Situated in the eastern section of Metro Manila, sharing borders with Quezon City to the west, Pasig to the south, and San Mateo and Antipolo to the north and east, respectively. Marikina is considered the National Capital Region’s main gateway to the Province of Rizal. Also dubbed as the Shoe Capital of the Philippines, it is the country’s biggest manufacturer of shoes, producing some 70 percent of the footwear made in the country. As of the 2015 Census, the city has a population of 450,741.
Highly competitive, Marikina functions like a crossroad of sort. Many Metro Manila commuters who live in Rizal Province pass through the city by the thousands every day. It is also one of the most awarded cities in the Philippines, including citations from he National Competitive Council in 2003 and 2005. This former rural settlement under the jurisdiction of Rizal Province is primarily a residential and industrial area, but is now rapidly urbanizing. Despite having no centralized business district to speak of, Marikina is one of the wealthiest local government units in the Philippines.
Marikina is a highly sought-after location for aspiring Filipino homeowners. The city boasts topnotch services that can rival even more prosperous LGUs like Makati and Taguig. The city has 11 hospitals, its own 24-hour emergency services, a good number of quality colleges and universities, and plenty of shopping and commercial areas. Marikina’s 16 barangays are also home to gated communities, private villages, and subdivisions, all of which offer plenty of houses and townhouses for sale and for rent.
In recent years, however, Marikina has witnessed the proliferation of condo developments, the most notable of them is Marquinton Residences, which is a three-tower condo project by Federal Land. Listings on MyProperty.ph show that a two-bedroom, rent-to-own condo unit in Marquinton’s Cordova Tower can be had for Php20,000 per month. Another development from where one may find plenty of condo for rent in Marikina is Tropicana Garden City, also a project by Federal Land. A 25-sqm studio for rent in Tropicana’s Valderama Tower can be had for Php15,000 to Php16,000 per month.
While condos may not be as prevalent in Marikina as they are in, say, Makati, Taguig, or Quezon City, it is safe to say that the city is fast becoming a condo hotspot with all these condo projects in the development pipeline. We can also expect people to start considering Marikina as their home-buying destination soon, as the city’s transport infrastructure, spearheaded by the extension of LRT Line 2, is expected to improve considerably over the next few years.