Top Reasons to Invest in Condos Outside Metro Manila
Metro Manila stands as one of the Philippines’ most vital business and commerce centers, a hub of economic activity that has, unfortunately, given rise to severe congestion. With all the hustle and bustle, it’s no surprise that more and more people are looking for a change of pace.
This article explores the reasons behind the growing trend of moving away from the city center and why investing in a condo might be the ticket to a more comfortable, friendly, and fun lifestyle.
Why do People Choose to Move Outside of Metro Manila?
Living in the National Capital Region (NCR) certainly has its merits. Nevertheless, many individuals opt to relocate to areas either north or south of the region. This preference is primarily driven by the tranquility offered in these areas and the fact that real estate properties, whether a house and lot development or condominium projects, are generally more affordable per square meter.
Moving into a city outside the metro can be easily equated to a more peaceful area, where one can take a deep breath, relish fresh air, and slow down for a change.
The Root: Manila’s Overruling Population
The House Committee on Housing and Urban Development Chairman Francisco Benitez of Negros Occidental estimates that around 600,000 of the country’s 1.5 million informal settler families live in the National Capital Region.
Despite the government’s attempts to resettle them in the provinces, some still return to Metro Manila. One reason for this is the scarcity of employment opportunities in the region. As a result, the government is obliged to give incentives and support for entrepreneurs to relocate their businesses locally.
In line with this expected movement, the government is also considering making housing complexes more accessible.
Metro Manila is Heavily Congested
We’ve all experienced the worst traffic congestion in Metro Manila. It would only take a few minutes of non-stop rain for the streets of Metro Manila to come to a grinding halt. On certain evenings, the large number of automobiles makes EDSA look like a lengthy parking lot.
The excruciating thought of having to go through all these when living in Manila lies in the issue of congestion, a natural consequence of its status as a crucial business and commerce center.
The city’s narrow streets and high population density contribute to a relentless traffic gridlock that defines daily life for its residents. The urban fatigue from navigating through this congestion and the continuous hustle and bustle have driven the desire to explore alternative living environments.
Metro Manila’s Infrastructure is Underdeveloped
According to a Manila Bulletin article, EDSA has not expanded since the 1960s. This major road from Caloocan to Taft has not seen any further development than it is now. It was designed to have a daily capacity of 288,000 vehicles, with a maximum capacity of 288,000 cars daily.
During peak hours, however, the number of cars might reach 402,000. According to the report, this implies that EDSA is operating at around 39 percent of its maximum capacity.
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The metropolitan area of Manila serves as the country’s commercial and industrial hub. Because of the city’s well-established economy, investors locate their operations in Manila. Workers and entrepreneurs from around the country go to the capital city for work and opportunity.
Metro Cebu and Davao
While this is true, other commercial areas shine brightly outside of the National Capital Region as well as inside it. Because of their powerful and highly competitive economies, the cities of Metro Cebu and Davao have formed business hubs. Condominium communities are located near schools, commercial centers, and medical institutions.
Economic development in these areas is expected to accelerate, particularly due to the administration’s efforts to develop the Vis-Min and other regions. Business hubs are present in both sectors, with the BPO-IT business and tourism being the most prominent examples.
In addition to these sectors, others, such as agriculture, food, and service, are steadily growing.
How Can Residents Benefit From the Decongestion of Metro Manila?
The concept of relocating from Metro Manila has long been discussed in the Philippines, with numerous lawmakers and high-ranking officials advocating transferring government agencies to provincial areas.
Drawing inspiration from neighboring countries like Malaysia, specifically its administrative capital, Putrajaya, can provide valuable insights into how decongestion can significantly benefit residents.
The decongestion of Metro Manila could catalyze a shift in the real estate market, with increased opportunities for condo and real estate investments in provincial areas.
As government agencies and businesses move, there may be a surge in demand for residential properties, including condominium units equipped with amenities like swimming pools.
Reasons Why People Prefer Condominiums and Condo Living Outside of Metro Manila:
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In the Philippine Real Estate scenario, while majority of Filipinos still prefer their own house and lot, land inventory specially in key cities with strategic locations like Quezon City, Ortigas City, Makati City, Taguig, to mention a few, have become scarce resulting in steep prizes which may no longer be accessible to Filipinos investing.
Economic Opportunities in Provincial Cities
Following the Malaysian model, establishing alternative administrative centers in provincial areas could create new economic hubs. This, in turn, presents residents with the prospect of enhanced job opportunities and economic growth within walking distance of their homes.
Enhanced Quality of Life
Residents stand to gain from an improved quality of life due to decongestion. Provincial areas envisioned as green cities may prioritize environmentally friendly spaces and enterprises, fostering a healthier and more sustainable living environment for those who relocate.
Making a real estate investment, whether in a house or a condo unit, is a significant decision that requires careful consideration of various factors.
Beyond the allure of the country’s capital, Filipinos are increasingly recognizing the myriad advantages of exploring real estate and condo investments outside the hustle and bustle of Metro Manila.
Condo investments outside the metro often offer a more cost-effective alternative. The cost per square meter is generally more reasonable, allowing investors, especially young professionals, to make smart financial decisions while enjoying the advantages of condominium living.
Beyond financial considerations, investing in condominium properties outside the capital presents an opportunity for lifestyle enhancements. These residential developments, often equipped with amenities such as a swimming pool, cater to the desire for a balanced and enjoyable way of living.
This is particularly appealing to young professionals seeking both convenience and leisure.
Proximity to Commercial Establishments
Many individuals seek to move away from the urban hustle and bustle in search of convenience and an affordable lifestyle. Condo projects in suburban areas offer properties with open spaces in prime locations, just minutes away from commercial establishments and the town center. This proximity adds a layer of convenience to daily living.
Escape from Urban Stress
As more people opt to move out of cities, the desire to escape the stress of urban life becomes apparent. Condo investments outside the metro offer a respite from the constant hustle and bustle, providing residents with a more relaxed and peaceful living environment.
Haven For Young Professionals
Condominium developments outside the metro serve as a haven for young professionals. These properties often cater to the needs and preferences of this demographic, offering a blend of modern living, recreational amenities, and proximity to educational and professional opportunities.
Residential Development in Prime Locations
Investing in condo projects outside the metro means participating in the growth of residential developments in prime locations. These areas are characterized by well-planned communities that prioritize open spaces and accessibility to essential amenities.
For Filipinos, especially young professionals, exploring real estate opportunities beyond the confines of Metro Manila offers the chance to build a secure and enjoyable living environment while reaping the benefits of a well-planned residential development.
If you’re contemplating on investing in a condominium property or dreaming of owning a house, consider exploring Vista Land, the country’s largest integrated property developer. Vista Land offers diverse options to suit your preferences.
Camella’s house and lot properties are ideal for families looking for their forever homes while signing for a condo investment with Vista Manors, which provides an excellent avenue for strategic condo investments. With a commitment to quality and innovation, Vista Land assures you a property and a lifestyle that aligns with your aspirations.
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