‘Metro Manila properties’ value rising at 7% yearly’

Metro Manila

DUBAI: Properties in Metro Manila have been increasing in value for the past five eyars at an annual rate of seven percent, according to Ortigas Co. a pioneer in the Philippines’ real estate industry.

“Although the appreciation of the properties is still dependent on the country’s economic movement, based on the historical data, the properties in Metro Manila for the past five years have been appreciating at a rate of 7 percent per annum,” Trina Chan, Ortigas and Co. vice president for sales told The Filipino Times in an email interview from Manila She added that an annual growth rate of five percent is expected for properties located in key business districts.

Citing data from Colliers International, a global real property think tank, Chan said the value of properties in Makati CBD, Ortigas Center and Fort Bonifacio increased by an average of some 5.20 percent in the second quarter of the year compared to the same period last year.

According to Colliers, three bedroom Makati CBD properties had a starting price of $2,215 in the second quarter of 2015; for the same period International, a global real property think tank, Chan said the value of properties in Makati CBD, Ortigas Center and Fort Bonifacio increased by an average of some 5.20 percent in the second quarter of the year compared to the same period last year.

According to Colliers, three bedroom Makati CBD properties had a starting price of $2,215 in the second quarter of 2015; for the same period

this year, the amount has increased by 5.77 percent to $2,342. Three bedroom units in Ortigas Center had a starting price of $2,534 in the second quarter of 2015; for the same period this year, the price has increased 5.32 percent to $2,683; while those in Fort Bonifacio increased to $2,555 or by 5.09 percent over last year’s $2,427, also according to Colliers International.

Source: http://filipinotimes.ae/news/2016/07/06/metro-manila-properties-value-rising-at-7-yearly/