Albay, situated in the Bicol Region of the Philippines, is a well-known province that boasts of natural wonders. Much of this popularity is attributed to the world-renowned Mayon Volcano, located at the crossroads of eight towns and cities in Albay.
Aside from this, the magnificent volcano is also the central attraction of the Albay Biosphere Reserve, as assigned by UNESCO.
In essence, the province, especially its capital, Legazpi City, Bicol is a hub of beauty and natural resources. As a result, this makes the province an ideal location for property investment and other business ventures.
Despite being a few hours away from Manila, the vibrant economy of Albay is a promising land of continuous growth and development.
Opportunities that make an investment in Albay, Bicol ideal
Albay may not immediately come to your mind when looking for a place to invest or start a business. However, the province offers a range of opportunities that would put it on your list of locations to consider.
Tourism
The Province of Albay has no shortage of famous tourist spots, thanks to its stunning natural wonders like the Mayon Volcano, Albay Gulf, and sparkling beaches.
In addition, a bill declaring the province’s west coast as a tourist spot is also expected to bring in more business to Albay.
As such, the tourism industry deservingly earns its status as the backbone of the local economy. Furthermore, it opens up business and job opportunities with hotels, resorts, restaurants, and other service industries.
Natural resources
Aside from natural wonders to marvel at, Albay is also a fertile stretch of land with a favorable climate where crops like coconut, rice, and abaca grow abundantly.
In addition, the province is bordered by water, which makes aquaculture another significant contributor to local production and income.
Given these, the province is also a top choice for agricultural investment ventures, including livestock raising, farming, and fisheries.
University hub
By now, Albay has already established itself as a province rich in natural resources. But besides these, it is also home to many colleges and universities.
Some of these institutions include the University of Santo Tomas-Legazpi and Bicol University, which draws in more people to settle down near the province’s capital.
Transportation hub
People know Albay as the home of Mayon, but it is also famous as the gateway to the rest of the Bicol Region.
Within Albay are an airport, a local and domestic port, and a railroad system that simplify travels to other provinces in southern Luzon.
Additionally, the Maharlika Highway passes through Albay, making it more accessible by land travel. With this transportation network, people and goods can freely move from Albay to other parts in Bicol like Sorsogon and even Naga.
New industries
In addition to tourism and agriculture, Albay, Bicol has an evolving manufacturing industry. Here, locals produce ceramics, furniture, and handicrafts to supply domestic and international demand.
Furthermore, this opens the potential for the development of small to medium-scale manufacturing businesses.
Real estate
With more people coming in to visit and stay in Albay, and other parts in Bicol it also drives up demand for real estate properties. This includes homes, apartments, and commercial spaces either for long-term or short-term rent or as a lifetime investment.
In summary, Albay offers a diverse range of investment opportunities. With the right planning and strategy, investors can take advantage of Albay’s potential for growth and development.
What are the best investments in Albay, Bicol?
People looking to invest in Albay could benefit from its many opportunities and the local government’s incentives. As such, here are the top industries to venture into in Albay.
Agriculture
Albay ranks high in agricultural production and food security in the Bicol Region. Accordingly, the local government provides support to its growers to sustain and improve its production levels. As such, investing in agriculture could be a less costly and more profitable venture in the province.
Livestock
Aside from crops, investors could also look into raising livestock for milk production. Such would also support the local campaign to build the industry and improve its climate change resilience.
Aquaculture
Lastly, the province has also been putting efforts into improving its aquaculture with the addition of a new hatchery. Investing in innovative aqua farming such as this could help address the demand for marine products while keeping the sector sustainable.
Investment in the tourism and the service industry
The COVID-19 pandemic has set back many industries in Albay, Bicol, including tourism which took a hit of around half a billion pesos in losses. To revitalize the industry, the local government passed a bill that would promote various locations in Albay and attract tourists back to the province.
Given this, investments in the tourism and service industry could benefit both the investor and Albay’s economy. Though tourism is already a huge chunk of Albay’s economy, there is still room for expansion that new entrants can take advantage of.
Furthermore, the Albay, Bicol government incentivizes entrepreneurs and investors that contribute to the province’s economic growth. As a result, this makes business easier and more attractive.
Real estate properties
Hospitality
In conjunction with the growth in other industries, real estate in Albay is also on the rise. The resulting spike in the number of tourists visiting Albay in Bicol creates a demand for accommodations. This translates to a need for resorts, hotels, and vacation rentals, which drives up real estate property demand.
House and Lot Investment
Property investors can take advantage of current market prices by buying lots and residential properties now. Additionally, they could rent out these properties and earn passive income. With these factors, real estate investment is a wise move in Albay, Bicol given its potential for growth and development.
What is life in Albay, Bicol like?
Living in Albay is a vibrant and fulfilling experience where families can find a balance between leisure and adventure. The province is endowed with natural scenery, beaches, and islands that make it a perfect home for adventure-seekers and outdoor enthusiasts.
Entertainment Scene
In addition, Albay also offers a good selection of entertainment options for locals and tourists alike. With 15 municipalities and three cities, there are plenty of opportunities to explore the province and discover new experiences.
Overall, life in Albay is easy and enjoyable. Here, the heart and warmth of locals create a welcoming atmosphere, which makes it a great place to raise a family.
Choose Camella properties in the Bicol Region
Camella Legazpi
Camella is among the pioneer and established house and lot developers in Albay and the Bicol province in general. Its first development, Camella Legazpi in Brgy. 59 Puro, Legazpi City is in a convenient location with a prime view of Mount Mayon. In addition, it is positioned to provide easy access to business centers, schools, hospitals, and transportation hubs.
Camella Hillcrest Legazpi
To meet the property demand, Camella has recently unveiled Hillcrest Legazpi, its new six-hectare development in Brgy. Taysan. Similarly, at the crossroads of opportunities and comfort, Hillcrest Legazpi is a tight-knit community that encapsulates everything residents love about the Bicol Region. To know more, feel free to check out the Legazpi property page.
Looking for more properties nearby? You may also browse Camella’s complete catalog of properties in Bicol. Alternatively, you may also fill out this online form to know more about the properties for sale.
Celebrate Life’s Milestones in Camella Hillcrest LEgazpi
House and Lot for Sale in Legazpi City, Albay
