Real Estate has been a great asset, source of income, and investment to each and every one of us. Property and improvements, such as buildings, furnishings, roads, structures, and utility systems, make up real estate. Property rights confer ownership of land, improvements, and environmental resources such as minerals, plants, animals, and water, among other things.
There are types of real estate which serve their own utility and purpose. The types of real estate are Land, Commercial, Residential and Industrial. According to an article written by Nwadike (2021) of Business Yield, “ Land serves as the foundation for all other sorts of real estate.” Property Developers buy land, merge it with multiple properties, and reclassify it to improve density and property value. Properties and lands used for business operations are referred to as commercial property. Shopping malls, local stores, business buildings, parking lots, medical clinics, and hotels are all examples. On the other hand, individuals, families, and groups of people can live in residential real estate. This is the most prevalent sort of estate and the most familiar asset class to most people. Family homes like RFO houses and lots, apartments, condominium units, townhouses, and other forms of living arrangements are all classified as residential. Lastly, the land and structures utilized by industrial firms for operations such as manufacturing, industrial productions, research and development, construction, transportation, logistics, and storehouse are referred to as an industrial real estate.
Real Estate in the Last Decade
The previous decade’s growth and crash cycle will be regarded as a period of modest but sustained real estate market recovery. With numerous foreclosures and distressed properties, the real estate market was still mired in a subprime credit crisis and an economic recession. There were many homes on the market during the recession, with more consumers in tow. Because of foreclosures, the number of homes obtainable was close to a 13-month supply. On the commercial real estate side, the Great Recession may have led to more individuals and families being unable to buy housing units. According to the report Improving America’s Housing 2019, homeowners spent 50% more on renovating in 2017 than they did at the end of 2010. However, economic forecasters predict that the construction boom will peak early in the next decade, owing in part to the planned switch from creating newer homes to buying existing ones. A large number of residences are expected to be put on the market soon.
Real Estate Update in the Southern Luzon
Southern Luzon, mainly Region IV-A, which includes Cavite, Laguna, Batangas, Rizal, and Quezon, has remained remarkably robust, increasing at a rate of roughly 6.3 percent per year from 2016 to 2018, making it one of the country’s fastest-growing regions. Infrastructure developments such as the North Luzon Expressway (NLEX)-South Luzon Expressway (SLEX) Connector Road, which are expected to be finished by 2021, are contributing to the growth. This project, which aims to reduce travel time between the two expressways to just 20 minutes, fuels the demand for industrial space as well as residential and commercial properties. Add to this the unfinished but highly promising Cavite Laguna Expressway (CALAX) that will connect the key cities of Cavite and Laguna to and from the capital region and the Muntinlupa Cavite Expressway (MCX).
The South of Luzon has been a great spot for tourism and real estate investments nowadays. The South Luzon area is one of the closest to the capital. You can readily access all that the city has to offer, from the most fulfilling retail therapy in enormous shopping malls to top performer healthcare services from the country’s premier hospitals, even if you’re outside the city. Numerous landmarks, hospitals, and malls are established as it becomes more developed, which is why residential projects in the south’s major cities, especially in Cavite, are on the rise. Condo for sale in Cavite shows a great increase in the top search in 2019. RFO House and Lot in Cavite is also showing growth earlier this year, the top cities sought in Cavite are revealed by trends in property demand. Bacoor, Tagaytay, General Trias, and Dasmarinas are among the most popular.
Such initiatives have a tremendous multiplier impact, thanks to the government’s signed infrastructure projects program, the build, build, build program. They increase people’s mobility, promote efficient product interchange, and provide a variety of job options. They encourage inclusive growth by enhancing the economy’s productivity in several areas. Building expenditures are one of the most powerful demand generators in the real estate industry. It raises the value of a home. Investors will find fresh chances in areas where new infrastructure projects are being built. Not to mention the most awaited transportation development, the North-South Commuter Railway, this railway line, which is expected to be finished by 2024, will connect cities and villages in Metro Manila, Bulacan, Pampanga, and Laguna. It will connect the PNR North Commuter Line to the PNR South Commuter Line. Many property analysts anticipate it as one of the most significant developments. It will make the work sector more mobile, and therefore more productive, in addition to increasing the value of assets in the indicated locations. Take advantage of these places now, and invest in real estate prospects right away. View homes in upscale communities in Laguna and Cavite. As soon as these infrastructures are done the value of each property in this area will increase and become more expensive. These properties in the end could become an excellent rental investment and could give you great passive income. On the other hand, those who choose low-density locations that offer house and lot type properties with extensive green, open spaces will find environmentally aware developments more appealing, allowing for social distancing norms.
South Luzon is also the perfect place for you. South Luzon shows a remarkable performance when it comes to the real estate industry in today’s time, but sooner or later residential properties here will boom more and be more developed, different infrastructures, malls, hospitals, schools, homes, and many more will be established. As real estate keeps on reaching its peak, numerous real estate companies are also on the move. Crown Asia, the top and leading real estate company here in the Philippines offers a lot of premium good properties like house and lot for sale and condominiums for sale. Incorporated with their house and lots are the great amenities they have installed on it. A property hotspot, South Luzon is your next great choice for real estate investment.
Read more: Why You Should Own a Home in South Luzon
