Hello everyone, I m Mary Jane Bangga-St. John a licensed real estate broker located here in Pasig City, Ortigas Center; Metro-Manila Philippines.
Since 2003 the real estate market in the Philippines and in particular Manila, has grown exponentially, and continues to do so. Where many countries like the United States have experienced a collapse in the real estate market, the Philippines has seen steady growth.
Since early 2000 the peso has regained more strength, once at 56 to the US dollar, in 2003 and now at 34 to the US dollar in 2011 has helped steady and strengthen the Philippines economy, resulting in leaving people with more confidence in investing. As a result of the strengthened economy, more people are now willing to invest in Philippines real estate, as it is no longer an unknown quantity.
In 2010 more OFW (Overseas Filipino Workers) from the Philippines invested in Philippines real estate, buying condominiums in Manila as-well-as in Global City Fort Bonifacio, Makati, Eastwood, Rockwell and other well planned property areas in the Philippines.
Why Invest in Philippines Real Estate?
The Philippines is one of the largest English speaking countries in Asia, this makes the Philippines an ideal location for foreign companies like call centers and local Philippines businesses that provide outsourcing services. As the Philippines economy stabilized, investors starting moving their business to Manila, Makati, Ortigas Center, Fort Bonifacio, bringing more money into and providing more jobs to the Philippines and the Filipino people.
With Filipinos now able to acquire better jobs and make more money, they are also able to purchase condominiums and homes, increasing the need for more housing, and increasing the pricing of local real estate.
Tourist Invest in Boracay Real Estate?
Yes! In 2003 Boracay Island located in the western Visayas Region of the Philippines, and the hottest tourist destination offered travelers about 100 hotels and maybe 75 or so restaurants. As of 2011 Boracay Island sees over 700,000 tourists each year now, and with over 350 hotels and resorts, 200 plus restaurants and so much more has made Boracay real estate the most sought after real estate in the Philippines for investment.
If you would like more information on real estate investments in the Philippines, please feel free to contact me at any time, I am here to help.
Mary Jane Bangga-St. John
Licensed Philippines Real Estate Broker (Lic. No. SB-NCR-00176-10)