Manila Property is in High Demand – Growing economy Driving Demand For Apartments in Manila
There are quite a few condos for sale in Manila to choose from and most are well furnished, elegant and modern residential homes. Some of the apartments have leisure facilities including a gym and swimming pool and spa.
Most apartments are affordable and a lot have flexible payment terms especially for the off plan properties. For instance one can pay very low instalments of each month over the build time. The good districts where you can find good quality apartments for sale in Manila include the sought after Rockwell, the Roxas Boulevard, Manila bay, Rizal Park, Eton Bay Park and Kalaw Street. Other good apartments can also be purchased around Robinson malls, SM Fairview, Makati residential resort and UP-PGH.
One residential building may have more than 100 units. In almost all of these residential complexes, there is always a large parking slot available to serve everyone living in the building.
Apartments for sale in Manila are a perfect investment opportunity. The multifaceted and diverse economy in Manila ensures that there is rapid development in every sector. Products such as, sugar, plywood, electronic goods, textile, and beverage are consumer locally and also exported overseas. This ensures that there is a constant flow of money in the economy with an increasing amount of more affluent people looking for good accommodation in the area which has pushed up rental yields to around 14% p.a.
Since Manila is the main seaport of the Philippines, it is one of the busiest ports in the world. The steady manufacture sector ensures that there is a constant demand for employees. This has caused a growing number of people working in Manila who are in need of accommodation to rent. If an investor purchases a few apartments they can live in one while renting the other or others and to generate returns on the investment. T
This is one of the main reasons why apartments and condos are rapidly becoming popular in Manila because of the strong demand and high rental yields.
The latest development projects in Manila are worth many billions of Peso’s. Such projects employ a sizeable amount of people who many of have come to the areas specifically for work and as mentioned earlier the people working Manila will of course need residential houses. People just starting out in manila always start by renting an apartment rather than buying and most will simply rent an apartment for a short period of time which of course brings returns to property investors. Within a short duration, these employees will again search for an apartment when there lease expires or they are making more money and want to upgrade or have discovered a certain district in Manila that they prefer. Also as one’s family grow, he or she may need a larger apartment. This means that demand for Manila property will never end as people in Manila are always looking for apartments to rent, lease or purchase.
The government is encouraging private individuals to invest property in Manila and also investing in real estate themselves. Recently the president authorized a project on a 20-hectare area. The investment known as the San Miguel City will be situated in the North Harbor. Such projects also ensure that the Economy within the city of Manila is stable. The projects are a major source of financial returns for most parties involved and are great news for Manila property investors and just another reason why Manila apartments are a sound business investment.