Metro Manila continues to dominate the country’s residential property market, as property hunters prefer to live in the nation’s capital region, according to a research by online agent Lamudi Philippines.
This was one of the findings of Lamudi Philippines’ Whitepaper research 2015.
Based on a survey conducted by Lamudi, more than half of its respondents, specifically, 55.05 percent, said Metro Manila is their preferred area for property purchase.
Following Metro Manila, though not closely, is Cebu province, with 6.97-percent share, and the province of Cavite, with 6.73 percent.
“It should be noted that these provinces are home to highly populated and popular cities for homebuyers, including Cebu City, Lapu-Lapu, and Mandaue (Cebu Province), and Bacoor, Imus, and Dasmariñas (Cavite),” Lamudi said.
Meanwhile, under Metro Manila, Quezon City was cited as the most preferred city to live in, as 19.47 percent of the respondents indicated.
Next to QC was Makati, with 8.65 percent, and Manila, with 8.41 percent.
Quezon City was also cited as one of most affordable locations for a house, as the average price of a house in the city is around P14.75 million.
This is slightly more expensive than in Tagaytay and Parañaque, which were the most affordable locations, with average home prices of P13.35 million and P12.18 million, respectively.
In contrast, Makati City was the most expensive location, with the average cost of a house is P217.3 million.
According to Rodel Amas, head of content and public relations of Lamudi Philippines, aside from its more affordable price, Quezon City is popular among property hunters because of the various options the city offers.
“There’s a huge collection of properties in Quezon City,” Amas said.