Apartments for sale in Manila are a great investment opportunity for numerous people. Much of the Western world is continuing to suffer after the economic downturn and real estate values are still continuing to decline or showing low growth in numerous places. In spite of this, the opposite is true in Asia. In fact, much of Asia including the Philippines is continuing to have economic growth. According to the IMF (International Monetary Fund), the Philippines economy is expected to grow about 5 percent next year.
This growth is reflected in the country’s real estate trends. According to the Asian Journal, the Philippine’s real estate market is evolving hotter and hotter. This is notably true in the capital of Manila. The average price of apartments in this city has increased more than 3 percent while the rents have increased more than 10 percent. According to the same newspaper, the cost of an apartment in Manila is just ten percent of the cost of a similar apartment in Singapore. Those numbers alone present Manila a very alluring region to invest. This is true for both American and European investors as well as Filipino ex-pat investors.
According to Forbes and MSN, the Philippines is one of the prime destinations to invest in real estate at the moment. They claim that Manila offers landlords an average of an 8.98 Percent return on their investment. That figure makes it one of the top three destinations to invest in Asia.
Century Properties, one of the biggest private owned real estate developers in the Philippines with 25 years experience are one of the companies leading the trend.
Century have successfully launched the Milano Residences with designed interiors by Versace Home. They have also just announced a collaboration with American celebrity and heir to the Hilton Hotel fortune Paris Hilton who will help design the concept for another development, the Azure Beach Clubhouse, part of Century Properties planned urban resort Azure in Parañaque City, Manila.
In 2016, Centuty will finish their $150 million project in Manila, the new Trump Tower Manila which will be the tallest building in Manila at 820 feet. It will include about 220 residential apartments that are being sold at the moment and it will be the final planned residential tower in Century City, their flagship mixed use project.
According to Robbie Antonio, MD of Century Properties, this is a great time to invest in Manila. He has said, “There is never a more opportune time than today to launch Trump Tower Manila, which is perhaps the country’s most powerful symbol of progress and readingess to compete on the world stage.” Eric Trump, executive vice president, real estate development and mergers and acquisitions, at The Trump Organization, Trump Tower also shares Antonio’s thoughts about the promises offered by the region. He has said, “The Philippines offers incredible opportunity given the tremendous wealth in the region.”
Apartments in Manila are a excellent investment choice for the eager investor. Buying an apartment in Trump Tower Manila or one of Century Properties other developments is an exciting way to get involved in the thriving city and benefit from the growing ecomony and Manila property market in the Philippines.