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In this outline you will see the major events in Philippine history and their effects on Philippine real estate in the past, the present and how they will shape the future.
The Past
- In the 1960s, the center of trade and industry was in Escolta in Manila. At that time, areas like Makati, Pasig were grasslands and the price of land in those areas were at P30 per sq.m. EDSA was a two lane dirt road.
- 1970s - EDSA became the major highway and areas along it like Cubao and Makati began to flourish. Makati became the business district.
- 1972 - Declaration of Martial Law.
- Metropolitan Manila was created as a region to be known as Region IV, later called National Capital Region (NCR) by Presidential Decree No. 879. Towns like Pasig became municipalities of Metro Manila.
- CALABARZON (Cavite, Laguna, Batangas, Rizal and Quezon) has been designated by the government to be the next area of development.
- Development of the North and South Luzon Expressway and Marcos Highways.
- 1986 - EDSA People Power 1.
- 1990s - Construction of highways like the C-5, Metro Manila Skyway, coastal roads and fly-overs. Construction of the Light Rail Transit and Metro Rail Transit.
- 2001 - EDSA People Power 2.
- Just as what happened with the EDSA highway, areas along the C-5 road like Fort Bonificio in Taguig and Libis in Quezon City started to flourish.
The Present
- Metro Manila - Makati is now at around P150,000 per sq.m.
- Pasig - Ortigas center is now a booming commercial and residential area with its own skyline.
- Fort Bonifacio in Taguig is poised for major development of office and apartment buildings and is considered to be the next Makati.
- The CALABARZON provinces are developing self-contained communities with the rise of subdivisions with residences, office buildings, schools, shopping centers, recreation and churches.
- Tagaytay is no longer just a vacation place but is also becoming a permanent place of residence.
- The Ninoy Aquino International Airport 3 will soon open.
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The Department of Public Works and Highways has prioritized more road projects in the CALABARZON area such as the:
Southern Tagalog Arterial Road (STAR) - a 20 km. 2 lane highway from Lipa to Batangas City, to be opened to traffic within 1 year connecting the already completed 20 km. expressway from Sto. Tomas to Lipa.
Manila-Cavite Toll Expressway - 7 km. 4-lane Zapote to Kawit segment
South Luzon Expressway Extension -
Phase I: Alabang Viaduct Rehabilitation and Calamba-Sto. Tomas Extension
Phase II: Alabang-Calamba Widening and Rehabilitation. The project will undertake full rehabilitation, upgrading and expansion from 4-6 lanes of 28.6 km road.
Phase III: Calamba-Sto. Tomas Widening. Construction of additional 7.8 km. 2-lanes.
Phase IV: Sto. Tomas-Lucena. Initially 2 out of 4 lanes and is 56.6 km. road.C-6 - a 48 km. four-lane tollway that will link SLEX (at Alabang) and NLEX (at Meycauayan), via Taguig, Taytay, Antipolo, Marikina, San Mateo, Rodriguez and San Jose del Monte.
CALABARZON Expressway - For feasibility study by the Philippine Infrastructure Corporation. New North-South roadline between Noveleta and Tagaytay City located west of Aguinaldo Highway with a total road length of 50 km. To provide alternate route and congestion relief to Aguinaldo Highway for commuters and industrial products.
Metro Manila Skyway Extension - Stage II: Bicutan to Alabang
The Future
Expect progress to continue in Metro Manila and out towards CALABARZON. As more highways are being constructed, more communities will be developed along them.
Conclusion
| Despite the Martial Law, coup d' etats and People Power revolutions, Real estate in the Philippines has been a slow and steady development, as in most countries, making it a good long term investment. Presidential Decrees and priority projects have specified which regions the Philippine Government intends to develop. The real estate projects developed and marketed by Fil-Estate are right at the heart of these regions. Don't get left behind waiting to buy future prime locations when prices are already sky-high. Take advantage of the low prices now! |
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