The Philippines are showing “great potential” for property investment buyers as the country enjoys a tourism boom, international sellers say.
A collection of islands in South-East Asia, the country recorded a record 3.14 million visitors in 2008 and resort homes remain relatively cheap.
Experience International said the Philippines could also be a good bet for property investment thanks to excellent rental potential.
The company is selling homes at the under-construction Blue Coral Resort and Spa on Mactan Island in the province of Cebu, a popular tourist spot.
Steve Worboys, managing director of the firm, said: “As a relatively new emerging market, The Philippines’ popularity is set to continue growing for many years to come and that is why now is a great time to buy into the boom, especially while property prices are relatively low.”
Prices for homes at Blue Coral, set to be complete in 2010, start from £63,425 ($92,219) for a studio apartment, all the way up to £182,750 ($265,895) for a three-bedroomed villa.
Buyers looking for a property investment opportunity can also take advantage of the resort’s managed hotel approach, which the firm says offers high rental yields with a guaranteed net income of up to 20.9 per cent.
Homes could prove popular with South Koreans, who made up the highest number of visitors last year, but Russian tourists are also arriving in greater numbers, increasing 34 per cent between 2007 and 2008.
Tourists looking for holiday homes are drawn to white beaches, stunning diving opportunities and mangrove forests which feature on the Philippines, a collection of around 7,000 individual islands.
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I definitely agree with you, “The Philippines are showing “great potential” for property investment buyers as the country enjoys a tourism boom, international sellers say.” We are so proud to say that. Thanks for sharing. I enjoyed reading your post.
-filicity-
Despite of the recent worldwide recession, the Philippine’s real estate industry remains very strong and becoming more stronger compared to it’s neighboring countries in South East Asia.