By Jenniffer B. Austria | Dec. 15, 2014 at 11:35pm [ manilastandardtoday.com ]
Property prices at a new growth area in the southern part of Metro Manila are expected to double in the next five years, a real estate research company said Monday.
Research firm Cuervo Far East said its study showed property prices at the southern Manila west growth area, covering parts of Las Piñas and Muntinlupa on the west section of the South Luzon Expressway, would double by 2019.
The study said the new growth area would experience robust real estate development and infrastructure growth, pushing up property prices to around P100,000 per square meter by 2019.
It said on the average, land value at the southern Manila west growth area would increase by 10 percent to 15 percent annually until 2019.
“The southern Manila WGA was identified based on an active increase in historical market values, posting an average of 20 percent per year since 2009. While for the next five years, we made a conservative projection of a 10 to 15 percent rise but could definitely go further,” Cuervo Far East president and chief executive Jose Maria Fernandez-Cuervo said.