Although the Philippines has a large number of coastal locations
and rural areas, the most weighty investment gains will be made in
a very small proportion of the country – namely around Manila and
the larger Metro Manila region and at the nearby coastal area
Batangas.
Metro Manila
The country's capital, Manila, is a city of high-rises and high
expectations. It is also home to a fascinating historic arena,
founded by Spanish settlers in the 16th century. Istramuros is one
of the oldest walled cities in the far east and a delight for
history hungry visitors. Aside from this are a large number of open
squares, parks and public gardens as well as the river which
bisects the city in two. On completion of the expansion of the
light railway system Manila will also benefit from efficient and
swift transport links.
Manila lies on Manila Bay and is part of a wider area called
Metro Manila situated on the island of Luzon. Metro Manila is
divided into 17 cities and municipalities, including former capital
Quezon City and bustling Makati. Unfurnished studios in a Manila
high rise are typically available from £28,000 whilst luxury fully
furnished, fully fitted and fully serviced residences start from
£36,900. With 1,660,714 people living within its bounds, Manila has
the highest population density of any major city in the world
including Paris and Shanghai.
Although a popular spot for visitors, foreigners do need to be
aware of crime levels especially considering that threats of
kidnapping and of religious tension are fairly high.
Palawan
An archipelago of 1700 islands gaining prominence as the
eco-tourism destination of the future. Located in the South China
Seas, this is a natural safe haven protected from extreme weather
in a region free of earthquakes and away from the typhoon belt. It
is home to 2000km of coastline, 2 world heritage sites and four
marine reserves. Within striking distance of local financial
centres Singapore, Hong Kong and Manila, and with an airport
upgrade due in 2008, direct international flights to the capital
Puerto Princesa will soon be available.
Batangas
Around two-hours' drive from central Manila is the popular
coastal area of Batangas. Offering attractive beaches, decent
diving, historic colonial architecture and increasing amounts of
tourist resorts, this region has been identified as one of the
Philippines' key growth areas. Batanga City has seen a programme of
development over the past ten years along with the local port,
which is one of the most important trading hubs in the country. A
hectare farm here costs from £30,600 whilst a four bed modern house
close to amenities will start from around £52,000. Land plots
within 525 metres of the beach with views of the South China Sea
are available from Php 6400-8000/sqm.
Cebu
An island in the middle of the main Philippine archipelago, Cebu
is arguably the country's most sought after destination attracting
divers, tourists and anyone doing business in busy Cebu City. In
line with its popularity especially among ex-pats, property here
isn't cheap especially in the more mountainous locations which are
often more sought after than the beachside locations. Properties
tend to be in gated communities though a proliferation of apartment
buildings being sold off-plan are beginning to arise. A 25sq m
condo is available from £30,900, a 2 bedroom house from Php 500,000
and a luxurious 5 bed house in Cebu City from Php 15,000,000.
Rental yields on some developments are expected to be in the region
of 8%.
Boracay
Boracay Island in the Western Visayan group is another popular
coastal destination although a particularly concentrated
development comprising a number of bars and restaurants has
reportedly begun to damage the famous 14 kilometre-long
powder-white sand beach and clean seas. Despite this, the area
continues to attract large numbers of visitors. Prices for an
apartment bordering the renowned Fairways and Bluewater Golf Course
on the world famous Borocay Island start from around £45,000 whilst
flats in the prestigious Pearl development can cost from
£70,000.
Investors and tourists alike are strongly discouraged from
visiting Mindanao because of ongoing terrorist activity, the most
recent of which was a bomb on 22nd November 2007. This is not a
safe or secure place to visit or invest in.
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