Philippines Property investment remains Prosperous
Overseas Property News - Philippines
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Investment opportunities in Philippines real estate remain high.
Specifically, the country is benefiting from increasing tourist arrivals, the business process outsourcing boom, and the positive effect of overseas Filipino worker dollar remittances into the country.
Over 11 million Filipinos work abroad bringing a remittance of $16 billion a year. Around 30 percent of this pours into real estate.
Most importantly, around 80 percent of Filipinos buy on full equity with only 20 percent relying on bank lending. In the era when cash is king, when major financial institutions are crumbling, and property markets suffer from sub-prime debt; this is important.
The Philippines is in fact one of the hottest places to invest in Asia, and has recently been tagged by Goldman Sachs as part of the N11 – the Next 11 countries with the highest economic potential in the world.
And tourist arrivals in Boracay remain so strong that when Philippine President, Gloria Macapagal-Arryo, arrived unannounced last week, there was no room at the inn. Her aids had to hop from one resort to another until they eventually found a resort that wasn’t being rented or used.
The island, which is cited as having some of the world’s best beaches, continues to draw more and more tourists each year.
In 2007, over 596,000 tourists visited the island as tourism earnings ballooned to P10.969 billion. DSR, the overseas property specialists, have invested in the Crown Regency Resort on Boracay to cater for this ongoing demand.
The resort is fully equipped, a 3 minute walk from the beach at Crown Regency, and 5 minutes from Bolabog beach. Prices start from £51,000 and there is a guaranteed rental yield although yields are expected to be upwards of 12% a year. Capital appreciation is expected to hover around the 25% mark over the next 3-5 years.
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