Philippines: ‘incredible’ for investment?

Real estate in the Philippines is experiencing massive growth, claims one company…

Liam Bailey, head of David Stanley Redfern, commented: “The Philippines is an incredible destination for a short-term property investment. Using other countries in the region as a guide, and considering the fact that the Philippines real estate growth is based on the same strengths, it is a safe bet that Philippines real estate will grow in value by 20-25% per year.

“Take Bangkok, where we can now see real estate being sold for twice what they were 3-4 years ago. And Phnom Penh, Cambodia is seeing strong 24%-25% growth year on year.

Mr Bailey added: “Philippines real estate growth is fuelled by massive growth in its business and industry sectors, primarily in Manila as major companies flock in to build cheap office towers, inhabited by a cheap work-force, working with manufacturing goods bought just as cheaply.

“This brings in retail chains in preparation for the increasing affluence of the population. The big corporations tend to relocate the top-level management, and the incoming executives are looking for quality rented accommodation, the same is true as the affluence of local people increases in their new jobs”.