ALL-TIME HIGH

Davao City’s land valuation continues to increase year after year.

Parallel with the economic progress and the mushrooming of different commercial establishments in the city, is the surge of the prices of office spaces and raw lots as well.

According to a previous survey of Prime Philippines Capital Markets and Investment (PPCMI), a real estate consultancy firm based in Davao City, the pricing of land properties in the city has significantly increased since the early parts of 2017.

Prices of land properties in the poblacion area are now pegged between P40,000 to P70,000 per square meter. This has increased from the P35,000 to P60,000 per square meter during the later months of 2016.

The same survey also revealed that the land properties in Bajada-Lanang area are currently the most in-demand. They are currently priced at P50,000 to P100,000 per square meter compared to the previous price of P30,000 to P70,000 per square meter.

On the other hand, prices of land properties in the Matina area play at around P20,000 to P50,000 per square meter compared to the previous P10,000 to P40,000 per square meter.

“There is still a high demand when it comes to spaces by professional services. Local companies are looking for expansion. South-based are looking for spaces up North and vice versa. That itself contributes to great demand of spaces especially office spaces. Aside from that, those investors or companies that are located outside Davao are also getting the city to establish their presence here,” said PPCMI associate Raphil Saguan in a previous interview.

“Despite the average land area prices, we also need to take into consideration the area’s frontage, the shape, and the slope. You have to take into consideration if the development would be for a high-rise building because there are Civil Aviation Authority of the Philippines restrictions right now. A lot of factors can go into it,” added PPCMI assistant manager for business development Jen Namis.JPA