Google Pampanga Real Estate Guide, Trend and Review: What is happening now in Pampanga Real Estate Philippines Part 1

Sunday, December 1, 2013

What is happening now in Pampanga Real Estate Philippines Part 1

This article is a three part series tells the story reflecting the growth of our province Pampanga and how it move rapidly from a disaster-prone area to an economic super province of the Philippines. See more of the past, present and to future of Pampanga, Pnilippines.

Cities and Towns in Pampanga, Philippines are Rapidly Growing and Moving Forward! 

For the past 10 years, major Philippine developers are making name and building a niche of themselves in Central Luzon. Their vast network of developments around the province had made news and sprung interests in reshaping the land that was once devastated by natural calamities. In short, Pampanga has become a major hub of agricultural and industrial businesses with its Philippine Economic Zone Authority (PEZA) accredited facilities within cities of Angeles, Mabalacat and town of Bacolor.

City of San Fernando, a component city of the province has become an ideal place for those starting middle class families. It once was an obscure farming town turned to one of the top idyllic place featured in several major magazines in the past few years . This vibrant, energetic and young city is strategically located in the heart of Central Luzon where major government regional offices are based.


In the recent census from the National Statistic Report (March 2013) population in Pampanga has almost marked to 2 million people living in this province alone and still growing.

Recently, The farming towns of Mexico and Porac have become first class town with increase in their revenue thanks to the expansion of major businesses and franchises building their niche out of Metro Manila, sand mining or river quarrying for use in construction purposes. Existence of road networks from simple farm to town market concrete roads to major provincial roads and national highways.

The town of Mabalacat was officially accepted as a city in 2012.

Rising demand of Overseas Filipinos Workers and Global Pinoy Professionals for Philippine Properties: Pampanga Real Estate is Booming!

Photo from Inquirer.net (Philippine Daily Inquirer)
Majority of Kapampangans are working overseas. Recent statistics show that Pampanga has some 29 percent female land-based overseas workers and 71 percent male land-based overseas workers in the whole world. This includes 69,803 permanent residents in various countries according to the news report from Sunstar Pampanga, published in Nov 2012.

The drive for real estate development has an impact for developers and property seller alone. It is an indicator that the investor confidence is high and is unequaled. In my opinion, Overseas Filipino Workers (OFWs) especially Kapampangans view real estate in a non-speculative angle but as an end-use motivation to provide for their immediate families.

Still the house and lot package is a major preference of most OFWs but some of those entrepreneurial type of person who want an extra income on investments are viewing the low to mid-rise luxury condominiums available in Angeles City and nearby Clark Freeport Zone which are located nearby the Balibago and Entertainment Business District.


Land Values gone up?

Photo from Wikipedia
Back in my early years as a child much of the MacArthur Highway was a sugar cane plantations, small farms and rice fields tended by local farmers. Harvests were bountiful on those days, but progress has caught up with time and it seems undeniable that properties change hands most of the time and agricultural lands along the highway are turning into commercial properties from buildings to industrial complexes. With this new progress, major real estate players such as Ayala Land Incorporated, Vista Land LifeScapes Corp. and Robinsons Land Corp have been watching the area since 2001.

Real Estate properties values have increasingly jumped over the past few years brought about by businesses and infrastructure development and sudden migration of residents from Metro Manila to neighboring provinces such as Bulacan, Tarlac and Pampanga which is a striking distance in the National Capital Region which is an hour and a half ride via North Luzon Expressway.

In the city of San Fernando alone, prices of commercial real estate along MacArthur Highway and Jose Abad Santos Avenue (JASA) or formerly known as Olongapo-San Fernando-Gapan Road have steadily risen over the years as major corporations such as SM Malls, S & R Shopping Center, Robinsons Malls have established their businesses in this commercial-business district in west of San Fernando and near North Luzon Expressway. Other business entities that have sprung up are Walter Mart and Jenra Malls in the northern part of the city.

There are mixed reactions in the proposed tax hike. Some people and other entities are opposed or support the hike or increase in "amilyar (real estate property taxes)" in 2008 with reasons ranging from current economic conditions and steep business climate from world recession of the same year.

The benefits of these outweighs the negatives of no tax increase. Taxes goes to Special Education Fund and General Fund of the local government in which it would provide basic services and other assistance to the constituents. I maybe a bit neutral on the pros and cons of this but I am a "Wait and see" person who just goes with the flow.

To be continued....
 
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