Is Investing in Philippine Real Estate a Good Idea?
Whether you are a local with money to spare, a foreigner who wants to expand your portfolio of investments, or an OFW that is looking to invest their hard-earned money from abroad, you may have already heard that investing in Philippine real estate is what you should do. The question here is, should you? How can you determine whether or not the country is indeed a good place to invest it and that real estate in the Philippines is what you should put your money into?
If you were to check online for information on Philippine real estate, you will notice that every single one will tell you that this industry in the country is booming. These will also tell you that now is the time to invest before everyone gets on that bandwagon. Whether there are a lot of people thinking about buying into this opportunity or not, you should remember the words of Franklin D. Roosevelt – “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
This means that, no matter when you plan to buy, or where you are, the best investment is always in something that is solid, and cannot be carted away, and property is that one thing. The question you probably need to ask yourself when you are contemplating investing in real estate in the Philippines is, what kind of property should you go with, and where in the country should you buy?
If you ask around, you will find that a lot of people will convince you to buy property in places like Cebu or Manila, particularly because these are very populated, and have great prices in terms of rentals. Prices in these parts of the country however can be rather steep considering that these are already very urbanized areas. You will find that real estate opportunities here can be very expensive if you are looking for property within the city.
If your point in investing is to rent out your property so that it can basically pay for itself, then these two places are great choices. There are a few more that you can consider looking into as well, like Davao, Dumaguete, Bacolod, and Pampanga, to name a few. These are places that are seen to see a rise in residency as well as value because of the influx of foreign companies putting up BPO companies and factories there.
No matter what your purpose may be for buying property in the country, you can rest assured that your investment will be a sound one. This is because land values in the country are appreciating. Since the Philippines is one of the fastest growing economies in the region, and is projected to sustain such a rise due to the continued entry of call center companies, foreign investors, and international companies setting up shop here, your property is also projected go with this upward trend.