown. The Golden Empire Tower and Grand Riviera Suites are in Padre Faura, while The Grand Towers Manila is in Vito Cruz.
It’s the Next Hot BPO Hub
Manila is known to host the world’s oldest Chinatown, but in recent years, its trade and business center has become more modern. Bay City, the reclamation area in Manila Bay, emerged as a go-to commercial and leisure destination, creating a vibrant, enviable residential location, as shown in this Colliers report.
In the post-pandemic era, it will continue to attract businesses, especially the business process outsourcing (BPO) players. This industry is particularly eyeing to generate $29 billion in revenue and some 160,000 more jobs by 2022, the IT & Business Process Association of the Philippines said in a virtual briefing organized by the Management Association of the Philippines.
With this ambitious goal, the BPO is seen to drive demand for office spaces, and by extension, residential units in Manila. As a property investor, this should inform your purchase decisions. Go for condos built to accommodate professionals. The Grand Series of Moldex Realty is an ideal choice for this. The Grand Riviera Suites, for one, has a range of units that suit different kinds of lifestyles.
There’s the studio unit, featuring 20 to 21 square meters, ideal for single professionals. The one-bedroom unit starts at 27 square meters in space, while the two-bedroom has 60 to 65 square meters, providing a bigger space for professionals who have kids. The three-bedroom unit, meanwhile, has 85 to 122 square meters, in which the extra room can be converted into a home office.
The amenities in Grand Riviera Suites are designed for the relaxation and recreation of career-driven individuals. Cap off a long, hard day with a refreshing dip at the pool or an hour-long meditation at the condo’s zen garden. You can also visit the gym for a good sweat session.
Manila is the place to go for promising real estate investments. Deep dive into the local market and seize the opportunities waiting for you. If you’re interested in knowing more about Moldex Realty’s Grand Series, visit this page.