Baguio City: A Worthwhile Investment?
Consider Metro Manila: a sprawling, bustling metropolitan area, one of the most densely populated regions in the Philippines, with numerous economic and political infrastructures jam-packed into the numerous cities that encompass the great Metro Manila area. It comes as no surprise that the region, formally known as the National Capital Region (NCR), would be the capital of the Philippines and a cradle of many of its industries and political power, as many savvy entrepreneurs have multiple investments placed in the city.
With roughly 640 square kilometres of real estate, or 64,000 hectares of land comprising Metro Manila, one would think that the vast amounts of real estate would be enough to house all the businesses, residents, and many more that try to set up shop in Metro Manila, but in truth, Metro Manila is extremely short on space. Prices for condominiums and house and lots are on the rise, valuable real estate and land is short, and there simply is not enough living space and real estate to be home to an estimated 12 million people, not to mention the numerous industries, landmarks, and political infrastructure housed in the region. It’s no wonder that real estate investment in Metro Manila is a very lucrative and profitable idea, what with the very real threat of overpopulation and diminishing real estate space in the region.
Where does that leave the prospective resident of Baguio City? There is no denying that Baguio is shaping up to be Northern Luzon’s equivalent of Metro Manila – a cradle of foreign and national industries, a magnet for tourists both foreign and domestic, an epicentre of education thanks to the numerous Universities housed within the 5,750 hectares of Baguio City. While certainly not as sprawling as the numerous cities that comprise Metro Manila, Baguio nevertheless attracts numerous people to its welcoming arms – and using up land, living space, and real estate for condominiums and house and lots, as a result.
Because of this, the availability of living space – affordable condominiums, house and lots – are at a premium in Baguio, as people from all over Northern Luzon flock to Baguio in order to study, seek employment, or establish their own businesses. This means that real estate is a worthwhile investment in Baguio – prime living space at a good location and easy access to all the necessities is at a premium, what with Baguio primarily being undeveloped lands and hilly, forested areas. It makes finding good living conditions, whether it is a house and lot for a family or a condominium for the up and coming yuppie out to make a name for himself, a difficult endeavour – and yet, it remains a worthwhile goal to look into real estate investment in Baguio City.
The strategic advantages of having prime real estate in Baguio City cannot be denied – either to be used as personal living space or to be leased out to buyers who wish to stay in Baguio City. As a hub for aspiring students, families seeking an urbane, yet oddly peaceful and natural living space, as well as businesses, having some investments in real estate in Baguio City is a good idea. Having easy access to condominiums and house and lots in strategic locations around and inside Baguio City means a strong foothold into Baguio City itself, long before anyone else.