Philippines booming real estate industry

Discussion in 'Property in Asia' started by Justine C, Sep 2, 2014.

  1. Justine C

    Justine C New Member

    MANILA, Philippines -- Manila has emerged as one of the top real estate investment markets in Asia for 2014, according to a new survey by the Urban Land Institute and PwC.

    In ULI and PwC's "Emerging Trends in Real Estate Asia Pacific" report, Manila ranked fourth out of 23 Asian cities in terms of city investment prospects.
     
  2. free2rhyme

    free2rhyme New Member

    I've visited the Philippines before and I really enjoyed my stay I just wish that my stay was longer so that I can explore the country more. Now, I'm planning to go back but not for travel/vacation, I wanted to go there and invest in a business. I'm looking for a place to stay a condo or or apartment maybe? Can you recommend me good and not so expensive ones? Thanks!
     
  3. LankaRE

    LankaRE New Member

    Quickly checked it out to see if Colombo is listed there somewhere. Sad to see its not listed there. After the civil war has ended lots of hotel chains have arrived and price for office space is also increasing.
     
  4. ooliveros

    ooliveros New Member

    Check out thousands of properties for sale or rent in the Philippines at our website (moderated)

    The Philippines is indeed a real estate hotspot in these times.
     
    Last edited by a moderator: Mar 23, 2015
  5. jyjyapolonio

    jyjyapolonio New Member

    Philippines is now getting competitive nowadays. They now have good real estate developer such as DMCI, AYALALAND, MEGAWORLD, etc. But I would recommend DMCI for you because of it's resort-style amenities. :)
     
  6. Marrielle

    Marrielle New Member

    "The Philippines is indeed a real estate hotspot in these times." Agreed in full.. :)
     
  7. Carmela

    Carmela New Member

    If planning to invest in Condominiums. Where is the best area that it will profit for sure in Philippines?
     
  8. The Philippines is really a hot spot for real estate investment. With its continuous growth in economy, it might be the strongest real estate market in south east asia anytime soon!


    (Moderated)
     
    Last edited by a moderator: Aug 14, 2015
  9. gaga7

    gaga7 New Member

    First of, the condo market in the Philippines is over-saturated!!! Resale is a big problem!!! The market is flooded with unsold condominiums. Just check OLX. Furthermore, marketers make it sound rosy when convincing you to buy but once you have committed and the ownership transferred building maintenance becomes a huge problem. Building issues also start raising their ugly heads. Many developers take short cuts and building codes are not followed due to corruption. Be warned about water leaks thru outside walls, pipe leaks, electrical problems, problematic transfer switches and cockroaches. Security and enforcement of policies also becomes a problem. Policies pertaining to noise, smoking, cooking odors, etc are not enforced.

    Another issue many potential buyers don't think about are association fees which can range from P2000 to P10000 per month.
     
    Last edited by a moderator: Dec 29, 2015
  10. gaga7

    gaga7 New Member

    Another issue in the Philippines is safety and security. Right at the airport you are already subjected to bullet planting scams perpetrated by airport personnel. This has created an environment of fear in the airport upon arrival and departure from the country. You risk getting arrested and detained. If this is the first thing you experience in the country, what impression does this give you fort he rest of your stay? Do you really want to invest in real estate in such an environment?
     
  11. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    @gaga7 why are you so negative about the Philippines? You have mentioned this airport incident(s) several times now... Were you involved or caught as a victim in this?
     
  12. gaga7

    gaga7 New Member

    Hi Nick. I believe people should be made aware of all factors they may face. If you disagree with what was said can you please share with us your opinion? Thanks.
     
  13. Veronica

    Veronica Administrator

    I don't believe that Nick was disagreeing with you. He was simply asking what you base your accusations on. After all, you are the one who is accusing the border guards of criminal activity and you have not supplied any evidence.
     
  14. gaga7

    gaga7 New Member

    I do not need to provide proof bc this matter is all over the news. Maybe not in Cyprus. But just google bullet planting scam. As far as the issues with the condominiums themselves I and many other have direct experience. Unit owners just do not talk about it bc they are afraid it will adversely affect their resale. There should always be full disclosure especially when transacting real estate contracts.

    The Philippines is a beautiful country. It is unfortunate that this is happening there. It does not appear that anything is being done to correct this bullet planting situation.
     
    Last edited: Dec 29, 2015
  15. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    @gaga7 i am aware of the bullet planting scam.

    This does not mean that the Philippines property market is not a good (or bad) place to invest. Of course corruption in any country should be considered in any investment location and certain countries carry a higher risk of this but it doesn't mean 100% you shouldn't invest there you just need to be extra specially careful with who you deal with and what you buy.

    You still haven't answered my question though, what is your angle and why are you posting about it in our community? We agree it is an issue for the country but hopefully it can be resolved and it won't effect the long term opportunities this country might offer for investment?
     
  16. gaga7

    gaga7 New Member

    Nick, absolutely no angle, malice nor hidden agenda other than what I already said. If you are looking for one, rather than asking me, maybe you should be asking the property promoters and brokers who have not said anything about the situations I stated. Especially the situation in the airport. What would you think if the same scam happens in Heathrow? What impression would visitors have of Brits and the UK if the first thing they are subjected upon visiting is this? If anything, I would like to see the authorities and/or business owners/developers/property owners use their influence to put a stop to this scam along with addressing building issues in their properties. I hope this answers your question. If not, I have nothing else to offer.
     
  17. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    This problem (having researched it) seems to potentially be a short term issue. Why would local estate agents or businesses try to put off all their customers for something that may blow over and be resolved within weeks or months?

    When there were terrorist attacks in London should people not have invested there ever again? When it was 911 should everyone have avoided investment in New York forever? If this same situation happened at Heathrow then I can guarantee you 100% it would not put people investing in London for the long term.

    As a professional property investor I look at areas which show good long term growth potential and the fact that there is a problem now is sometimes the biggest opportunity. Do the opposite of what the market does... buy when everyone else is scared to (i.e. just after a credit crunch when property is cheaper) and sell when the market is hot (i.e. everyone else is buying and prices are higher to lock in your profit).

    Based on no other market knowledge of the Philippines I might add... This could be just the opportunity to invest in the Philippines, at a low point when perhaps others are not investing. Why would an agent or developer not promote their sites? It could be the perfect time to invest for the long term right now.

    Hopefully you see my point and that there is always an equal and opposite way of looking at things and this is my view with a proven track record of investment behind me.

    The problem properties often ARE the opportunity for savvy investors...
     
  18. gaga7

    gaga7 New Member

    Nick. There is a big difference in those incidences. What happened in the UK can and has happened in other places. The airport scam of planting live bullets in travelers luggage however has been unique to the Philippines and has gone unchecked for a long time with full knowledge of authorities. From the news I read there has apparently been over 4000 of these cases. It was only exposed recently bc an American was victimized and refused to pay the fine (bribe). But even after the exposure, the scam still continues which has been terrifying visitors to the Philippines. More foreigners and locals have been victimized resulting in their arrest and detention. If this happened in Heathrow, I don't think Scotland Yard would tolerate it. I understand your desire of making things look rosy in your business. But these are things that cannot be ignored.
     
    Last edited: Dec 30, 2015
  19. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    It's not a desire to "make things look rosy" at all. As a property investor you have to carry out your own due diligence and I'm just saying just because there is a scam at the airport doesn't mean the whole country is a write off investment wise. It could even represent an opportunity for investment as some may be put off as I said above.

    I agree it is not good at all and all corruption of any sort should be irradiated in any way possible. I hope they manage to do that as you say it could be damaging for their country and especially their tourism market.

    I'm agreeing with you on most points just not on the point that it means property investment in the Philipinnes is an entirely bad idea as further due diligence would have to be done to determine this which I have not done personally.
     
  20. free2rhyme

    free2rhyme New Member

    Hi, Carmela! If you're gonna invest for a condo in Manila. I'd probably suggest that it is best if it's within Taguig or Makati area since these areas are well-developed.
     
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