MANILA, Philippines - The country’s attractiveness as a top investment location has gone far outside Metro Manila.
Online property portal Lamudi in its latest report has declared eight areas outside Metro Manila as among the top real estate investment hotspots in the Philippines.
These areas include Cavite, Batangas, Laguna, Baguio City, Cebu City, Iloilo City, Bacolod City and Davao City.
“Whether you are a foreign business worker looking to invest in office space in the Philippines, an expat staying in the country for good, or an overseas Filipino worker (OFW) or a local employee seeking to purchase a home for your family, you would find the Philippines a prime location for real estate investment,” Lamudi said.
“Boasting stellar growth performance and credit ratings upgrades in recent years, the nation has attracted multinational companies and investors to set up shop in various parts of the country, bringing about the emergence of numerous and thriving economic hot spots,” it added.
While it is no surprise that the nation’s capital remains the top real estate investment destination in the country, Lamudi said new developments are on the rise outside urban centers of Metro Manila.
“With a huge backlog in housing, particularly for the expanding middle class, developers are focusing their attention on suburban areas near the metropolis, like Cavite, Batangas and Laguna,” Lamudi said.
The online real estate listing site cited more affordable residential properties than their urban counterparts as reasons turning Cavite, Batangas and Laguna into housing havens.
With Laguna and Cavite transforming into IT-BPO hubs and Batangas continuing to be a major manufacturing and shipping center, Lamudi said Baguio City, on the other hand, is seen as having a strong potential for hotels and holiday homes business.
Cebu, meanwhile, is among the top retirement destinations in the world aside from being one of the country’s main shipping ports, the online property platform added.
“Real estate giants like Megaworld Corp., Rockwell Land and Ayala Land are flocking to Cebu City where condominium units, especially studio types, quickly sell. The city is also a viable option for the BPO industry, and thanks to its booming tourism, hotel occupancy and resort-community projects are on the rise,” Lamudi said.
Iloilo, Bacolod and Davao cities were cited for being popular tourist destinations, further bolstering its viability to become leading business hubs.
“Home to the leading business, educational, and residential centers in the country, these areas are the best places to be. Ideal for commerce, leisure, and home, they would offer the best returns to your real estate investment,” Lamudi said.
Lamudi is a global property portal focusing exclusively on emerging markets, generating about one million visitors per month. Its fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 600,000 real estate listings across its global network.