As any property expert will tell you, there is money in real estate, which is why people who are looking to grow their finances are constantly being reminded of the opportunities to earn in property investments.
But some may argue that the best time to invest in real estate in the country may have already happened. A property purchased over a decade ago would have not only cost less but would have earned a great amount presently. For instance, a prime three-bedroom condo unit in Makati’s central business district cost only less than Php100,000 per square meter in 2008, as opposed to 2015, where the amount has jumped to Php150,000.
Still, taking into consideration current trends in the Philippine economy, real estate investing can still be a very lucrative business. For one thing, the Philippine Statistics Economy reported that the country showed a 6.8 percent growth in GDP in 2016. (It is worth mentioning that PSA mentioned real estate as one of the main drivers of 2016’s last quarter, which saw a 6.6 percent growth.) Also, Finance Secretary Carlos Dominguez predicts a 6.5 to 7 percent growth in 2017, a good sign that the economy is stable.
Also, Pinnacle Real Estate Consulting Services noted in their 2016 Q4 report the influx of tourist arrivals to the Philippines, as well as the projected growth of the information technology- business process outsourcing (IT-BPO) industry by 12 to 18 percent from now until the year 2022. The increase in the number of foreign nationals coming to the country for employment, vacation, or permanent residence could indicate that home and office rental business will continue to be strong.
And good news to those whose limited finances are hindering them from purchasing a property: more and more real estate developers are expressing interest in going into the social housing game to help solve the low-cost housing backlog, which could result in a higher supply of more affordable properties.
On top of these is the continuous improvement of infrastructure all over Metro Manila: the Manila–Cavite Expressway (MCX) was opened mid-2015, the proposed Cavite–Laguna Expressway (CALAX) will begin construction this year, and many more projects are in the pipeline. With travel to and from the metro becoming easier, the progress of neighboring provinces will also continue. In fact, developers have ventured out to build full-scale townships in these areas due to their growth potential, drawing more relocators to the idea of living away from Metro Manila.
For anyone looking to earn money by investing in a property in the Philippines, the opportunity is present, but proper research needs to be done. If venturing into the property investment business for the first time, it’s still best to seek help from a mentor whose expertise can guide you in making the right buying and selling decisions.
This article was originally posted on MyProperty.ph.