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Fortis Residences | February 22, 2023
Brio Tower, DMCI Homes’ first condominium project in Makati City. (file photo)
Makati City remains to be the Philippines’ primest location for business, which explains high property values for both residential and commercial spaces within it.
The monthly amortization or total contract price for Makati real estate may seem disheartening at first, but the price tag is proof that the property you are acquiring wields strong potential to generate big returns in the future.
Take DMCI Homes’ Brio Tower as an example. Brio Tower is the company’s first condominium project in Makati that started construction in 2016. The pre-selling list price in September 2014 averaged P81,674 per square meter (sqm). The total contract price then for a one-bedroom unit was at P2.69 million, P4.66 million for a two-bedroom unit, and P6.34 million for a three-bedroom unit.
Just a month later, the average list price per sqm rose by 5% to P85,826. By December 2019, the valuation already grew to P148,813/sqm — an 82% increase in five years. The high-rise condominium features 30 residential floors and five parking levels in the Guadalupe Viejo area.
As of May 2022, Brio Tower units are averaging at P168,131/sqm, already more than double its September 2014 market value, and is most likely to sustain this upward trend in the years to come.
Artist’s illustration of Fortis Residences, DMCI Homes’ second project in Makati City.
The uptrend is similar to other DMCI Homes developments nationwide.
From an average contract price of P831,226 for a two-bedroom DMCI Homes unit in 1999, market values have consistently climbed through the years. The average total contract price of a DMCI Homes unit doubled in 2003 (P1.96 million), and tripled in just 10 years at P2.71 million by 2009.
The average contract price of a two-bedroom unit stands at P7.5 million as of end-2022, with the higher market value indicating greater willingness to pay among potential buyers over time. If you were among the earliest DMCI Homes buyers, you would have already grown your investment by as much as ninefold!
The steady increase in market value matches the sustained growth in zonal values, too. Data from the Bureau of Internal Revenue showed strong compounded growth in zonal values all over Makati, with the Bangkal area near Fortis Residences fetching a 7.1% annual appreciation for residential condo units. This translates to a fivefold increase in property value assessments by the tax bureau. The pace is similar for other barangays surrounding Fortis. The San Lorenzo area is seeing a 10.3% compounded annual growth in zonal value, while the pace is 5.5% for the Magallanes area, located south of Fortis.
Condominium prices appreciate because of property location as well as commercial developments surrounding it. DMCI Homes’ high quality standards also boost property values as investors and home buyers are assured of the structural integrity of buildings and individual units.
The Fortis Residences by DMCI Homes Exclusive is your chance to acquire a prized Makati property. Following the success of Brio Tower, Fortis is the next big thing worthy of your investment. The property is located along Chino Roces Avenue, a portion of which is being developed by the city government as the Makati Southwest Gateway — a mixed-use district of residential developments and commercial hub with restaurants, offices, and lifestyle facilities.
Fortis Residences is designed for upgraded living, with bigger cuts per unit, sophisticated furnishings, and majestic views of Metro Manila, all while maintaining sustainable and future-ready facilities. Find out more about the property here: 5 Reasons that make Fortis Residences a wise investment
Underpinned by exceptional quality that DMCI Homes has long been known for, each DMCI Homes Exclusive property is designed to possess an inherent rarity, be it in location, master plan or development features.
To learn more about Fortis Residences, log on to www.dmcihomes.com or call (632) 5324-8888. News and other updates are also posted on the company’s official website and its social media accounts on Facebook, Twitter, Instagram, and YouTube.
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