Philippines Property Boosted by Rising Tourism
Overseas Property News - Philippines
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The Philippines Department of Tourism data shows tourist arrivals from January to April increased by 7.5 percent on the same four months last year.
Tourist arrivals in the Philippines already topped the 3 million mark in 2007, the highest in years, while tourism spending grew by almost 41 percent last year. Yet 2008 looks likely to be an even better year for the Philippines.
In April alone, arrivals were up 4.3 percent on last years figures, a 126% improvement over the 1.9% increase recorded in April 2007. Add to this the possible introduction of a common visa across South-East Asia -- a move expected to streamline tourism to the region -- and the future looks bright for the Philippines.
There is nowhere better placed to profit from this increase than the capital, Manila. Of the 11 cruise ships that arrived in the country throughout January to April; seven of them disembarked here.
It is in Manila; in the prosperous financial district of Makati where DSR's Lancaster the Atrium Towers can be found. Already the location of choice for serious global investors, Makati benefits from an ever increasing number of business users that flock to the area as multi-national corporations and established Filipino companies take hold.
Off plan prices per m2 in the Makati district grew by 40% in the last 24 months and units in Lancaster the Atrium can come fully furnished, fully managed and ready to rent. With business demand already promising rental yields of up to 12%, an upsurge in tourist arrivals merely presents another reason to invest.
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