Why Foreigners Invest in Philippine Real Estate
By Mechelle Gonzales
The Philippines is an ideal place to invest in that’s why foreign investors are snapping up residential properties right and left. Despite the economic downfall of several financial markets around the world, there are many reasons why foreign investors persistently purchase various properties in the country. Here are some:
Low Rental Rates
The Philippine real estate is the lowest among Asian countries in terms of rental rates. Investing in Philippine properties is a common option for foreigners because, most of the time, they prefer to sign a long-term or short-term lease. Also, more and more local companies have been purchasing properties for their employees and clients, especially those from abroad, to rent locally.
Foreigners are not allowed to buy a land; they may own a house, a condominium, or a building but not the land where the structure is built on. Compared to other Asian countries, the prices of real estate in the Philippines are relatively lower. This makes investing in the Philippines more attractive because the properties’ values are expected to appreciate in the next few years.
The hospitable culture of the Philippines attracts foreigners, especially those who are looking for a place to retire. The Filipinos’ friendly and positive attitude inspires a lot of foreign visitors, which for them is truly exceptional. In fact, the Philippine government has created laws that protect, serve, and accommodate foreigners and foreign investors in the best possible way.
Fascinating History, Sceneries
Gorgeous beaches, fascinating history and sceneries: The Philippines is nothing short but a paradise. For retirees who want to live life peacefully where the food is good, where people want to relax and recharge, the pace of life in the provinces is perfect. You can always come back to nation’s capital, Manila, if you miss the eclectic city life.