Quezon City | Metro Manila's first planned city
Quezon City holds the distinction of being Metro Manila's first planned city, with plenty of spaces, parks, and key public service institutions.
Quezon City is considered the seat of public service in the Philippines. It is the largest city of Metro Manila but is one of the least dense with around 17,600 pax per square kilometer.
Quezon City Neighbourhood
The city offers plenty of open spaces, thanks to its planned urban development and its vast number of parks for the rich greenery and clean air. The northern area of the city, Novaliches, houses the city's industrial zone where a number of manufacturing enterprises can be found.
The Cubao area is a historic commercial and residential zone, housing what was the world's largest coliseum and one of the country's oldest commercial centers. It has since undergone a redevelopment and an ongoing modernization program.
In the city center, Tomas Morato and Timog Avanues are known for its colorful bars and restaurants.
Diliman district hosts the country's premier institution of higher learning, the University of the Philippines. As a site for many of the best educational institutions in the region, Quezon City has a healthy secondary market for residential properties with ready buyers from families looking to locate close to their preferred schools. Diliman is also recognized as the greenest portion of Metro Manila and is often referred to as the "lungs" of the city due to its preserved parks and greenery
The Rise of Quezon City's Triangle Park
Quezon City's Triangle Park is the city's designated Central Business District. It's seeing a frenzy of developments, including shopping malls, entertainment centers, world-class office buildings, and residential towers. With a development boom spearheaded by SMDC's Grass Residences integrated lifestyle complex, the area features one of the country's earliest super malls and the highly successful SM North EDSA.
Because of its dynamic growth, the city attracts investments for four-and-five-star hotels, including the upcoming Shangri-La Hotel, soon-to-rise Solaire casino and entertainment complex, and Seda Hotel at the Triangle Park.
City Highlights | Infrastructure
Quezon City is an attractive location that serves as the gateway between the northern and southern provinces through its direct access to the NLEX tollways to the north, and EDSA and C5 highways that connects towards the south.
Quezon City has been recognized as the Most Competitive City in the Philippines for three consecutives years by the National Competitiveness Council, honouring the city's infrastructure and economy.
Quezon City is home to some of the country's premier health institutions as well as private, world-class hospitals; St, Luke's Medical Center, the ISO-certified National Kidney and Transplant Institute, the Philippine Heart Center, and the Philippine Orthopedic Hospital.
Quezon City has been gaining ground as a business destination. By 2017, Quezon City has captured 12 percent of business process outsourcing (BPO) businesses, including some of the top BPOs in the country. The EDSA highway corridor traversing the city has become recognized as a BPO corridor.
Quezon City has also been declared as the Information and Communication Technology capital of the Philippines due to the highest concentration of IT parks and economic zones, and for being a preferred home for many of the biggest business process outsourcing (BPO) firms in the country, including global firms such as Accenture, TELUS, Convergys, SITEL, IBM, Teletech and Sykes Asia.
Quezon City currently offers some 78,000 condominium units, with selling prices ranging from PHP 228,800 per square meter, and with vacancy rates at just under 11% Quezon City's central location, liveability, and infrastructure make it viable and affordable residential option even for those who conduct business at the outer edges of Metro Manila.
Being a planned city, Quezon City offers residents open spaces, clean air, and rich greenery, along with wide avenues that make traffic less of an issue making commute a more easy and pleasant experience. All of these allow for a more relaxed lifestyle, making the city a liveable one. As a result, real estate values have been appreciating at some 10% per annum, and rental rates per month average at around US$11.40 per square meter. It has also been growing around 9.7% per annum. This makes Quezon City the perfect investment location fo those looking for affordable properties that are set to appreciate significantly over time.
Investing in Quezon City
Quezon City is the perfect city for those who are seeking a more relaxed lifestyle in an area that offers a relatively low-density living space. Here, you can get the best of both worlds; living a suburban lifestyle while still having high-energy centers of activity within reach. It is also a city that offers convenient access to the rest of Metro Manila, and to the provinces beyond, with plenty of transportation options available.
The city still has a vast expanse of land to develop, offering exciting possibilities for future growth. At the same, capital values have been rising as developers and investors alike discover the promises of the city as an affordable investment option with plenty of long-term returns. Quezon City offers tremendous opportunities for those who come in early enough to ride on its inevitable growth and progress.
Philippines: An Investment Primer
THE PHILIPPINES (PH) is among the fastest growing economy among global emerging markets. With consistent annual growth rates of 6 to 7% since 2012, it is one of the top 20 best-performing economies in the world.
PH PROPERTY GROWTH DRIVERS
With an estimated 2.3 million Overseas Filipino Workers (OFW), remittances have been significant driver of demand for real estate properties as families seek owned an investment properties. Remitted revenues are expected to continue growing by at least 3% a year.
Metro Manila is the nation highly urbanized center of growth. With 12.8 million people, it is responsible for 37% of the country's gross domestic product (GDP). Overseas workers remitted $32.21 billion in 2018, 11.8% of which went directly.
Business Process Outsourcing (BPO).
The Philippines continues to be the largest location for delivery of contact services in the rest of the world, accounting for 15% of the global BPO market. This is due to country's high English proficiency, strong affinity with Western Culture, and 96.9% literacy rate.
Philippine Offshore Gaming Operators (POGO)
Offshore gaming has become a surprise growth industry and as of 2018 accounts for 26% of total office demand. The influx in the numbers of working immigrants has also led to a huge increase in demand for residential properties, particularly in the areas of the Bay City and Makati.
Tourism.
The industry brings in 10% of the country's GDP. More aggressive promotional campaign from the Department of Tourism has led to accelerated growth in arrivals with an annual growth of 11% from 2012 onwards. Tourist arrival has hit an all time high of 7.1M in 2018 and expected to hit 10M by 2020 which will further drive demand for hotel, resort, residential, and commercial facilities.
Infrastructure Investment.
The Philippine government is investing $158 billion to modernize the country's infrastructure through 75 flagship projects that are expected to accelerate economic growth and create economic growth and create 1.8 million jobs by 2022. The aim is to push the country into upper middle-income status by 2022.
Investing in Property.
Unlike other countries, foreigners are allowed to own up to 40% of condominium developments in the Philippines. This presents a remarkable opportunity as Metro Manila offers some of the fastest-appreciating properties in Asia, along with some of the highest rental yields and lowest vacancy rates. And yet, Metro Manila properties are still among the most affordable in the region.
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