Philippines ‘attractive’ for investors
The Philippines will continue to be one of the most attractive real estate investment markets in Asia, according to the Vice President of KMC MAG Group, the local affiliate of the Savills real estate firm.
Speaking to journalists yesterday, Yves Luethi said Manila is very attractive to property investors, citing attractive demographics, a talented workforce, strong domestic consumption and higher government spending on infrastructure projects as some of the driving factors.
Recent research from the Urban Land Institute ranked Manila as the fourth most preferred destination for real estate investors in Asia-Pacific, placing the city higher than Singapore, Hong Kong and Sydney.
The company noted that Metro Manila, Makati and Bonifacio Global City continue to attract global investment, and also offer investors a good range of high-end and luxury residential investment options.
Michael McCullough, Group Managing Director, added: “Local developers have noticed the increase in purchasing power, particularly among the middle class, and are now responding to this growth by expanding their portfolios and partnering with international investors for new developments.”
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