A Quezon City condo is a good investment

A Quezon City condo is a good investment

Quezon City is the most populous city in the Philippines, and also the largest city inside the Metro Manila (also known as the National Capital Region) area. In this hub, I will discuss the advantages and approach one should take note of when acquiring a condominium in this city for living or investment purposes.

Quezon City is named after former President of the Philippines, President Manuel L. Quezon, who led the country during the Commonwealth era—the time when the Philippines was in transition to become independent from American rule. After World War 2, the city was declared the capital of the country up until 1976, during the Martial Law period.

Since it was master planned to become the capital of the Philippines, most government offices are situated in the area, including the Bureau of Internal Revenue, The Land Transportation Office, the Social Security System, the Housing and Land Use Regulatory Board, The National Telecommunications Commission, among other important government offices which have their main headquarters situated near, or right beside Quezon City Circle, a large park much like New York’s Central Park. Today, in the middle of Quezon City Circle, there is a 66 meter memorial to the late President Quezon, below it housing the remains of the great president himself.

Quezon City, compared to other cities in Metro Manila is less congested and is sparsely developed with more low density compared to high density districts. Though this does not mean that Quezon City does not do well economically, in fact it is regarded as one of the richest cities in the Philippines, and has collected more than 13.69 billion pesos in gross revenue collections last 2012. It is at least six times bigger than Makati, with an area over sixteen thousand hectares thus has by far has a lot of land to develop. It is home to most of the major broadcasting networks such as TV5, ABS-CBN, and GMA Network.

Investing in condominiums in Quezon City

Due to its size and relatively spaced out areas of development in the entire city, it may be hard for new property investors to start in Quezon City compared to other areas. This difficulty is warranted especially when it comes to investing in high-rise residential condominiums, effectively since unlike other smaller cities such as Makati and Bonifacio Global City, there is a lot of land to develop.

Nevertheless, did you know that the property prices in prime districts of Quezon City are at par with the prices in Makati? Therefore, there is evidence for demand in some parts of the city, which give investors a unique position to invest in, especially if they are not interested in the more congested parts of Metro Manila.

Specific Locations to Invest in Quezon City

The best and most invested location would be near Timog Avenue and Tomas Morato Avenue. The intersection, and outlying streets and districts have one of the best property prices in Quezon City. It is a very well known tourist and entertainment destination, with the Tomas Morato strip having several restaurants and commercial areas in which the upper class citizens of the area dine after work. This is also the location where the two largest television networks of the country, ABS-CBN and GMA have their headquarters. It is not a rare thing that this area is also home to several entertainment moguls, who reside in the high end condominiums near the networks. The networks also provide jobs for a lot of young professionals that also would be interested in living near their place of work as well.

Farther south of Tomas Morato Avenue is the New Manila area, which is largely a residential district bordering Tomas Morato. This is home to more affluent residents, who have rather larger lots than other areas of the city. In recent times, this renown of the area has also led some developers to build condominiums in the area, as it is also near the LRT line that crosses Aurora Boulevard.

The mini university belt of Katipunan Avenue is a promising location because there is a lot of demand for students from UP Diliman and Ateneo de Manila University to rent condominiums in the area while attending school. The congestion of traffic during the mornings may lead to some of the can-do families to give their children condo units instead of having to bring them to school during the mornings; more so for children who live in far-flung regions of the country.

Lastly, the area of North EDSA, near SM and Trinoma Mall could prove to be the newest high-rise development in the country, to serve as an offset to traffic all headed south to the Makati business district of Metro Manila. There are very grand plans of building new offices and business spaces, and of course, condominiums in the area. There are some developments existing, and I suggest to the new investor to look into these projects as these might have the best return of investment in Quezon City, and even the entire Metro Manila area.

Reference: HubPages.com

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