Let me ask you a question, what’s the first thing that comes to your mind when you hear about living in the Visayas? Is it the idea of living in rural areas surrounded by lush greens? the unmistakable fresher air provinces have compared to Metro Manila? or perhaps sleeping through the sound of crickets singing at night? Whatever your impression of Visayas is, one thing is for sure, a lot of people choose to move from the city to live a peaceful yet vibrant rural (and suburban) life.
The Visayan region is known as the smallest of the 3 major island groups located at the center of the Philippine Archipelago. The region is divided into three administrative regions: The Central Visayas, Western Visayas Region, and Eastern Visayas.
The Central Visayas island boasts some of the country’s top tourist destinations, such as the Jewel of the Philippines- Bohol, along with the Queen City of the South and the country’s richest province- Cebu City. Although it may be argued that Cebu City is the best province to invest in real estate in Visayas, Wait until you get to know more of the provinces in the Western Visayas Region.
The Western Visayas Region
Comprising provinces such as Aklan, Antique, Capiz, Guimaras, Iloilo, and Negros Occidental, this region is known for its economic potential, natural beauty, and rich cultural heritage. The area has experienced remarkable growth and transformation in the real estate industry in recent years.
Thus, this blog post will delve into the exciting world of real estate in Western Visayas, exploring the factors driving its growth, key investment opportunities, popular destinations, and future prospects.
Economic Drivers and Growth Factors
The thriving real estate industry in Western Visayas can be attributed to various economic drivers and growth factors. The region has witnessed significant urbanization, driven by the rise of commercial and business activities, infrastructure development, and a growing tourism industry.
Cities like Iloilo and Bacolod have experienced rapid economic growth, attracting local and foreign investors. This surge in economic activities has spurred high demand for for residential, commercial, and industrial properties.
Residential Real Estate
The residential real estate sector in Western Visayas offers a diverse range of property options to cater to different market segments with the right property. Affordable housing projects have been developed to address the housing needs of the country’ growing middle-income population, while luxury condominiums and subdivisions provide high-end living experiences.
Real estate developers are offering many opportunities to own properties or lot for sale with an array of products, with varying floor area, from studio unit to 4 bedroom house and lot. They also present different price range, payment and finance options for different market types.
The region’s picturesque coastlines and beautiful landscapes have also given rise to beachfront properties and vacation homes, attracting both local and foreign real estate investment.
Commercial Real Estate
Western Visayas is witnessing a boom in commercial real estate, particularly in cities like Iloilo and Bacolod. Office spaces, retail centers, and mixed-use developments are rising to accommodate the growing business and commercial activities.
These cities have become attractive destinations for companies seeking out locations to expand their operations or establish regional headquarters. The presence of business process outsourcing (BPO) companies has further become business hubs and contributed to the demand for commercial spaces.
Tourism and Hospitality-Related Investments
The tourism sector in Western Visayas is flourishing, driven by the region’s natural wonders, cultural festivals, and historical landmarks. As a result, there is a growing demand for both property and hospitality-related investments, including hotels, resorts, and vacation rentals. Boracay Island in Aklan, known for its pristine beaches, has been a significant magnet for tourism and real estate development.
Other destinations like Guimaras, Antique, and Iloilo City are also witnessing increased tourist arrivals, leading to opportunities for investment in accommodations and related infrastructure.
Future Prospects
Looking at several industries ahead, the real estate industry in Western Visayas is poised for further growth and development. Excellent infrastructure projects such as airports, roads, and bridges will enhance connectivity and accessibility, attracting more regional investors and visitors.
The real estate industry in Western Visayas presents a wealth of opportunities for investors and developers alike. With a robust economy, growing urban centers, and a thriving tourism sector, the region offers a favorable environment for real estate investments. Western Visayas offers diverse options, Whether residential properties, commercial spaces, or tourism-related ventures.
Challenges
However, according to local real estate experts, challenges such as land availability, regulatory processes, community will, and environmental sustainability must be addressed to ensure sustainable growth in the sector. Collaboration between government agencies, developers, and local communities is crucial to navigating these challenges successfully.
As the region evolves, prudent research, consultation with local experts, and strategic decision-making will be essential for those seeking to capitalize on the potential offered by the dynamic real estate industry in Western Visayas.
Choose The Right Real Estate Investment For You
All things mentioned, exploring the vibrant real estate industry in Western Visayas reveals a landscape rich with opportunities for investors and developers. Among many investors the prominent players in this market are Camella and Vista Estates, both renowned for their quality developments, services and commitment to creating sustainable communities.
Developer with Wide Geographic Reach
Camella, the country’s trusted local real estate experts, has been building master planned communities expanding from major cities to 47 provinces and 149 key cities. Camella thrives on delivering every family their dream home equipped with world-class amenities.
Those who plan on investing are settling to build residential projects that cater to the diverse needs of homebuyers in the region. On the other hand, Vista Estates has made its mark with well-designed and strategically located developments encompassing residential, commercial, and mixed-use properties.
With the combined efforts of these industry leaders and the region’s economic growth, Western Visayas continues to shine as a promising destination for real estate investment.
When considering real estate investments in Western Visayas, there are a few key factors to keep in mind, including location, target market, price, and the reputation of developers. In this region, two prominent players in the real estate market are Camella and Vista Estates. Here’s a breakdown of their strengths and the potential opportunities they offer:
Trusted Developer
Trusted local real estate developer with a strong presence in major cities, provinces, and key cities across the country. They have established themselves as experts in building master-planned communities that cater to the diverse needs of homebuyers.
Camella focuses on delivering dream homes equipped with world-class amenities. If you’re looking to invest in residential projects that cater to families in Western Visayas, Camella’s extensive portfolio and commitment to quality make them a reliable choice.
Camella projects in Western Visayas
Here are some notable Camella projects in Western Visayas:
- Camella Bacolod: Located in Bacolod City, Negros Island, Camella Bacolod offers various house and lot options in a well-planned community. It provides amenities such as a clubhouse, swimming pool, parks, and playgrounds.
- Camella Bacolod South: Located not far from Camella Bacolod, the South property is a master-planned community of charming house and lot properties that offers a range of options for sale to suit different needs and preferences.
- Camella Manors Bacolod: It offers condominium units designed for comfortable and convenient living. It is situated in a strategic location within Bacolod City, providing convenient access to key establishments, schools, hospitals, shopping centers, and transportation hubs.
- Camella Savannah – Iloilo: Situated in Iloilo City, Camella Iloilo features beautifully designed homes and a range of amenities. The development is known for its well-manicured landscapes, jogging paths, clubhouse, and basketball court.
- Camella Capiz: Found in Roxas City, Capiz, Camella Capiz offers quality homes within a secure and family-friendly environment. Amenities in this development include a clubhouse, swimming pool, and landscaped gardens.
- Camella Aklan: Located in Kalibo, Aklan, Camella Aklan provides homebuyers with a selection of house models in a well-planned community. It offers amenities like a swimming pool, basketball court, and playground.
Other projects of Camella in the Visayas include the following:
Camella Riverfront, Camella Riverdale, and other Camella projects in Cebu City near Mactan Cebu International Airport and Cebu Cordova Link Expressway and Lapu-Lapu City. Camella Bogo, Camella Carcar are also in prime location in Cebu. Camella Ormoc and Camella Palo in Leyte and Camella Bohol in Tagbilaran City, Bohol.
