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The Philippines Real Estate Marketplace: A Godsend to the Economic System

Real Estate Articles October 25, 2015

The Philippines has gotten through the economic downturn of 2008 and 2009 rather well. With the nation’s economic climate steadily on the rise in 2010, the Philippines real estate industry is growing, too. Right now, property developers have been busy building houses and apartments. There has also been an expansion of high-rise condominiums and commercial structures.

Developers know the value of location, so they would probably build these houses and apartments close to shopping malls and transport areas. Houses in Manila could cost more than houses in the surrounding areas and accumulate in value over time if well-maintained. However, these houses and apartments usually are 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 fields of rice.

The appeal of Manila is that it is one of the popular cosmopolitan cities in Asia and there are parts still needing to be developed. The real estate industry has set their eyes on OFWs and expatriates residing in the Philippines. The OFWs, making use of their remittances and savings, fuel this country’s economy and they also make up the bulk of people buying houses in the city. A likely scenario among OFWs; they would return home and buy a new house as a possible investment then lease it out to other people. The outcome would be extra revenue for them and their families.

Real estate developers pride themselves with the quality of the houses in Manila. They stick to rigid construction polices set in place by the government, and possible buyers cantake advantage of loan programs from the government. Property developers provide variable repayment terms and affordable prices for these homes. The majority of the great houses and apartments in Manila are typically in villages. These subdivisions have round-the-clock security for the safety of property owners.

The cost of living in Manila is comparatively less expensive when compared to other key Asian cities just like Tokyo and Hong Kong. In Manila, prospective homeowners can get a house which costs a million pesos while leasing apartments in Manila costs even less. People are typically drawn to renting an apartment since it is more inexpensive than owning a house. It might be as low as 65,000 pesos per month or more. 

Renting is also more flexible compared to owning a house. Renters can also choose 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 less expensive and easier. People wanting to reside in the city can have their selection of homes or apartments in Manila. The year 2010 continues to be a very good year for real estate developers and also for home buyers. Most people are looking forward for the approaching years to be much better for property improvement.

Mary Osawa is a property specialist who understands a great deal about Philippines real estate. For more information, and to find your household or office space options, check out ManilaEstates.com now.

Selecting a Home in the Philippines Real Estate Marketplace

Real Estate Articles October 24, 2015

A person has limitless choices when searching for residential properties in Philippines real estate listings. Metro Manila is an extremely large place packed with apartments, houses, and condominiums, surrounded with business and entertainment centers. Seeking out an apartment to live in can occasionally be confusing, especially when you’re not accustomed with the place. That is the reason why it’s necessary to consider your choices carefully prior to making that huge conclusion.

There are lots of factors that ought to be taken into consideration when looking for household properties in Manila. First, one has to think of his preferred location or area. This will greatly be based upon where you make your business or go to work. You are going to also need easy access to establishments such as hospitals, schools, and public transport terminals. You will want to seek out houses in Manila that are nearby such common establishments so you can evade potential inconveniences. It is best to also consider your livelihood pursuits. If your work or company is based on Quezon City, renting or getting an apartment in Makati is simply unreasonable and may be very troublesome as well. Just like in any other country, location is always the ultimate deciding variable when it comes to the world of Philippines real estate.

Only after deciding on a location should you decide whether to rent in Manila or purchase your own household property. It can be expensive to own a property that’s located in prime areas such as Makati and Ortigas. The high demand for houses in Manila found in these areas makes it nearly difficult to obtain one. This is mainly the factor why many young professionals and middle-class families believe that it is sensible to lease a house or apartment instead. Yet, you can find more affordable choices in the Philippines real estate market. High-rise condo units have become a feasible choice for many young employees and people in the middle-class. Obtaining a condominium is so much cheaper and property developers ensure it is a far more appealing choice for investors by offering quite flexible monthly payment terms.

Choosing to reside in the many different houses in Manila also has many pros as compared to condo or apartment living. The spatial freedom and comfort a real house provides may not be attained in smaller high-rise residential residences. A house, primarily one that is confined within a private village or subdivision, is often tremendously expensive to own or rent in Manila. Still, the numerous advantages of being in exclusive subdivisions such as Bel Air and Dasmarinas Village in Makati and Green Meadows and Valle Verde in Pasig are evident. These exclusive subdivisions feature world-class facilities, something which a number of other areas don’t have.

With so many choices in the Philippines real estate market, your final decision will most likely be influenced by two principal conditions: budget and location. Regardless if it’s a house in Manila or an apartment for lease on its outskirts, be certain that you’re making the proper choice based on your own individual preferences and demands.

Jeremiah Carter is an experienced analyst of the Philippines real estate industry. For extra tips and assistance, go to ManilaEstates.com.

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