As per the report of Oxford Business Group, years of investment and strong economic development in the Philippines have strengthened the sector of real estate which is not only limited to the greater Metro Manila region but also extends outside it and to the secondary markets around the country.
Factors like accommodation for employees who want to live near their working places, strong remittances and increasing urban population are acting as catalysts driving the demand of residential properties and condominiums.
Therefore, this high-pitched demand for new residential and mixed-use projects inside and outside of Metro Manila provides real estate investors in the Philippines with a number of practical reasons to invest in the real estate market and grow their money.
Moreover, regardless of what part of the Philippines you are living in, real estate investment is common among Filipinos. Since the economic development is getting stronger every year, the real estate market of the Philippines is steadily rising as a promising investment option.
Among all the locations, Metro Manila remains the favorite option to own a townhouse among most of the folks because this place offers a more convenient lifestyle with freedom and leisure. But, why investing in a residential property is beneficial for investors. Let’s check out.
For all of us, purchasing a property is the most ideal investment that we can make for our future. Plus, if you plan to stay in your home, value of the property increases substantially because every property which is purchased with the purpose of living contains almost all the features which are required for comfortable lifestyle.
When you own a home, you can enjoy a significant amount of tax deduction, closing costs, and even loan discount points that are tax deductible. All these things help you recover a considerable amount of the purchase cost you invest in a property.
High Level of Privacy:
Privacy is one of those things about which Filipinos are highly concerned. Owning a home in a good location makes them feel secure, not just with their valuable possessions and belongings but also with their lives.
Naturally, when people have their own property to live in, it brings a sense of pride and dignity in them. This is why every other person aims to invest in real estate. Owning a home means you can do whatever you want, whether it is painting, playing music at loud volume, attaching permanent fixtures, having pets and decorating the home just the way you want.
Buying is Cheaper than Renting:
Filipinos believe in the fact that it is always cheaper to own a home than renting a property in the long-term. Especially, it is because the interest which renters accumulate.
So, real estate investors in the Philippines are considerably increasing in number as its economic development is presenting umpteen opportunities to become secure when it comes to accommodation and living.