October 17, 2013 9:17 pm [
manilatimes.net ]
by Ritchie A. Horario Reporter
MORE high-rise condominium buildings
will be erected near shopping malls and commercial centers in the metropolis
and other key cities in the country. This, according to Augusto Manalo,
president of the Philippine Constructors Association (PCA), is the trend
nowadays as it is more attractive to prospective buyers.
He explained that more and more people
are giving up their houses usually situated in adjacent provinces like Laguna
and Cavite to purchase condo units in the metropolis.
“What I see, a lot of these are
happening because of the proximity. It’s better to give up their house and buy
condos near their work,” he told The Manila Times in an interview.
He added that with the fast
development of infrastructure, “it already spreads out in the suburban
[areas].”
Manalo cited the fast-growing
construction of high-rise buildings and condominium buildings along EDSA,
particularly near the stations of the Metro Rail Transit (MRT) and shopping
malls.
At the same time, Manalo said that real
estate prices in the Philippines will remain to be attractive to prospective
buyers, since these remain cheaper compared with those of neighboring countries
in Asia like Singapore and Hong Kong.
“There are a lot of condos everywhere,
property prices are relatively cheaper as compared to other areas in the region
like Singapore and Hong Kong,” he added.
When asked why real property prices
remain affordable, Manalo said
that construction materials are also
cheaper.
“The labor is available. Relatively the
construction cost is still good,” he added.
Besides, Manalo added, the competition
is very stiff and that real estate companies are forced to offer affordable
prices just to attract buyers.
“There’s a lot of competition that
makes the prices at bay, and because of the vast supply you cannot really put
up the price,” he added.
With the development in real estate
sector, he said that government should likewise spur the country’s
infrastructure.
“Infrastructure has to cope up with
real estate, you can’t keep on developing without infrastructures like roads,
bridges, airports, etc.,” he said.
In doing this, he said that it is best
and ideal that the private sector and the government join hands, adding that
“infrastructure development should be a combined effort between the government
and contractors.”
He also expressed optimism that the
construction industry will be more robust in the coming years.
“We are hopeful at that. Of course we
are hoping, we have to be optimistic. I think everybody is looking forward to
it,” he said.
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