BIZ BUZZ: Posh villages unscathed by real estate woes
We’ve all been hearing endless reports about the residential condominium glut in Metro Manila, mostly in the middle-income market that’s more sensitive to high interest rates.
But no matter the source, they all say there remains one sector bearing no wounds from the country’s slow economic growth and high mortgage rates: the luxury residential segment.
In the capital region, we’re familiar with all the prime villages populated by who’s who.
Chief among them is Dasmariñas Village in Makati, which still commands the highest valuation per square meter (sq m) at P704,000, up 0.6 percent in the second quarter versus the first, says Leechiu Property Consultants.
Forbes Park fetches a lower pricing of P649,000 per sq m (up 1 percent), but this is only due to much larger lot cuts than in Dasma. Entry-level deals at Forbes Park—still the most prestigious address in this part of the world—could amount to billions.
Ayala Alabang is valued at P237,000 per sq m, up 0.4 percent.
These higher prices typically signal strong demand, which begs the question: Are people in Metro Manila getting richer?
Rising consumer affluence appears so, and another prime destination is Green Meadows in Quezon City, where prices have jumped by 2.5 percent to P288,000 per sq m, the steepest climb of them all.
If you’re thinking about where to park that extra cash, maybe one of these exclusive villages will suit your portfolio.
