Davao City is front and center in our post-COVID economic recovery outside Metro Manila. Apart from being one of our most competitive cities over the past two decades, Davao has always been ranked as one of the most resilient in the country.
In the 2019 Cities and Municipalities Index, Davao was ranked the third most disaster-resilient city in the country. And with new infrastructure anchored by a stable economy, it’s easy to see why more people are lining up for property here, as well.
And so should you. By the end of the second quarter of 2020, amidst lockdowns across the Philippines, house and lots and lot only projects in Cebu and Davao sold roughly between 90% to 97% of its total inventory. Meanwhile, because of the additional space of the new 15,000-sqm. worth of open PEZA that
Additional space from the new 15,000-sqm. Philippine Economic Zone Authority (PEZA) grounds from 2020 to 2022 should also attract greater condominium demand for those who want to reside in Davao City.
Colliers International Philippines also believes Davao’s appeal as an investment hub is anchored on recent infrastructure development under the current administration’s flagship “Build, Build, Build” program. Feasibility for residential and commercial property development in areas along Davao Coastal Road, Mindanao Railway Project (MRP), and the Davao Bus Rapid Transit (BRT) is high.
Add these to the fact that Davao still ranked second out of 33 highly urbanized cities in the 2020 Cities and Municipalities Competitive Index, and you have a city ripe for property investment opportunities, both for investors and end-users. Davao was even ranked first in presence of business and professional organizations and productivity, as well as second in increase of employment.
Where to Invest
Home to more or less 50 Business Process Outsourcing Offices, Davao City is a good place to start for those looking to buy a home in the Philippines beaming with great return potential. Situated near local business districts, Lane Residences and Avida Towers Abreeza are preselling condominium developments that should remain attractive to BPO professionals and young families.
Colliers International Philippines expects 2022 property prices and rental rates to increase by 1.5% and 1.7%, respectively. Meanwhile, the average annual appreciation rate for condominiums is at 5.7%, according to asiapropertyhq.com.
The Abreeza Estate is just around the corner, too. And these condos allow for easy access to the Francisco Bangoy International Airport, as well as malls, churches, schools, and markets. Studio, one-bedroom, and two-bedroom units here only go for ₱2,800,000 to ₱7,000,000. You can own a Lane Residences unit for only about ₱13,000 a month. Buy through us and you also get ₱10,000 on your purchase.
For house and lots in Davao City, buy real estate at Camella Buhangin or Camella Toril. Invest in these properties and you get an investment that is bound to attract growing families and Overseas Filipino Workers (OFWs). Prices for house and lot units here range from ₱3,826,000 to ₱9,806,000. Own a house and lot at Camella Toril for about ₱25,000 per month.
Ready-for-occupancy (RFO) units here possess amenities like basketball courts, clubhouses, and 24-hour security, which homebuyers value in their properties. In addition, the Francisco Bangoy International Airport, Lyceum of the Philippines University, and St. Peter’s College of Toril, as well as major thoroughfares, malls, and more are all easily accessible to and from these projects.
Conclusion
Davao City has now become one of the leading property hubs outside of Metro Manila and Cebu. It has a proven disaster-resiliency record, economic stability, and investment interest that should attract even more end-users and investors to buy Davao City properties over the next few years.
An Ohmyhome property agent is always here to answer all your questions and address any of your concerns.
For more information, visit Ohmyhome.com now or download the official Ohmyhome app today!
Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.
Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.
Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.
The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.
Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.Stay connected with Ohmyhome Philippines by following our official Facebook, Instagram, and LinkedIn accounts.
