With rising demand, capital growth and rental yield, the Filipino real estate sector is drawing more interest from foreign buyers, and is set to boom, say market commentators. The Philippines property sector is seeing strong interest from overseas investors and developers as prices, yields and demand all grow, say i
With rising demand, capital growth and rental yield, the Filipino real estate sector is drawing more interest from foreign buyers, and is set to boom, say market commentators.
The Philippines property sector is seeing strong interest from overseas investors and developers as prices, yields and demand all grow, say industry experts.
Both the residential and commercial sectors are expanding as the Philippines market draws interest from Asian buyers, with one commentator saying nothing short of economic disaster will prevent the sector booming.
Yeli Camus, Assistant Manager for Residential at leading global agent JLL in the Philippines, tells OPP Connect, “We have a good mix of foreign clients/investors in residential including British nationals, but the majority are from our Asian neighbours like Korea, Singapore, Japan, Chinese and India. Some of them look for investments good for a 10-year period. Recently we had some inquiries from Malaysian clients as well.”
And Henry Cabrera, Head of Capital Markets, JLL Philippines, says, “There is strong interest from foreign developers and investors to acquire commercial property in Metro Manila particularly in Makati and Bonifacio Global City, which are the country's premier central business districts.
“Both groups are looking for development opportunities in residential condos for sale or office space for lease. Most of these groups come from Japan, Hong Kong and Singapore. We are, however, starting to see interest coming in from Thailand, Malaysia and Indonesia.”
JLL forecasts in its 2014 Q1 Asia Pacific Property Digest that Manila residential rental and capital values are set to keep rising.