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‘World’s best islands’ bring holidaymakers and investors flocking to the Philippines
November 2, 2016Article by Kirsty Rose
The delightful natural setting of the Philippines is certainly proving a winner with holidaymakers. International visitor numbers have risen to the point that spending by foreign visitors accounted for 8.2% of gross domestic product (GDP) in 2015 and meaning that tourism is now officially the country’s third biggest export.
The 7,000 islands of the Philippines provide a stunning landscape of sandy beaches, lush vegetation and sparkling seas. Teeming with aquatic life, as well as reefs and shipwrecks ideal for snorkelers and divers, the islands offer a tropical paradise that is charming holidaymakers and investors alike.
JLL’s newly published Global Real Estate Transparency Index 2016 shone the spotlight on the Philippines this month, when it found that the Asia Pacific region is the most improved in the world for real estate transparency. Meanwhile, Time and Leisure magazine has included three of the islands – Palawan, Boracay and Cebu – in its World’s Best Islands list.
The increase in both domestic and international visitor numbers has created significant opportunities for investors in Philippines real estate. Ray Withers, CEO of specialist international property investment company Property Frontiers, explains,
“Demand for high end hotel accommodation in the Philippines has never been greater and the country is racing to increase supply enough to keep up with demand. With high quality new resorts required in key tourism hotspots, international investors are keen to buy into the Philippines now in order to be part of the wave of new construction that is required to service the increased level of visitors. JLL’s finding that the Asia Pacific region is the most improved in the world for real estate transparency has furthered this significant trend of international demand for resort investments in the Philippines.”
Portofino Ocean’s Edge resort is a prime example. The ultra-luxurious, 5* clifftop resort on Carabao Island, minutes by boat from top island Boracay, boasts a private jetty and helipad for stylish arrivals, an infinity pool, spa and wellness centre for perfect pampering and a restaurant, bar and cliff edge clubhouse for socializing. There’s also an idyllic private beach for making the most of the stunning scenery that the Philippines provides.
Investors can own their own piece of Portofino Ocean’s Edge resort for just USD 109,000, including 10% interest during construction (now underway) and expected 15% NET return (underwritten at 10% minimum). Investment in the resort also includes 14 days of personal use per year, for the ultimate lifestyle benefit.