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Philippines Real Estate Is Coming Out

The Philippine government is doing everything to boost the economic growth. Here are the reasons why properties are really on their way up:

1. Filipinos have a population of 9.5 million scattered all over the world; especially in the richest countries such as US, UK, Europe among others. Due to a higher exchange rate of the foreign currency against the Philippine peso, many can afford to buy properties.

2. If the ban will be lifted, foreigners will definitely invest in the Philippines. Other nationalities will take advantage of their currencies' higher purchasing power.

3. Currently, there is a $4 billion infrastructure investment. The government has now a mandate to build bridges to and from the capital, Manila. Many people from the provinces can now be able to travel with ease to look for a "greener pasteur". Of course they will need housing and accommodation to stay in.

4. Due to Filipinos ability to speak a very good English, many other nationalities are coming to study in the universities. Not only that Philippines have produced the finest professors and lecturers, but also the culture is really great. People are friendly and the education is quality. They have Ateneo De Manila University, De La Salle University, International Schools.

5. Gloria Macapagal Arroyo has also introduced this SRRV (Special Residents Retiree's Visa). This is a good way of enticing Filipinos and non-Filipinos to choose the Philippines as their retirement home. Old Age Pensioner will now enjoy a lot of benefits such as discounts on purchases, bus fare and many more. Not to mention that these old people will also enjoy a peaceful by hiring a maid for just $50 or £20 a month! In the US and UK, this amount is only a half-day salary or to others it is only an hours wages.

6. Because of the success to encourage foreign investors, the Philippines is now one of the two countries in the world which impressed top technology companies to based their call center in Makati, Ortigas and Manila. Some of these companies are Dell International, Touchan, Sykes Asia.

7. The Philippines population on the latest count is almost 87 million based on National Statistics Office (NSO). They predicted that Filipinos will hit 100 million mark in year 2010. What a great demand for housing would it be? In addition, there is a backlog on properties of all types which is 4.2 million!

8. The design of the houses and properties are also done by interior designers which took their concepts of design to the major cities in the world e.g California, London, Singapore. They are targetitng Overseas Filipino Workers (OFWs) and that is the reason why they have been doing from many years ago.

Many people abroad are very impulsive in looking for properties not to stay in but to make an investment on. They want to rent it out for a tidy profit and the huge potential for a higher market value.

Don Magsino MBA Ateneo De Manila University Professional School of Business

Published Tuesday, September 18, 2007 6:47 PM by EDWIN GUMBA, Real Estate Broker

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