Jan 30, 2020

5 Mortgage and Real Estate Changes This 2020

The Philippines has become one of the choices for foreign markets in Southeast Asia. Having fortunate demographics and an increasing social class to purchase lands of their own, Metro Manila has sparked a great interest for businessmen to venture and invest upon. A house for sale in Metro Manila would be quite a good investment if you plan on entering real estate. Making sure there will be no losses in your capital or would be worth the return of investment.

Property Market growing from the previous years

Due to the economic robust, we have had since 2010, the Philippines’ residential property market continues to increase and perform very well up to this date. Makati CBD prices have risen by almost 132% from 2010 to 2018. Goes to show how the Philippines, amidst all economic issues, continues to grow markets while having a stable market. This means an investment in the properties around Metro Manila is very practical and would yield to more growth in the coming years. House and condominium prices continue to hike every year and would lead to more businessmen entering our country.
Residential Rates Continue To Rise

Since the Philippines is an open country, we allow different nationalities to freely enter our land and rent out their own spaces, or even buy their own lands. Rents are expected to remain almost steady amidst an increase in the supply numbers because of equilibrium in the market. There has been a slow rise in the rental rates as low as 1% despite the modest number of new units over the next courses. There has been a steady take-up of units in the secondary market

 “The stable take-up of units in the secondary market suggests that the market is driven by strong end-user demand and not by mere speculative demand,” said Colliers.

Provinces With Low Labor Cost

Manila is not only the most viable place for business sharks to be interested in. They’ve been keeping a keen eye on most cities in the provinces such as Cebu and Davao which are both central cities in Visayas and Mindanao. Cebu and Davao already have 4 million in population according to the Philippine Statistics Authority (2015), almost tantamount to the population count of Manila and Quezon City combined. This only means that most of the inhabitants would somehow need affordable housing which would later benefit the businessmen. Attributing their expenses with less labor cost because of the existing provincial rate for laborers and expert workers for cities far from the country’s capital.

Cities Outside Metro Manila

Centralized housing is now being offered and fabricated all around the provinces far from Metro Manila. Land developers have turned hectares of farmlands to row houses and subdivisions being offered at cheap prices and installment through government-mandated agencies such as Pag-ibig or in-house loans. For instance, Cavite now houses more than 3 million people according to PSA. Retirees from the Metro opts for houses around the area considering its location as peaceful and less polluted because it’s near the provincial area and is far from the traffic and rush Manila has to offer. The government also considered Cavite as a good place for informal settlers to dwell in, as they offer them housing schemes around the area which are all affordable but of great quality.

More Options For Real Estate

Licensed real estate would offer houses around the area marketing a good quality of life and free from the hassle and bustle while living in the busiest parts of the country. You will have plenty of choices to choose from when you’re looking for a place for you to stay. Be sure not to be shocked by the millions and millions of prices each property would cost since the real estate industry continues to boom every year. However, the investment is still worth the cost.

Build, Build, Build Program

The current admin helps our country grow economically by introducing the build, build, build a program; constituting of 75 flagship projects which include 6 airports, 9 railways, 3 bus transits, and 32 roads and bridges, among others. Several of these projects are already ongoing and are expected to start operation as soon as possible to serve the people. This program does not only help to boost our economy but will also attract more foreign investors to enter our market and boost the real estate property.  

Key Takeaway

With the abundance our country offers and with the help from our government as they discern what’s effective and what’s not that would affect our growth; our country still increases in economic growth in terms of the real estate industry. Despite the worldwide economic decline over the past years, the Philippines remains unfazed and standing, still offering the best market for locals and foreigners to invest in. A house for sale in Metro Manila will still be one of the greatest investments you can have amidst all.

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