Posted by lukefitzy | Posted in Philippines Property, news, property investment | Posted on 01-03-2010
While the Philippines is a country made up of over 7000 Islands, the major city locations like Manila, Quezon City have an ever increasing and educated work force especially in the I.T industry and because of this fact a growing number of companies are setting up office and outsourcing work to the Philippines.
These areas as well as some of the popular island locations like Cebu and Boracay for example also bring in tourists of all kinds from around the world.
Investors who are looking to make money from both commercial, residential and touristic property demand have now identified the Philippines as a very attractive option.
As a result of this fact among other factors like increased inward investment the property market in the Philippines is predicted to grow by 10% this year.
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 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%.
It is the touristic property investment opportunities that are attractive to many overseas property investors that are not only looking to make capital gains but also some enjoyment from the properties they are investing in. For example the Continent Fairways development on the tropical Boracay island which is proving to be very attractive as the investment offers a high guaranteed rental income provided by the management company of around 20% as well as excellent personal usage, owners can use the property as often as they like but the amount will of course effect the percentage of guaranteed rental income they receive.
This simply takes all of the work out of the investment process for the initial investor. Investors own the property while the management company runs the resort. The investors benefit from a high guaranteed rental income as well as usage and the expected capital growth.
