According to research and consultancy firm Knight Frank, Manila's luxury property market performed best in the world.
In another report, Alabang was featured as one of the world's most promising neighborhoods for 2019.
Dubai: If you’re looking for a business opportunity in a thriving industry, the latest market report by Knight Frank points to luxury homes as a great investment.
In 2018, Manila’s luxury home market saw the most growth in the world, with an 11 percent increase in prices. The report compiled a list of the world’s hottest 100 cities, using each market’s price increase as its main unit of measurement. Manila’s increase is speculated to spring from a six percent growth in the annual GDP and the lack of supply.
Manila is closely followed by Edinburgh, Berlin, Munich, Buenos Aires, and Mexico. American cities Boston, San Francisco, Toronto, and Seattle also make the top 20 and have managed to overtake European cities such as Lisbon, Paris, and Frankfurt.
“We at Ayala Land are extremely glad to read this kind of report and evaluation as it is a clear manifestation of our promise to our investors and potential investors to deliver quality property and luxury investments in the Philippines”,says Janice One, Ayala Land UAE Office Manager.
“We are positioned in building sustainable and high-end communities with Ayala Land Premier maintaining its dominant position in the luxury segment, andAlveo cementing its position as the market leader in the upscale segment. Ayala Land also continues to grow its leasing business through commercial, retail, and office spaces, resorts and hotels and the launch of Seda hotels, the first all-Filipino hotel chain for the urban traveler. New business such as QualiMed, continue to enhance the sustainable communities that underpin Ayala Land’s operations as it enters new growth centers.” she added.
According to research and consultancy firm Knight Frank, Manila's luxury property market performed best in the world.
Manila was the only Asian city on the top ten, apart from Singapore. The report also stated that global hubs that one might expect to perform well in the category, such as New York and London, did not meet expectations.
Looking back at a first quarter market update, the same consultancy reported that Manila owed its economic win to the rise of the ultra-wealthy, or the Filipino Ultra High Net Worth Individuals (UHNWI). The number of these individuals, who are defined as people with a net worth of $30 million or more, went over 300 in 2017. In a market survey, a typical UHNWI owned two to three homes on average. They had also expressed the desire to purchase another home within the country in the next year.
In a separate study ranking the neighborhoods poised for a breakthrough in luxury homes, Alabang was highlighted as Manila’s “next hotspot.” The ongoing infrastructure, such as the Skyway Stage 3 projects which is set to link the North and South Luzon Expressways by mid-2020, are said to entice more luxury property investors.
“With this news and development in the Philippine economy, I can see a lot of investors from the UAE and the Middle East region are becoming more confident to invest in the Philippines and I believe that this trend will be here to stay.”, added Janice Ong.
In 2018, Ayala Land saw an increase by 22% of investors based in the UAE compared to 2017.
For any investment questions in Manila and the Philippines, contact Janice Ong at +971 55 988 6585, email ong.janice@ayalaland-intl.com
AYALA LAND’S VISION
Our vision is to enhance land and enrich lives of more people.
By developing integrated, masterplanned and sustainable mixed-use communities in vibrant growth centers all over the country, we strive to continually elevate the quality of life for all of our customers.
We are a responsible corporate citizen and act with integrity, foresight and prudence.
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