The Future of Muntinlupa

In October 2019, I wrote about why I think residential prices in Muntinlupa will catch up with their counterparts in Makati and Pasig. I briefly mentioned that the catalyst would transfer the national penitentiary to another location. Is it finally happening?

On May 2, 2023, PhilStar wrote, "...as the (Bucor) agency prepares for the closure of the national penitentiary in 2028."

Between 2019 and 2023, what changed?

1. Ayala sold its stake in MCX (Muntinlupa-Cavite Expressway) to the Villar group.

2. According to the market, zonal values for Muntinlupa will be revised in September 2023 (unconfirmed).

3. Based on reports, the zonal values for Ayala Alabang Village will be set to Php100,000 to Php180,000/sqm (previously Php80,000 to Php150,000/sqm).

Take-Aways:

1. As I've said before, the transfer of Bilibid is not a question of "if" but "when." [See old post here: https://rem.ax/3OD6owL

2. For those looking to upgrade to a house but find prices in the Metro too expensive and Nuvali too far, I would look in Muntinlupa. Lots in some gated villages still go as low as Php25,000/sqm (e.g., Susana Heights, Brazilia, Lindenwood). The prices of these villages present substantial upside potential.

Sources:

Quo Vadis—Ayala Alabang Village Land Values - https://rem.ax/3OD6owL

Transfer of Bilibid - https://www.philstar.com/nation/2023/05/02/2263066/7500-bilibid-inmates-set-transfer