According to international real estate research firm Colliers International, comparative land values in BGC ranged from P154,500 to P225,145 in the first quarter and are forecast to rise by 17 percent over the next four quarters.
By comparison, land values in the Makati Central Business District are from P271,501 to P296,759 but would be rising by only 6.64 percent.
Rental rates in BGC which ran at an average of P720 per square meter for Grade A office space, Colliers noted, “have continuously surpassed that of Makati since 2Q 2011.”
Colliers also forecast “new supply” of office space in BGC to hit 244,123 square meters in 2013 while in Makati CBD the new space is seen at 64,837 square meters.
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