Knight Frank says Alabang is next ‘hotspot’ in Metro Manila’s sizzling property market
Property advisor Knight Frank has tagged Alabang as the next “hotspot” in Metro Manila which has been rated as the world’s top luxury home market in 2018.
Alabang is one of 18 “ones to watch” neighbourhoods that “follow include thought-provoking options in traditional wealth hubs.” .
In its 2019 Wealth Report, Knight Frank Philippines’ Jan Custodio said: “Alabang is poised to be the next hotspot in Metro Manila, with a series of major infrastructure and development projects set to enhance the area’s accessibility and appeal. The biggest road project, Skyway Stage 3, is due for completion in mid-2020, and will provide a seamless connection between the north and south of the metropolis through an elevated link road that connects the North and South Luzon Expressway systems.”
Knight Frank tagged the Ayalas’ Alabang Town Center, the Gotianuns’ Filinvest City, and Andrew Tan’s Alabang West project as the key drivers to Alabang’s growth.
Knight Frank rated Manila as the world’s hottest luxury home last year with prices surging by 11 percent in 2018 based on its Prime International Residential Index (PIRI 100) which measures the price gain of homes in 12 months.
The other residential hotspots picked by Knight Frank experts are:
1) Wynyard Quarter, Auckland
2) Yangpu Riverside, Shanghai
3) Hung Hom, Hong Kong
4) St. Kilda Road Precinct, Melbourne
5) Delray Beach, Florida
6) Pasadena, Los Angeles
7) The West Coast, Barbados
8) Friedrichshain, Berlin
9) Trois Chénes, Geneva
10) The Seaport District, Boston
12) 11th arrondissement, Paris
13) Downtown Extension: DIFC, World Trade Centre and Za’abeel, Dubai
14) Chelsea, London
15) Castellana Norte, Madrid
16) St Jean District, Côte d’Azur
17) Lucca, Italy