Forbes Park Remains Top Address for Philippines' Elite Despite Rising Prices

Forbes Park, a gated residential village in the Philippines, continues to be the most sought-after address for the country's elite and diplomatic community. The exclusive enclave, established in the late 1940s, is home to cosmopolitan expatriate families, consulate embassy officials, and some of the Philippines' wealthiest individuals.

Despite misleading online listings and speculative pricing, the demand for properties in Forbes Park remains high due to the limited inventory of homes for sale. "Only about 30-40 credible properties are listed for sale at any given time," according to local real estate experts.

The scarcity is attributed to the original owners passing down their properties to their children and grandchildren, with two families owning nearly 20% of the stock and embassies owning another 20%.

Current listings in Forbes Park range from PHP 560,000 to PHP 640,000 per square meter, with prices varying based on the age and condition of the homes. However, concerns have been raised about speculative listings at inflated prices that may not reflect the true market value. Property valuation by reputable firms is recommended to determine the accurate market value of these properties.

Why this matters: The continued demand for properties in Forbes Park highlights the enduring appeal of exclusive, high-end residential communities among the Philippines' elite. The rising prices and limited inventory emphasize the need for accurate property valuations and transparency in real estate listings to ensure fair market practices.

Despite the challenges posed by misleading online listings and speculative pricing, Forbes Park remains the preferred address for the Philippines' elite and diplomatic community. The village's exclusivity, amenities, and prestigious reputation continue to drive demand, even as prices rise due to the limited supply of available properties.

Key Takeaways

• Forbes Park is an exclusive, gated residential village in the Philippines.
• Demand for properties in Forbes Park remains high due to limited inventory.
• Prices range from PHP 560,000 to PHP 640,000 per square meter.
• Concerns about speculative listings at inflated prices need for accurate valuations.
• Forbes Park's exclusivity and prestige continue to drive demand despite challenges.