Most of us envision living in the capital region, while an increasing number of aspiring homeowners are considering investing in properties outside Metro Manila.
If you’re considering purchasing land, you may be curious about what lies beyond. After all, living in the nation’s capital has long been the default — especially for those of us who have lived here our entire lives. However, who knows? Perhaps your future home is located outside Metro Manila. The following are the few reasons why.
Primary Considerations to Buy Properties Outside Metro Manila
1. Generally, properties outside Metro Manila are less expensive
For millennials or younger adults, homeownership appears to be a far-fetched fantasy. After all, most of us must contend with barely livable wages, constant market inflation, and adult responsibilities.
Even after the pandemic, property prices in Metro Manila remain prohibitively high, particularly for Filipino millennials with an average income of less than PhP50,000. Having said that, it is entirely reasonable for millennials to consider investing in real estate outside Metro Manila, where prices are generally lower.
Consider the following examples of data presented by Numbeo, an online database of user-contributed data about cities and countries throughout the world. Cavite rents are 82.11 percent less expensive than in Manila. Rents in Antipolo are 75.85 percent less expensive than in Makati. Monthly rent is also 17.42 percent less in Angeles, Pampanga than in Quezon City.
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2. The cost of living is more affordable
This may or may not surprise you: Manila is one of Southeast Asia’s most expensive cities to live in.
According to Numbeo, a single person living in Manila or Quezon City requires approximately PhP29,000 per month to survive — rent and mortgage not included! By comparison, Makati’s consumer prices are even higher (24.44 percent) than those in the other two cities. The significant cost of living difference between Metro Manila and the rest of the country is a major reason why many Filipinos consider investing in properties outside Metro Manila.
3. More Property Options Outside Manila
It’s no secret that Metro Manila has long had the Philippines’ greener grass. The area has become so densely populated over the years as a result of the influx of Filipinos seeking opportunities in the region.
Metro Manila was named Asia’s most congested city by the MMDA in 2019. Meanwhile, the recent Commission on Population survey reveals, Quezon City, Manila, and Caloocan are the country’s most populous cities, with Quezon City alone having 2.9 million residents.
As a result, cities in Metro Manila have fewer residential properties than cities outside the region. Fortunately, several developers have begun investing in non-Metro Manila real estate. Many are now offering Filipinos additional property options such as condominiums, townhouses, apartments, and single-family homes.
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4. You can Breathe More Space Outside the Metro
On a similar note, one of the best aspects of living outside Metro Manila is the opportunity for breathing space. Due to their significantly lower population density, these areas typically have better traffic flow and more pedestrianized streets. Outside Metro Manila, developers frequently boast about their “walkable” communities. Consider living in a neighborhood where you can take refreshing strolls at any time of day!
5. Less Toxic Environment Outside Metro Manila
Simple law of economics, when the population is bigger you can expect a greater amount of pollution. As the metro creates more opportunities for everyone we can expect that migration is present where these opportunities are. Hence, overpopulation can be evident inside Metro Manila.
Overpopulation, pollution, and even noise can be disturbing and bothering for someone who wishes to enjoy a good sleep after a hard day at work.
6. Properties outside Metro Manila give Access to the Working Class
The days of employment opportunities being limited to Metro Manila are over. According to reports, businesses in the Philippines have shifted their focus to other sectors. Nowadays, more businesses — particularly BPOs — are sprouting up in Baguio, Pampanga, Laguna, and Rizal, among other places.
Not to mention, remote work is becoming more prevalent in the Philippines. If you’re one of the employees who has fully adapted to the work-from-home arrangement, you have a better chance of finding a place to live.
On the other hand, if you work in the National Capital Region, you can anticipate improved commuting options in the future. Consider that the LRT-1 Extension, which is currently 57 percent complete, will reduce travel time between Manila and Cavite to 25 minutes. Soon to be fully operational, the LRT-2 East Extension will connect Recto, Manila to Antipolo, Rizal in less than 40 minutes.
These are just a few of the transportation systems that envision a more connected Luzon; and once operational, they will undoubtedly benefit commuters from outside Metro Manila. If everything goes according to plan, traveling to and from Metro Manila will become more convenient.
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Real estate is frequently a lucrative investment
Whether you choose to invest in property outside or within Metro Manila, it is highly unlikely that you will incur losses. If you have the financial means to invest, real estate is one of the most secure investments available due to its tangible nature and low risk. And, after all, it ensures that you will have a shelter — a basic human need.
In March 2021, the Philippines’ year-on-year growth rate of house prices reached a record low of -4.2 percent. On 25 June 2021, the Bangko Sentral ng Pilipinas reported that property prices in the National Capital Region had decreased by -0.8 percent from the previous quarter. Meanwhile, residential property prices outside Metro Manila fell by -2.1 percent.
Aspiring homeowners can take advantage of the pandemic’s decline in real estate prices. On the other hand, experts predict that property prices in the Philippines will begin to recover in the fourth quarter of this year, making now an excellent time to invest in real estate.
Investing in real estate is a significant undertaking
All investments require a substantial amount of capital — both financial and intellectual. Conduct due diligence before investing in real estate: Consider the dangers. Consult with those who have more experience. Calculate the total cost over time. Consult with experts.
Are you thinking about investing in real estate outside Metro Manila? Check out Vistaland and Lifescapes Inc.’s newest brand, Camella Manors, a collection of high-end and exclusive midrise condo developments located in bustling cities outside Metro Manila.
Camella Manors specializes in condominiums for sale in North Caloocan, Lipa, Puerto Princesa, Bacolod, Butuan, and Davao City. You can browse ready for occupancy or RFO, pre-sale, and rent-to-own condo units across the country.
If you’re interested in learning more about investment opportunities in Camella’s condo units for sale, simply fill out the inquiry form or send a message directly through this website’s official chatbox.