Bulacan is growing as an attractive option for real estate investments. The demand for homes is fueled by economic growth and the infrastructure projects that will benefit the province.
The province of Bulacan is increasingly becoming a preferred destination for real estate investments, as people and businesses continue to move away from congested Metro Manila and into nearby areas.
Bulacan enjoys close proximity to Metro Manila and is described as the Gateway of the North because it is the first province that meets travelers heading down the North Luzon Expressway, or NLEX. It is surrounded by the provinces of Pampanga to the west, Nueva Ecija to the north, Aurora and Quezon to the east, and Rizal to the south.
The province, which is home to 21 municipalities and three component cities, has the fastest-growing economy in Central Luzon. Its population has also grown significantly over the previous decade, with 3,708,890 people, according to the 2020 census. Headlining Bulacan’s economic growth in the real estate sector are the municipality of Bulakan, the city of San Jose del Monte, and the city of Malolos.
Headlining Bulacan’s economic growth in the real estate sector is the municipality of Bulakan, the city of San Jose del Monte, and the city of Malolos.
Bulakan
Bulakan, the province’s namesake, is one of Bulacan’s first-class municipalities. Located in the province’s southwestern part, it is one of the oldest towns in the Philippines, with a population of 76,565 people, according to the 2015 census. Before it became Bulacan’s first capital, Bulakan was the capital of Provincia de la Pampanga.
Its proximity to Metro Manila, at just 35 kilometers away from the National Capital Region, has made Bulakan a bustling hub of economic activity, despite its status as a municipality.
Bulakan has several major infrastructure projects in the works, which has made the municipality’s real estate market more attractive. Camella, the Philippines’ largest homebuilder, is one of the major real estate developers in the town with a 13.2-hectare project. Another developer in Bulakan is Rockavilla Realty and Development, with a 3-hectare residential project in Brgy. San Nicolas.
San Jose del Monte
San Jose Del Monte, which is located just north of Caloocan and Quezon City, is a suburban city with a population of 574,089 people, according to the 2015 census. It is the 19th most populated city in the Philippines, with the distinction attributed to both natural growth and inland migration.
The National Housing Authority determined San Jose del Monte as a resettlement site for informal settlers from Metro Manila, particularly Manila, Makati, Taguig, and Quezon City. The city’s Sapang Palay Resettlement Project is one of the biggest resettlement areas in the Philippines; with a population of 250,000 people, is as much as a medium-sized city and three times more than the municipality of Bulakan.
Meanwhile, the city’s demand for mid-end and high-end real estate markets makes San Jose del Monte a hot spot for housing development. Homebuilders are drawn to its distinct blend of an urban environment with ease of access, resulting in investments in the growing metropolis. Major developers in the city include Ayala Land, which injected an investment of Php 6.8 billion into San Jose del Monte to build the mixed-use project Altaraza Town Center, and Camella Homes by Vista Land, which has already put up three subdivisions in the city.
Malolos
Malolos is the capital of the province of Bulacan. It is a third-class city composed of 51 barangays, and is very accessible from the National Capital Region as it is located just about 45 kilometers away from Manila.
The city has deep historical roots and features an archaic ambiance, but it is quickly becoming a highly urbanized city. The North-South Commuter Railway Project contributes to this development, which will connect Manila to Clark, Pampanga. Malolos is serving as the project’s temporary endpoint, benefiting the city.
Malolos has started attracting investments from major real estate developers, including Avida Land and Asian Land. Another developer operating in the city is Camella with the 300-hectare Camella Provence, a residential development that is one of the most coveted communities in Malolos.
Bulacan Real Estate on the Rise with Infrastructure
More business investments, including into the real estate sector, are in the cards for Bulacan over the next several years. The demand for housing units in the province is expected to continue rising, pushing property developers to expand their affordable housing projects in Bulacan to take advantage of the bullish market and its high purchasing power.
The close proximity to Metro Manila and the low costs of land have attracted investors to Bulacan, but another significant factor is the aggressive infrastructure development around and within the province. Stage 3 of the Metro Manila Skyway System will first extend it from Gil Puyat in Makati to Balintawak in Quezon City and then connect the north end to the NLEX. Once completed, the Skyway will further open Bulacan to future developments by providing easy and fast access to the province, decreasing costs for businesses looking to operate there.
The Metro Manila Rail Transit System Line 7 is another important project for Bulacan. The 22-kilometer construction will add 14 stations from North Avenue in Quezon City to San Jose del Monte, which will provide additional convenience for the residents of Bulacan who commute daily into Metro Manila. MRT-7 is set to be completed by 2022 and is expected to further drive up the province’s real estate sector, making it an even more viable home location option for the working class. As of 2022, MRT-7 is already 60% completed.
The proposed Bulacan International Airport, which will span an area of 2,500 hectares within the municipality of Bulakan, will further increase accessibility to the province. An MRT Loop with an airport express is also proposed to connect Metro Manila to the planned aerotropolis, further driving up foot traffic heading towards the province. The public transit will connect Bulakan with EDSA, providing another option for travelers.
Other provinces’ developments include the Bulacan Bulk Water Project and the plan to establish a Techno Hub, making a living in Bulacan even more appealing to potential home buyers.
Notably, most of the infrastructures that will benefit Bulacan, in the long run, are not proposals but rather actual, ongoing projects that are on their way to completion. People living in the province will soon be able to enjoy the convenience and accessibility provided by these projects, and real estate developers are already ramping up their activities to meet the expected demand increase once these infrastructures start coming online.
Bulacan Real Estate Investment: Arrow Pointing Up
Real estate investments in Bulacan have no way to go but up, fueled by the province’s economic growth and with soon-to-be-completed infrastructure projects expected to make a living in Bulacan more convenient and the worth of its properties more lucrative.
Bulacan is proving itself as a preferred option for both homebuyers and investors. Before the real estate demands further balloons, it would be wise to already buy into the blossoming province.
Source: “Investing in Bulacan Real Estate: What You Need to Know“, Lamudi, January 10, 2019, https://www.lamudi.com.ph/journal/investing-in-bulacan-real-estate-what-you-need-to-know/