You probably seen a mixed use space as you travel in Bonifacio Global City in Taguig perfectly encapsulates the one stop shop living that many younger Filipinos often crave for. This business district has it all: malls, condominiums, parks, restaurants, and art spaces.
Another example, SMDC‘s Light Residences in Taguig, offers not only residential but also commercial establishments like cinemas, shopping stalls, and food chains.
But what makes the mixed use development a must see trend in local real estate nowadays? We gathered the different driving forces that makes people go gaga for this type of development.
1. New found purchasing power
More work, more play. Thanks to the booming economy, Filipinos now have a new found purchasing power that does not limit them to make good real estate choices. Because of the sudden bloom of the IT industry in the Philippines, more people are getting work and are expecting for a good time in exchange for their hard work. The ‘live-work-play’ attitude is definitely reflected in real estate.
2. The headache inducing transportation system
Philippine transportation system has hit an all time low in 2015. Suddenly, a normal one hour drive can turn into a hellish four hour penance on the road during rush hour. And it’s not only in Manila – even nearby provinces are experiencing hellish traffic. Because of this, Filipinos opt for developments that has it all, just so they can avoid getting stuck in EDSA. With mixed use developments, Filipinos can easily walk to their work and to other key developments that they need.
3. A need for a holistic experience
Living in a mixed space development allows buyers to experience a holistic lifestyle. They can go to work during the day and enjoy their money during the night, without experiencing any stress.
4. Land use efficiency
Even real estate developers are in love with the idea of mixed use. The use for land is more consumptive and efficient since a small space allows a diverse and wide range of use. It’s also a step towards vertical cities, that can help the Philippines reach sustainability and end the problem with over population.
5. Stronger neighborhood character
Since mixed use developments are considered a compact space, it builds a bond between the people who live there. The space that is used becomes the tie that bounds the people making the Filipino spirit of bayanihan alive and well.
6. Pedestrian and bicycle friendly
Mixed use developments also allow space for people to enjoy long walks and bicycle rides. This mode of transportation is not only beneficial to our physical health but also to the environment, making mixed use development a sustainable option.
For the ultimate urban lifestyle, this new real estate trend is definitely the way to go. Will you give mixed use properties a chance?
Image source: http://www.persquare.com.ph/for-sale/condominium-ncr-metro-manila-pinas/rent-to-own-2-bedroom-near-festival-mall_13504 – RDA Construction and Realty Development Inc