Philippines property set to increase by 10% in 2010
The Philippines as you probably know is a fantastic country made up of over 7000 beautiful tropical Islands.
However it is the major populated locations like Manila, Quezon City, & Cebu which have a constantly increasing educated work force with excellent skill sets specifically in Information Technology and because of this fact growing numbers of companies are setting up offices and outsourcing IT work to the Philippines.
It is the major areas like Manila, Cebu, Mactan and some of the popular touristic island locations such as Boracay which are attracting a growing number of visitors from all over the world.
Investors who are looking to make money from Asia property be it commercial, residential and or the touristic property demand have now discovered that the Philippines presents a very attractive opportunity.
This among other factors stated in a recent press conference have suggested that the Philippines property market will increase by 10% during 2010.
Real Estate services firm CB Richard Ellis Philippines sees an uptake in the property market growing by at least 10 percent this year pushed by liquidity, election spending, bank lending and the enactment of the REIT (Real Estate Investment Trust) law.
In a press conference, CBRE Philippines chairman Rick M. Santos, said
‘The growth would be across the board but it would be led by office followed by residential and retail.’
It was also mentioned that although the growth is office and commercial premises led the tourism sector would also see the development of more hotels and resorts and the emergence of entertainment complexes.Source: IRMA ISIP – Property market to grow by at least 10%.
In our opinion it is the touristic property investment opportunities that are attractive to a large number of foreign property buyers that are seeking both financial gains and enjoyment from the properties they are investing in.
An example of this type of Philippines property investment is the Continent Fairways investment opportunity on the tropical Boracay island which has proven very attractive as the investment offers a good rental guarantee provided by the management company of around 20% as well as excellent personal usage. Owners at Continent Fairways can use their properties as often as they like but the amount of usage they take will of course effect the percentage of guaranteed rental income they receive.
Here is a quick presentation video highlighting the Continent Fairways investment opportunity.
An investment property like Continent Fairways is attractive as it takes out all of the hassle, work and cost involved in managing and renting the properties for the initial investor. The investors benefit from a high guaranteed rental income as well as usage and the high expected capital growth.
It is these types of investment opportunities in the Philippines and other touristic locations in Southeast Asia that we feel are most attractive and helping to drive the property markets and generate investment from overseas buyers.
Filed Under: Business News • Economic News • featured • Philippines • property investment • Property news • Top Developments • tourist property
