Manila Property Report September 2011
Why Manila in the Philippines has emerged as one of the most attractive property investment destinations in the world today.
With the western world in financial difficulty, the USA still trying to recover after the credit crisis back in 2007, and the current problems in the Eurozone partly because of Greece’s debt, and with the recent FTSE100 falling so dramatically in September 2011, many western investors are now looking further afield for investment opportunities.
As you might be aware, over the past few years, the property investment market in Asia has been very strong especially in compasison to the west the Asian property investment markets in Asia are becoming increasingly popular with many international investors.
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The Summary
The research shows that the Philippines has many economic growth indicators that are also helped along by government incentives to encourage Multinational companies to set up operations and in a lot of cases headquarters in the Philippines and especially in Manila as a base to expand into the attractive ASEAN markets. This is driving demand for office space in the main business districts like Metro Manila and Makati.
The Business Process Outsourcing industry is responsible for much of the office space demand in Manila where the Multinationals are capitalising on the lower cost of wages and highly skilled workforce. These employment opportunities are creating an increasingly affluent population especially in Metro Manila, Makati & Rockwell.
These affluent residents of course require good accommodation near the workplaces and as a lot of people may be on contract work for shorter periods of time or have family homes elsewhere a large number will prefer to rent accommodation at first and then purchase an apartment once they are settled.
The strong rental demand and limited supply is driving up both rental yields and capital growth for apartments and condos in Makati.
This is attracting many investors from around the world to consider Manila property investments. Filipino property developers like Century Properties Ltd who are the largest private real estate developer in the Philippines have identified this trend and are capitalising on it by forming strategic relationships and partnerships with a growing number of overseas property companies.
For example they have successfully launched the Milano Residences a development with interiors designed by Versace Home.
They have recently announced the collaboration with American celebrity and heir to the Hilton Hotel fortune Paris Hilton who will help design the concept for the Azure Beach Clubhouse, part of Century Properties planned urban resort Azure in Parañaque City, Manila.
And just this month (September 2011) Century Properties also announced the launch of Trump Tower Manila, a collaboration with the world famous property developer Donald Trump in which the Trump brand has been licensed to Century.
These residential property developments all help to expose the Manila property investment market to the international investor audience, and evoke interest.
With all this activity we can assume that today Manila property investment is a hot topic; both for commercial office space and residential property which as in high demand and with no signs of slowing down.
The growing economy, influx of Multinationals, high demand for both commercial and residential property with demonstration of good capital growth and rental yields in Manila, combined with the international media exposure all indicate that now is a prime time to invest in the Philippines property market and especially property in Manila.
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Filed Under: Manila • news • Philippines Property • property investment
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