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The Philippines has weathered the economic disaster of 2008 and 2009 quite well. With the nation's economic system gradually on the rise in 2010, the Philippines real estate industry is booming, too. Nowadays, property builders have been busy building houses and apartments. There has also been an expansion of high-rise condos and commercial properties. Developers are aware of the importance of location, so they would most likely construct these houses and apartments near shopping malls and transportation areas. Houses in Manila are more expensive than houses in the adjacent areas and accumulate in value over time if well-maintained. However, these houses and apartments are usually not limited to Metro Manila only, but are also in nearby areas like Bulacan, Rizal, and Cavite. A lot of houses are now in place rather than rice fields. The lure of Manila is that it is one of the popular cosmopolitan cities in Asia and there are areas still needing to be developed. The real estate business has targeted OFWs and expatriates living in the Philippines. The OFWs, with their remittances and savings, sustain this country's economic system and in addition they make up the bulk of people purchasing houses in the city. A likely scene among OFWs; they would go back home and buy a new house for investment then lease to other people. The outcome is extra revenue for them and their loved ones. Real estate developers pride themselves with the good quality of the houses in Manila. They comply with strict construction polices set in place by the government, and prospective buyers cantake advantage of loan packages from the government. Real estate builders have adaptable repayment terms and affordable prices for these houses. The vast majority of great houses and apartments in Manila are in subdivisions. These areas have 24-hour security for the protection of homeowners. The cost of living in Manila is relatively less expensive compared with other key Asian cities just like Tokyo and Hong Kong. In Manila, potential homeowners can find a house which costs a million pesos while renting apartments in Manila will cost you even less. People are generally interested in renting an apartment since it is less expensive than owning a house. It could be as low as 65,000 pesos per month or more. Renting is also more flexible compared to owning a house. Renters can also decide if they would want to rent a studio-type apartment, orchoose from one-, two-, or even three-bedroom apartments. Quite a few even have the advantage of being fully-furnished and parking space for tenants who have their own cars. The Philippines real estate development has made the purchase of a home cheaper and easier. People wanting to reside in the metropolis can have their choice of houses or apartments in Manila. The year 2010 is a good year for real estate developers and also for home buyers. Many people are excited for the coming years to be far better for property development. Jeremiah Carter is a property professional who understands a great deal about Philippines real estate. To find out more, and to get your own housing or work place options, visit ManilaEstates.com right now.
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