More and more people are looking for properties in new growth areas outside Metro Manila, which are in close proximity to future megacities as well as new roads and infrastructure.
Homebuyers want to live in sustainable communities where they can experience a new and more livable ecosystem.
They want to have access to everything to be able to live a good life today and for generations to come.
The completion of infrastructure projects certainly adds value to nearby properties. With the huge number of infrastructure projects currently being developed as well as those in the pipeline, many areas in the country stand a chance to benefit from increased land values.
“Previously, we emphasized that the completion and upgrading of railways, toll roads, and airports across the Philippines should contribute to higher land and property values,” said Colliers Philippines associate director and head of Research Joey Roi Bondoc.
“In our view, these projects are also likely to play an important role in dictating the development strategies of property firms beyond the pandemic,” he added.
Colliers believes that infrastructure projects will strongly contribute to economic growth this year. This is especially true for developments outside Metro Manila.
“Acquiring parcels of land within and outside Metro Manila will be crucial in developers’ plans to line up new projects beyond 2022 as they capture demand in the market post-pandemic,” said Colliers senior director and head of Valuation Services Paul Vincent Ramirez.