Investors and home buyers are beginning to look into property options outside of Metro Manila. One of the draws of provincial living is a proximity to nature, a vast expanse of greenery, fresher air, and less congested communities.
Furthermore, investors are attracted to the economic activities that continue to flourish in key provincial cities, which in turn contribute to growing property values. Owing to its emerging business sectors, Lipa is one such location. What does one need to consider when investing in economically-booming, historical Lipa, Batangas? Read on to learn more.
Growing economic activity
A former global coffee center, the first coffee tree in the country was planted in Lipa City. The city’s number of historic churches also earned it the moniker, “Little Rome in the Philippines.”
Lipa City’s rich cultural past is matched by its progressive present. The city owes its economic growth to the business process outsourcing (BPO) industry. As an emerging industrial hub, it is the site of the Lima Technology Center, a PEZA zone. Several commercial establishments have also been built in the area, including major department store chains and groceries, not to mention an increase in residential developments.
As such, the Commission of Information and Communication Technology (ICCT) ranked Lipa 6th among 10 new wave cities that have been identified as alternative investment locations.
Economic growth is always a good thing to know for investors, as it informs the value appreciation of real estate. From an investment perspective, the availability of job opportunities also translates to a larger pool of potential lessees looking to settle in the city. This in turn equates to rental income.
As the old adage goes, when it comes to buying property it’s all about location, location, location. As mentioned in the previous tip, economic viability is a major factor in one’s purchase decision, but so is accessibility.
When looking to invest in Lipa City, consider its relative proximity to Metro Manila, which is about an hour and a half-long drive. Moreover, the city’s extensive road network includes the Southern Tagalog Arterial Road (STAR Tollway), South Luzon Expressway (SLEX), and the Alaminos-Lipa City Road.
Lipa City residents also enjoy access to key establishments for work, study, living, and playing. This includes hospitals like the Mary Mediatrix Center and Lipa Medix Medical Center. There are also numerous academic institutions such as the De La Salle University Lipa, Batangas State University, AMA Computer University, STI College, and New Era University. And finally, the city’s historic and recreational spots including its famed churches, farms, and nature destinations provide plenty of options for locals to explore.
Now that you know what to consider when it comes to a property’s investment potential, look into your practical considerations. If you are an end-user with intentions to build a home for your family, lot size will impact your decision. Your allotted budget will also be contingent on the lot size, as selling prices are computed on the cost per square meter, in addition to other expenses such as government taxes and transfer costs.
If you are looking to build a home to rent out, you can easily advertise the property on various platforms and property listing sites.
The features of the development also come into play. Is there ample space for outdoor activities such as pocket parks to relax and play in, or wide roads where one can walk or jog? How about the amenities? Does the development offer exclusive clubhouses, pool areas, and sports facilities such as gyms and outdoor courts? All these will be vital to your family’s recreational needs, so discuss these features in detail with the development’s sales representative.
Developer’s track record
Finally, purchasing property from a reputed developer will go a long way in ensuring a positive after-sales experience. Are their existing communities well-planned? Perhaps you could check out their mixed-use developments to assess how the residential and commercial areas, as well as offices are laid-out, and more importantly how this contributes to quality of life. For that reason, it also helps to listen to what current investors or homeowners have to say about their overall experience.
You may even look into the architecture and build quality of their vertical developments, such as their existing condominiums. Even if you intend to purchase a residential unit, it helps to ask the sales representative about their condominium developments, such as the finishes and appliances that come with a newly turned-over unit. This speaks volumes about the developer’s attention to detail and quality.
Beyond aesthetic value, consider other features such as safety and security. As a discerning investor, it is only right to have high expectations of the prime piece of real estate you paid for.
Consider value-added services such as property management, especially if you plan to lease out or even sell the property in the future. Some developers provide services that allow you to list your property on the market.
Enjoy the Rockwell lifestyle at Terreno South
When you invest in a property with a reputable developer like Rockwell Land, expect an impressive mix of thoughtful design, exclusivity, safety and security, upscale amenities, and of course the signature Rockwell lifestyle.
Rockwell brings these same distinct features to its first horizontal development in Lipa, Batangas with Terreno South. Featuring 46 hectares of land, choose from carefully-curated lots, set amid a lush backdrop filled with trees and generous open spaces.
Terreno South is strategically located near key locales so you can enjoy convenient living while staying close to nature.
Contact Rockwell to learn more about Terreno South.