Translate

Thursday, April 5, 2012

Metro Manila’s university belt ‘the most sought after’ location for rental homes


By: Evelyn L. Aguinaldo / Author / Investor / Cyber Real Estate Property Seller

Transactions in the Philippines residential leasing market picked up significantly during pre-enrollments of up-coming students in May-June each year as several foreigners, Filipino foreign dependents as to those well-to-do provincial-based students find housing for their continued studies in the prime cities particularly within the university belt areas in Metro Manila, as I noticed on my leasing business transactions nowadays.

“The location most in demand is in the university belt area particularly within the vicinity of the University of Santo Tomas, University of the East, Far-Eastern University, San Sebastian College, San Beda College and Centro Escolar University in Sampaloc, Manila.

In Taft Avenue, De La Salle University, Philippine Women’s University, Philippine Christian University, Saint Benilde College, Saint Scholastica’s College, Saint Paul College & the University the Philippines comprises the university belt area.

Whereas in Katipunan Avenue in Quezon City is where Ateneo De Manila University, Miriam College and the University of the Philippines continues to be the University belt’s prime development for many students.

CAMELLA Condo Homes, Katipunan Avenue Quezon City

The average rental rate for a 16.5 sq. mtrs studio pad condo unit at the UniversityTower Manila during the first quarter of 2012 was Php 9, 000.00 to Php 12, 500.00 a month while a 1-bedroom condo unit of 22 sq. mtrs was Php 18, 000.00 a month. The sought after studio pad condo unit of 24 sq. mtrs – that can be expanded as 1-bedroom at the Pacific Grand Tower and is strategically located near to UST’s Hospital building was priced at Php 18, 500.00 monthly.

“The cheapest condo rental is found at the Espana Tower, near Mabuhay rotunda where a fully-furnished 22 sq. mtrs studio unit is priced at Php 12, 500.00 to Php 15, 000 per month. España Tower is reviewers’ paradise because of rental affordability as well as being near to most review centers in Manila. 

University Belt "best" students' condo for investment & residences  

Rental rates depend upon the furnishing offered by the lessor, for high-end condo units in Makati financial district as in the Fort Global city area commands a much higher price.
“If demand continues at this level, and, assuming no new residential buildings in phases are delivered during the school opening on June 2012, rental rates for the best-configured condo & apartments may witness a slight increase. However, several condominiums, apartments, and dormitories across all areas of Metro Manila and all other progressive cities in the Philippines will become more affordable because of continuous constructions activities of prime-condo developers in these areas.

Several condo units at the University belt are now on its finishing stage namely: the University Tower II in Galicia Street, Pacific Grand Tower II in Dapitan Street and Crown Tower in P. Campa Street – all mentioned condo towers are located in Sampaloc, Manila and One Archers place in Taft Avenue, Manila is now ready for occupancy as well.

Fully Furnished Condo @ AURORA HEIGHTS Residences, QC

Up-coming and under-construction university belt condo in or around the university belt areas are as follows: University Tower P. Noval Manila, Camella Condo Homes Taft Avenue Manila, Camella Condo Homes Katipunan Avenue Quezon City, SM Blue Residences Katipunan Avenue Quezon City and Aurora Heights Loyola Quezon City are amongst the few condo buildings that will cater to the housing needs of students.

Apart from rental homes, the residential condo sales market saw improved levels of inquiries during the first quarter of this year as investors, eyeing the Philippines promising medium-to-long term capital appreciation prospects, sought alternative investment opportunities to cash reserves.

SM Blue Residences, Katipunan Avenue Quezon City

The majority of inquiries were from Overseas Foreign Workers (OFWs) all over the world, Filipinos with dual residency status outside the Philippines - particularly from the US / Canada sector and local investors seeking to purchase a property from reputed developers in the Philippines.

Inquiries continued to be for residential purposes ranging from a studio pad and 1-bedroom condo unit both in rentals and sales. This segment of the market is relatively undersupplied compared to prime, shell and core offices that are available today.


CLICK Pic for bigger image




No comments:

Post a Comment