Makati City remains the country’s premier central business district (CBD), consequently making it one of the top cities for residential living. With a myriad of corporate headquarters, an array of shopping complexes, and various financial institutions, Makati City is not only a progressive metropolis but a thriving cosmopolitan as well.
Without a doubt, any list of the most livable cities in the Philippines would be incomplete if it failed to include Makati as a primary choice. In fact, in most records, this city even tops the list. As the known Financial Center of the Philippines, there should be little to no doubt that this vibrant and dynamic city would attract and entice both foreigners and locals alike. With the allure of a diverse locale and progressive economy, it would be understandable why the city would attract both potential residents and prospective investors.
As one of the most vibrant cities in the Philippines, Makati City offers an urban living experience with an unbeatable city lifestyle. Indeed, if one is looking to establish a career, find business and job opportunities, or want to enjoy an urban lifestyle, there is no better place to do it in the Philippines. Still unconvinced? Here are some of the facts that make Makati City the most viable place to live in the country.
Facts about Makati City
As of 2015, Makati earned nearly PHP14 billion in total revenues.
According to the Office of the City Treasurer, this figure is higher by a whopping 9 percent from its 2014 data.
Makati is self-sufficient.
It is one of the few local government cities that does not depend on the internal revenue allotment granted by the national government, making their figures a true testament to the city’s economic progress.
Land values in Makati appreciate over time.
In fact, the land values in Makati are higher than the average in most cities in Metro Manila. In this regard, you can be assured that any investment in Makati’s various real estate properties will consistently appreciate over time. In fact, the average price is higher than for most cities in Metro Manila.
Real estate properties have the highest leverage.
With Makati’s strong economy complemented with foreign investment, land values are boosted to unprecedented heights, giving real estate investors more leverage in managing the price point of their properties.
Residential developments are continuous.
As of 2015, there are 189 condominium developments and buildings in Makati that give prospective home buyers and investors a wider scope in terms of real estate property options.
The rental business is one of the most lucrative.
The average residential capital value in Makati CBD is at Php 151,323 per square meter per month, which is higher than Fort Bonifacio’s Php 150,048 per square meter. The steady rise of real estate capital values has also led to the resultant increase in rental prices. Residential units have a rental rate of Php 883 per month on average, only slightly lower than BGC’s Php891 per month.
Makati City is the financial hub of the Philippines.
As the financial hub of the country, it should come as no surprise that Makati hosts a myriad of commercial and retail establishments. In 2015 alone, a whopping 4,211 new businesses have registered. By 2017, Makati has 83,353 establishments with 569 banks, 62 shopping centers and malls, 44 PEZA-Registered IT Buildings, 46 Embassies, 36 consulates, and 4,357 other finance-related institutions.
Makati is an ideal location for businesses.
It is considered as one of the premier areas for business enterprise. The city’s robust economy has strengthened its appeal as an ideal business location, whether for mega-corporations, start-up companies, or other businesses and enterprises.
Top corporations in the Philippines have their HQs in Makati.
Most of the country’s top corporations have their headquarters stationed in Makati. Apart from that, Forbes-listed companies and operations within Makati such as Microsoft, Nestle, Shell, Colgate-Palmolive, Accenture, Intel, and Syngenta have regional offices and headquarters in this city.
Makati hosts international banks and other financial institutions.
Makati boasts of financial activities that rival only the principal cities of regions such as Singapore and Hong Kong. In this regard, Makati has an excellent selection of foreign banks, with headquarters in the city apart from the local commercial banks.
Makati has one of the most numbers of malls out of any city in the Philippines.
With 62 shopping centers, malls, and establishments, there are diverse retail options to choose from. On top of that, some residential developments and projects that feature their very own lifestyle malls promote a self-sustaining community within this bustling city.