Which Homes in Cavite Have the Strongest Price Growth?
As more residential buyers look at homes in Southern Luzon, some villages outside of Metro Manila, particularly in Cavite, are reaping the benefits from this "reverse migration," according to a report by Leechiu Property Consultants (LPC).
In the case of the 118-hectare mixed-use estate Forresta in Alabang, its Compound Annual Growth Rate (CAGR) is now at an impressive 14.8 percent. The same upward trend is observed at Ciela at Aera Heights in Carmona, which recorded a CAGR of 11.4 percent. Meanwhile, Maple Grove in General Trias, Riverpark in General Trias, and Arden Botanical Phase 1 in Trece Martires each had a CAGR of 17.8 percent, 26 percent, and 20 percent, respectively.
LPC Director Roy Golez points to city-like conveniences and comforts, less traffic congestion, and infrastructure projects as three of the most common reasons why the South of Manila has become a more than viable option for today's buyer's market. Among the infrastructure projects set for completion from 2024 to 2028 include the Cavite-Laguna Expressway, South Luzon Expressway Toll Road 4, and the LRT-1 Cavite Extension, among others. Following this is the anticipated Bataan-Cavite Interlink Bridge that should be available for use beyond 2028.
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"It's also indicative that the price growth for residential communities south of Metro Manila almost all in two digits," Golez notes. "The demand has shifted from inside Metro Manila to outside of Metro Manila. Most of these subdivisions are concentrated around the CALAX area. This is where you see the big townships."
Potential townships up north, on the other hand, should expect decent interest from home buyers, as well. In fact, Golez says that developers are already looking at Bulacan as a stronger investment hub with the opening of an international airport and the introduction of the North-South commuter railway from Clark to Laguna coming soon enough.
Data from the Bangko Sentral ng Pilipinas earlier this year also suggests that CALABARZON continues to have the largest share of granted residential real estate loans (RRELs) at 34 percent. This is followed by the National Capital Region at 26.3 percent and Central Luzon at 13.3 percent.
