Metro Manila is famous for its seventeen local government units and metropolitan cities. Populated with 24 million inhabitants, the area is actually a place to be.
The city of Manila is the capital of Metro Manila and located in the central parts of it. Outpacing the cities in Singapore, Hong Kong, and India, it is the most compactly inhabited place in the world but small in comparison. You can find a multitude of Asian culture and traces from Spanish history at this place. Dating back hundreds of years ago, it is home to many colonial buildings and churches. The city has the privilege of having the oldest Chinatown in the world that dates back to 1594.
Thanks for being overcrowded with people and historical buildings, you will not find many condos in Manila. Instead, the cities and municipalities around it do have a lot to offer with respect to condos.
Let’s have a look at the most prevalent and auspicious areas in Metro Manila.
Famous for its towering buildings and high-end shopping and lifestyle centers, Makati is a financial hub of Metro Manila. Central Business District of Makati is the most renowned place in the city also.
Located at the southeast of Manila, Makati is home to many tallest skyscrapers, global corporations, colonial era-churches, state of the art museums, shopping malls and hole-in-the-wall eateries which make it undoubtedly an ideal place to buy condos.
Though Makati is one of the most popular districts of Metro Manila, the property prices here are quite cheaper than the ones in Hong Kong, Singapore and various other big cities in Asia.
Makati has outperformed in terms of capital appreciation particularly during the periods in which the prices increased by double digits annually. The average price increase for 3 bedroom condominium in Makati has been fluctuating in between 9% to 14% over the last decade.
Located in the northern parts of Metro Manila, Quezon City has the biggest land area and around 3 million of population. Being the capital from 1948 to 1976, the city is anticipated to outpace Manila as the main financial hub of Metro Manila. Currently, Cubao is the financial hub of Quezon City.
The city has tremendous opportunities to offer in the real estate sector as well. The condo prices are relatively cheaper than Makati and the other central areas of Metro Manila. Thus, Quezon City grabs more attention in terms of future capital appreciations. Growing rapidly, it is home to many top universities and multinational companies. Balara and Commonwealth are two of the popular residential areas of Quezon City that are densely populated and have numerous residential gated communities.
Taguig city has emerged as a newly developed area of Metro Manila that was once a fishing village. The city is located in the Southeastern parts of Manila and has almost 1 million population. Shopping malls, global corporations, and high-rise condominiums, you will find all in this one location.
Bonifacio Global City (BGC) is the most renowned area of Taguig that has transformed into a major business hub and therefore, is considered as one of the top real estate investment hotspots. Thanks to its proximity to Manila, the area has contributed significantly to the economic growth of the city as well as the country.
Being an office kingdom, BGC is home to many expatriates and local professionals who are living in the high-end condos and gated communities of the area.
Overall, BGC is a nice place to live, work and play and has reasonable condo prices.
Pasig City is another upcoming area that is anticipated to be another real estate investment hotspot in Metro Manila. Comprised of residential real estate (inclusive of condos) mainly, the city caters to the middle and upper-class segments of the community. On the other hand, a few of the commercial activities are also going on here.
Having a rapidly growing business district like Ortigas Center, Pasig City is home to many multinational companies that have opened their offices here. Other than that, many shopping malls and hotels are also part of this city. Since the city is under development, it will be relatively easier to find a suitable condo at a reasonable price.
Condo prices vary from one place to another depending upon the location. So, buying a condo at a competitive price is a challenging task that can be performed better if you consult some reputable real estate firm. AXE Real Estate is known for its team of experts who have gained sufficient experience in the real estate industry globally. Knowing all the ins and outs of a real estate buying and selling process, they are in a better position to assist you in all of your real estate matters. So, pick up your phone and dial our number to talk to them right now!
Receive updates from the Blog!