Located southeast of Metro Manila, Laguna is a province in the Philippines belonging to the CALABARZON region or Region IV-A in Luzon. With an area of 740.49 square meters, it is home to 3,035,081 people as of the 2015 census and is the third largest province in the country out of eighty-one.
Considering its close proximity to Metro Manila, what is the status of the real estate market in the province? Would it be worth it to purchase a house and lot for sale in Laguna? This blog will give you a brief yet detailed overview of Laguna Philippines real estate market, highlighting important points along the way. So if this is in the scope of your interest, then read on.
Overview of Laguna’s Real Estate Market
CALABARZON has been eyed as a top industrial hub
On April 28, the 2022 CALABARZON Business Conference organized by the Italian Chamber of Commerce in the Philippines (ICCP) commenced virtually with the participation of local and foreign business groups from France, Austria, Spain, the Netherlands, and Nordic countries. The conference was arranged to showcase business opportunities in Cavite, Laguna, Batangas, Rizal, and Quezon (CALABARZON).
According to the Manila Times (2022), more investors are expected to come and do business in Region IV-A as the region is seen to be solidifying its position as the leading manufacturing and industrial hub of the Philippines. As per Architect Jun Palafox who spoke at the conference, the population in CALABARZON is anticipated to grow from 16 to 37 million by 2050. With this huge growth in residents, companies and investors alike can take this great opportunity to establish a business in this particularly thriving part of the country.
Growing demand for residential developments in Laguna
In spite of the pandemic, Colliers Philippines observed consistent interest in house and lot and lot-only developments outside Metro Manila in 2021. Among the most preferred localities are key urban districts in north and south Luzon, including Laguna, Pampanga, Tarlac, Bulacan, Cavite, especially Tagaytay, and Batangas, wherein residential projects will be around 86 to 97 percent sold by the end of 2021. Meanwhile, demand for condo properties is also on the rise among key cities like Laguna and Iloilo.
Roy Golez, director of research and consultancy at Leechiu Property Consultants, stated that the increase in demand for these projects in Laguna is a result of the industrial parks and new infrastructure initiatives that have increased connection and accessibility in the province. With the current high demand in real estate that even the pandemic did not stop, it is a desirable time to invest as real estate values have continuously grown even during the COVID-19 pandemic.
With the ongoing high demand in the real estate market, now is a good moment to invest as the COVID-19 pandemic did not stop the continuous rise of real estate values. According to Business World Publishing, Mr. Golez stated “ This gives buyers the reassurance that investments made in these projects will likewise continue to grow… Demand for housing today is too huge and it will continue to be high.”
He then went on and said, “ Buying a real estate property provides an opportunity for buyers to help the country. Investments in real estate have six times multiple in the economy. One peso spent in real estate translates to six pesos contribution to the economy.”
Attracting foreign investors in the Detroit City of the Philippines
Home to the largest lake in the country, Laguna de Bay, Laguna is made up of mountainous and hilly terrain on the eastern side while it is mainly lowland in the west—making way for Laguna’s agriculture whose main products are rice and coconut. On the same level, the manufacturing industry is also big in the area with outputs mainly vehicles and electronics, among others. Laguna is otherwise called the “Detroit City of the Philippines” as major automotive assemblers in the country flock to the said province. With a huge number of industrial estates and economic zones in the area, numerous human resources are available that make up the manufacturing and services industries’ operations.
Going back to the 2022 CALABARZON Business Conference, the online forum was successful in attracting more European businesses to explore the many opportunities in the region.
Is It Worth It to Purchase a House and Lot for Sale in Laguna?
After reading the overview of the real estate market of Laguna, what do you think? Is buying a house and lot for sale in Laguna a good investment and does it project your dream life? Well, the answer can be quite subjective but if all the related factors of living prosperously are weighed, the answer could be yes! Here are some of the reasons why:
Close proximity to Metro Manila
With its close proximity to the cities of the metro like Muntinlupa and Las Pinas, of around two hours of travel time, Laguna serves as one of the retention ponds for Metro Manila’s overflowing urbanization and industrialization, together with its neighboring provinces in CALABARZON. With the rise of better public transportation and point-to-point (P2P) transport services, traveling to and from the two regions is now a great convenience, and city life does not seem so far. Add here the fact that it is connected by expressways such as the South Luzon Expressway and the Cavite-Laguna Expressway, Modern conveniences found in cities such as Makati City are now a minute’s drive away.
Increasing demand for real estate in the area
As the economy is going back to its normal course while it slowly recovers from the pandemic, the existing demand for house and lot for sale in Laguna is just going to increase in the future. Therefore, it is safe to assume that the real estate market in the province is flourishing and will continue to be in the years to come. As such, while condo, house and lot, and other properties’ prices are still lower, investing in a house and lot for sale in Laguna is a wise move. These communities also have beautiful amenities such as a swimming pool and fitness areas.
Booming business hubs and economic parks
With the lively commercial hubs and economic parks that will continue to expand, having the opportunity to settle in a strategic location will be highly beneficial in the long run. Remember that when availing a condo for sale or a house and lot for sale, it is essential to assess the location, ensuring its competitiveness in the long run and whether it has all the essentials from major establishments to business offices. With Laguna having industrial, business, and lifestyle Laguna’s locations offer a good real estate investment opportunity.
Do you think the provincial economy is good? Will it be better in the following years? Will there be new developments? Do you see any potential growth in the market that you can benefit from? After doing thorough research and assessment, if the answer to all of these is yes, then you may be on the right path. Investing in a long-lasting community could make your expenditure worth it.
Make an investment now while you still can and you never know; Laguna living—may it be in San Pedro Laguna, Calamba City, Santa Rosa, Cabuyao, or Los Banos—may just be your dream suburban lifestyle.
Read more: Reasons Why Laguna is the Next Booming District Outside the Metro
