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Metro Manila Ranks Top In the Asia Pacific For Luxury Residential Property New Information

Editor: Cheyenne Hollis
Pages 12, Dot Property Magazine ISSUE 029 WINTER 19/20

New information from Santos Knight Frank found that the Metro
Manila luxury residential property market continues its strong
performance, ranking first in the Asia Pacific and fourth globally. The
the sector grew by 6.2 percent during between the second quarter of
2018 and 2019, according to the Knight Frank Prime Global Cities
Index Q2 2019.

Santos Knight Frank noted that the confidence of developers in the
prime condominium market could be seen in their willingness to
launch more high-end projects. In a bit of a twist, two of the most
recent luxury condominium launches are being developed jointly
by major developers.

Aurelia Residences is a joint venture between Shang Properties
and Robinsons Land being built in Bonifacio Global City.
Meanwhile, The Estate Makati is being developed by both SMDC
and Federal Land. The project recorded pre-sales of 40 percent
before its launch.

This price growth easily surpasses other sectors of the property
the market in Metro Manila. Data from Bangko Sentral ng Pilipinas
(BSP) found residential property prices in National Capital Region
increased by 5.2 percent between the second quarter of 2018 and
2019.

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