The Philippines has weathered the economic storm of 2008 and 2009 rather well. With the region's economic climate steadily rising in 2010, the Philippines real estate industry has experienced a boom, too. Right now, real-estate developers have been busy constructing houses and apartments. There has also been an improvement of high-rise condominiums and commercial properties. Developers know the value of location, so they would most likely build these houses and apartments in the vicinity of departmental stores and transportation areas. Houses in Manila could cost more than houses in the adjacent areas and increase in value over time if well-kept. However, these properties and apartments are not restricted to Metro Manila only, but are also in nearby areas like Bulacan, Rizal, and Cavite. A lot of houses are now in place instead of rice fields. The attraction of Manila is that it is one of the popular cosmopolitan places in Asia and there are places still needing to be developed. The real estate industry has set their eyes on OFWs and expatriates residing in the Philippines. The OFWs, using their remittances and savings, fuel this country's economic system and they make up the bulk of people purchasing houses in the city. A likely picture among OFWs; they would go back home and buy a new house for investment then lease to other people. The end result is extra profit for them and their own families. Real estate developers pride themselves with the level of quality of the houses in Manila. They follow tough construction regulations set in place by the government, and prospective buyers cantake advantage of loan opportunities from the government. Property developers have flexible payment terms and affordable prices for these houses. A lot of the great houses and apartments in Manila are in subdivisions. These types of areas have round-the-clock security guards for the protection of home owners. The cost of living in Manila is actually less expensive compared with other key Asian cities just like Tokyo and Hong Kong. In Manila, potential homeowners can get a house that costs a million pesos while renting apartments in Manila will cost you even less. Folks are commonly attracted to renting an apartment because it is less expensive than owning a house. It could be as low as 65,000 pesos per month or more. Renting can be more flexible than owning a house. Renters can also determine if they would want to rent a studio-type apartment, orchoose from one-, two-, or even three-bedroom apartments. Some even have the benefit of being fully-furnished and parking space for tenants who have their own cars. The Philippines real estate expansion has made buying a home cheaper and easier. People wanting to reside in the city can have their choice of houses or apartments in Manila. This year is a good year for real estate developers and also for home buyers. Many people are excited for the upcoming years to be much better for property improvement. Jeremiah Carter is a real-estate professional who knows a whole lot about Philippines real estate. For more information, and to find your residential or work place options, go to ManilaEstates.com right now.
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