The real estate business in the Philippines has been consistently growing since studies taken in 2011, and the country has boomed in popularity in terms of both the locals and foreigners. This is in large part due to the fact that many real estate companies have developed projects in several key locations within the country. Even non-metropolitan areas have recently fallen under the scrutiny of willing investors seeking additional development projects. The demand for infrastructures has increased each year, and investors have poured in from all over the world.
In addition, foreign investments increased exponentially in recent years, as well as the number of expatriates buying Philippine properties. Since last year alone, property sales in the Philippines have doubled, and they are projected to gain more shares compared to the local market. Whether you just started investing in real estate or want to expand your current portfolio, the Philippines is an ideal location to get started.
Despite the downfall of several financial markets across the world, the real estate sector in the Philippines has remained steady. This was due to a host of reasons, and the number of investors is predicted to rise without pause for the next five years or more.
Business Process Outsourcing (BPO)
BPO and ITO (Information Technology Outsourcing) investments in the Philippines are two of the major aspects used to help foreign investors choose properties in which to invest. This naturally increases the number of expatriates flocking to the country, which in turn creates a greater need for residential facilities. This cycle is one of the reasons why so many investors are interested in the Philippines and why the local real estate sector is so profitable. No matter your reasons to invest in Philippines property, you chose the right location in which to do so.
Higher Rental Returns
Currently, rental rates in the Philippines are among the lowest in all of Asia. For this reason alone, it is common for foreigners to have their properties rented for either short-term or long-term leases. More and more companies have recently begun purchasing properties for their clients to rent, so that they could work locally. Clients from abroad are especially targeted. Companies also choose to purchase condominium units for their expatriates who are members of the board of directors.
Prices Relatively Low
For a fraction of the price of the same building in Western countries, you can buy or rent property in the Philippines. Compared to properties in the United States, the UK, and even in some of its bordering countries, prices in the Philippines are far lower. This in turn puts the Philippines in the spotlight with regard to potential property and business investments. In the years to come, investors stand to see far greater returns than they would elsewhere due to the reduced costs.
Often, foreigners buy several units of property during their pre-selling stage and then sell them once they are turned over to their clients abroad. Locals have used this strategy for years, but now the international market is following suit. No matter your reason to invest, you have the opportunity to make more than you ever could elsewhere. The real estate market is constantly fluctuating, but some countries are more promising than others. The Philippines is all but guaranteed to double your usual returns.
