Ayala Land’s The Residences at Greenbelt in Makati’s central business district, saw its prices increase by 136 percent since it launched. Aside from Arya Residences, Ayala Land’s One Serendra in Bonifacio Global City also saw a 104-percent growth from its launch price, Entrepreneur Philippines has reported, citing data from real estate analyst Leechiu Property Consultants (LPC).
“Sustained demand and limited supply of high-end condominiums in Makati City and Bonifacio Global City have pushed prices to an all-time high,” the report quoted LPC assaying. It added that peak condo prices in BGC reached Php303,000 per square meter last year, while high-end Makati condos cost as much as Php295,000 per square meter.
Indeed, LPC listed four examples of condos that more than doubled in price since their respective launches. Ayala Land’s The Residences at Greenbelt and JTKC Land’s Discovery Primea, both of which are in Makati’s central business district, saw their prices increase by 136 percent and 115 percent respectively since their respective launches.
But the surge in condo price wasn’t exclusive to the Makati and BGC areas, as LPC also listed examples from the Ortigas Center and Cubao areas that experienced similar price growth, said the report.
The Escalades at 20th Avenue project by Robinsons Land in Cubao, for example, experienced a 150-percent price growth since launching in 2009, surpassing every condo in the list in terms of growth rate apart from Arya Residences.
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