When it comes to Metro Manila, location remains the primary factor for both property buyers and renters. And while popular locations historically, such as the Mall of Asia area and Bonifacio Global City, remain in demand, several new locations are growing in interest. That’s due to the fact new infrastructure projects and business ventures are unlocking the potential of other locations including Quezon City and Pasig City.
“There is a growing market for real estate, especially from the workers in both BGC and Makati. The workforce in these locations keeps growing rapidly, Rachel Fernandez, President at Horizontal Vertical Properties Realty Inc., explains. “Condominium unit owners have the tendency to sub-lease units to different tenants and usually offer them at a lower individual lease rate. Areas adjacent to BGC and Makati are hotspots for dormitory developments.”
She adds that many Horizontal Vertical Properties Realty clients normally hold location as the crucial consideration before making any buying or leasing decision. They want a property that is accessible to their workplace as well as being livable, convenient and suited to their kind of everyday lifestyle. Other factors such as security of the area and price also strongly factor into property decisions.
When it comes to investors, many look to buy studio units in the 30-40 square meter size range. According to Fernandez, these units are faster and easier to lease out due to the fact the Philippines has a significant number of young professionals now working in Metro Manila. Investors continue to target areas with strong growth potential as well as locations that are popular with local residents and/or are close to nearby tourist spots.
“Of course, property investors want to gain profit so they consider a property that will be able to do this or sustain long term rental, so they want to know the market, employment opportunities and the community near the area. They also want to make sure that their investment won’t be eaten up in maintaining and fixing the property,” Fernandez states.
Finding the silver lining when it comes to traffic and congestion in Metro Manila
Traffic and congestion continues to be a hot topic issue in the Philippines. Gridlock is bringing Metro Manila to a standstill and this has influenced buying decisions with more people opting to live as close to their workplace as possible. And while the situation is currently bad, there is hope on the horizon.
“Traffic and congestion definitely effect client buying decisions. We are rather optimistic than disturbed as new infrastructure projects, such as the Metro Manila Subway, Metro Manila Expressway and SLEX and NLEX connector, will increase connectivity within the Metro. People are now mobile. More business opportunities are being created and more possibilities are being offered for people,” Fernandez points out.
Horizontal Vertical Properties Realty understands the importance of location and accessibility when clients are looking for property and the agency works hard to achieve the best possible outcome.
“We provide not only alternative choices for properties but also personally offer useful and professional insights and recommendations. We help clients secure a property near their workplaces, transportation hubs or commercial establishments so they can avoid traffic if at all possible,” Fernandez says. “Likewise, property investors should know the current market value of the property vis-à-vis the existing and future infrastructure projects.”
The Horizontal Vertical Properties Realty difference
Horizontal Vertical Properties Realty made headlines last year when it was named as one of Philippines’ Best Real Estate Agencies at the Dot Property Philippines Awards 2019. The agency is a full-service real estate brokerage which prides itself on offering unparalleled brand of quality real estate service in both residential and commercial sales and leasing services.
“We provide premium care for clients and satisfaction is always in mind. Everyone we work with is treated with utmost care and diligence. We strive to meet all of our clients’ expectations by providing the most innovative, practical, and current information together with top-notch service standards in all our deals,” Fernandez explains. “Our clients are guaranteed efficient and transparent property transactions.”
She concludes, “every broker and agent at Horizontal Vertical Properties Realty aims to provide each client the best real estate service in accordance with the right values. We aim to give only premium quality and client-focused services bound by integrity and efficiency.”