Investors love looking at properties in the Philippines because the country represents a place that is as beautiful as it is affordable. The Southeast Asian country is located in the Western Pacific and comprises over 7,000 islands. The capital, Manila, is famous for its centuries-old Chinatown and lovely waterfront promenade. The heart of Old Manila is Intramuros, which was once a walled city during colonial days. Intramuros is home to Fort Santiago, a military prison and storied citadel, and San Agustin Church, a baroque church built in the sixteenth century.
Therefore, the country’s tropical climate and Old World appeal encourages many investors to look at the real estate. If you want to enjoy a change of pace – one where things move at a slower speed and the cost-of-living is less than in Western Europe and the U.S., you will like the Philippines. The weather is warm all year round, and the white pristine beaches display coconut palms gently swaying in the inviting breeze. Crystal clear waters allow you to see 15 feet down to the sea’s floor.
A Permanent Holiday
If you want to escape the hustle and bustle of other cities, then the Philippines is the place for you. In fact, some people travel to the Philippines on holiday and end up staying in the country permanently. Many travelers, when they return from the country, do so reluctantly.
The largest of the many isles in the Philippines is Luzon, which is located in the north. This part of the country offers many beautiful Philippines real estate properties. That’s because Luzon is also home to the capital city of Manila. While Manila may be too big for some investors, you can always search for properties in Cebu City, also called the Queen City of the South. However, you do not have to limit your real estate searches to these two places alone as there are, after all, over 7,000 islands in the country.
However, that being said, there are some nice attractions to see in Manila too. One of these sites is Makati City, which is the financial district in the capital. Makati City not only boasts modern skyscrapers but is exceptionally clean as well. The place is also a great shopping venue.
Mactan Island, which is the base for the Mactan-Cebu International Airport, is connected to Cebu by two bridges, one which was completed and opened in 1998. While it is financed by the Japanese, the bridge is beautiful and ultra-modern in style. The other bridge was not capable of handling the flow of traffic crossing back and forth each day between the two isles.
People love the Philippines because it expresses its prosperity in a very simple way. You can live on an income of about $1,000 a month and live comfortably. You can even get by on less if you are frugal. Apartments are widely available in Cebu, although apartments on Mactan, particularly in Lapu-Lapu City are even less expensive. A nice one-bedroom apartment is about $75 while a three bedroom goes for about $200 monthly. An average electric bill is about $50, even when you are using the air conditioning every day.
Needless to say, whether they are an investor or become a resident, no one ever regrets their decision to “escape” to the Philippines.