Unfazed by lockdowns, luxury land and condos just got pricier this year

The skyline of Bonifacio Global City or BGC, a growing commercial area in Taguig City.

Greenbulb PR

MANILA, Philippines — Prices of luxury residential spaces continued to appreciate this year despite 19 months of coronavirus lockdowns that have cooled the once hot Philippine property market, real estate brokerage firm Leechiu Property Consultants (LPC) said. 

For instance, land values in Ayala Alabang have reached an all-time high of P200,000 per square meter as of this quarter, up from P150,000 per sqm in the same period last year, LPC reported on Wednesday. This is because “luxury products have the ability to weather downturns,” Tam Angel, LPC’s director for investment sales, said in an online press conference.

“Luxury village continue to increase pricing, but at more conservative pace,” Angel added.

Full Story: https://www.philstar.com/business/2021/12/15/2148177/unfazed-lockdowns-luxury-land-and-condos-just-got-pricier-year