PARALLEL with the economic progress and the mushrooming of different commercial establishments in the city, is the surge of the prices of office spaces and raw lots as well.
According to a previous study by Prime Philippines, a real estate consultancy firm based in Davao City, the pricing of land properties in the city has significantly increased since 2017.
Prices of land properties in the Poblacion area are now pegged at an average rate of P70,000 per square meter as of the first half of 2018. This has increased from the P55,000 per square meter during the first half of 2017.
The same study also revealed that the land properties in Bajada-Lanang area are currently the most in-demand. They are currently priced at an average of P80,000 per square meter for the first half of 2018 as compared to P75,000 per square meter for the first half of 2017.
On the other hand, prices of land properties in the Matina area are at an average P45,000 per square meter compared to P35,000 per square meter in the same period of last year.
Prime Philippines notes that there is still high demand when it comes to commercial spaces, with local companies looking for expansion. Contributing to this demand are south-based companies looking for spaces up north and vice versa.