Reverse migration boosts Davao residential market
Damosa Land Inc. takes the lead in driving developers back to the south as the demand for residential properties in the Davao region rapidly increases.
Ricardo Floirendo Lagdameo, VP for Damosa Land, says, “What we’ve seen over the last couple of years is that there’s been kind of a reverse migration back into the provinces, at least that’s what we’ve personally seen in Davao.”
Investors and settlers alike have been refocusing their attention back to the provinces, particularly in Davao, where the market is fast-rising and becoming more diversified.
“I think it’s really a question of opening up the country in all aspects. There’s really a lot of concentration in the NCR, where if it was spread out it would open up the whole country and it would provide opportunities for those people living in provincial locations,” says Jones Lang Lasalle Philippines country manager, Lindsay Orr.