The Philippine property sector anticipates a fiery run in the Year of the Wooden Dragon. Moreover, the bullish outlook is primarily driven by the real estate industry’s resilience even in the face of economic downturns.
The acid test came during the Covid-19 pandemic, which has proven further the experts’ maxim that property investment, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.
The condominium market is definitely one of the stars of the local property market as it could ensure a hefty return for the investors.
In its latest report, property management and consultant firm JLL Philippines reported that the annual supply of condominiums grew by 5,590 units due to the completion of developments in Makati City, Pasig City, Quezon City, and Taguig City. In 2023, JLL Philippines said fresh stock of 11,480 units were added in the residential market across Metro Manila, increasing vacancy levels. Spillovers stacked in the 2024 supply with a total of 65,450 upcoming units. Further, JLL Philippines said in terms of market share, Quezon City, Makati City and Taguig City continued to house the majority of the ready-for-occupancy units in Metro Manila as of the fourth quarter of 2023.
According to JLL Philippines, an additional supply of around 99,150 units is expected to enter the market by end-2026 wherein most are in Pasig City, Parañaque City, and Quezon City. “By end-2026, Quezon City, Makati City and Taguig City are still anticipated to hold the majority of the condominium stock,” JLL Philippines said.
Meanwhile, Colliers Philippines said in its latest report that middle-income projects dominated the launches and take-up in 2023.
Joey Roi Bondoc, research director of Colliers Philippines said fuelling the demand in the residential sector are development more master planned communities, continued offering of ready for occupancy promotions, return of expatriates to support rental markets, the Bangko Sentral ng Pilipinas’ projected 30 percent rise in the overseas Filipino worker’s remittances, and one of the fastest gross domestic product expansion in 2023.
To sustain the demand for residential units, Colliers recommends continued landbanking for future master-planned projects, assess attractive price segments for each submarket, integrate sustainable features and property technology, and highlight property’s viability as an investment.
Vista Land’s investment value
Vista Land Division Head Teresa Tumbaga said the company is definitely one of the top developers in the condominium segment as it has presence in prime locations, defined as those that are near schools, shopping centers, healthcare facilities, and transportation links.
“Each Vista Land condominium reflects our dedication to providing not just a place to live but a lifestyle to cherish,” affirming to the company’s proven track record, emphasis on prime locations, awareness of development trends, and a well-earned reputation as a trustworthy guide in every property investor’s journey,” Tumbaga said.
Tumbaga said Vista Land’s high-value condominium towers are designed and built to differentiate it from the other projects. It has access to business districts and commercial hubs, and even proximity to major road networks and the international airport. Such a strategic approach not only ensures convenience for potential residents but also contributes significantly to the property’s value appreciation, according to Tumbaga.
Tumbaga said forward-thinking investors are quite aware that a condominium property with the potential for sustained appreciation over the years lays a robust foundation for a lucrative investment. She said Vista Land has the foresight and commitment to selecting locations with intrinsic growth potential to mark their condominiums as enduring assets.
“As a final point, investors are also strongly drawn towards Vista Land’s condo projects that are decked out with excellent amenities For instance, a swimming pool is right there for residents who wish to go for a dip. Fitness buffs have their own personal fitness center. Homeowners have access to walkable green spaces, a playground for their kids, a clubhouse for their milestone celebrations, and 24/7 security for their peace of mind,” she said.