How To Make The Best Property Investment in the Philippines
2021 Mar 12 | by Apple Barretto
How can you make the best property investment in the Philippines?
- Invest As Soon As Possible
- Evaluate The Different Types of Real Estate Properties
- Secure A Good Location
- Get Your Financing Approved
- Draw A Fine Line Between Your Wants and Needs
- Align Your Financial Goals
- Research On The Property Developer
The growth of the Philippine real estate market is positive, robust, and underpinned by stable macroeconomic fundamentals. The wide-scaling BPO industry, OFW remittances, and tourism capitals are just a few of the driving forces behind the ongoing real estate boom in the country. Despite the promising forecasts on property investment in the Philippines, some things may remain unclear to potential investors like you.
Here’s the ultimate guide to making the best investment in this rapidly thriving country. Figuring out the basics will help you get the most out of your investment. Continue reading to learn more about these.
Invest As Soon As Possible
Many people are keen to invest in properties but don’t know when is the best time to do so. It pays to know that you should invest as soon as possible.
Minding the current situation, the COVID-19 pandemic has truly been an economic shock for the Philippines. But, if you’re wondering if it is safe to start investing now, the answer is a staggering yes.
Over the years, the Philippine real estate market stays robust as it continuously soars driven by strong investment inflows and a bullish economy. The country has excellent assets like a hardworking educated workforce, strategic business location, and expanding infrastructures. The government’s ambitious “Build, Build, Build” program is accelerating the growth of superior quality properties as well.
With the thriving economy, political sway, infrastructure reforms, and low-interest rates, many recognized the benefits of direct foreign investments in the domestic market. All these factors trigger a positive ripple effect across real estate properties.
It comes as no surprise that real estate is still one of the best investment choices available, and now is the best time to do so. The good thing about investing now is that property values have high value that are bound to grow. You might be surprised at how much you gain from it in the long run. The longer you wait, the less financial gain you have.
Evaluate The Different Types of Real Estate Properties
While it can be exciting to just invest in any property, it’s vital to know about which type maximizes your investment.
When it comes to the property types in the Philippines, there are mainly four categories to choose from: residential, commercial, industrial, and land.
Residential properties refer to any type of newly constructed and resale homes. It includes single-family homes, condominiums, townhouses, and vacation homes. Commercial properties include malls, hotels, offices, and restaurants. Manufacturing buildings and warehouses are under industrial properties. These are used for research, storage, production, and distribution of goods. Lastly, land real estate includes vacant land, ranches, and farms.
Among all these property types, however, residential properties are the ones that have seen a steady increase in demand. The rise in the number of families who want to reap the perks of living in townhouses and single-detached homes from premium subdivision developers in the Philippines like Pueblo de Oro. As strong driving forces for investments, factors like location convenience, presence of premium amenities, and high investment value are just some of the benefits.
For investors, this increased residential demand within and outside of Metro Manila provides numerous reasons to invest. You should take advantage of this trend. Add in the potential of earning passive income from rentals and it becomes a lucrative business opportunity.
Secure A Good Location
The Philippines is a sprawling archipelago in Southeast Asia with more than 7,600 islands. To make the best property investment in this country, one of the best tips is to secure a good location.
Check thriving cities that build equity easily. It would be best to keep tabs on central business districts and as there will always be a living demand for residential spaces here. Rental prices also soar when economic hubs begin to skyrocket in growth.
The Philippine’s natural tourist spots are also boosting the demand for accommodations from expats and retirees choosing to live, work, do business, or just enjoy the country’s weather.
All these are highly informative factors in making the best property investment in the Philippines. Aside from Metro Manila, consider investing in cities like Cebu, Batangas, Pampanga, and Cagayan de Oro. Alongside being popular tourism destinations, these cities have growing economies.
Get Your Financing Pre-Approved
While you might want to immediately own a luxury condominium or a premium housing property, ask yourself first: are your finances up for it?
Securing a property mortgage can be an extremely tedious process. You will have to prepare all the necessary documents, compare interest rates, and check the best loan terms. The road to approval means solving obstacles such as poor credit or outstanding debts. If you’re able to get pre-approved, it means you are financially ready to make the best investment.
Draw A Fine Line Between Your Wants and Needs
Before you begin your search for the best property, you’ll want to take some time to identify your wants and needs. For instance, having a spacious bedroom is undoubtedly a need, but do you really need a six-car garage?
A good way to go about this is by listing down what other people will want in a residence. Think about when you rent out the property and how it might affect its market value.
Align Your Financial Goals
People invest in properties to earn from them. Decide early on how exactly you can earn from your investment. This is also an excellent way to know what property you can invest in.
Will you be generating a steady passive income from rental payments, or will you bring in profits from a single big-time sale instead? The answer can help align your financial goals for the future.
Research On The Property Developer
As stated earlier, the real estate market in the Philippines is booming. That also means more developers are trying to attract discerning clients looking for the perfect opportunity to grow their investment portfolio.
Research on the property developer you choose to invest in. In the future, it can be disappointing to find out that the investment you made is actually nowhere near worth the amount you paid. Check if the developer has a good track record of finished projects and satisfied residents.
Not everyone has an idea when it comes to property investment in the Philippines. This guide provides helpful insights to ensure you get the best value for your investment.
If you want to invest in a top-notch property, Pueblo de Oro is more than ready to cater to your needs with different properties located in Batangas, Pampanga, Cebu, and Cagayan de Oro. Click here to check the projects today and make your investment worthwhile.