Buying real estate in Quezon City?

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Is buying a property in Quezon City a good investment?

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Yes, the analysis of Manila's property market is included in our pack

If you've admired the suburban charm and cultural diversity of Quezon City, you may have considered settling down in this family-friendly part of Manila, experiencing its relaxed atmosphere and community spirit.

Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?

We'll answer all these questions for you! When building and updating our property pack for the Philippines, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.

Why do property buyers like investing in Quezon City?

Quezon City, nestled in the heart of Manila, stands out as a prime location for property buyers for several reasons, each contributing to its growing popularity in the real estate market.

What makes it particularly attractive is its unique blend of urban development and spacious living environments, a balance that's harder to find in other densely populated areas of Manila.

One of the key attributes setting Quezon City apart is its expansive size. As the largest city in Metro Manila, it offers more room for developments, including residential areas, commercial centers, and even large parks.

This space translates to more housing options, from affordable condominiums to luxurious single-family homes, catering to a wide range of preferences and budgets.

Unlike other areas in Manila where space is at a premium, Quezon City provides a sense of openness and less congestion, which is a significant draw for those looking to escape the cramped feel of a mega-city.

Quezon City started gaining traction as a desirable real estate location in the early 2000s. This surge in popularity was driven by several factors, including the government's push for development, the establishment of major commercial hubs, and the city's strategic location.

It's well-connected to other key areas of Manila through a network of major roads and public transport, making it an ideal spot for those who work in the city but prefer a more relaxed living environment.

The city's appeal extends to a diverse group of people. It's a magnet for young professionals, families, and even retirees. The presence of top universities, reputable hospitals, and various leisure and shopping destinations makes it an all-encompassing place to live.

Additionally, the city's commitment to cultural and recreational activities provides a vibrant community life that appeals to those who value a blend of urban and suburban lifestyles.

However, like any location, Quezon City has its share of weaknesses. Despite its size, certain areas can get quite crowded, especially near major commercial centers and universities. Traffic congestion, a common issue in many parts of Manila, is also present here, particularly during peak hours.

Another point to consider is the varying levels of urban development across different parts of the city, with some areas being more developed than others. This inconsistency can affect everything from property values to the availability of amenities.

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Why is Quezon City a nice place to live?

Quezon City, known for its vibrant lifestyle and rich culture, its appeal lies not just in the tangible aspects like amenities and infrastructure, but also in the intangible qualities like community spirit and cultural diversity.

Living in Quezon City, you'll notice a unique blend of urban and suburban life. The city thrives with a variety of cultural and recreational activities, including art galleries, theaters, and parks.

The Ninoy Aquino Parks and Wildlife Center, for instance, offers a green oasis in the midst of urban life, making it a popular spot for families and nature enthusiasts.

The expat community in Quezon City is robust and growing, thanks in part to the city's diverse and welcoming nature. There are various expat groups and international schools, such as the Ateneo de Manila University and University of the Philippines Diliman, which cater to the international community and contribute to the city's cosmopolitan feel.

Cost of living is a crucial aspect to consider. Compared to other major cities in the world, Quezon City is relatively affordable, although this can vary depending on the lifestyle you choose. Residential areas range from high-end neighborhoods to more budget-friendly options, catering to a broad spectrum of preferences and financial capabilities.

Safety, always a concern in any city, is managed well in Quezon City. The local government and community organizations are active in maintaining peace and order.

However, like any large city, it's advisable to be aware of your surroundings and take standard safety precautions.

Quezon City is well-equipped with amenities and facilities. For healthcare, you have access to reputable hospitals like St. Luke’s Medical Center and Philippine Heart Center.

Shopping enthusiasts can explore large malls such as Trinoma and SM North EDSA. These establishments not only provide retail options but also serve as social and cultural gathering spots.

When it comes to infrastructure, Quezon City is continually improving. Roads and public utilities are generally in good condition, although traffic can be heavy, especially during rush hours. Internet connectivity is reliable in most parts of the city, a crucial factor in today's digital age.

Accessibility is one of Quezon City's strong points. It's well connected to other parts of Manila through major thoroughfares like EDSA and the MRT-3, which runs along EDSA. This makes commuting to other parts of the city relatively convenient.

For international travel, the city is within reasonable distance from the Ninoy Aquino International Airport, making it convenient for those who travel frequently.

Public transportation options are varied. You have the MRT, buses, jeepneys, and tricycles, providing a range of choices depending on your destination and preference. The city's transportation network is extensive, though navigating it during peak hours requires some patience due to traffic congestion.

How much does it cost to buy real estate in Quezon City?

If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in the Philippines.

Buying property in Quezon City can be an exciting venture, given the city's diverse real estate market.

The types of residential properties available range from apartments and condos to standalone houses and luxury villas. Each type caters to different lifestyle needs and budgets, making Quezon City a versatile choice for many potential buyers.

In terms of demand, condominiums and townhouses are particularly popular, especially among young professionals and small families. This preference is driven by factors like security, amenities, and the convenience of being close to business centers and commercial hubs.

Additionally, the trend towards vertical living in urban areas like Quezon City has been increasing, as it offers a practical solution to the space constraints of a growing city.

Quezon City's real estate market is a mix of new developments and resale properties. New developments are sprouting up, particularly in emerging areas and near major transport links. These often come with modern amenities and are designed to meet the growing demand for upscale and convenient living spaces.

The price range for properties in Quezon City varies widely. On average, prices per square meter can range from PHP 60,000 to PHP 120,000 for condominiums, while houses and larger properties can go much higher, depending on the location, size, and level of luxury.

Over recent years, property values in Quezon City have generally been on the rise. This increase is attributed to continuous urban development, improved infrastructure, and the city's growing reputation as a desirable living area.

Factors such as the construction of new transport routes and commercial developments have also played a significant role in boosting property values.

Looking to the future, there are several developments and city planning changes that might impact property values.

For instance, projects like the Metro Manila Subway and the continued expansion of commercial and business districts are expected to make certain areas more attractive, potentially driving up property prices in those neighborhoods.

Predictions for the real estate market in Quezon City in the coming years are generally positive. With ongoing development and the city's growing economy, the demand for residential properties is likely to remain strong.

This, coupled with Quezon City's appeal as a central and accessible location in Metro Manila, suggests a steady increase in property values.

Specific factors that indicate a potential increase in value include the city's continuous infrastructure development, the influx of businesses setting up in the area, and the overall trend of urbanization in Metro Manila.

Additionally, the city's efforts to improve public services and the quality of life for its residents make it an increasingly attractive place to live, further supporting the potential for growth in the real estate market.

Where is the best area to buy a property in Quezon City?

When considering where to buy property in Quezon City, it's important to understand that different areas offer varying atmospheres, property types, and prices.

This diversity means that the "best" area depends largely on your personal preferences and needs.

For those seeking a more upscale and modern environment, areas like Eastwood City and New Manila are popular choices. Eastwood City is known for its high-rise condominiums and commercial developments, offering a cosmopolitan lifestyle with numerous amenities at your doorstep.

New Manila, on the other hand, is characterized by its spacious homes and quieter, more residential atmosphere, making it ideal for families.

Another area worth considering is Diliman, home to several government offices and educational institutions, including the University of the Philippines. The area is known for its intellectual and cultural vibe, with a mix of residential options from apartments to larger family homes. Prices here can be quite diverse, catering to a range of budgets.

For buyers looking at potential growth in property value, up-and-coming areas like Novaliches and Fairview are noteworthy. These areas are experiencing growth in terms of commercial and residential developments.

They offer more affordable property options compared to the city center, making them attractive for those looking for value for money and potential appreciation.

If you're interested in areas with a mix of residential and commercial development, then districts like Katipunan and Commonwealth are good to consider.

Katipunan, with its proximity to top universities and lifestyle centers, is favored by students and young professionals. Commonwealth, being one of the larger areas in Quezon City, offers a variety of property types at different price points.

On the other hand, certain areas might be less advisable depending on your priorities.

For instance, areas closer to North Avenue and Balintawak, while well-connected in terms of transportation, tend to be busier and more congested, which might not be ideal if you're seeking a more relaxed and less hectic environment.

Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for the Philippines.

Area Atmosphere Property Types Price Range
Eastwood City Upscale, Modern, Cosmopolitan High-rise Condominiums High
New Manila Quiet, Residential Spacious Homes Medium to High
Diliman Intellectual, Cultural Mixed (Apartments to Family Homes) Varied
Novaliches Up-and-Coming, Developing Affordable Options Low to Medium
Fairview Growing, Developing Residential, Some Commercial Low to Medium
Katipunan Youthful, Dynamic Mixed Use Medium
Commonwealth Diverse, Mixed Varied Property Types Medium
North Avenue/Balintawak Busy, Congested Varied Varied

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Is there a strong rental demand in Quezon City?

In Quezon City the rental market is indeed strong, but it varies significantly depending on several factors including the type of rental, the target demographic, and the specific area within the city.

Firstly, the demand for rentals in Quezon City is split between short-term and long-term leases, with a notable inclination towards long-term rentals. This trend is primarily driven by students, professionals, and small families who prefer stability and longer residency periods.

The city's educational institutions, like the University of the Philippines and Ateneo de Manila University, attract a steady stream of students who seek accommodations nearby.

Similarly, the growing number of businesses and commercial hubs in areas like Eastwood City and Ortigas Center brings in professionals who often look for convenient living options close to their workplaces.

The profile of potential tenants in Quezon City is diverse. Students typically look for affordable, small-scale living spaces such as studio or one-bedroom apartments. Young professionals and expatriates often seek out modern condos with amenities like gyms, pools, and internet connectivity.

Small families, on the other hand, might prefer larger apartments or townhouses in quieter, more residential neighborhoods.

When it comes to specific areas, Eastwood City and Katipunan are popular among young professionals and students due to their proximity to universities and business districts.

New Manila and Commonwealth are favored by families for their larger homes and more relaxed environment. Each of these areas offers different types of properties catering to the varied needs of tenants.

Amenities play a crucial role in reducing vacancy rates. Properties with added conveniences such as 24-hour security, parking spaces, fitness centers, and proximity to public transport and shopping centers are more attractive to potential renters.

These features not only provide comfort and convenience but also add a sense of community and safety, which are high priorities for many tenants.

Regarding returns on investment, properties in Quezon City can offer promising yields, although this depends greatly on the location, property type, and market conditions.

Generally, a well-located property in a popular area like Eastwood City or Katipunan can yield annual returns of around 4% to 6%. This rate is influenced by factors such as property condition, rental rates, and occupancy levels.

Currently, there's an increasing demand for condominium units, especially those in central locations with easy access to amenities and transport links. These properties are becoming increasingly popular due to their convenience, security, and range of amenities, potentially offering better yields for investors.

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Is it easy to buy a property as foreigner in Quezon City?

Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in the Philippines.

Buying property in Quezon City, Manila, as a foreigner, comes with its specific set of regulations, challenges, and considerations.

Firstly, it's important to be aware of the restrictions placed on foreign property buyers in the Philippines. Foreigners are not allowed to own land, but they can legally own condominium units or apartments in high-rise buildings as long as the foreign quota (usually 40% of the total units in a building) hasn't been reached.

This restriction is significant and unique to the Philippines, impacting the type of properties that foreigners can invest in.

The purchasing process for foreigners in Quezon City involves several steps. Once you've chosen a property, you will typically sign a reservation agreement and pay a reservation fee. This is followed by the signing of a sales contract and payment of the down payment.

The balance is usually paid through a bank financing or in-house financing by the developer. The entire process can be intricate, requiring a good understanding of local real estate laws and financial practices.

There are risks associated with property investment in Quezon City, as with any real estate market. These include potential fluctuations in property values, changes in government policies impacting real estate, and the general economic climate of the country.

Additionally, there might be risks related to the specific property, such as delays in construction for new developments, issues with property titles, or challenges in managing the property, especially if you're not residing in the country.

Common pitfalls for foreign buyers often relate to a lack of local market knowledge. Overlooking the due diligence on the legal standing of the property, such as checking for clean titles, understanding local property taxes, or being unaware of additional costs like maintenance fees and transaction fees, are typical mistakes.

Unique to the Philippines is the importance of ensuring that the property developer has a good track record and that the property falls within the foreign ownership quota.

Working with a local real estate agent or lawyer is highly recommended. They can provide valuable insights into the local market, assist with navigating the legal and regulatory framework, and help avoid common pitfalls. They play a crucial role in ensuring that all legal aspects of the property purchase are handled correctly.

As for exit strategies, property investors in Quezon City often look at either selling the property or renting it out. The rental market can be quite robust, especially in areas popular with students and professionals.

Selling the property can be a viable strategy, too, especially if the property value has appreciated.

However, it's important to be aware of the timing of the market and any potential capital gains taxes that might be applicable.

Make a profitable investment in Manila

Better information leads to better decisions. Save time and money. Download our guide.

buying property in Manila

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.