Real estate investing in the Philippines opens great opportunities. It is a type of asset that you can have for personal use or as a source of passive income. However, as with other types of ventures, real estate investing could have its risks too. It will take careful research and proper evaluation of the property to ensure that the money you’ll invest will be put to great use.
If you’ve been considering real estate investing in the Philippines, you need to have the basics figured out. Here are 4 of the tips that you shouldn’t disregard.
4 Basic but Important Tips to Real Estate Investing in the Philippines
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1. Assess Your Finances
Real estate investing in the Philippines involves a large amount of money. Before you begin hunting for great real estate deals, you should first consider how much you can spend on the investment.
There are also financing options that you can consider that can provide the money you need. Bank loans are an option. A Pag-ibig housing loan can also be availed which can provide payment for up to 80% of the property’s total value. There are also real estate developers that offer in-house financing so you can proceed with property acquisition even when your savings are not yet enough to acquire a property.
2. Know the Current Real Estate Trends
When investing in a property, you should know the most popular options in the market at present. This is especially true if you are eyeing to make a profit out of your investment.
In the Philippines, the rental property remains a top investment option. These are the properties that can be rented out to tenants for short or long term. Because of their nature, they offer great opportunities for income generation and wealth building in the long run. Some of the examples for this are condominiums, condotels, and beachfront properties in the key locations in the Philippines.
Condotels in particular is a growing real estate trend. It is a cross between a condominium and a hotel that promises another investment opportunity. In fact, experts see condotels as a way to bounce back after the crisis. It is a low-risk investment that promises financial security and reliable sources of income
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3. Identify Ideal Locations
A property in a good location brings great advantages–especially in the long run. For one, you are certain that real estate value will not be depreciated. If you have chosen a location that is near schools, hospitals and other commercial establishments, lots of people will be interested in your property because of the accessibility that it offers, distance to essential locations, and diverse lifestyle options.
Locations with up and coming developments should also be looked into. New infrastructure and road developments usually come with this type of property. With that possibility, you can be sure that your property’s value will not depreciate.
On the other hand, you should also stay away from locations that may put at risk not only your investment but your safety too. These are the flood-prone areas, as well as those cities that have been identified to be lying on faultlines.
CHECK OUT: Flood-Free Areas in the Philippines
Luckily, if a safe and sound investment is your concern, you can buy a property in Palawan, Philippines. Whether you are in search of a condo for sale in Palawan or a beachfront property with mesmerizing views, you’ll find it in this province. Palawan is also known as the safest part in the Philippines as there are no active volcanoes, active fault lines, or deep trenches found in this location.
4. Look for Trusted Real Estate Developers
Basically, this has a lot to do in ensuring the success of your real estate investment. With trusted real estate developers, you can set your expectations properly. You can also have the confidence that important considerations have been taken to leave you with no worries once you have already secured the property. It is also with a trusted real estate developer that you can be guided properly throughout the most important steps of real estate investing in the Philippines.
ALSO READ: Important Facts You Need to Know about Land Value and Real Estate Appraisal in the Philippines
Real estate remains as a top investment option that can secure your hard-earned money. If you are a first-time property buyer, it matters to do your research first. Partnering with a reputable real estate developer can also spare you from hassles and can even get the usually tough parts of real estate investing done on your behalf.
Are you ready to turn real estate opportunities into income-generating ventures? Talk to us.