As the largest island in the Philippine archipelago, Bicol is all about living large. Its abundance of volcanoes, mountains, cliffs, and white-sand beaches has attracted plenty of thrill-seekers for decades. But aside from being an outdoorsman’s paradise, it has quietly had one of the most progressive economies in the country in each of the past three years. As the complications brought about by the pandemic start to waver, Bicol is poised to attract more real estate investors and homebuyers in the near future.
Bicol’s four provinces of Albay, Camarines Norte, Camarines Sur, and Sorsogon, as well as its two island provinces of Catanduanes and Masbate, are each spoiled with picturesque landscapes and beautiful blue waters. Yes, the tourism industry has been instrumental in Bicol’s popularity over the years, but it is its infrastructure development, smart social services, and economic stability that have sustained its success.
Home seekers should pay close attention to Bicol in the post-pandemic era, considering that the region has adopted a regional recovery program that will only increase its local socio-economic development. More potential investment opportunities are lurking just around the corner.
Tropical Living at Its Finest
With an average temperature of 27°C to 30°C all year round, Bicolano life is the definition of island living.
Surfers worldwide have raved about Catanduanes and Daet for quite some time now. Catanduanes Island also possesses some pretty great waterfalls and lagoons. Some popular activities enjoyed by residents and tourists alike include whale shark spotting, island-hopping, and snorkeling in Donsol, Sorsogon and areas around Caramoan and its surrounding islands.
Mayon Volcano in Albay is a cultural pillar that has been synonymous with Bicolano life, too. It is one of the many active volcanoes in the Bicol Volcanic Arc. There is a wide range of hot springs and crater lakes, as well.
Of course, one of Bicol’s defining characteristics is its spicy food. Chili pepper plantations, a Mexican influence, cover a lot of ground in the area. Dishes like Bicol Express, Laing, and other local specialties are staples, as well.
One of the Fastest-Growing Economies in the Philippines
Back in 2018, the economy of Bicol was recognized as the fastest-growing economy among the 17 regions in the nation. Subsidized government education programs, Bicol’s mining sector, and public infrastructure buildup all contributed to its rapid growth, as well. The following year, it ranked first yet again. While the region was also hit by the effects of COVID-19, Bicol still ranked 10th in terms of economic performance in 2020.
A large segment of the Bicol region’s economy relies on agriculture, fisheries, and its local crops. These include coconuts, abaca, coffee, and more. There are also around 13 major fishing grounds that supply local markets that extend all the way to Metro Manila. Construction, storage, and transportation have also been key to its sustained growth.
As the economy reopens and as the region rebounds from its economic losses, Bicol remains in a good position to reclaim some of its old standing.
Investing in a Property in Bicol
The cities of Naga and Legazpi in Albay are two of its most urbanized areas in all of Bicol, together with the municipalities of Camaligan in Camarines Sur and Daet in Camarines Norte.
Developments like Camella Provence and Lumina Legazpi are ideal communities for family life. These projects are situated near leading malls like SM Legazpi and schools like the University of Santo Tomas-Legazpi and Bicol University. Home seekers are looking at a price range between P1.6 million and P5.6 million in these locations, depending on the model.
In addition, Bria Iriga, Bria Naga, and Lessandra Pili offer great, low-cost housing options in the Camarines Sur area. These quality developments provide families with safe and convenient living spaces at affordable prices. Meanwhile, Lumina Camarines Norte and Lessandra Sorsogon offer generous house and lot packages, too. These two are also located nearby major commercial establishments and roadways.
Ultimately, investing in Bicol means investing in a tropical lifestyle and economic efficiency. With its Rehabilitation and Recovery Plan set in place, Bicol looks forward to welcoming back tourists and potential investors alike. And it will be more than happy to welcome new residents, as well.
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