Wednesday, May 25, 2016

Condo Rent in Metro Manila’s University and College Areas

MAY 25, 2016, MANILA: These days, condos in Metro Manila are being built close to pretty much everything, and that include colleges and universities, so it is not that difficult to find one that’s practically a short walk away from the gate of one’s school.

The great thing about this is that these real estate projects are also quite accessible to various malls, hospitals, stores, banks, and restaurants that they are attractive even to young professionals, newlyweds, and starter families.

 Lamudi Philippines analyzed its property listings data to show how much rent can students (and their parents) expect from condos near Metro Manila’s university and college districts; namely, Manila’s university belt (U-belt) and Quezon City’s Katipunan Avenue.

University Belt Area, Manila

Although technically not one of Manila’s official geographical districts, U-belt is a well-known place because of the numerous colleges and universities that dot this area. The extent of Manila’s U-belt area traditionally has been defined to start at the intersection of Pablo Ocampo Street (formerly Vito Cruz Street) and Taft Avenue, where De La Salle University is situated, going as far north as España Boulevard in Sampaloc, the location of the University of Santos Tomas. Depending on the definition of its extent, U-belt may also include colleges and universities in the Intramuros area.

Lamudi data as of May 2016 shows that the average rent of one-bedroom and studio condos in Manila’s U-belt area currently stands at Php16,241 per month, while the average size of these condos is around 29 sqm. Many of these rental condos are located in the Ermita and Sampaloc districts.

Some of the most well-known, ready-for-occupancy condos in this part of Manila include Torre Lorenzo, Crown Tower University Belt, and Avida Towers San Lazaro, while those currently preselling include Green Residences and W.H. Taft Residences (both close to De La Salle University).

Katipunan Avenue, Quezon City

Up north is the busy Katipunan Avenue, which runs north to south in Quezon City from Tandang Sora to Bonny Serrano Avenue. This busy thoroughfare is lined not just with exclusive villages but also some of the Philippines’ most well-known universities and colleges, including the University of the Philippines Diliman, Ateneo de Manila University, Miriam College, and Philippine School for Business Administration. The area is also a busy commercial hub, with UP Town Center and Eastwood City both a stone’s throw away.

According to Lamudi data (as of May 2016), the average rent of studio and one-bedroom condos in the area stands at Php16,800 per month, which is slightly higher than the average for Manila. The average size of one-bedroom and studio condos is 29 sqm.

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