If you’re thinking of investing in real estate in Manila, you should consider Binondo as one of your choices. Even though it’s not as big as central business districts in Metro Manila, this area can still offer you a lot when it comes to opportunities. That’s why it’s still one of the first choices for luxury property developers in the Philippines.
Binondo is a Chinatown that offers Filipinos, tourists, and Chinese a slice of Chinese culture beyond the mainland. Just like other Chinatowns in the world, it features several Chinese-style restaurants, shops, and temples. It also features a few historical sites like churches and museums that offer visitors insights into the area’s past.
Established more than 400 years ago, Binondo is considered the world’s oldest Chinatown. Although it has been several centuries since the district was founded, it is still bustling with visitors and patrons who come to sample the food, shop for Chinese-style trinkets and souvenirs, or explore the area’s history.
One of the main reasons people frequent Binondo is to try the several restaurants in the area that offer authentic Chinese food. It’s become a popular thing to try among younger people that the hobby has even been dubbed the “Binondo Food Crawl.”
The restaurants that line Ongpin and other streets in the district continue to bring constant traffic to the area. Tourists from outside Manila also come to Binondo specifically for the food, which can be ideal if you are looking to invest in a real estate property here.
Aside from its restaurants, Binondo is known for the several heritage sites that line its streets. One of these is the Binondo Church, which was built in 1596. It’s still open for members who wish to attend mass and other religious services.
The district is also home to other religions. Buddhist temples, such as the Seng Guan Temple and the Kuang Kong Temple, can be found in Binondo as well. Visitors come to these temples to pay their respects and experience the culture in the area.
Binondo is also a haven for people who enjoy shopping. This district is filled with malls that can cater to every need a person can have.
There are two main malls that can be found in the district. 168 Shopping Mall and 999 Shopping Mall offer goods ranging from cheap clothes to heavy-duty appliances. Since these malls are located across from each other, shoppers can easily complete their list in one quick visit to Binondo.
In addition to shopping malls, Binondo is also famous for the gold and jewelry shops in Ongpin. Those who are looking for quality pieces of jewelry can find what they need in these shops. It is also not uncommon to find bargain deals for items that are on sale.
Students can also be found in the streets of Binondo after class hours because it’s located only a few minutes away from several Chinese schools, including Chiang Kai-Shek College, Hope Christian High School, and UNO High School. The University Belt, which houses some of the country’s most prestigious schools—such as the University of Santo Tomas, University of the East, and Centro Escolar University—is also just a few minutes away from Binondo.
The educational institutions in the area can be beneficial if you are looking to invest in a condominium for sale in Binondo. These schools can serve as a great attraction for potential tenants and buyers looking to stay close to these schools.
Binondo is a great place to invest in real estate properties. If you are looking for an area that offers quality food, shopping, heritage sites, and educational institutions, then Binondo is the best place to consider.
The district can also be an ideal investment for those who want to make a profit from renting out their properties. With the influx of customers coming from the surrounding schools and tourist attractions, there is no doubt that you can make a good return on your property purchase.