Philippine Real Estate Boom to Continue through 2008
By Lauren on Dec 26, 2007 in Real Estate News
Now would be a great time to invest your hard-earned money in a house or condo unit of your own. The Manila Times reports that the Philippine real estate industry picked up this year due to a growing market of young urban professionals and OFWs buying property in the country. Evidence of the real estate growth is shown by the growth in Ayala Land’s residential unit bookings, with their high-end and middle market revenues growing by 18% and 42%, respectively. By the end of the month, Megaworld Corporation expects to garner Php 19B worth of residential sales, 4 billion higher than their projection early this year.
Besides a growing middle class and the dollars coming in from overseas Filipino workers, other factors that turn speculators into home-buyers are low interest rate plans and flexible financing from banks and developers.
Investing in real estate is one of the best things you can do with your hard-earned money. The value of any property always appreciates and real estate also offers more leverage as opposed to other forms of investment. But besides that, owning your own house or condo is the best tangible reward you can get out of all those years of working and saving.
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