Research conducted by the real estate consultancy firm Pinnacle Inc in August 2019 reveals that the Philippines real estate market seems set to soar, buoyed by unprecedented growth and stability.
The demand for housing driven by both expats and Filipinos and for offices by BPOs and POGOs, an enormous residential-housing backlog, the recent tourism boom that creates a need for hotel accommodation for both local and foreign travelers and the increasing retail spend coupled with an urgent requirement for industrial property by home-grown and international corporations are the main features of the boom.
In this climate, it’s the right time to find the best cities to invest in the Philippines according to property expert FazWaz.
1. Cebu City
Whether you’re planning to retire, set up a business or move here to work and play, Cebu is a great choice. Dubbed the “Queen City of the South” this island-city is one of the most prosperous in the Philippines. The #2 metropolitan location in the country, Cebu has a booming IT and BPO-industry profile, along with a massive concentration of high-end condos.
Real estate prices are steadily climbing with the demand for more office, retail and residential spaces from expats, local Filipinos, and new-generation start-ups, attracted by the fabulous blend of natural attractions, great cuisine, rich culture, and world-class business facilities.
2. Davao City
Considered to be one of the most livable, safest cities in the world, Davao is strategically located, well-connected by sea, air, and land. Emerging as an important business/education hub and regional nerve-center in the Southern Philippines, it’s the largest city in terms of land and a popular stopover for tourists bound for other provinces.
Some of the biggest international names in business are headquartered here, while investments in condos are the hottest deals going right now. Great infrastructure, luxury condos, centralized communication for emergency responses, upbeat business climate, a proactive local government, and well-maintained public utilities make it a dream destination.
3. Tagaytay City
Part of the Tourism Haven and Food Basket of Cavite, this city is a popular holiday destination located just south of Manila on Luzon Island. Refreshing climate, scenic tourist-spots dominated by an active volcano surrounded by the gorgeous Ta’al Lake, the unspoiled local culture and superb cuisine make Tagaytay a city that says “Come for the food, stay for the views!”
Its close connectivity to Metro Manila (which is just 60 km away) and exhilarating green lung-space makes it the ideal choice to live and work in. Tagaytay’s real-estate market is poised to boom in terms of residential and commercial spaces.
4. Baguio City
Perched at 5300 feet above sea level, Baguio was designated as the official Summer Capital of the Philippines in 1903. Its location in the Luzon tropical pine forest ecoregion makes it the perfect destination for retirees, orchid enthusiasts, outdoor and fitness activities, golf fanatics, riding, trekking, and walking aficionados and bikers.
Peaceful, clean and well-ordered, Baguio’s recent transformation as a commercial hub hasn’t changed its “olde world” charm. Home to the prestigious University of the Philippines and several world-class academic institutions, Baguio is also an economic and industrial hot-spot, boasting electronics, machinery, textile/apparel, and service industries, along with a robust and rising BPO industry.
5. Lipa City Batangas
Stunning mountain views at 1025 ft above sea-level, great golfing facilities, scenic beaches, cool climate, and charming local culture make Lipa a great place for those who love peace and serenity but also love active life.
Located conveniently close to nightlife hot-spots and business hubs in Manila, Lipa is also known as “Little Rome,” because of the 1948 apparition of the Virgin Mary at the Carmelite monastery here. It offers easy access to Batangas City and is the headquarters of the Philippines Air Force Education and Training Command. It is a major healthcare, religious and commercial hub in the Batangas region.
Whether you plan to retire, live, work, play or invest, the Philippines offers a great choice of destinations. Sprawled over 7000 gorgeous islands, this country has a young, English-speaking, friendly and cultured population.
Affordable living costs, attractive tourist destinations, choice of outdoor activities, purpose-built, tech-rich commercial spaces, booming residential real-estate, a robust, stable currency, a politically-mature outlook, and investment ready climate make it one of the hottest and most happening investment prospects in the world today.
It’s wise to partner with a reliable, experienced and professionally qualified real estate consultant like FazWaz if you plan to look for your dream property here.