A house at Loyola Heights in Quezon City cost P34.32 million on average as of July 2017, while a similar average-priced property at Corinthian Gardens cost P134.1 million.
Most Filipinos can only dream about living in these subdivisions, but there are other good options for high-class living in the city without paying a fortune. For instance, a condo for sale in QC might be a cheaper option.
Condominium units have become a popular choice for residential properties among Filipinos, particularly among millennials. According to Dot Property Philippines, more people have used the Internet to search for available condos either for rent or sale.
This manifested through the online property portal’s more than 1 million user visits between May and June. Millennials, or those between 25 and 36 years old, accounted for over 60% of Internet inquiries. The percentage might soon increase in the future, as the age group would comprise 70% of the workforce by 2030. However, prices in luxury communities in Metro Manila might also be higher at the same time.
Makati City’s Forbes Park has been a perennially expensive place to live in Metro Manila. An average home in this subdivision costs more than half a billion pesos. The staggering amount of a single property seems unimaginable for many of us, even for those who have won the lottery.
The high price of stand-alone houses in urban areas has led to the rise of condominium buildings, where residents can still enjoy a city lifestyle near business centers and schools among other amenities. In Quezon City, some developers have launched mixed-use projects to accommodate the preference of millennials, who aren’t keen on spending a lot of money on houses.
Would you buy a house in a high-end subdivision if you could afford it? Think about the money you would save by spending on a condominium instead.