Will Home Prices in Cavite Increase in Value Once the LRT-1 Extension is Completed?

While Metro Manila is the prime beneficiary of many transport projects, nearby provinces are also getting some love. Those feeling the trickle-down effects include Bulacan and Pampanga from the north and Laguna and Cavite from the south. These provinces are benefiting from the massive transportation upgrades that include a new airport, more expressways, and expanded railway systems. Once these projects start operations, expect renewed economic activity in the area. Even better, expect home prices to appreciate more than ever.

Cavite: Transport Modernization Underway 

Take the province of Cavite, a suburb where a good chunk of Metro Manila employees reside. Given its proximity to the capital’s southern business districts like Makati, BGC, and Alabang, many affordable residential homes have sprung up in the province over the last few decades. However, this doesn’t mean that the province is devoid of business. In fact, Cavite is home to a number of industrial parks and special economic zones that employ around 40,000 workers. 

Now, the province is set to become an even busier hive of activity. Among the big-ticket infra projects that will directly benefit residents include the Light Rail Transit 1 Cavite Extension. Originally stretching from Monumento, Caloocan to Baclaran, Paranaque, the railway will add another 11.7 kilometers to reach Bacoor and Dasmarinas. Once operational, daily commuters between Cavite and Metro Manila will now see their travel time cut from an hour and ten minutes to a mere twenty-five! 

In addition, Cavite is also the recipient of a 32.2-km bridge that connects it with the northern province of Bataan, bypassing Metro Manila completely. The province will also be home to the Cavite-Laguna Expressway (CALAX), another bypass road that aims to decongest the main arteries in Cavite and Laguna. 

Home Prices in Cavite to Double Within the Next Five Years

As a result of these massive upgrades, Cavite’s accessibility will become better than ever. Homeowners who dread the long commute will now find going to and from Manila a lot more tolerable. Goods and services can now flow freely from Cavite and everywhere else. As a result, more businesses will find it worthwhile to invest in the province. This can lead to more jobs, increased income, and eventually, more residents. 

Already, some real estate experts are predicting the arrival of the real estate boom in Cavite. In fact, Colliers International sees home prices in Trece Martires, the new provincial capital, to double within the next five years. Using a 14-year CAGR projection, Colliers sees home prices in Cavite’s residential townships doubling. From the current P40,000 – P50,000/sqm prices, the firm sees a climb to P80,000 within five years.

Now’s the Time to Invest in Cavite Before Home Prices Double

Investors and homebuyers should take this opportunity to invest in Cavite before home prices go up soon. Construction of infrastructure projects and residential developments are still underway, so buyers can still avail of pre-selling prices. However, this won’t last long. The LRT-1 Cavite extension is scheduled for operation by the 4th quarter of 2024. Similarly, all substages of CALAX will be open for traffic by 2024. However, the Cavite-Bataan bridge has a long way to go with a target date of 2029. 

Meanwhile, plenty of residential options are available in Cavite for the prospective home buyer.  Townships in Bacoor, Dasmarinas, Imus, Tanza, General Trias, and Trece Martires are sprouting left and right. Along with residential homes are master-planned communities designed to provide households with everything they need. Expect supermarkets, malls, retail stores, fitness centers, recreational clubs, and dining establishments to dot the province’s landscape.

Ohmyhome Has the Residential Properties You Need At the Home Prices You Want 

Looking for the best properties at the best locations at the best prices can be a daunting task for the house-hunting buyer or investor. Visiting individual developer websites to check on properties can take too much time and yield little results. For the busy professional, there’s always the Ohmyhome option. The Philippines’ premier property tech forum holds a comprehensive listing of thousands of properties from the country’s top homebuilders. The Ohmyhome platform features an easy-to-use search engine tool that can help you narrow down your choices based on location, home type, turnover date, and price.

Ohmyhome also provides additional consultation services aside from showing you the hottest-selling properties. Our licensed sales professionals and top-notch customer service team can help sell or lease your idle properties and assist you with your documentation issues. In addition, we can help get you the best financing options with our partner banks. To avail of Ohmyhome’s premium services, simply sign up for a free account or chat with us today!