Dot Property was among the first to hail the property investment potential of Pampanga back in 2019. Since then, it has established itself as one of the most popular places to buy a condominium unit outside of Metro Manila with demand and prices growing steadily over the past three years.
Pampanga’s current popularity with property investors was recognized by a recent survey from Colliers Philippines that found 18 percent of respondents were thinking about buying a condo here. This was greater than Laguna, Cavite and Bulacan.
“From 2019 to 2021, we recorded an annual average take-up of 590 condominium units in Pampanga, up from the 560 units sold annually from 2016 to 2018. Condominium demand in the province is mostly driven by mid-income, upscale and luxury projects. In terms of pricing, the average price per square meter of condominium units in Pampanga is PHP113,600, higher compared to Bulacan at PHP91,100,” Colliers Philippines Research Associate Director Joey Bondoc told The Manila Times.
Infrastructure has been the primary driver of the Pampanga property market with New Clark International Airport being one of the most important projects in the province.
“New Clark International Airport will have a new terminal building that can handle up to eight million passengers annually. In our view, the expanded and modernized airport is likely to further buoy Pampanga’s stature as a property development hub in Central Luzon,” Bondoc added.
However, the airport is not the only infrastructure project happening in Pampanga. Rail and road links are making the region more accessible and creating new opportunities that didn’t exist five years ago.
“All roads lead to Clark. Improved infrastructure is being put in place to make it more accessible now – major highways such as the North Luzon Expressway and Metro Manila Skyway Stage 3, the Clark International Airport, and soon, the North–South Commuter Railway,” Ian Perez, JLL Philippines Director for Capital Markets, said. “Living in Metro Clark and working in Metro Manila central business district, and vice versa, has now become more viable. Infrastructures are being built to make traveling between Metro Manila and Metro Clark take 45 minutes (one way).”
Related: Clark continues to bring in foreign investments
Rockwell Land targets Pampanga property investors
Last year saw Rockwell Land enter the Pampanga property market with the launch of a mixed-use development in Angeles City. The project is a joint venture with Juan D. Nepomuceno Realty Group as the pair work to tap into this up-and-coming province in Central Luzon.
According to a report in the Manila Standard, the first residential building will be completed in 2025 with the remainder of the project to be launched in phases. This is the first mixed-use development outside Metro Manila from Rockwell Land but will now be joined by the Bacolod estate.
