How Heavy Traffic Affects the Real Estate Industry
A heavy downpour usually causes floods in several roads in Metro Manila, where thousands of commuters and motorists get stranded. According to Highway Patrol Group (HPG), there is no perfect plan on EDSA traffic; however, discipline, compliance to rules, and cooperation were asked from the citizens to alleviate the problem.
Heavy traffic results to problems. It affects the different industries in the Philippines. In the medical field, lives may be put to danger while students and professors in the education industry lose important time which they could devote to studying and completing academic requirements. From the loss of profit for businesses to disturbed personal lives, this nuisance causes anxiety and makes people upset. Metro Manila is significantly populated. Its streets are filled with both public and private vehicles that contribute to congestion. The effects caused by clogged streets and highways are obvious nowadays – people arrive at their homes late, there is a major increase in transportation costs, and loss of precious time. These consequences should open the eyes of the government to take drastic actions to solve the problem that causes our country to crumble.
Just like the other fields in the country, the real estate industry suffers from heavy traffic and poor transportation system in many ways. From buyers to sellers and developers to marketers, everyone is affected.
Property Valuation
The value of a property depreciates when it is located in flood-prone and traffic-congested areas. Good thing accessibility also greatly increases its value. The chances of it being sold also increase. If it can be easily accessed, its worth goes up no matter what.
Property Buyers
Buyers look for properties that offer nothing less than convenient. They look for homes located near their workplaces, transportation hubs, and commercial establishments where they could buy basic necessities. Conversely, developers could face a shortage in property buyers if their projects are located in places where people deem unpleasant.
Broker Transactions
Transportation plays a vital role in the lives of brokers. Their productivity decreases when they experience the hassle of commuting. The time that they could have just invested to their clients is wasted because of heavy traffic. Instead of closing deals, they sit inside the car producing nothing.
Yes, Metro Manila houses many real estate developments. And though it may seem unnecessary to purchase a home near traffic-congested areas, just imagine being free from the hassle of commuting elbow to elbow with other people. You can even avoid the expensive gas or commute fare. When you invest in a house that is accessible, you will be released from the trouble of traveling and you can save valuable time.
The convenience of having your own place in the middle of the jungle-like metro is unrivaled. Leave no room for difficulty. Always remember to be practical. Take advantage of the benefits the real estate industry offers. You can even find office spaces that are nearby transportation hubs to maximize ease or invest in pre-selling properties near commercial business districts to secure your future.
The heavy traffic trend and the series of flooding in Metro Manila only provide a platform for the real estate industry to showcase their projects that offer long-term benefits.
