One thing that separates Baguio apart from its nearby cities in the Northern Luzon region is the booming industrial growth being experienced by Baguio City. Thanks to a variety of factors coming together, Baguio has become conducive to being a breeding ground for economic and industrial powerhouses seeking a foothold in the Philippines. Is it any wonder that real estate investment in Baguio City is a lucrative business? Real estate is at a premium for any quickly developing region or city – just look at Metro Manila. It isn’t just any condominium in Baguio City, or house and lots in Baguio City either – it’s liveable real estate, with easy access to water and electricity, which is at a premium in a place like Baguio City.
Consider the following: Baguio is home to one of the country’s most profitable and best investment areas, a Philippine Economic Zone Authority (PEZA) accredited business and industrial park called the Baguio City Economic Zone (BCEZ). The PEZA, “tasked to promote investments, extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country”, allows foreign investors focused on exporting access to some of the Philippine’s most strategic locations for business, with Baguio being one of them. Thanks to a combination of an agreeable climate for foreigners, access to mining resources and other hard-to-find natural resources, and a large supply of (local) manpower, there is no shortage to companies seeking to gain a foothold in Baguio’s real estate.
For example, the second largest exporter in the Philippines, Texas Instrument Philippines, is based in Baguio. Built in 1979, Texas Instruments Philippines is the local offshoot of an American company that designs and makes semiconductors, which it sells to electronics designers and manufacturers globally. Texas Instruments Philippines prides itself on being one of the most sophisticated assembly-test sites of TI worldwide, as well as providing quality life and jobs to more Filipinos.
There are numerous other companies based in the economic zone as well, such as Moog Philippines, Inc., Linde Philippines, Inc., LTX Philippines Corporation and Sitel Philippines, Baguio, each of which contributes to the local economy. Whether it be exporting, mining, or even outsourcing, Baguio City’s industry and economy certainly rivals that of a lot of developing cities in the Philippines.
With all of this in mind, is it any surprise that real estate investment in Baguio City is a big deal? Real estate investment matters in quickly developing cities because of a mass influx of people flocking to these cities to seek a livelihood – one only needs to look at Metro Manila for proof. As such, finding living spaces for these cities becomes an important endeavour – house and lots in Baguio City, aimed at families seeking a new place to live in, or even condominiums in Baguio City for the up and coming yuppie entrepreneur or the foreign manager who goes to the Philippines every other month to conduct business. Real estate investment is vital to Baguio City, thanks to all these factors, make no mistake.
A house and lot in Baguio City is an ideal investment for a family living in Baguio – easy access to many of Baguio’s educational facilities for the children, while the parents can easily go to work in one of the many companies and industries based in Baguio. The same is true for owning condominiums in Baguio City, whether for personal use or if you wish to rent it out to people who conduct business in Baguio City. You can’t go wrong with real estate investment in Baguio City.