The Importance of Location in Real Estate Market

By: Kyle Santos
The Importance of Location in Real Estate Market

Most real estate agents’ common vocal is always ‘location, location, location’ when asked as to what a property’s most important factor should be. You can hear it in every pitch they have on you, like when you are trying to buy a condo in Laguna. The Philippine real estate market is a diverse one when compared to other countries. To choose a location, any buyer is input with an overwhelming amount of information today, mainly because it is becoming more common to rely on technology for the purpose. In such cases, the scope of the client to choose the best location in reading between the lines and understanding the information in depth.

Why is location important when buying a condominium?

Importance of location in real estate purchase always seems farfetched. The reason is that the location is what translates into profitability for that investment. Location, primarily, creates the desire for purchase and the desire, in turn, creates demand which causes a hike in price.

In most cases location is a deal maker or deal breaker when it comes to purchasing that ever growing investment, clients further ask questions about the future developments in the area, with condominiums taking the torch because of the major pros and benefits you receive in living or owning one. Everyone would love easy access to nearby schools, universities, lifestyle malls, business districts, and major road networks in this case CALAX, MCX, SLEX, and coming soon our very own South Commuter Railway Station connecting you to the metro, here in Valenza Mansions located in Sta. Rosa Laguna hosts a unique location with its prime location, in the middle of everything that you’ll ever need.

By the time a buyer is trying to identify the location for the purchase of residential or commercial property, it is obvious that the client is willing to pay a good amount of saved capital. So it is important that the buyers end up choosing the right location that makes the real estate purchase tick. Whichever be the country of residence, many a time a buyer makes a decision based on the home that they are going to purchase and not the area that it is located in. Once the purchase is made, the area will never change. This kind of mistake may cost a buyer a lot.

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The price and location of the property are both important factors. The location ultimately dictates everything else about the property. If the property is situated in a prime locality, it will command a better selling price. The same property in the area that is not so prime will command less price. Though the consumer may end up paying more for the property in a better ambiance, there are likely to be more profitable options in the times to come. However, if the buyer invests in communities that are worse off, though the costs may be a little lower, from the start, there will eventually be lack of demand, lower rents, and lower prices.

In owning your first quality condominium investment, the price and the location of the property are both big factors for client’s decision making. It is a good idea to find out if the area will have major changes in the area or adjoining ones. This will help with future heartaches in the future. It is good to evaluate the land from a mid- to a long-term view and how the estate is expected to evolve in the future. A safe estate may not be safe in the future, so do not place all your bets on one factor.

Location is always a factor in property value and the real estate prices

The real estate market here in the Philippines works on location viability. In the case of residential property, every major tier 1 city has corridors in which the investments are worthwhile. The main factors that drive real estate growth are the creation of infrastructures and the historic growth of price of the vicinity.

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With the aggressive growth in real estate, cities such as Sta. Rosa Laguna has great capital appreciation value because of the rise of schools, grocery stores, universities, business districts, lifestyle malls, supermarkets and hospitals. The city knows as the Lion City of the South has seen the rise in real estate investments as people have seen it as a passage way to the creation of wealth in the long term setting.

It some cases it is prevalent to hear from real estate investors that the area is key when it comes to capital value appreciation. Again and again, the better your location, the better it sets the bar when it comes to demand in the real estate market. If once decides to live or buy into a condominium with an attractive and peaceful community where people are constantly moving from one place to another, you can expect your condominiums unit value to appreciate over time especially with Crown Asia’s vertical development with its quarterly increase. As the location advances in infrastructures the demand for that location increases, so as the capital value appreciation.

Ease of access to groceries, road networks and a good school district

Many long-time residents of Metro Manila may find leaving the city almost impossible, particularly when the possibility of living hours and hours away from your job, high schools, and other city-based points of interests is considered.

If you choose to live in a suburban setting with accessible destinations trouble-free, choosing for communities that have easy access to major thoroughfares is essential.

With the launch of CALAX, paving the way that leads to many of the developments located at the south of the Metro. One sought after project with both horizontal and vertical all in one address is Valenza Mansions in Sta. Rosa Laguna is a 2.4 hectare condominium development with an Italian-inspired community with 8 low-midrise buildings.

Ease-of-access-to-groceries-road-networks-and-a-good-school-district

Any loving parent would love to see their children grow-up in a neighborhood where they can live healthy active lives and socialize with kids the same age as them. Always make sure to pick communities that promote indoor and outdoor recreation, such as parks and gardens, clubhouse, gyms, and play parks.

With the likes of Valenza Mansions where we promote 70% open space and 30% residential to help our community socialize with one another aside from being in front of the computer or phones all the time.

Conclusion

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Now that we shared a little bit of why condos are so attractive to people looking to purchase property, chances are you have a better idea regarding whether or not purchasing a condo in the near future is right for you. If it is, all you have to do next is to figure out how you want to go about seeing condominium developments in your area.

Related Blog: How Important is Location to Real Estate Investment?

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