Demand For Student Housing Reshapes Metro Manila’s Property Market

Posted on Oct 23 2018 - 1:00am by Business Day TV

student bedroomReal estate developers in Metro Manila have increasingly focused on the student housing niche, driven in part by Filipino parents who look for properties close to their children’s school.

Despite the high cost of living, many are willing to pay a premium for student residences in exchange for security. Most of the parents either live outside Metro Manila or work abroad, hence safety is their top concern when choosing the right property.

Unique Developments

In Quezon City, a condo for sale or rent is among the choices for parents who send their children to study there. Given that the city is home to two of the best universities in the country, developers often market their projects as being close to these areas.

The short travel distance from their second home to school serves as another selling point. The cost of living in Quezon City is also quite affordable compared other urban areas, particularly in Makati where prices are among the most expensive nationwide.

Pricey Residences

Demand from international students from China, India and South Korea also fuel the growth of more student-housing options in Metro Manila. This partly affects rental prices in Makati, which consequently makes it an expensive place for residence and studies.

A recent survey ranked the city on top mainly because of its status as the country’s business and financial center. Aside from the cost of rental properties, the price of groceries in Makati cost more than any other city in Metro Manila. Parents should then look at these factors when choosing to rent a condo in the city, and consider whether or not it’s better to find a similar one in other places.

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Conclusion

While cost is a key determining factor, parents shouldn’t rely on it as the sole reason for renting or buying a condo for their children if it means compromised security for them.