Buying a unit in DMCI Homes’ Viera Residences development in Quezon Cityhas proven to be a wise decision for buyers after the single 28-level tower residential condominium project posted impressive increase in capital yield since it was turned over to homeowners in 2017.
The modern symmetry-themed development in Scout Tuason Avenue, Brgy. Obrero, Quezon City recorded a 28 percent jump in selling prices from January 2017 to February 2018, indicating its fast growing market value.
Viera Residences which marked ready for occupancy (RFO) status in October 2017—five months ahead of its original March 2018 turnover schedule—is strategically located near business establishments and leisure strips along Tomas Morato, Timog and Roces avenues in Quezon City.
Apart from its awe-inspiring resort-inspired amenities, the project’s excellent location gives unit owners an advantageous takeoff point going to top learning institutions, government agencies, nature parks and neighboring commercial centers in the former Philippine capital.
Viera Residences’ 1-bedroom and 2-bedroom unit offerings, which range from P2.8 to P7.2 million, were sold out even before the property marked RFO last year, reflecting the increasing demand for housing units in the city.
Property consultancy firms have projected double digit hike in office supply in Quezon City until the year 2020 which translates to bigger housing demand.
As of 2014, there are 66,644 registered businesses in the city according to the Quezon City government website with some 12,600 new businesses added every year that include Information Technology-Business Process Outsourcing firms.
Dubbed as the “green lung” of Metro Manila with its open spaces and nature parks, Quezon City has always radiated a vibrant yet homey vibe which has made it a preferred place to stay for urban dwellers.
Already the most populated city in Metro Manila, its number of inhabitants is still projected to hit over 3.1 million by 2020 from 2.7 million in 2010 especially with upcoming government infrastructure projects in the area.
One of the big ticket ventures expected to benefit residents is the Metro Manila Subway Project that is planned to span the provinces of Bulacan and Cavite. The first phase of the project will pass through Mindanao Avenue, Tandang Sora, North Avenue, Quezon Avenue, East Avenue, Anonas, and Katipunan all the way to FTI in Taguig.
All these factors have made Quezon City a hot real estate destination, spurring a condo construction boom in the identified growth centers namely CBD Knowledge Community District, Cubao Growth District, Batasan-NGC Growth District, Novaliches Growth District, and Balintawak-Muñoz Growth District.
Apart from Viera Residences, DMCI Homes other residential condo developments in Quezon City such as Zinnia Towers and The Celandine in Balintawak, Infina Towers in Aurora Boulevard, and The Orabella in Cubao have also recorded brisk sales owing to their excellent proximity to practically everything that the city has to offer.
[source: DMCI Homes]
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