by UNTV News | Posted on Friday, 8 March 2019 02:28 PM
MANILA, Philippines – The Philippine capital of Manila has been tagged as the world’s fastest growing luxury home market for 2018, based on a study published by Knight Frank Prime International Index.h
The latest report of property consultancy agency Knight Frank showed that Manila beat obvious candidates such as Berlin in Germany, Tokyo in Japan, Paris in France and Singapore in the ranking of top cities on how much prices for luxury homes have increased in the past year.
The report said the City of Manila experienced an increase in the prices of luxury homes by 11 percent in 2018, buoyed by the Philippines’ strengthening economy and an apparent shortage of luxury homes. Also contributing to the increase in prices are the low supply and the increased demand from wealthy foreigners living in Manila.
Knight Frank also reported that the country’s economy grew by six percent in 2018, which attracted more Filipino expatriates to invest in properties back home.
But despite its top ranking, the report said the overall growth in luxury home prices is dwindling, and Manila’s price growth is still far from last year’s top performers, which saw a 21 percent overall growth. The deceleration was attributed to the end of real estate low interest rates, which boomed in 2008.
The study also cited the significant slowing down of luxury home growth in the Philippines after the developers’ renewed their focus on more affordable housing amid predictions that there is more demand in the low to medium-end markets.
Apart from Manila, the only other Southeast Asian city that made it to the top ten of list of 100 cities was Singapore, which ranked 7th overall after registering a 9.1 percent increase in luxury home prices.
In the West, Edinburgh ranked second with 10.6 percent growth followed by Berlin, Germany with 10.5 percent, Munich and Buenos Aires both with 10 percent; Mexico city ranked sixth with 9.5 percent while Madrid landed at 9th pace after registering an increase of 8.1 percent in luxury home prices.
Boston, Massachusetts in the United States ranked 8th after gaining 8.6 percent increase while San Francisco placed at 10th.
Beijing, China ranked 25th with only four percent increase while Hong Kong ranked 47th overall with 1.8 percent increase in luxury home prices. – Robie de Guzman
by UNTV News | Posted on Monday, 4 March 2019 02:12 PM
MANILA, Philippines – The Department of Transportation (DOTr) has released on Monday several photos showing the mock-up station models of the Metro Manila Subway project.
The DOTr said these models will serve as prototype of the first ever underground rail line in the Philippines.
The Metro Manila Subway project finally broke ground on February 27 after some delays due to conflict of schedules with Japanese officials.
DOTr aims to have the first three stations of the Metro Manila Subway – Quirino Highway, Tandang Sora and North Avenue – partially operational in 2022 and the remaining stations fully operational by 2025.
It will be connected to the Light Rail Transit (LRT) line 1 and Metro Rail Transit (MRT) line 3 and 7 through four common stations. Subway stations will also be accessible to land-based public transportation utilities such as bus, taxi and jeepneys.
Overall, the multi-billion peso Subway System will have fifteen (15) stations from Quirino Highway to FTI and Ninoy Aquino International Airport (NAIA) Terminal 3 in Pasay City.
With the speed of 80 kilometers per hour, the travel time from Quezon City to NAIA terminal 3 will only take around 30 minutes.
“When we announced that we are doing the Subway, many sectors did not believe. Sabi nila, ‘Subway station? Drawing lang ‘yan. Hindi totoo ‘yan.’ Sa mga nagduda, ang Subway Station po ay totoo. Ito ang magbibigay sa ating mga Pilipino ng comfortable life,” DOTr Secretary Arthur Tugade said.
The Metro Manila Subway System project outlines a program toward 2030 for sustainable development for Central Luzon, Calabarzon and National Capital Regions that would require P2.61 trillion in investment.
As the construction for the country’s first underground railway system begins, the DOTr appealed for public’s understanding as this would definitely cause heavy traffic. – Robie de Guzman
by admin | Posted on Friday, 4 January 2019 04:37 PM
MANILA, Philippines — Due to the decline in prices of food, drinks and transportation, the Philippine Statistics Authority (PSA) reported that the inflation rate in December 2018 dropped to 5.1 percent from 6.0 percent in November 2018.
Nevertheless, it is still higher compared with the 2.9 percent inflation rate of December 2017.
Metro Manila recorded a 4.8 percent inflation rate last December from a 5.6 percent rate reported in November.
Meanwhile, areas outside Metro Manila also registered a slow increase in prices of goods and services having recorded a 5.3 percent inflation rate in December.
Based on PSA’s report, the Cordillera Administrative Region registered the slowest inflation rate while the Autonomous Region in Muslim Mindanao (ARMM) has the highest annual rate at 7.5 percent. — Rosalie Coz | UNTV News & Rescue
UNTV is a major TV broadcast network with 24-hour programming. An Ultra High Frequency station with strong brand content that appeal to everyone, UNTV is one of the most trusted and successful Philippine networks that guarantees wholesome and quality viewing experience.