With so many condos for sale in the market, it can be hard to decide where to invest your hard-earned money. One factor that could make or break a property’s value is proper urban planning.
What is urban planning, anyway?
An urban planner’s main goal is to provide guidance in designing a sustainable community. They do this by dividing land and other resources to meet the needs of its current and future residents. Each planning decision is vital, as it can affect the final shape of a city and the value of its properties. Urban planning can also give a city its “character,” so to speak.
But how does urban planning affect your real estate investments, exactly? Read on to find out:
Fulfilling a Community’s Needs
A community’s design should cultivate social and cultural enrichment through its public amenities. Thus, it’s important to plan for parks, schools, and hospitals, to name a few. Additionally, millennials prefer to buy properties that will lead to better life experiences.
Easier access to public facilities make life more convenient for the average buyer. These properties, such as condos in BGC, tend to sell for higher prices as a result. But properties that are too close to public infrastructures, such as noisy train stations, may be less desirable. Proper urban planning, especially in up and coming neighborhoods, can help balance concerns such as accessibility and privacy.
Preparing for Natural Disasters
It can be harder to sell properties in areas that are more vulnerable to natural disasters. Experiencing these catastrophic events can change potential buyers’ preferences. They may avoid properties near fault lines or within flood-prone areas after events like Typhoon Ondoy.
Proper urban planning could help communities avoid such disasters. Developers can also use adaptive architecture to disaster-proof existing properties. This, in turn, can make once affected properties, such as house and lots for sale in Marikina, more enticing.
Encouraging Economic Growth
Designing communities to attract and protect existing businesses can also entice more investors. More working professionals also results in a higher demand for residential areas. This makes investing in condos in Makati a very lucrative option. The same holds true for possible “next big locations,” such as Iloilo or Northern Quezon City. Investors also look at investments that provide opportunities for high-profile jobs, such as those in the tech and finance sectors.
But before making any business proposals, urban planners first study a community’s economic profile in-depth. This helps them get a good idea of its existing industries. After this, they can suggest what jobs would best suit certain communities. This, in turn, will inform how they’ll use existing land to support that area’s economic growth.
It’s important to understand how urban planning could impact your real estate investments. After all, as long as there are new or existing communities to live in, urban planning will always be a necessity.
Luckily, Avida Land values the development of safe and sustainable estates. With condos for sale in Makati, Tagaytay, Cebu, Davao and more, you’ll have plenty of options for your real estate portfolio.