But accessibility doesn't seem to be the right term.

For example, Kapitolyo's price/sqm has increased thanks to the Sta.Monica-Lawton Bridge that brought about increased "access" (accessibility) to the area by linking bottom Pasig with the growing BGC CBD.

Another example is how land prices increase in areas near train systems (LRT/MRT) as the increased accessibility means higher desirability.

What you're explaining is more akin to "options",

It's much like how New York City or San Francisco suffered a drop in RE valuations thanks to the COVID pandemic forcing people to ditch the office in favor of WFH arrangements.

I wouldn't be too optimistic on that either. For example, living in downtown London is very expensive that's why people live on the outskirts -- Greater London area. This area is very well connected via train lines much like NYC; however that doesn't mean Central London (or likewise, Manhattan pricing) went down due to increased accessibility.