Follow us on
Real Estate + Properties
Real Estate News Roundup (May 28 to June 3, 2019)
In the real estate spotlight: Amaia's new project in Quezon City and Arcadia's global index
By: Shanice Reyes | May 28, 2019
Affordable mid-rise condominiums accessible to public transportations are in the works.
Having easy access to transportation, business hubs, and offices is one of the main factors to be considered when choosing a home. In Quezon City, which is currently busy with the non-stop construction of subways and railways, Amaia is proud to announce its ideally located condominium near public transportation. Meanwhile, as regards to construction materials, Manila remains inexpensive, as shown in the first quarter report for 2019. Keep reading to get the complete details of these real estate and property news.
Project Announcement: Amaia plans new condominium project in Quezon City
A new mid-rise condominium is set to be launched by Amaia Land Inc., enlarging its capacity in Quezon City. The new condominium will be located around the area of Quirino Highway and Tandang Sora Avenue in Quezon City.
Sitting on a 1.7-hectare prime land, the condo gives future settlers easy access to shopping malls, universities, hospitals, government offices, and Quezon City’s entertainment and restaurant hub. A short drive or commute to Quezon City’s business district is also one of the perks for future settlers.
The well-designed building will stand nine floors tall, with a total of 208 cozy and elegant units. It will house one-bedroom, two-bedroom, and three-bedroom units with floor areas varying from 24 square meters to 46 square meters.
Facilities will include a swimming pool and a basketball court perfect for athletic residents. It will also feature a function room for business meetings and social events. Overall, the property aims to build a peaceful community for its residents, so aspiring homeowners may soon experience a beneficial lifestyle and clean surroundings even in a high-density setting.
Amaia Land Inc. is known to deliver affordable and well-grounded developments that envision to satisfy its customers. The developer will commence work on its new project within the second quarter. The pre-selling rate of a basic unit is PhP2 million.
Related News: Manila remains cheap in terms of building costs
Consultancy firm Arcadia announced in its global index of construction costs that Manila continues to be cheap in terms of building costs. In 2019, it ranked 82nd among 100 cities when it comes to building expenses. In Asia, the Philippines ranked 6th in the International Construction Costs Comparison 2019 after Hong Kong, Macau, Tokyo, Singapore, and Seoul.
The report assessed 100 cities worldwide during the first quarter of 2019, using 20 existing building types.
In 2018, the Philippines’ gross domestic product (GDP) grew over 6%, maintaining its place as one of the fastest booming economies in Asia. The country has had a remarkable increase in the construction sector especially in infrastructure, residential and commercial real estate. The rise of tourism in the Philippines has also led to more commercial properties.
Arcadia also stated that the national government's assertive infrastructure program has something to do with the Philippines’ relative cheapness. The consultancy firm expects the construction market to remain solid in 2019 and 2020 due to existing government and private investments in major projects.
Meanwhile, New York, San Francisco, Hong Kong, Copenhagen, and Geneva get the spot for the most high-priced cities for construction. On the other hand, the most low-priced cities are Bengaluru, New Delhi, Mumbai, Kuala Lumpur, and Ho Chi Minh.
To get more real estate tips and news, visit Yoorekka!
Sources:
[1] http://bit.ly/2JYKVNG
[2] http://bit.ly/2HyOPvn
About Shanice Reyes
Shanice Reyes writes to buy herself good coffee and bike parts. When she's not writing, you can find her playing Ultimate Frisbee, traveling to new places, or hanging out with her dogs and tarantulas. Though she has an irrational fear of heights, she'd love to try sky-diving one day.
Learn more stories on:
Location Tags:
Disclaimer: All articles in the Consumers Magazine of Yoorekka are
for general information and entertainment purposes only. Although
careful research has been made in writing them, Yoorekka does not
make any warranty about the completeness and accuracy of all
information presented in our articles. Our content is not intended
to be used in place of legal, medical, or any professional advice.
ALSO READ
CATEGORIES
VIDEO MARKET PLACE
FOLLOW US ON
MORE STORIES AROUND THE PHILIPPINES
