Commercial flights in loakan airport baguio city will start in december 2022
Baguio city is set to reopen its commercial flight thru Loakan airport this December 2022. The test flights will be Cebu to Baguio route and vice versa. The opening of the airport will have a lot of effects in real estate. Some of these effects are the following:
1. The People all around the country can make Baguio city as their second home. These past years, Most of the home buyers in Baguio are from Luzon since most the reasons of the people buying is for vacation/second home. However, since the airport now will be accessible to different parts of the country, it will be a good chance for the people from Visaya and Mindanao to own a property in the City. This is also the same case as for the locals of Baguio, they can also make Visaya and Mindanao as a choice for their second homes :)
2. When buying a Condominium in Baguio city, it will not be necessary for you to purchase a parking slot anymore specially if you are not from Luzon and one of your biggest reasons is to have your unit rented out short term (example: thru Airbnb). Since you are flying going to Baguio, car won't be of help. So parking is also not needed. Your target market for your unit will also be the people going to Baguio via Plane. In this case, they also don't have car going into the city. It will be a good strategy in Airbnb since you can provide a lower rate as having no parking space.
3. Condo, commercial space and house and lot in Baguio city will surely increase in price as the airport will give way to the increase of accessibility. The demand for sure of housing and real estate properties in the city will sky rocket thus the prices of it will also increase. If you are planning to purchase a property in Baguio, now is the perfect time while the price in the city in general is still low. Make sure to find a good and legit real estate broker in Baguio city when finding a good property.