Aurelia Residences of Shang Robinsons Properties Inc. is the hottest luxury condo in the Philippines, according to Leechiu Property Consultants.
In its latest full year report on the local property market, Leechiu said prices in the 285-unit project jumped 18 percent to between P405,000 and P657,000 per square meter in 2021 from P422,000 to P559,000 per sqm the previous year.
The elegantly designed condo on McKinley Parkway in Bonifacio Global City (BGC) is a collab between Architect Brian Lee of world-renowned architectural firm Skidmore, Owings & Merrill LLP (SOM) and elite design company FM Architettura d’Interni founder Francesa Muzio.
The second biggest gainer is Ayala Land Inc.’s Park Central Towers where unit prices shot up 12 percent to between P418,000 and P562,000 per sqm in 2021.
Park Central, which is being built on the former site of Mandarin Hotel at Roxas Triangle in Makati City, currently has two 69-story towers under construction – the South tower will have 281 units and the North tower will have 259 units.
The gold standard of ultra-luxury high-rise living is the 98-unit Horizon Homes at Shangri-La the Fort, which is still the most expensive piece of real estate in the country.
Horizon Homes prices gained five percent year on year to between P599,000 and P786,000 per sqm in 2021.
The Estate of ST 6747 Resources Corp. (STRC), the joint venture of the Sy and Ty families, is the most sought after in the Makati business district,
The 54-story tower along Ayala Avenue rose two percent year on year to between P526,000 and P670,000 per sqm.
“Luxury condominium prices continue to increase despite 18 months of COVID-19 lockdowns,” said Leechiu.
“Capital values for luxury projects have continued to grow despite the economic downturn which shows the strong capital preservation of these assets,” it added.
SOURCE: Bilyonaryo
