Global investors who are planning to purchase real estate and property in the South East Asian market have pinpointed Manila as one of their preferred locations. The growth of the purchasing power of the middle and upper class, coupled with surging tourist arrivals and continuous economic growth are reasons why the Philippines has seen a lot of foreign and local investors dive into the property market.
“I think it’s because of the good relations between the Philippines and China. But it’s also because of a strong property market—ability to come here and buy property at reasonable price and get attractive yields. I think the fundamentals of the economy and real estate are rock solid,” Santos Knight Frank chairman and CEO Rick Santos explained during a press conference as per the dotproperty article.
Neighborhood in demand: Mandaluyong
Known as the “Tiger City of the Philippines”, Mandaluyong has grown mightily this decade. It is now home to several world-class shopping centers along with EDSA Central and Pioneer, two emerging business districts. This area is home to several BPO companies which has propelled demand for rental properties. The condominium rental yields at some projects is as high as ten percent.
In a report from dotproperty, no list about condominium rental yields would be complete without Manila where they sit between six and nine percent depending on the location, according to property experts. Among the most exciting locations aside from Mandaluyong are Pasay and Parañaque which are both home to large shopping malls, casinos and resorts. Overseas interest in Manila real estate is expected to increase in 2018.
