Find out what’s happening in the property investment arena both in the UK and internationally
Winning With Raffles In Manila
May 1, 2009Article by Ray Withers
Ex-pats just love the taste of living and working in Manila, the Philippines capital.The rental costs in Manila are among the cheapest in the world, according to a new property survey.Manila ranked 40th cheapest in a list of 50 ex-pat urban favourites – beaten by Brussels, Buenos Aires, Budapest, Bangkok, Stockholm, Prague, Jeddah, Toronto, Mexico City, and Johannesburg.
Nevertheless, the cheap rental costs does not mean that Manila real estate investors receive a poor return on the investment because of the relatively modest property prices in even the best areas of the city.
One of the main reasons prices are so cheap in Manila are currency fluctuations, according to Mercers, the international letting agency who carried out the survey.Moscow retained top ranking as the most expensive city for rents, followed by Tokyo, Hong Kong, Mumbai, and New York.
Beijing, Geneva, New Delhi, London, and Singapore were also in the top 10.
If you are looking to invest in Manila property to rent to ex-pats try The Raffles Residences Makati– an upmarket name and location that comes with 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.
The development offers:
* Four bed penthouses – prices on request
* Located in the financial and lifestyle hub of Manila
* Up to 80% HSBC mortgages available to foreign investors
* Excellent rental and capital growth potential for these already very popular properties
The Makati District is home to the Makati Stock Exchange and the Makati Business Club and is popular with ex-pats working in the financial and business districts.