Where Do You Want to Rent Property? Take a Look in Cavite

One of the top provinces in which to rent property in the Philippines is Cavite, which is situated on the south shores of Manila Bay. Manila Bay is found in the Calabarzon region on the island of Luzon. The rent-friendly province is one of the fastest expanding provinces in the country because it is located close to Metro Manila – approximately 20 kilometers south of Manila, the capital.

Metro Manila

Metro Manila, itself, which is also known as Metropolitan Manila, is the NCR or National Capital Region of the Philippines and is the country’s seat of government. It is also the most populous region in the country. The region is made up of Manila, the capital, Quezon City (the most populated city) and the Municipality of Pateros.

An Asian Power Area

In fact, the NCR is the 7th most populated metro area in Asia. The continued urban expansion includes the provinces of Bulacan, Rizal, Batangas, and Cavite. Because the NCR is the center of economy, government, education and culture, it has been designated as a world power area.

For well over 300 years, the NCR has been regarded as the historical capital of the country and is also noted as being the seat of the country’s revolution. Independence was declared in the Philippines after the renouncement of the Spanish court on June 12, 1898. The event took place in Kawit, Cavite. As you can see, a lot of history has taken place in this area – which is also now considered a flourishing real estate market.

The Cavite Province

Cavite, which is the second smallest province in the Calabarzon region, occupies around 1,420 square kilometers, or 8.72 percent of the Calabarzon region’s entire area of land. Cavite is made up of several islands, some of which are Balot Island, which can be found at the mouth of the Ternate River, Caballo Island, La Monja Island, and El Fraile Island.

Cavite is comprised of the lowest lowland area or a coastal plain and therefore has extremely low ground level elevations. The province is also home to a central hilly area, which is typically seen on the foot slope of mountains. All in all, according to Dot Property specialists, Cavite is separated into four physiographic areas, namely the lowest lowland area, a lowland area, the central hilly area and an upland mountainous area.

A Monsoon Forest Zone

Cavite also lies in a monsoon forest zone, proven to be extremely beneficial for rainforest formation, created generally through the growth of indigenous vegetation. The rainforest area is categorized as a Protected Landscape with the remaining woods considered unclassified. Forest products such as bamboo are supplied from this region.

While part of the land is used for agriculture, the more built-up areas are utilized for residential and commercial use. According to the Census in 2007, there were 611,455 occupied residential units in Cavite. Tourism makes its presence known in the housing market in the form of leisure farms, golf courses and resorts.

 

Philippine Real Estate – Growth And Development

Philippine real estate industry didn’t recuperate from the 1997 Asian Financial Crisis until 2004. Since then, the industry has been slowly gaining momentum and is now steam rolling towards success. Condominiums are popping up all over, the demand for houses and office spaces have been on the rise and the cost of realty in the Philippines, particularly in Metro Manila have also been rising. The demand for properties was a result of several things, one of them being the increased number of Overseas Filipino Workers.

OFWs wish to spend their hard earned cash in their home country in order to make a foothold in the nation when they return. It is said that around a quarter or more of the total income of OFWs is used on housing and other real estate properties which is great news for realty developers.

Another important reason for the growth in the development of Philippine real estate, especially in Manila is the success of the Business Process Outsourcing (BPO) industry. Foreign companies have begun to come to the Philippines searching for cost cutting processes since labor here is affordable and high quality. In addition, office space rentals and other Philippine real estate properties are sold at low prices with popular amenities. Because of this, various parts of Metro Manila have seen a huge growth in development such as Fort Bonifacio in Taguig City, Quezon City, Ortigas, Makati City.

Businesses can find nicely built office spaces in the Philippine’s many business areas. They can also find homes, luxury apartments and condominiums at bargain prices. These residential properties are often offered with furnishings, modern appliances and other comforting features. Those who plan on staying in the Philippines for an extended period of time can choose from the many condos available for rent in Manila. Philippine Real estate brokers usually offer a wide range of choices such as studio type condos, one bedroom, two bedroom and even three bedroom condominiums.

Another tempting reason to invest in Philippine real estate right now is because the government is continuously investing large portions of their budget in enhancing the country’s infrastructure. This makes it easier to travel around the Philippines, from Manila to the nearby provinces and even further provinces.

Foreign investors would also enjoy the fact that many Filipino people are good in speaking English. Also, some of them even know how to speak third languages as well which include Chinese, Japanese, German and Spanish among many others.

With the steady growth in the Philippine real estate industry, there is no question that these properties will become very valuable in the long run. Even though foreigners are not permitted to actually own land in the country, this doesn’t mean there is no way for them to invest their money here. Owning Philippines condominiums is a popular choice for foreigners. All it takes is a knowledgeable and trustworthy Philippine real estate broker. There are many brokers that can be found all over the internet. One celebrated example is Nabong Property Specialists.

Top Investment Opportunities in Manila Real Estate

Recognized as one of the most powerful markets in the Asian properties sector, the Philippine real estate industry is driven by a healthy economic growth that is fueled by a robust influx of direct foreign investments. Investor confidence in the Philippine properties sector can be directly attributed to reforms initiated and implemented by the country’s government. In addition, the Philippines has been able to achieve a high GDP rate in spite of global recession and one of the reasons behind this is an active construction industry and high amount of OFW remittances. Apart from that, good credit ratings achievement and political stability has also helped to create a viable economic environment. As a result, investor and buyer confidence is at its peak, and demand for office space in major business districts in Metro Manila, the country’s national capital region, is on the rise, along with demand for residential space and condominiums. Majority of the buyers in the Philippine real estate industry also recognize that investment in real estate is an excellent means of building up assets and wealth and that a keen eye for choosing the right location of properties to put an investment in determines the viability of such an investment. For good investment opportunities in Manila real estate, the following business districts are seen by many as a good pick:

Makati CBD
The Makati Central Business District serves as the financial center of the Philippines and plays host to several multinational corporations. As the oldest business district in the country, Makati CBD is home to the highest percentage of companies looking to have an office space in this prestigious location. Because of the high density of corporations looking to lease office space in this area, premium office space yield range from 7.5{8dac5dcb9f942b09754d29d206f8ecad2fe1c20701ee3d2765cee79f805470e6} to 11{8dac5dcb9f942b09754d29d206f8ecad2fe1c20701ee3d2765cee79f805470e6}, respectively.

Ortigas CBD
The Ortigas Central Business District is known to have the lowest vacancy rate for premium office space, which runs at 3.6{8dac5dcb9f942b09754d29d206f8ecad2fe1c20701ee3d2765cee79f805470e6}. Compared to Makati, Ortigas offers a better rate which can get as much as 30 – 35{8dac5dcb9f942b09754d29d206f8ecad2fe1c20701ee3d2765cee79f805470e6} lower. The same is true for residential space that are available in the area. Since Ortigas is in the middle of Metro Manila, it has the added advantage of being more accessible to employees of corporations holding office in the area. The facilities available in this location is the same as those that can be found in Makati, making it a more viable option for those who are looking for a top notch business location.

Fort Bonifacio
Also known as Global City, Fort Bonifacio currently has the highest rate for both price and yields for office and residential space, more particularly for condominiums, with prime yields running between 6.0{8dac5dcb9f942b09754d29d206f8ecad2fe1c20701ee3d2765cee79f805470e6} to 8.0{8dac5dcb9f942b09754d29d206f8ecad2fe1c20701ee3d2765cee79f805470e6}. This area has an increasingly high level of real estate activities, which indicates that both investors and buyers are willing to locate in the area despite the higher costs.

Entertainment City
Entertainment City Manila, officially known as PAGCOR Bagong Nayong Filipino is an ongoing development within an 8 square kilometer strip in the Manila Bay Reclamation area. Apart from the major companies that have tied up with the government to develop the area, various investors and developers have ventured into real estate business in and around Entertainment City. Apart from catering to local demands for residential living space, the current real estate activities in the area is also in anticipation of the projected tourism boom after the Entertainment City has been completed.

Alabang CBD
Alabang in Muntinlupa City is known as one of Metro Manila’s foremost business and financial districts. The area’s development as a business center traces its way back in 1970’s when a renowned real estate developer and business conglomerate in the Philippines started to develop a vast section in the locality as a premiere residential hub, developing along with it a business park, thus providing an excellent incentive for businessmen to relocate and do business in the area. Other developers has since then took notice of the potentials of Alabang as an excellent location for investment in top industries. As of date major players in the BPO industry, real estate industry, manufacturing industry, as well as many other sectors have business interests in the locality.