Investing in Philippine real estate is becoming an increasingly attractive venture. Nowadays, business, residential, commercial, and retail sectors have many opportunities to meet the steadily rising demand.
The tourism sector has been severely affected by the pandemic outbreak; still, many factors contribute to the Philippine real estate market‘s continuing growth. These include the fast-growing business process outsourcing (BPO) and the tech industry generating jobs for many Filipinos. More cities and regions outside Metro Manila are attracting a growing population of working professionals. These include places like Cebu, Clark, Laguna, Angeles, and Davao.
Urban planning is another factor that can draw people in. An emphasis on convenience, environmental impact, and health within the community influence how attractive a property is to buyers.
The placement of key establishments and amenities near residential areas is a popular trend, too. Every small neighborhood has access to shops, hospitals, schools, parks, or community gardens.
These vibrant communities’ economic growth results in higher property prices for residential, commercial, or mixed-use projects while providing investors with better opportunities.
Is investing in Philippine real estate market a good idea?
The Philippines is a hotspot for opportunities in Southeast Asia, and foreign investors stand to gain from this. After the pandemic ends, there is an expected influx of tourists, tenants, and business owners in various parts of the country.
Local and foreign investors alike deem it an excellent time to start buying property. If you want to diversify your investment portfolio, start looking at investing in Philippine real estate today.
As a general rule in real estate investment, you have to conshttps://agentgrow.com/are-you-investing-in-property-here-are-questions-to-help/ider several things. The price, location, and potential for profit through value appreciation are potential factors.
The price, of course, depends on the location. The closer the property is to a city, the higher the price goes up. Choosing a location outside the city would mean a lower cost.
For foreigners wanting to enter the market, there is a lot more to consider.
Can foreigners own property in the Philippines?
In most cases, foreign nationals are, not allowed to own land in the Philippines. However, the government has given many options for investors.
Under the Investor’s Lease Act of the Philippines, foreigners can sign a long-term lease agreement of 50 years with a Filipino landowner, with the one-time option to renew for 25 more years.
The building itself is your own, and you may choose to rent it out. You can gain decent returns depending on how long the land is leased to you. It may just be enough to generate income from your property investment.
You may opt to purchase a condominium unit instead. The Philippine Condominium Act allows foreign nationals to do so. Under this law, you may own condo units as long as Filipinos own 60% of the units in the building. Similar to purchasing a house, foreigners cannot own the land underneath the building.
If you want to own land in the country, consider buying through a corporation. You can buy this way as long as 60% of the corporation’s owners are Filipino citizens. The largest piece of land allowed for foreign ownership is 1,000 square meters of urban land.
Real Estate Opportunities for Every Investor
Despite the many limitations on foreign investors, investing in the Philippines real estate market is a worthy undertaking.
The real estate industry is continuously evolving. Taking note of investment trends will help you choose the most profitable investments for you. Entering the Philippines’ real estate market can prove beneficial, as it’s showing no signs of slowing down anytime soon. Experts predict the country’s real estate industry will enjoy more years of stability.
There are numerous investment opportunities in this rapidly developing economy for those willing to take it. The question is, are you?
