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Stretch Your Pounds To The Limit In The Philippines

January 30, 2009Article by Ray Withers

If you’re looking to move abroad but are worried about how far your pound will stretch, then take a look at Philippines property For less than £800 a month, a family can live a lottery winner’s lifestyle – and it’s sunny nearly every day. Rated the place with the second cheapest cost of living behind Iran, the country is made up of more than 7,000 tropical islands – some still not fully explored – giving options of city, rural and coastal living. For UK expats, the towns and cities have some familiar places – like McDonald’s and KFC. English is widely spoken because of the heavy US political and economic influences in the country. The current pound to peso exchange rate is £1 to 70 pesos.
The first big change to come to terms with is giving up the housework and hiring a maid – for about £30 a month Electricity, water and telephone and the internet, including 24-hour air conditioning, costs £100 – £150 a month. Instead of owning a car, consider taxis and the local colourful ‘jeepneys’ for local journeys and hiring a driver if you are going further afield. Cost – budget for between £50 and £75 a month.
Food is not expensive. Eating out all the time will put the bills up, but a family should eat well for about £350 a month. The cost of living is more expensive in the capital, Manila, but still only fractionally more than the figures quoted above. Prices for property in the Philippines are like everywhere else – you can buy local housing that needs renovation cheaply, but even luxury Philippines real estate, is at the bottom end of the price scale compared with similar property in the UK.

Manila property, like Raffles Residences Makati , offers one to three bed apartments from £188,000 – £532,000 in the heart of the capital. The skyscraper development gives views over the city and sea and the architects and designers have not stinted on laying on five-star luxury appointment.
If luxury and seclusion is more your style, then consider Cacao Pearl Island, Palawan. The development is a private eco-friendly development on a private tropical island surrounded by fantastic seas, coral islands and an underground thermal river that was in the recent voting for one of the new seven natural wonders of the world. This Palawan property offers superb luxury in a one or two bed villa that cost no more than a standard UK three-bed semi. Prices start at £131,768 for a single bedroom villa and go up to £218,589 for a two-bed villa.


Ray Withers

Ray has over 17 years’ experience in the international property market and bought his own first international property investment back in 2002. Aside from running Property Frontiers, Ray has been involved in residential, hotel, student and commercial property investment and development in both the UK and overseas and co-wrote "Where to Buy Property Abroad - An Investor's Guide". As Founder and Trustee of the Frontiers Foundation, Ray is directly involved with many of its projects to ensure they have a direct and tangible impact in individual communities across the globe. He is passionate about property, travelling, scouting out new opportunities and finding time to spend with his young family.
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