New research suggests that proximity to the famous shops can actually increase your property value. While proximity to school districts, additional floor space and well-maintained outdoor spaces are still the top things possible buyers look for, investing in property near a commercial space is a great bonus as it can appreciate over time.
However, the exact correlation between property value and proximity to these retailers isn’t crystal clear just. Some experts believe that the values may increase because of demand to live near these stores, but it’s also likely that retailers are choosing these particular areas for a reason we've yet to find out.
Regardless, studies still revealed solid proof that those properties near commercial brand shops and boutique selling either clothing, food and beverage, accessories or others become more preferable by buyers specially those who are patrons of that particular brand. In a way, because of their interest with the brand, they also become enticed to live within the area where these shops are located. It’s like you are also giving them the opportunity to maximize the convenience of being close to their most preferred shopping stores.
This is also the reason why properties surrounded or located near main business districts are being sold for a high price. It doesn’t only support the lifestyle of the people living within it; it also supports their interest and makes like easier for them. Knowing that traveling to places from time to time can be hassle especially because of traffic. So it’s an advantage for developers and investors to find locations which are close to areas like these.
Another factor that makes the value of these properties go higher is because when they are nearby famous shops, the tendency is that more people would be going around it. This would then attract more retailers who will invest on that area. This means, you can also make the property as an investment because it can be renovated and turned into a commercial property which would bring-in huge revenue so it’s time for the owner to take advantage and sell the property for a high price.
Shorter distance to these famous shops would also cut the cost and time of travelling which makes it more preferable especially for practical people. It is also suitable for families that are adventurous, outrageous and plans to do a lot of activities as part of their daily routine.
When your property lies within the area near prominent brand shops and stores, the tendency is you would also be in close-proximity with important gatherings and events which would be attended by famous personalities, celebrities aside from the mass audience. This could also be good investment if you plan to do business within your area or you can source out deals from foreign or even local investors who are interested because of that aspect.
Living is beyond having a shelter to stay on. Places and establishments around a property also matter a lot. It might not mean a lot before but now, proximity to known shops has become something that defines and affects the value of the property.Read More
From early 2017 to late 2018, the price growth of real estate properties was observed to go as high as 10% for condominiums, 33% for house and lot and 18% for town houses. This is amidst the boom in the industry happening here in the country.
House and lot properties showed the biggest growth as more Filipino families find home to settle. It is also still considered as one of the best investments of all. This kind of property demands plenty of space thus, its location is only limited to villages and communities.
Town houses on the other hand which are located on far provinces suited for vacation and relaxation are preferred by those who are about to retire or want a break on their life. Its prices are being pushed because of the scarcity of space on major cities. That’s why provinces which are not that developed is where companies and investors come to look for locations which they can develop and where they can invest and earn significantly.
Condominiums which are for starters, or individuals with career or those who just wants to invest and earn an amount from the property. Prices continue to soar high as more high-rise property gets built and developed.
Location is one of the primary factors which drive the price of these properties. Due to the boom in the real estate industry, there became a competition on space in many areas near major business districts. Continuous development and construction on these areas poses a threat of scarcity which become the reason why the prices of the properties become higher and higher.
Another factor comes from the demand of other industries for space and for establishments which only real estate can provide. The success of these industries also means more demands from other companies; thus, an opportunity for real estate investors and developers to drive out more revenue.
It’s only a matter of 2-3 years but the level of the rise of property prices has already become significant. While according to experts, this movement in the price rate is not stopping yet. As more foreign investors become interested and engaged in the Philippines’ real estate industry.
On the other hand, they assured that this price hike will not negatively affect Local and Filipino investors. In fact, it is even beneficial for them if they would be able to invest wisely and properly in the market. The success of their investments still relies on them. But it is promising that the real estate in the country is in good and flourishing condition.
The challenge now aside from the prices that will continue to move upwards is the tight competition among businesses. But there’s nothing to worry about because there’s a lot of strategies to survive in the industry. All of these involve an in-depth study and sufficient knowledge about the status and pulse of the market which can be used to strategies and make a good business plan.Read More
The Philippines’ real estate industry is one of the most successful and booming as of today. This has resulted to the massive number of expats wanting to have a spot and purchase a property especially on key business districts and areas. This factor also triggered a phenomenon on which the prices of condominium units rise unceasingly.
Makati, Taguig and Pasig are among the top business districts surrounded by establishments and buildings as well as businesses which made all of it perfect for development. That is why, it is continuously being commercialized as more and more properties are being built to be sold.
Looking into the city of Makati, most of the condos standing at this area are surrounded by businesses, retail outlets, and high-end leisure and entertainment facilities. While traffic can be a challenge, particularly during the extended rush hours, living in this area is still ideal especially for expats working in the Makati business district. The top real-estate developments are concentrated in the upscale neighborhoods of well-known Villages. However, because of its status as the country’s financial capital and the constant demand for living space, renting or buying a condo here can be quite pricey. Though, this may not matter so much especially for those who are vying for convenience and comfortability.
The business district of Taguig on the other hand, is relatively young compared to Makati and Ortigas. But still, it is a top destination for expats attracted to its startups and established companies. Its central district is known as Fort Bonifacio Global City (BGC). It was built from a former military reservation and it’s considered as a masterpiece of urban planning with wide, open parks scattered throughout. It is also relatively less congested compared to its counterparts, and expats with children can choose from the many international schools that have opened campuses in the area including the British School Manila, the International School Manila, and the Manila Japanese School to name a few. It is also a center for health care, being home to St. Luke’s Medical Center, one of the best in the country. So, it is really a good place to settle down and live a stable life.
Lastly, Pasig City; this place has been considered as one of the country’s financial centers for the past two or three decades. Its financial district, Ortigas Center is the location of the Asian Development Bank and the Philippine Stock Exchange. This district is surrounded by three large malls which is SM Mega Mall, Shangri-La Plaza, and Robinson’s Galleria. However, the district’s narrow streets and layout make it difficult to get around compared to Makati and Taguig.
As of today, the only problem right is the threat of space scarcity ang overpopulation. When these business areas become overcrowded and congested, traffic will be more rampant and it would be harder to settle and live a stable life. This means, it is also important to have balance and to limit the consumption of space.Read More
As the real estate industry goes into a boom, demands for luxury condominium property also arise. This in turn causes a domino effect that makes prices step even higher.
Highly developed areas and business centers are some of the places to be observed with the highest increase in prices ranging from 20-30% which makes it reach the half a million-mark. Luxury units by well known developers are also continuously catching interest starting on the late 2018 up to present.
Direct investments from abroad are some of the drivers of the demands on the real estate sector. This goes hand-in-hand with the demands that are mainly driven by Information Technology and Business Process Management (IT-BPM) companies returning to the Philippines.
There is also a surge of Mainland Chinese buyers in the residential condominium sector. This is what causes the trend of alleviating prices which according to experts will not stop any sooner. Though, they clarified that these won’t have any negative impact with local buyers and investors also because of the increase on the number of millionaires and billionaires in the country.
Aside from the property itself, land value now also starts to move upward contributing to the totality of the each unit. According to studies, this is also a result of our country being more open to international relations thus paving way to more and more investors looking into our country.
Office spaces because of other booming industries are also to be considered. The only problem that is being seen about what’s happening is the threat of land and space scarcity which would greatly influence the topping up of prices. On the other hand, this seems to be good news for many workers because all of this also opens opportunities for job offerings and hiring which are connected to the construction of high-rise properties.
Many developer companies are still on the look-out for other areas to be developed and converted for commercial expansion and use. This would benefit those who are investing on land areas and properties for this can be a way for them to sell at very high price depending on the measurement and the location.
There’s not much alternative as of the moment except for investors and buyers to look for places which are farther to business districts as early as now. These are locations that are potential for good investments for they might become more valuable and pricey in the future.
Aside from being a personal property for comfort and convenience, owning luxury condominium units can also be converted into a competitive and a high source of significant revenue. It is a business where people are talking about not just the usual prices of units and properties but millions and even billions of revenue that can be generated from all of it.
So, before buying a property for personal consumption, you might also consider looking into the business side because you might not know when you can make good fortune out of it.Read More
Sometimes, it is not enough that you only got what it takes. It is also important to be wise and knowledgeable about what you want and what you are doing.
It’s good to know that more and more OFWs are learning how to invest with their hard-earned money. This is something that is learned in a hard way from those who came home empty handed after years of unimaginable work and sacrifice. But, when it comes to real estate particularly condo living, it is not enough that they know how to buy a property, they should also know about the factors that will maintain and improve its market value for a better return of investment in the future.
Property management happens to be one of the factors that should be taken into consideration. Many condominium developers and sellers are now tie-up with property management companies. They are helpful and vital with regards to the maintenance of the property to also keep its value. Having a team of experts looking into the property is also vital to make sure the amenities are still attractive and preferable for prospective buyers.
Most owners nowadays may not be fully aware and knowledgeable on how to earn from the property that they have bought and with the help of a management company, owners can make sure that their units can be sellable and interesting to the eyes of buyers.
Primary, a property management company’s job involves managing common areas, the building and amenities including repair and maintenance. One dilemma that owners are facing right now is even though with a very attractive location, still their property becomes a flop and fails to be marketable. Not knowing that it might just have something about what’s inside it more than where it stands.
Property management company also have people who have keen eye on checking whether your property can accommodate sustainable living; something which is crucial to the people who will be occupying the unit. With their experience they can also suggest on how you can improve your property to make it competitive against other properties and assets.
With a focused property management team, it will be assured that the property will not suffer immediate wear and tear and will reap a higher long-term value for the shareholders.
In general, it is important that the whole building including its facilities and amenities will be well-taken care off because these are major selling points for potential renters.
There are a lot of hard-working Filipinos. It is a part of their dream to be able to benefit even greater from the fruits of their labor; looking for someone to help them earn out of the property that they bought and worked hard would be a big thing for them. Good thing there are people who do property management. The only thing that owners need to do is look for the right people to work on their precious properties.Read More