Now is an excellent time to invest in different properties in the Philippines! If you haven’t paid attention to industry standards thus far, you’ll be shocked by the numbers. Investing in the Philippines has become the new playground for investors, and you can easily get in on the action, too.
Just take a look at the four reasons as to why you should invest in the Philippines today.
Rapidly Growing Economy
The GDP, or Gross Domestic Product, of the Philippines rose by 7.8% in 2013, with expectations for it to continue to grow for the remainder of the year. It’s only been going up since! Investing in real estate in the Philippines is an excellent choice for any real estate investor out there. Due to this high growth in the GDP, there will be many more businesses and employees of businesses flocking to the cities. This means more potential renters!
Property Prices are Low
The property prices in the Philippines are still among the lowest in Asia! They’re up to 80% lower than Singapore for a prime property, which means you get more for your money when you purchase a property in the Philippines. It’s also an excellent option for people who are just looking into the investment property market and are not sure where to start. There are plenty of beautiful properties in the Philippines just waiting for an owner!
Rental Yields are High
It’s pretty obvious that if investment properties in the Philippines are relatively low-cost but the rental prices are higher, that means the investors are making a decent amount of money. People are willing to pay higher rent amounts in the cities where they work so they don’t have such a long commute, and because they want to be closer to entertainment and other amenities.
Investors can really cash in on the skyrocketing number of people who want to move to the Philippines.
Strong Growth of BPO and ITO
Business Process Outsourcing and Information Technology Outsourcing are both industries in the Philippines that are increasing the income of the locals and the number of foreigners who are moving into the area. This means there is a demand for more apartment rentals! It’s an excellent opportunity for any beginner investor to get into.
Types of Properties
There are many different types of real estate an investor can get into. Residential types of properties include three main types. There are the condominiums that usually attract singles and young couples who are looking to start out. Then there are the town homes that couples who are planning on starting a family will want to rent. There are also the single family homes that many established couples like to rent, because there are small yards where their children can play.
All the different types of properties available to invest in are well worth the funds. All three types of properties are highly sought after in the Philippines.