Understanding why now is a prime time to invest in luxury real estate involves recognizing several pivotal factors that create a favorable environment for high-end property investments. Manila’s luxury property market is experiencing a surge in demand driven by an increase in high-net-worth individuals and expatriates seeking upscale living options in the city’s most exclusive and coveted neighborhoods.

In 2023, Santos Knight Frank, the Philippine’s first and largest fully integrated real estate services provider, revealed remarkable findings in Metro Manila’s high-end property listings. Prices of luxury condominiums in the region skyrocketed to an impressive 21.2 per cent, marking the fastest growth rate globally. For comparison, Dubai’s luxury residential prices rose by 15.9%, while Shanghai jumped by 10.4 per cent. This dramatic rise underscores the city’s emerging prominence in the global luxury real estate market and highlights its exceptional investment potential.[1]

Who are buying?
The luxury real estate market attracts a diverse array of buyers, each with distinct motivations and profiles.

• Luxury Acquirers are typically established entrepreneurs and seasoned business executives who view high-end properties as both a status symbol and a stable investment.
• Luxury Definers, on the other hand, are some of the region’s most influential industry leaders who leverage their prominence to secure properties that reflect their public personals and serve as a testament to their achievements.
  
• Finally, Luxury Risers represent the younger generation, including millennials entrepreneurs and emerging leaders. Driven by a blend of ambition and a taste for modern sophistication, they invest in luxury real estate as a way to mark their entry into the upper echelons of society and purchase assets that resonate with their forward-thinking lifestyle.
  

Why are they buying?

According to Knight Frank’s Prime Global Cities Index, this strong interest in Philippine luxury developments can be attributed to several aspects. Foremost is the city’s limited supply of prime residential properties, which significantly drives up average prices due to high demand from affluent buyers. Additionally, Manila’s appeal extends beyond local investors, with a growing number of international buyers actively seeking to lease or purchase luxury properties in the city.

What makes Metro Manila particularly attractive to foreign buyers is its pricing. Despite significant price growth, land here remains relatively affordable compared to other global real estate markets. Its competitive pricing in the prime residential sector makes it a compelling destination for investment opportunities.

2024 is the year to buy

2024 is “the year to buy” as strong business confidence and resilient economic performance are expected to intensify the competition for the next luxury real estate. 

In the luxury real estate space, several developers are making a significant impact with their flagship high-end listings. Notable among them are Anchor Land’s upcoming crown jewels: Copeton Baysuites West Tower in Bay City Manila, One Legacy Grandsuites in Manila Chinatown, and The Panorama Manila along Roxas Boulevard.

Copeton Baysuites West Tower

Within the thriving locale of Bay City Manila is Copeton Baysuites West Tower, an iconic development poised to set a new standard for refined bayside living. Inspired by the diamond, Copeton Baysuites’ distinct architecture exudes unmatched value and grandeur, catering to the refined tastes of its elite residents. 

Designed to foster an exclusive community of the most distinguished individuals, Copeton Baysuites offers the comforts of low-density living, with each suite offering state-of-the-art facilities and superior furnishings, complemented by stunning views.

One Legacy Grandsuites

One Legacy Grandsuites, Anchor Land’s flagship residential tower and the tallest skyscraper in Manila Chinatown, embodies the essence of luxury. Created as a refined retreat within the vibrant trade district, this landmark offers residents a serene escape with its elegant living spaces and exclusive, club-in-a-condo amenities.

The Panorama Manila
The Panorama Manila is a residential skyscraper that ascends to new heights of luxury bayfront living along Manila’s historic waterfront promenade, Roxas Boulevard. Designed to blend the natural beauty of Manila Bay with contemporary cityscapes, The Panorama Manila promises to offer limitless views and over-the-top amenities, right in the heart of the capital’s tourism gateway.

Luxury developments remain within reach for only a select few, and buyers of luxury products are prepared to pay a premium for more than just the space. They invest in these properties for the exceptional level of tailored comfort and exclusivity they offer. 

For more information about Anchor Land projects, visit www.anchorland.com.ph

[1] A. Santos Knight Frank. Manila: A Global Prime Spot. https://santosknightfrank.com/articles/manila-a-global-prime-spot/. 2023.