Currently, the Philippines has an outstanding economic setting, recording a 6.9 % growth for the first quarter this year. It was even hailed as the second fastest-growing economy in Asia among 11 Asian countries during the period. Under the country’s present economic performance, investing in real estate turns into an attractive avenue for overseas buying of property in the Philippines.
There’s more to the Philippines’ economy that’s helping drive more overseas property investments. The country also boasts of solid GDP growth, stable currency, infrastructure growth, and low costs of living. Additionally, the demand of over 100 million Filipinos for real estate in Philippines is currently high.
Whether you’re an overseas property investor considering to start up a business or just looking to purchase a condo for sale in Philippines, location should be your main priority. This will not only be beneficial to your everyday living experience but also to the future value of your Philippines property investment as well.
Here are the best places where you can buy property in the Philippines:
Makati is known to be the unrivaled central business district of the Philippines. It is where 40% of the top 1,000 multinational companies in the Philippines are headquarted, which makes it the location of choice when it comes to property investments. Furthermore, Makati holds the highest average rental rate and land value for property in the Philippines.
Makati also offers a convenient and refreshing urban living experience. Being a home away from home, it sits right at the heart of numerous commercial centers, restaurants, workplaces and top-notch residential properties in the Philippines.
2. Bonifacio Global City (BGC), Taguig
Being an emerging financial hub in the country, BGC in Taguig can also be a profitable place for your overseas property investment. It is a city that is constantly developing, with several world-class infrastructures and upscale residential properties popping left and right.
The master-planned city also offers lower tax rates, clever city planning, round-the-clock security and efficient real estate policies. With so much potential BGC has to offer, property investors can make long-term investments since there’s a steady demand for residential properties in this progressing commercial district.
3. Quezon City
Quezon City is known to be the largest city in Metro Manila. This is a prime location for investment in property in the Philippines because of its wide range of potential customers. The dynamic city also appeals more to investors because it is relatively cheap compared to Makati and Taguig properties. Additionally, real estate developers launched several ambititious projects in this area, ensuring that the location’s momentum will be sustained over the next few next years.
The urban city is also home to commercial areas like shopping malls, landmarks and attractions, and entertainment destinations. Furthermore, Quezon City offers market availability, ease of doing business and workforce supply which makes it an ideal business location.
Pasay is one of the most commercialized cities in the Philippines. It is home to several upscale infrastructures, including Mall of Asia, one of the largest entertainment and leisure centres in the country. Investors can also take advantage of the numerous retail and cultural hubs that perfectly fits almost everybody’s lifestyle.
Furthermore, more overseas property investors are eyeing to invest here recently because of the Bay City. It will be Ayala Land’s 300-hectare reclamation project that will further develop Pasay as the next progressive business district in the country.
Want to purchase a property in the Philippines located in these top four cities? Check out Yazhou Property for your daily dose of news on Asia properties and overseas property investments.