Which is Better for Property Investment: Quezon or Sorsogon?
9 June 2023Real estate investing, if done correctly, can give real estate investors significant financial returns. One does not even have to invest in residential or commercial real estate if they opt for real estate investment trusts (REITs) as an initial investment in the property sector.
But for those who prefer to generate income through a rental property in popular tourist destinations such as the provinces of Quezon and Sorsogon, there are a number of things to consider before proceeding to make an irrevocable investment choice. In this article, we'll discuss what these factors are and help you decide which provincial location makes for an excellent property investment for rental income.
Quick Facts about Sorsogon and Quezon
But first, let's get to know more about Sorsogon and Quezon and what makes them highly attractive among homebuyers, real estate developers, as well as local and international tourists.
Quezon Province: The Land of Thousand Colors
Formerly known as "Kaliraya" and "Kalilayan," the Quezon Province (not to be confused with Quezon City in Metro Manila) is monikered the Land of Thousand Colors for its perfect mix of cultural and natural attractions. Lucena City is its provincial capital, which is highly urbanized and independently governed for this reason. Quezon is also called the "Cocolandia" as it is the largest coconut producer not only in Calabarzon but in the Philippines altogether. This doesn't come as a surprise as the province's economy is mostly driven by agriculture.
Sorsogon: Gateway to Southern Philippines
Situated in the Bicol Region, Sorsogon is one of the most stupendously popular tourist destinations in Luzon. It is home to Donsol where local and international tourists go to interact with friendly whale sharks, embark on an island hopping, and witness the wonders of nature. Its many scenic spots and an active business climate make the province a lucrative investment hub for various industries, including real estate. In 2018, the Bicol Region was hailed the fastest-growing region in terms of economic growth, of which Sorsogon City is a significant contributor.
Which Location is Better for Investment Properties?
To make up your mind whether Sorsogon or Quezon is the right property investment for you, let's make quick comparisons of the provinces in terms of key indicators such as affordability of properties, overall accessibility and convenience, as well as infrastructure developments.
Affordability of properties and living costs
Depending on the type of property, both the provinces of Sorsogon and Quezon offer relatively affordable properties that even minimum-wage earners can avail of if they opt for housing loans. The cost of living in both locations is also cheaper compared to living expenses in Metro Manila.
Overall accessibility and basic services
Sorsogon is known as the gateway of Luzon to the Visayas and Mindanao islands. The Matnog Port, for example, is one of the most active ports in the Philippines with vessels going to various provinces in Visayas and Mindanao. What is more, the Bicol International Airport in Albay is roughly just an hour away from Sorsogon, making it accessible for both local and foreign tourists. As for basic services, there are multiple tertiary schools in Sorsogon alongside healthcare facilities, shopping malls, and supermarkets.
Quezon province takes an edge when it comes to the total number of colleges and universities found in the province with 44 results over Sorsogon's 18 in the Find University website. Quezon also offers a wide variety of basic human services, such as clinics and hospitals, shopping malls, recreational facilities, and commercial establishments. This makes having an affordable house and lot in Quezon Province a worthwhile investment decision.
Infrastructure projects
Quezon Province stands to benefit more from completed, underway, and proposed infrastructure projects as part of South Luzon. The South Luzon Expressway Toll Road 4, for instance, is set to cut commute time from Calamba in Laguna to Lucena City. But Sorsogon will not be ostracized from the national government's ambitious infrastructure projects. The South Luzon Expressway Toll Road 5, meanwhile, is an extension from Lucena to the port of Matnog in Sorsogon. This will result in a significantly shorter trip time from the typical nine hours to just roughly five hours from Quezon to Sorsogon.
Factors to Consider for Choosing the Right Investment Property
To finalize your particular property investment choice, take these few factors into account to help you make a smart decision.
Check the location essentials
It's no secret that most of the appeal of a property besides the house design itself is where it's located. Ideally, your future investment property must be nestled near vital establishments to provide convenience to your potential tenants. Is it within reach from academic institutions, healthcare facilities, and supermarkets? If the answer is yes, then this particular option you have in mind is in the right direction.
Look for communal amenities
Available amenities give further boost to tenants looking for a residential property to dwell in for the long term. For example, many tenants would want a public gym where they could exercise over the weekend or during their free time to lead a healthy lifestyle. Other community facilities that you must watch out for include gazebos, a covered court, a multipurpose hall, playground for kids, and guarded entrances, among others. The existence of these amenities will increase the chances of attracting multiple serious tenants for a place of residence that they think is worth the property mortgage that they will pay for every month.
Search for answers in online platforms
It's a fast-paced world where the internet has become an integral part of daily living, so you might as well take advantage of it by searching for answers to your real estate questions online. You can even check feedback and reviews about the overall convenience of living in the area. If you're considering to own real estate from property developers, check the company's profile and verify if it's known to provide excellent customer service.
Hire a professional
When all else fails, consulting a real estate professional greatly helps to ease your anxieties as a first-time real estate investor. Just be sure to come prepared by having a list of questions you have with your agent or broker. This way, all your concerns will be addressed and you gain relevant industry knowledge that you can use moving forward.
Whether it's a rental property or primary residence in Sorsogon City or Quezon province, Lumina Homes can help you accomplish and realize your real estate goals for passive income and capital gain. At present, we have a housing community sheltered in Sorsogon City. Lumina Homes established more house and lot in Quezon Province, namely in the component city of Tayabas and first-class municipality of Sariaya.
Invest in quality, comfort, convenience, and accessibility. Get your house and lot Philippines very soon to enjoy the perks of homeownership and real estate investing in the location of your choice!
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