Ortigas or BGC? BGC or Ortigas? Which location offers better investment opportunities for you? Would you prefer the emerging technology hub that is Bonifacio Global City? Or, would you prefer the less frenetic but vibrant atmosphere of Ortigas? Both locations offer the comforts of a modern urban lifestyle. Of course, they also have slight differences when it comes to certain features. Let’s take a closer look at both districts and see how they stack against each other.
Ortigas or BGC: Proximity and Access
Ortigas Center is closer to the actual heart of Metro Manila compared to BGC. The area encompasses territories held by Pasig, Mandaluyong, and even Quezon City. In addition, Ortigas offers better access to nearby cities such as San Juan, Marikina, Cainta. Transport-wise, Ortigas is home to a number of major transportation hubs, including bus routes and the MRT. Major roadways like EDSA, C-5, and Ortigas Avenue also bisect the area. In addition, residents from nearby Rizal have direct access to Ortigas as well.
Meanwhile, Bonifacio Global City also boasts of an excellent location. However, accessing the area via public transportation can pose a slightly bigger challenge compared to Ortigas. At present, railways do not offer direct access to BGC. At the same time, commuters from cities outside of Makati might need to take one or two additional hops to reach the area.
Proximity to nearby cities offers a distinct advantage: better access to the labor market. Workers who live in nearby cities are more likely to consider workplace accessibility when applying for jobs. When choosing jobs, most people will take commute times and cost into consideration. For those with private vehicles, it’s a wash between the two districts. If you have a car, you can easily go to and from Ortigas and BGC. In both areas, and just like other business districts, parking fees might be more costly than expected.
Ortigas or BGC: Basic Services and Affordability
When it comes to modern lifestyles, Ortigas and BGC provide the infrastructure and amenities that define modern living. Supplies of basic utilities such as electricity and water remain plentiful. Internet access and cellular signals are widely available. Basic services such as police, traffic enforcement, social services, and garbage collection are better. You can’t go wrong choosing Ortigas or BGC.
However, buying property located in Ortigas is much more affordable compared to BGC. According to Statista, the median cost of residential properties in Ortigas is P207.310/sqm. Meanwhile, a similar residence in Bonifacio Global City fetches an average price of P250,690. Considering that both areas offer the convenience of modern living, the price difference may tilt investors into favoring Ortigas.
Ortigas or BGC: Shopping and Entertainment
At first glance, BGC seems the clear winner due to the presence of ritzy brands and large entertainment complexes. However, don’t count Ortigas out just yet, as it’s home to a number of prominent retail, leisure, and hospitality suites. Ortigas is one of the few places where you can find the presence of all major retailers: Ayala Malls, Robinsons Malls, Rustan’s (Shangri-La), and SM Malls. In addition, Ortigas Land also has its own giant mall Estancia set in Capitol Commons. This means that most of the fine dining and retail establishments you can think of will probably have a branch in both locations.
Ortigas or BGC: Vacancy Rates
Another metric you can use when comparing location is the vacancy rate. However, vacancy isn’t simply about the number of housing units available for renters or investors at a given time. For example, cities that have little building activity over the past few months will always have lower vacancy rates. You should also consider the number of ongoing and recently turned-over property projects.
According to Colliers, both Ortigas Center and BGC reported declining office vacancy rates beginning the third quarter of 2022. In fact, they’re the only two business districts with lower availability (15.6% in the 3Q 2022 compared to 16.4% the previous quarter). Amazingly, this happened even as Ortigas reported that its office rates improved to P650 – P1,000/sqm compared to P650-P900 a quarter ago. As of 3Q 2022, Ortigas firmly holds 14% of all office vacancy rates in the entire Metro Manila.
What does this mean? It means that more and more businesses are choosing to open their offices in Ortigas and BGC compared to the other districts. For investors, this means that there is a greater chance that your office properties will have tenants. Consequently, demand for residential units will also increase as many workers will seek nearby shelter in order to escape long commute times. With Ortigas properties sporting a lower price, the former has a slight advantage going for it.
So, Ortigas or BGC?
We’re not discounting the fact that BGC is a relatively new district that’s buzzing with excitement at the moment. Its proximity to the airport, excellent urban planning, and exciting nightlife all point to a very bright future. However, all these advantages push the price of properties to much higher rates. This can sideline all but the big players and highly-liquid investors. If you want more bang for the buck as an investor, Ortigas Center properties might offer better value due to its lower costs.
Meanwhile, Ortigas Center is teeming with development at present. Ortigas Land, the developer that originally envisioned the area as a future business center, continues to launch a mix of office and residential developments. Among their exciting projects is Olin at Jade Drive, a residential enclave featuring studio and one-bedroom units designed with the mobile employee in mind.
Looking for Properties in Ortigas? Let Ohmyhome Show You the Way Home
Ohmyhome can help you choose the best units at Olin at Jade Drive or other Ortigas developments. Or, if you prefer other projects, the country’s largest pre-selling property portal contains over 80,000 homes from over 180 of the country’s top developers. In addition, our staff of real estate professionals will be more than happy to help you out in getting the best deals, getting your requirements in order, and getting great financing options. Simply visit the Ohmyhome site and start browsing for your dream home!
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