Property values in the 62-hectare Alabang West, a Beverly Hills-inspired township development of Megaworld’s Global-Estate Resorts (GERI) have soared 19 percent less than a year after the launch of its high-end Alabang West Village.
From P47,000 per sqm in October last year, land prices in Alabang West have increased to P56,000 per sqm as of September 30 this year. To date around 80 percent of the total 788 residential lots have been sold.
Rachelle Peñaflorida, Vice President for Sales and Marketing of Megaworld Global-Estate Resorts, Inc., said the fast take-up of village lots in the township can be attributed to the township’s strategic location and brighter prospects for fast value appreciation of the property.
“There has been a sharp rise in the demand for residential lots in Alabang West in the past six months.
“As far as location is concerned, Alabang is not just an option but top-of-the-mind to many property buyers especially those who are looking into the south,” explained Peñaflorida.
Earlier this year independent research firm Cuervo Far East identified the Southern Manila West Growth Area (WGA), which includes Alabang, to be experiencing a remarkable average annual appreciation of property values by 10 percent to 15 percent until 2019 due to new developments by the biggest real estate developers in the Philippines, such as Megaworld.
“We have even exceeded the average annual appreciation forecast, which is a good indication of the property market in Alabang, especially for Alabang West. The entry of our township into this booming side of southern Metro Manila is a perfect timing,” said Penaflorida.
Alabang West integrates a Beverly Hills-themed lifestyle into its commercial, retail and residential developments. Aside from a shopping strip inspired by the famous Rodeo Drive in Hollywood, Alabang West also offers an upscale residential community with lots ranging from 250 to 800 sqm.
Alabang West Village offers first-class amenities that include badminton and basketball courts, function halls, cabanas, game room, café and al fresco dining areas, a fitness center, pocket gardens, open parks and infinity pool, among others.
Located beside Alabang’s high-end communities and golf course, the township is accessible through major access points in South Luzon Expressway, including Alabang Exit, Filinvest Exit, and the newly-opened Daang Hari Exit.
