Bristol offers better health, property appreciation
The 40-story Bristol at Parkway Place is the newest addition to a neighborhood of condominiums called Millionaires ’Row in Filinvest City that is currently generating market interest.
Just a stroll away from restaurants, stores, offices and medical centers, it is set for turnover to clients beginning 2018. But a significant number of its units have already been snapped up by buyers mostly from within the vicinity and Calabarzon.
Buyers intend to live in the iconic tower offering picturesque views to be near their business or once they retire. In the meantime, some intend to rent out the units with open plans to expats working in Filinvest City and the industrial sites of Laguna and Cavite who have shown a marked preference for highrise living in what they call a “walkable neighborhood,” according to Catherine Ilagan, executive vice-president of Filinvest Alabang Inc., developer of Bristol.
“Whether one is an enduser or tenant, the chief attraction of Bristol is that its location frees residents from being overly dependent on the car and encourages greater mobility and better health,” she said. Moreover, when they do have to drive out, they are only less than a kilometer away from the Filinvest City exit of the Southern Luzon Expressway and 30 minutes drive to Makati on average and a number of major manufacturing sites.
For a number of investors, still another attraction of Bristol and other developments in the South is that its capital values or the cost of residential condo units are still significantly lower compared to Makati’s P165,000 to P255,000 per sqm or Bonifacio Global City’s P145,000 to P188,000 per sqm. At the same time, there is high demand for such units from high net worth individuals, top executives from the BPO industry and multinationals, according to a JLL Philippine Property Digest issued mid2016.
Expats and Philippine residents returning from work stints abroad are particularly attracted to the open, garden feel of Bristol’s Filinvest City community now undergoing further enhancements. These include the addition of new parks and the establishment of an ambitious greenway system allowing pedestrians to comfortably walk and bike from north to south and from east to west.
The first phase of the north to south green spine along Spectrum Midway boulevard has in fact already been completed. It consists of an expanded, landscaped median with sculpture and seating areas and already in use by city residents and locators. It is flanked on either side by two lanes for cars and by bike lanes.
“We’ve taken away road space originally for cars and turned it over to pedestrians and bikers. Our aim is to encourage everyone to walk and to leave their vehicles behind once they are in Filinvest City,” according to Ilagan. This will also mean less traffic and pollution in the city.