Here are some reasons why you should invest in the Philippine real estate industry.
Consisting of 7,107 islands, surrounded by the terrain, the Philippines is home to many natural wonders and cultures. Attracting many local travelers and even foreign entrepreneurs and investors, tourism is one of the reasons that has escalated the growth of the Philippine real estate industry.
Strong economic growth
With the fast performance of its economy, the Philippines maintains its spot as the fastest growing economy in the Southeast Asian countries. According to CNN Philippines, real estate industry is one paraphernalia carrying the Philippines to a strong economy with a 7% growth this year 2016. Some keys that significantly contribute to the booming economy are the country’s strong domestic consumption, growing business process outsourcing sector and new found stability based on the study conducted by Oxford Business Group (OBG).
Properties at low rates
One characteristic in the Philippines that has caught the attention of investors is its affordable property rates both in rental and selling compared to other Asian countries. With the number of travelers and foreign investors coming into the Philippines and the popularity of renting market, high rental yields is an assurance that can make investments grow fast.
The Philippines is a growing country and expected to generate a strong demand for infrastructures to construct. With this initiative, the increasing number of developments will surge the percentage of global businesses and improve more the tourism industry. Real estate markets will benefit from this promulgation as the government is not only eyeing on building developments in metropolitan but also on provincial areas nationwide.
Why buy a condo over a house and lot? Read here.