Property markets outside Manila to grow by 2022

Spurred by infrastructure moves and eco-zone incentivisation

Clark Free Port Zone, Angeles, Pampanga. FLORA TIO BORCI/Shutterstock

Various real estate industry segments in key cities and provinces outside Metro Manila will expand and prevail over headwinds in the coming decade, according to a recent report from JLL Philippines via SunStar.

The provinces of Pampanga, Bulacan, Tarlac, Laguna, Cavite and Batangas are forecast to grow their property sectors over the next three years. Laguna, Cavite, Batangas and Bulacan, in particular, are likely to draw significant interest in their residential and industrial segments, while Tarlac will lure more industrial projects.

Among cities, Clark in Pampanga is predicted to be the “next big thing” when it comes to the development of townships or live-work-play communities, the consultancy noted.

More: The Philippine government is losing $589m to outdated property valuation

Spurring these moves are ongoing infrastructure projects under the government’s Build, Build, Build campaign and incentives being offered to manufacturers by special economic zones in these provinces.

“While Metro Manila remains to be the preferred location of businesses, the acceleration of infrastructure is expected to decentralise both foreign and local investments, spilling over the economic and real estate benefits parallel to the direction of the Greater Manila area,” JLL stated.

Proximity of warehouses to seaports or airports primarily factors into locators’ decision to set up shop in areas outside Metro Manila, researchers noted. With a “more fluid” transport system in and out the metropolis and improved infrastructure overall, productivity is likely to increase in the areas, leading to a stronger investment climate for businesses.

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