The Davao property market is one investors are bullish on. And for good reason. Research from Prime Philippines found that the Davao City residential condominium market has an occupancy rate of 83 percent with this being higher in central areas of the city.
Meanwhile, property prices continue to move upward. In Davao, home prices rose from PHP60,000-80,000 to PHP100,000 per square meter between 2017 and 2018, according to Prime Philippines. For investors, this combination of strong occupancy rates and rising property prices provides an intriguing opportunity.
But with JLL estimating that some 21,300 condo units are slated to be completed between now and 2022, it is important to find a condominium project from a respected developer that stands out. Today, we’re going to look at two Davao condominium developments from Filinvest that meet these criteria.
Two Davao condominium developments investors need to know
Of all the Davao condominium developments on the market, Centro Spatial and 8 Spatial are among a select few that offer high-quality property at an affordable price. Both are being developed under the Futura by Filinvest brand that is known to provide value-for-money homes built under the firm’s signature “Buhos Tibay” quality seal.
Let’s start with Centro Spatial. The condominium is located in a strategic area that allows residents to enjoy a place where they can breathe, unwind, and relax while still being close to the action. Davao City Hall, San Pedro Cathedral, Rizal Park and multiple shopping centers are all less than one-kilometer away.
Centro Spatial consists of five 8-storey buildings that sit on 1.7 hectares of prime space. Studio and two-bedroom units are available with prices starting at PHP1.85 million which, considering the project’s central location, provides ample room for capital appreciation in the years to come.
The second development we are looking at is 8 Spatial. This community will feature eight mid-rise buildings covering a sprawling 3.
4-hectare property that provides low-density living. What’s more, the development will have open spaces and refreshing landscapes to provide an extra level of serenity.
From a location standpoint, 8 Spatial benefits from being close to a number of schools and universities. University of Mindanao, Philippine Women’s College, Davao Doctors College and St. John Paul II College are just a few of the nearby educational institutions.
With a number of Davao condominium developments in the pipeline, investors need to be confident in their decision. Centro Spatial and 8 Spatial offer great locations, in-demand amenities and unmatched quality that offers significant investment potential.