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Raffles Residences – The New Property Thriller In Manila
January 26, 2009Article by Ray Withers
Manila 26 January 2009 – A new thriller in Manila has just come to the market from investors looking for prime Philippines property. The Raffles Residences Makati is the address to have in the thriving capital of the Philippines – and with an upmarket location come shimmering views of Manila’s glimmering cityscape and Manila Bay. Raffles Residences Makati sits on 20 floors atop the 30-suite Raffles Hotel and the 236-Residences development will be the first significant luxury branded apartments in Makati. The new project launched by international property investment specialists Property Frontiers offers one to three bed roomed apartments, priced from £188,000 to £537,000 and a limited number of four bed roomed penthouse suites. Until now, the lack of mortgages has meant that even though Philippines property has great appeal, most investors have steered clear in favour of neighbouring markets offering finance. This all changes with the Raffles Residences as Property Frontiers can confirm HSBC has confirmed that finance is available to foreign investors of 80% loan-to-value. Raffles Residences offers all the round-the-clock facilities expected from a five star hotel, including a top class pool, gym and dining.
Makati City is a thriving affluent, cosmopolitan business centre in the heart of Manila. with a strong international presence as the country’s centre for banks, embassies, and corporations. “History has shown that in tough economic times it is always the highest end property that remains unaffected and continues to prosper regardless of economic conditions.” said Property Frontiers sourcing manager Ben Jefferis. “Raffles Residences Makati offers a genuine opportunity to be one of the first investors to enter a genuine growth market before mortgage availability becomes mainstream and the crowds rush in. As is always the case those who act first before the rush inevitably see the best returns.”This development is widely accepted as being the leading investment opportunity within this rapidly advancing new Asian financial hub. Located on the prestigious Makati Avenue – referred to as the ‘Wall Street of The Philippines’ not only will this be the highest quality residential apartment block in the Philippines but the location also could not be better.
In difficult economic times the most prestigious property at the premium end of any market always performs best. The reasons are supply is always relatively low and more significantly, the ultimate target market, the local financial elite, do not feel the effects of the ‘credit crunch’ and will continue to demand the best the market can provide.
For more information contact Property Frontiers on +44 (0) 1865 202700.