Hailed by many residents in the different provinces surrounding it, it is regarded as the place to go to for a better chance at starting from scratch. This is in hope of rising up the ranks in order to attain a better life. Manila is also one of the places on the short list of a young soul who is just starting out in the real world. It’s one of the few cities in the country that has been classified as a global city, and one of the most populous, as well. In fact, it ranks as the city with the second highest number of inhabitants throughout Southeast Asia, a testament to the massive influx of new residents coming into the city, mainly for work.

Geography of Manila

Cut in half by the Pasig River, a polluted body of water that has for generations past served as the main water supply for homes and businesses, the city of Manila is divided neatly into two parts by the river, and the city is located on the river mouth, at the eastern shoreline of the Manila Bay. Most of the ground on which Manila is standing on are alluvial deposits, soil washed up from the waters of the Pasig River. There are also other cities and municipalities that border Manila, and some workers in the city aren’t residents there, instead they commute daily to and from other cities such as Quezon, which shows the close proximity of the city to other city limits.

City Demographics

With the small land area of less than forty square kilometers, and one million seven hundred thousand people residing in it, Manila is by far the city with the densest population in any major city throughout the entire world, with almost forty-five thousand people per square kilometer, quite a lot compared to any other city, and even Paris, France pales at the number of inhabitants with less than half of the population density of Manila at twenty thousand people per square km. The primary language used for daily interaction in Manila is Filipino, and as a secondary language English is used for business and as a method of instruction in the academic institutions throughout the city. Hokkien is also widely spoken by descendants of the Chinese community in Binondo, nicknamed the Chinatown of Manila.

Religion in Manila is also as densely packed as the inhabitants themselves, and Manila is the seat of Religion for the Roman Catholic Church, and the Archdiocese of Manila is the oldest in the country. Protestant churches are also widespread within the bounds of Manila but some are smaller communities that gravitate toward the suburban areas in the city limits. A lot of different Christian sects are represented in the city, and there are also Islam and Taoist communities in the city, among other minority religions.

Manila’s Economic Background

Commerce and trade is the main backbone of the economy of Manila, and there are lots of businesses present in Manila’s street, ranging from small vendors operating in their neighborhood going all the way up to big conglomerates having their operations and headquarters based in the city. Public Markets abound in Manila, with every district except the Port Area having its own public market to serve the needs of the residents. Of course, being a global city, one can’t discount Manila as being fully-developed in the mall and large store chains arena. Plenty of shopping malls and department stores operate in Manila, and with the high number of residents they do a booming business in retail trading. Harrison Plaza, located in the Malate district has the distinction of being one of the oldest malls still in operation in Manila.

Manufacturing was also a dominant industry in the city before commerce took over the city as the dominant industry. Tondo used to have some of the biggest operations in the country with its close location to Manila’s North and South Harbors. Manila Gas, along with other companies, has scaled down or totally closed up shop due to the increasing risks with residential homes encroaching on their manufacturing facilities.

Real Estate Investments in Manila

Manila, being a global city, commands higher prices in terms of real estate listings compared to other cities and provinces throughout the Philippines. But even though this is a drawback in some ways, the advantage is that there is still a high level of demand with many prospective buyers willing to pay the price premium to own a property in Manila, whether it’s for residential, commercial, or industrial use. One of the newer trends has been that for condominium units in Manila, with high-rise buildings serving the need for people to stay within the city in close proximity to their workplaces, as there is a high congestion level in the city streets. There is certainly no shortage of people looking for a place to buy or rent a place within Manila, and renting here is one of the most lucrative forms of business in the real estate industry.

The high occupancy rate of housing and condominium units in Manila certainly makes buying and renting out properties here an attractive proposition, and one emerging form of housing that is gaining ground in the city is the luxury condominium segment, aimed at the executive who needs a place in Manila and is willing to pay for increased amenities and perhaps two or more parking spaces, which, in global cities, is certainly going to cost a lot. The average price of a condominium unit within Manila, starting off from the normal standard of accommodations, would start off in price at about one million pesos for a studio-type unit, and all the way up to ten million for units with three bedrooms and able to cope with the rigors of having a family in Manila. Rental rates in Manila would depend on the close proximity of your unit to places that raise demand, such as colleges where students want to stay as close as possible to their schools. Strategy is also an important consideration when contemplating purchasing properties in Manila.