Hi SSers.
I have recently moved to Manila Philippines and can't shake the property bug while here.
I have started this thread to encourage collaboration. If:
- you/ friends have experience working/ purchasing/ renting/ developing in SE asia/ Philippines
- you are interested in what Philippines has to offer property/ otherwise (I am also exploring modest business opportunities)
My initial unstructured assessment (been here <1month) is:
- yields are healthy (more on this later however have seen examples of 9% after quick scanning)
- unstructured/ unorganised market for purchases/ agents (ie: no 'sophisticated' RE.com.au/ domain type sites i can find just yet)
- non-Filipinas are able to purchase condo/ apartments NOT land (unless in JV with Filipina)
- economy appears to have reasonable growth outlook and is a hotspot for call centre outsourcing (ie: locals speak American English)
- strong rental base (american, australian, korean folk are quite prevalent here)
- greater tourist potential (ie: for famillies/ singles and not just single men). I have been pleasantly surprised by the clean sky, facilities, lack of crime (not short of pickpockets however generally much safer than what you man read about online)
- high unemployment rate (ie: silly economics, however I expect it has large supply to maintain low relative cost of labour so not pricing itself out VS India/ China)
On the negative side,
- there are a few dodgy players/ practices here, so need to tread carefull with contracts/ quality information... so far i've not seen much evidence but heard it is here
- flexible government/ officials (similar style to Indonesia, China, Thailand, Cambodia)
FYI on my situation: stuck on my first modest purchase a few years ago (Frankston 3 bedroom rental) and have been distracted by riding the sharemarket wave (managed to stay afloat and ride a little back up, currently 25% of portfolio in resources specs and using small cash base experimenting with options).
Let the questions/ comments begin ... (i do hope someone cares )
MM
I have recently moved to Manila Philippines and can't shake the property bug while here.
I have started this thread to encourage collaboration. If:
- you/ friends have experience working/ purchasing/ renting/ developing in SE asia/ Philippines
- you are interested in what Philippines has to offer property/ otherwise (I am also exploring modest business opportunities)
My initial unstructured assessment (been here <1month) is:
- yields are healthy (more on this later however have seen examples of 9% after quick scanning)
- unstructured/ unorganised market for purchases/ agents (ie: no 'sophisticated' RE.com.au/ domain type sites i can find just yet)
- non-Filipinas are able to purchase condo/ apartments NOT land (unless in JV with Filipina)
- economy appears to have reasonable growth outlook and is a hotspot for call centre outsourcing (ie: locals speak American English)
- strong rental base (american, australian, korean folk are quite prevalent here)
- greater tourist potential (ie: for famillies/ singles and not just single men). I have been pleasantly surprised by the clean sky, facilities, lack of crime (not short of pickpockets however generally much safer than what you man read about online)
- high unemployment rate (ie: silly economics, however I expect it has large supply to maintain low relative cost of labour so not pricing itself out VS India/ China)
On the negative side,
- there are a few dodgy players/ practices here, so need to tread carefull with contracts/ quality information... so far i've not seen much evidence but heard it is here
- flexible government/ officials (similar style to Indonesia, China, Thailand, Cambodia)
FYI on my situation: stuck on my first modest purchase a few years ago (Frankston 3 bedroom rental) and have been distracted by riding the sharemarket wave (managed to stay afloat and ride a little back up, currently 25% of portfolio in resources specs and using small cash base experimenting with options).
Let the questions/ comments begin ... (i do hope someone cares )
MM