The rapid economic development throughout the Philippines hasn’t gone unnoticed by investors. Many of whom, according to a recent publication in “Urban Land Institute” are showing a strong interest in high-end properties in the Philippines. The real estate market in the capital Manila has been classified as the fourth most desirable city for real estate investments in new constructions with profitable prospects.
This is merit to an extraordinary 360° development that is gradually changing the face of Manila. So much so that multinationals have chosen the city as their general headquarters. The expansion of the capital works in its favor. Furthermore, the city is demographically very young and the political situation is constantly more reasonable and transparent.
At present the Philippines has a certain charm that is desirable to investors, with foreseen profits to be had. In fact, demand has surpassed what is on offer. Subsequently prices are slowly increasing, not only in Manila, but in all of the Philippines. The price of a three bedroom high-end luxury apartment in Makati has increased by 12.92% in comparison to 2013. As has the price for detached houses, with an increase of 6.92 %.
Bonifacio Global city, located 11 kilometers from the center of the capital is also expanding. The increase in this case is of 12.4% regarding luxury apartments and 10.6% for high-end residential houses. This last case certifies the unmistakable fact that investors are not only interested in the traditional real estate market, but also in the luxury market, which is still a rather niche sector in the Philippines.
