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Real estate prices in BGC set new record: Shang Properties’
Real estate prices in BGC set new record: Shang Properties’ Horizon Homes hits P881,000 per sqm
Property prices in Bonifacio Global City continue to soar despite the already dizzying prices.
Shang Properties’ Horizon Homes now commands a price of P881,000 per square meter, marking a notable increase from its previous transaction at P810,000 per square meter.
This surge in prices has set a new record high, according to David Leechiu, president and CEO of Leechiu Property Consultants.
Horizon Homes, situated on the corner of 3rd Avenue and 30th Street in BGC, offers only 98 units ranging from 250 to 417 square meters. With a limited number of units and just five per floor, this luxury residence puts a premium on privacy.
In close proximity to Horizon Homes is Ayala Land’s The Suites on the corner of 3rd Avenue and 28th Street.
Recent transactions reveal a significant price increase from P470,000 to P640,000 per square meter.
The 63-story tower boasts 298 residential suites spanning 136 to 430 square meters.
Leechiu attributed the rapid price growth in Horizon Homes to the scarcity of available units.
Meanwhile, in Makati, Rockwell’s Proscenium holds the title of the most expensive property, commanding P415,000 per square meter, followed by Ayala Land’s Park Terraces at P380,000 per square meter.
Philis Cruz, LPC director for Residential Department, expressed confidence in real estate investments in the Philippines, citing the consistent appreciation of property prices
“If you ask when is the best time to buy real estate, it’s always now,” Cruz said.
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