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  • Jao Elegado

Makati: A look into the Metro’s most prime address

Ayala Avenue is often called the Wall Street of the Philippines, making parcels of land in the area one of the most desirable residential developments in the city.

In the stock market, “buy low, sell high” is the golden rule. In real estate, the same principle applies but with one big difference, especially in the current Philippine context: the prices of land almost certainly will not be going down again. If you are looking to invest, that time is now.

With land being a limited resource, its value is expected only to increase, especially with the scarcity of developable land in major cities of the country.

Global real estate services company Colliers’ reveals that as of the second quarter of 2018, the value of prime land in Makati reached P695,000/sq.m., with Fort Bonifacio not far behind at P586,000/sq.m.

“We’re seeing historical highs now in real estate, particularly in office and residential developments. Land values continue to go up, and developers are increasing their prices. There is demand and there are people buying at those prices,” Colliers Philippines deputy managing director Richard Raymundo said.

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