Build it and they will come: Exploring North Luzon's property viability

The Philippine property market continues to evolve. Within the capital region, we have seen an aggressive development of satellite communities that serve the residential, office space, and retail requirements of an immediate or captured market.

- JOEY ROI BONDOC

These integrated communities are found not just in central business districts (CBDs) but also in fringe locations.

Colliers believes that the pronounced development of such townships in the peripheries of CBDs is being driven largely by the lack of developable land in primary business hubs and the continued surge in land values.

What's interesting is that this massive development of township projects is prevalent not just in Metro Manila. Over the past couple of decades, we have seen a ramped-up development of integrated townships in key areas outside of the capital region. From central to southern Luzon, real estate firms are aggressively looking for new regions viable for property development.