Many Filipinos residing in Metro Manila and nearby provinces eagerly await the completion of the Unified Grand Central Station in Quezon City’s North Triangle. After all, the opening of this new terminal promises to bring relief to thousands of commuters in the metropolis. Once completed later this decade, the terminal will house the Light Rail Transit Line 1 (LRT-1), the Metro Rail Transit Line 3 (MRT-3), the Metro Rail Transit Line 7 (MRT-7), and the Metro Manila Subway. Public commuters can breathe easier knowing there are alternative modes of transport they can rely on to get to various areas aside from grueling bus or jeepney rides. Meanwhile, private car owners would be delighted to find the roads less congested if the trains started running on time. Meanwhile, developers and retail businesses foresee a rise in real estate market prices and hope to cash in before it’s too late.
There are two basic market factors at work in places like the North Triangle of Quezon City. First is supply and demand. When buyers outnumber sellers, demand goes up as well as prices. Second, we look at the most basic law in real estate: location, location, location. Property prices are higher at places where people are more likely to stay. Hence, city properties are higher compared to rural areas. And in the case of a sprawling metropolis like Metro Manila, the best locations in the city are highly accessible via public transport, private cars, by bike, and even by foot . Additionally, important resources such as electricity, water, and internet access are continuously available. Once the Quezon City Unified Grand Central Station becomes fully operational, it will most likely grow into a massive hub of activity.
Market Prices on the Rise in Quezon City and Other Urban Hotspots
It’s not just the availability of public transport that will make developers and homebuyers beat a path towards Quezon City and other urban hotspots. Infrastructure utilities such as water, electricity, and internet accessibility should also increase in supply and capacity because when the developers move in and start building communities and condominiums, the demand for the city’s water and electricity sources will also increase in demand. . Meanwhile, telcos should start improving their services further to easily handle any surges in daily users or bandwidth requirements.
The reasoning is quite simple, homebuyers would like to move somewhere with minimum hassles. They want to stay in a house with electricity, water, and with good internet connection. Coming and going to the house should be relatively easy. Even private car owners can appreciate having public transportation nearby when their car is out for repairs or banned for the day (Metro Manila’s number coding system).
In case you still think that infrastructure has little effect on real estate market prices, here’s further proof. As early as 2019, Colliers Philippines already predicted in their white paper titled “All Aboard: Manila Subway to Influence Land and Property Prices, Strategies of Developers,” that the real estate services and investment management firm anticipated the rise in demand for QC properties.
The report highlighted the fact that seven out of the 14 new rail stations will be in Quezon City. This gives the community an edge in attracting millions of Filipinos to pass through the city. And where people are, retailers and other businesses will follow. Condominiums and apartments will sprout in areas beside the stations and the grand terminal. Workers will find it convenient to secure housing near their place of work. But if it’s too expensive (such as properties in BGC or Makati), the next best bet is to get a place near a transport terminal.
Bustling Activities in Vertis North
True to form, the North Triangle area became home to several residential properties. The Vertis area near Trinoma is now home to prominent developments such as Avida Vita, Avida Sola, Alveo High Park, and Alveo Orean Place. Also in the mix are commercial and corporate spaces, including the One Vertis Plaza, a 43-storey Premier Corporate Tower by Ayala Land. In the area are prestige hotels such as Seda Hotel Vertis that opened back in 2017, and Solaire North Hotel and Casino in its finishing stages.
Currently, market prices for Philippine houses are enjoying a 10.2% rise in value year-on-year. As developments in the common station area continue to sprint toward the finish line, real estate market prices in the area continue to appreciate. Pre-selling units at Orean Place now start at P9,400,000 for studio units. The already-completed High Park features ready-for-occupancy units starting at P17.925 million for two bedrooms.
Aside from easy access to the common station, Vertis-located properties are also within walking distance of three malls: Vertis, Trinoma, and SM City North Edsa. Both SM Malls and Ayala Malls foresaw the area’s potential decades ago. SM City launched way back in 1985, while Trinoma opened its doors in 2007. Now, both operators are busy with expansion projects to accommodate the expected surge within the next few years.
Other Areas of Interest in the Philippines
While QC stands as the current example of how infrastructure affects the prices of properties, others are also reaping the benefits. Take the province of Bulacan, for example. With a new international airport on the way, Bulacan is also anticipating a surge in economic growth. With the Bulacan International Airport slated to open in 2027, developers are busy making space for the influx of businesses and workers. This includes the development of a new business district along the North Luzon Expressway (NLEX), Northwin Global City.
In addition, developments are also happening in Cebu, Iloilo, Davao, and Pampanga. Similar to Quezon City, the infusion of infrastructure projects helped encourage economic growth in these provinces. In addition, improvements in basic utilities and internet connectivity are making these provinces more attractive to would-be residents and investors alike. As a result, plenty of residential and commercial ventures are pushing market prices higher.
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