Is growing economy the reason behind booming Real Estate in Legazpi City?

The economic and financial climate of Legazpi is quite vibrant. It is considered to be a significant and prominent economic hub in the Bicol Region of the Philippines. The most common and widely carries out economic activities in the city include wholesale, real estate investment, manufacturing, agriculture and mining. The agricultural produce that brings the most income include root crops, rice and coconut. It exports these products along with abaca, perlite and many other products. The city attracts tourists especially those who like adventures. Thus, the tourism industry is also booming in the season. A big reason behind the economic and financial success in Legazpi City is that there is honesty and integrity. Corruption is virtually nonexistent. Legazpi City came first in the ranking of cities (that are located in the Bicol Region) that have the most efficient, effective, and transparent tax collection mechanisms.

Most business establishments are located in the central business district of the city. Landco Business Park was inaugurated in 2001 to further promote business and entrepreneurial Aulture in the city. Some businesses have failed in the city and have faced losses and failures. On the other hand, some businesses have thrived in the region. These industries include aggregate construction quarrying, fabric (abaca) production, coconut oil production and the manufacturing of organic fertilizer. There is no doubt that the current age is the age of technology. Technology is revolutionizing the way we live our lives and it is impacting all sorts of businesses in various ways. Moreover, it is also evolving and developing at a very rapid pace. The government has realized the importance of technology in business and is therefore promoting and supporting the foundation of IT (Information Technology Parks).

A large amount of money is involved in the housing and real estate business in Legazpi. There are over a hundred housing sites and residential subdivisions in Legazpi. Many local and international real estate developers have heavily invested in Legazpi.  Moreover, a large influx of money in Legazpi comes from shopping centers. The LCC Mall is one of the major malls of the city.