A case in example is the fast sell out of Bel-Air Soho which sold out all 146 units in just five months. Bel-Air Soho is a residential condominium located in Polaris Street in prime Makati Avenue. According to owner and developer Century Properties-Meridien Development Group chief executive officer Ricardo Cuerva, "There seems to be growing market for affordable yet centrally located and quality homes."
Following the success of Bel-Air Soho is Soho Central, a 35-story residential project situated in the middle of the EDSA central redevelopment. The Soho brand showcases a unique lifestyle that comes with living in a prime city center location. Imagine enjoying all the comforts and convenience of a live, dine, shop, work and play enclave at the heart of a progressive metropolis for only P8,000 a month.
Leisure facilities are mainly within walking distance or at least easily accessible by public transport, which cuts down on travel time and expenses. Soho Central will directly connect to Shangri-La Plaza and Edsa MRT Station and short distance away from Edsa Central Market, SM Megamall, the Podium, and Medical City. Also in close proximity and offices, schools, churches and hotels. "City center living does appear to promote more sustainable lifestyles and the attraction and ‘stylish appeal’ of ‘work and play’ on the doorstep can be very tempting especially to young urban professionals," adds Century Properties chairman Jose EB Antonio.
But it is not just individuals who have begun to take more of an interest in properties within the city centers. Many larger corporations have realized the potential of buying comfortable apartments as a means of accommodating visiting employees as an alternative to paying expensive hotel bills. Investors too are more aware that the rental market for prime locations is likely to remain strong.