We often see the south side of Metro Manila as sort of detached from central metro affairs. But this fast-developing urban landscape has key features that make it a worthy place to invest in property.
Apart from being a transit-oriented area, these southern metropolitan areas are now equipped with the infrastructure, coveted features, and supply to become an even more attractive place to invest in as we transition into our next residential boom.
In particular, this article is going to be talking about the cities of Parañaque, Las Piñas, and Muntinlupa. New condominium developments from the likes of Avida and SMDC have been coming in recent years, with some projects set for completion very soon.
Arguably the area’s biggest draw for potential renters and investors is that they get to invest in property near international airports and major thoroughfares heading into CALABARZON and Central Manila. The completion of flagship infrastructure projects like the Metro Manila Skyway Stage 3, Muntinlupa–Cavite Expressway (MCX), and LRT-1 Extension help, too.
For Muntinlupa, the appeal of buying a home here is also compounded by the e-commerce growth in the area. And with the middle-income to luxury markets remaining stable throughout the pandemic, condos here should get good rental yields in the near future. In Metro Manila, the Global Property Guide saw yields ranging from 7.01% on condo units of 45 sqm. to 7.16% on 80 sqm. last July 2021.
This can be expected of Las Piñas, as well, which has always been known as a great place to buy real estate. By the end of 2020, the Leechiu Property Consultants conducted a study of the real estate market in Las Piñas City. The research showed that the highest premium for condos was for projects within close proximity from SM Southmall. In addition, condo units in the city also have the highest price among residential developments at about P260,000 per sqm.
Meanwhile, Parañaque has remained strong despite the challenges of the pandemic. In the first quarter of 2021, Parañaque was also the only city in the metro that recorded a year-on-year growth rate of 4.4%, according to the Global Property Guide.
Where To Look
In a report released by the Department of Finance’s Bureau of Local Government Finance last December 2021, Parañaque was ranked as the fifth richest city in the Philippines, earning roughly P6.3 billion in local revenue last year.
For those looking to reside in Parañaque, this should also mean stability in the next years to come. Projects like SMDC’s Field Residences and Avida Towers Sucat offer great suburban environments for young professionals and families.
Situated near SM Sucat, these properties also have direct access to international and domestic airports. A studio or one-bedroom unit here can be rented out for another income stream. Property prices here range from ₱3,948,300 to ₱7,875,000.
Those looking for property investments in the Las Piñas can start their search with condo developments near SM Southmall, which are priced 68% higher per sqm. than properties farther away from the establishment.
End-users who look to reside in Las Piñas should check out The Hermosa and South 2 Residences. Priced from ₱3,687,000 to ₱8,224,000, studio, one-bedroom, and two-bedroom units at these projects mean properties located near transport hubs, financial districts, and major road networks to the south. A 25-sqm. one-bedroom space with a balcony, for instance, can be yours for roughly ₱12,000 a month.
Meanwhile, in Muntinlupa, apart from properties in Alabang, preselling projects that offer access to the new skyway and the area’s local business district.
Preselling mixed-use developments like Twin Residences and Avida Towers Ardane should be ideal property investments here. Retirees and young professionals looking to reside in Muntinlupa value proximity to Alabang, properties with recreational facilities, and accessibility to South Luzon. Unit prices for studio and one-bedroom spaces here range from ₱3,560,000 to ₱7,719,040. At Twin Residences, a 20-sqm. studio unit can be yours for about ₱8,000 a month.
Conclusion
Cities on the southern side of Metro Manila have consistently held stable growth rates even through the pandemic. And while vacancy rates in some areas increased during lockdowns, residential takeup should start bouncing back beginning next year with the return of office leasing and demand for transit-oriented locations.
Are you looking to buy a home in and around these locations? Book a free consultation with an Ohmyhome property agent today to get started! For more information on the best and latest property listings nationwide and how our Ohmyhome’s online ecosystem helps investors like you, visit Ohmyhome.com or download the official Ohmyhome app.
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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.
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