4 New Reasons To Be Excited About Moving To Quezon City

From 1948 to 1976, Quezon City was once the seat of power of Metro Manila. Today, vestiges of the city’s old grandeur are still there. It’s the site of many government offices such as the House of Representatives and some of the country’s most prestigious universities like the University of the Philippines Diliman and Ateneo de Manila University to name a few. Of late, infrastructure projects and business ventures are making their way to North of Manila and the city’s real estate sector is expected to benefit from this resurgence. This is just the right timing to look for a condo for sale in Quezon City or a house and lot for sale. Let’s look at the latest developments that are paving the way for Quezon City to be the next boom district.

1. MRT-7 is now in the works.

San Miguel Corporation (SMC) recently broke ground for the Metro Rail Transit Line 7 (MRT-7). According to news reports, once completed, the P69.3 billion project will create a 23-kilometer elevated railway from North Avenue in Quezon City to San Jose Del Monte in Bulacan. It will connect to MRT-3, which runs from North Avenue station until Taft station in Pasay City, with the provision to link to Light Railway Transit Line 1, which runs from Roosevelt station in Quezon City until Baclaran station in Pasay City. Serving 28,000 passengers per hour, per direction, during peak hours, MRT-7 aims to cut down the travel time of commuters who take the heavily congested Commonwealth Avenue to get to school or work. Moreover, travel time from North Avenue to San Jose Del Monte will be reduced to 30 minutes from the current two hours.

2. It is eyed to be the next gaming and leisure hub.

Bloomberry Resorts Corporation, led by shipping and casino magnate Enrique Razon, is planning to build a hotel and casino on a 15,676-square-meter property acquired from the National Housing Authority for P1.9 billion. Construction is set to begin 2017. The mixed-use development will be similar to Solaire Resort & Casino in Paranaque, Bloomberry’s first venture into the gaming industry. This leisure complex is expected to attract more commercial and business activities in the area, and property values will be on the upswing within the next few years.

3. More residential projects are coming in.

Real estate developers have foreseen Quezon City’s resurgence – more residential projects are on the horizon, providing homeowners with a wide range of options at different price points. One such development is Congressional Town Center in 23 Congressional Avenue, a three-tower, 37-storey residential tower considered as the tallest condominium in the area, providing residents with amazing skyline views.   The tower has fewer units per floor compared to other developments; residents can take their time to enjoy the project’s amenities without worrying about crowds or being rushed. Unit owners will also appreciate the free shuttle service, which will take them to select locations for hassle-free travel. It’s close to schools such as St. James College, Far Eastern University – FERN, New Era University, and Colegio de San Lorenzo. SM City North Edsa, Trinoma, Fernwood Gardens, and Veterans Memorial Medical Center are also just a few minutes away.

4. Tech and BPO firms are looking alternative locations.

Quezon City is becoming a sought-after location for technology and business process outsourcing companies looking for office spaces outside commercial business districts like Makati and Bonifacio Global City. This is good news for Quezon City residents, as they don’t have to go far to seek potential employment opportunities. And with the infrastructure soon in place, getting around the city should be faster and more efficient. According to property consultancy KMC MAG Group, the monthly rental rate in the city averaged P700.40/sqm in the third quarter of 2015, growing by 8.5 percent year-on-year. Their quarterly report stated,

The district posted the lowest vacancy rate among all districts in third quarter 2015 with only 0.2 percent of its total stock left unoccupied.”

Office space in the district is expected to remain scarce as no new developments are in the pipeline for the second half of 2016. Moving to Quezon City? Your dream home might be here.