Why Iloilo is a property investment hotspot today
February 25, 2017
In our lifetime, there will always be moments when we wish we had the ability to see the future.
If you live in the city, do you remember growing up, seeing the rapid pace of development that goes on every year within your community, and wished that you invested years ago? Now what does this have to do with Iloilo?
Unlike before, it is no longer a secret that Iloilo is one of the fastest rising cities in the Philippines. In fact, it is the second most competitive city in the country and number one in governance.
There is also an ongoing economic resurgence. A lot of investors, both foreign and local, are pouring in billions of pesos into the economy, creating jobs and increasing the spending ability of Ilonggos.
Fundamentally, the growth of a city begins from the core and flows out to the neighboring provinces. I suppose in any other developed cities, it is next to impossible to acquire a piece of prime property at the heart of the city.
In this aspect, Iloilo City is one of a kind because there are still opportunities for one to invest in residential and even commercial projects.
Here are the five reasons why investors are looking into the Iloilo property market
Iloilo is the gateway to the Visayas—specifically to the nearby, prominent provinces and cities including Bacolod City, Guimaras, Antique, Roxas, Kalibo, and Aklan (Boracay). For businesses expanding outside of Manila, there is no better place than to start in Iloilo.
The province of Iloilo has a vast pool of highly skilled, educated, and hardworking individuals.
There are 63 private and government colleges and universities in the province. Sixty percent of the population is below 30 years old.
The widening and re-paving of major thoroughfares help businesses reach out even to far areas.
The Iloilo International Airport and ship ports adhere to globally accepted standards, attracting plenty of tourists who pour in money to the local economy.
Iloilo has a robust local economy and its middle class has one of the highest incomes among major cities in the country. Remittances from overseas foreign workers such as nurses, seamen, and I.T. workers continue to grow every year.
Finally, despite the trials and the successes that Ilonggos have experienced throughout the years, one thing remains the same: the resolve of the people to uplift their city to keep making it stronger than ever. From farmers, office workers, to city officials, Ilonggos are determined to scale new heights of economic and social success.
Now is the perfect time to invest in Iloilo. In Megaworld’s Iloilo Business Park, there is an opportunity to acquire a prime commercial lot or a residential condominium unit alongside the soon-to-open Marriott Courtyard Hotel as well as the existing Iloilo Convention Center and Richmonde Hotel. This is the opportunity that everyone has been waiting for.
Jennifer Palmares-Fong is the vice president for sales and marketing of Megaworld’s Iloilo Business Park.