Real Estate in the Philippines: 7 Things You Need to Know
What is Real Estate? Real estate is the property consisting of the land and the buildings built on it. It also includes natural resources such as crops, mineral deposits and water, as well as the air rights above the ground and underground rights below the earth. The term real estate means physical property. There are four categories of real estate: Residential real estate It is the category where the property is used for people to live on and cannot be used for commercial or industrial purposes. It includes both newly constructed or resale houses. The most common examples are bungalows, condominiums, co-ops, townhouses, and vacation homes. Commercial real estate This type of real estate is used solely for business purposes. These properties are usually repronted out to tenants for that purpose. This category comprises of shopping centers and strip malls, medical and educational buildings, hotels and offices. Apartment buildings, even though they are used for residential purposes, are often considered commercial because they are owned to produce a profit. Industrial real estate Industrial real estate includes all land and structures utilized for industrial activities. The buildings can be used for manufacturing, assembly, research, production, storage, and distribution of goods. Land It is a real estate without any structures. It can be vacant land (undeveloped, early development or reuse), working farm, ranch or a memorial lots or garden. Who can invest in Philippine real estate? It’s not difficult to assess if one should make a real estate investment. The country offers excellent investment opportunities for all kinds of investors, huge or first-timer alike. Success in the world of real estate is not a derivative of having a million-dollar investment. It’s enough that you have some start-up capital on hand as an initial investment. Getting a license is not required in real estate investment. Philippine real estate brokers have benefitted by having a real estate licensure. However, many people have earned well from buying and reselling properties. The best teacher is experience, but it’s not a requirement. All of those top real estate investors started from being inexperienced. Chances are, with a little bit of luck and a lot of real estate research, you’ll be at the top with them soon. Where are the best cities to invest in real estate? Discovering the best location is a huge part of a successful investment in real estate. Philippines has several prime locations and potential hotspots for investment. The property market in the Philippines is expected to achieve double-digit growth this year, with the following places listed below: Quezon City The highly urbanized Quezon City is home for about 3 million Filipinos. These entail an abundance of employment prospects, mostly young professionals, as well as recreational centers and wellness hubs. Investing in residential and commercial properties is encouraged. Makati City Makati is a place where there are around 60,000 commercial and retail establishments. Here the real estate investments are at a premium. Properties, especially in or around the Central Business District are the best target for any real estate investor. Numerous multinational firms, such as BPOs and POGOs, have set up their companies in Makati, transforming the city into a financial center. Office spaces here soaked up by these companies, as well as residential units for their employees. Baguio City The Philippines ‘ Summer Capital is a top tourist hotspot as well as a busy university town. Whether for travel or study, almost always someone will be searching for a place to reside in Baguio City. Without sacrificing value, real estate in Baguio City continues to be more affordable. At the same moment, despite ongoing growth, the town is wonderfully peaceful. Also, new ventures regularly appear, generating a growing market for commercial rentals. Gensan Officially referred to as General Santos City, it is a 1st class highly urbanized city in the Philippines. It is the shopping capital of the region, where residents from nearby towns and provinces visit the city to do some leisure activities. Its major economic activity is also primarily anchored into two industries: the agricultural and fishing sectors. Commercial and industrial real estate investments are promoted here. Gensan is also home to Forest Lake. It is a memorial park that has the most interred remains since the 70s. Their investors can be assured that they will be near their departed relatives and loved ones. It is also most accessible by public utility vehicles and private cars. In Gensan’s memorial park industry, there is a big room for investment. Aside from the use of the memorial property for interment purposes, its resale value is significantly higher than other forms of investment in real estate. When is the best time to invest in real estate? Philippines real estate investment is long-term and not an easy-money short-term venture. Often, the expectations of the buyer make real estate investments not perform as expected. Investing in real estate is being ready to keep that property for many years after purchase. Since it takes a long time to get a return of investment, the best time to invest in real estate in the Philippines is as soon as possible. As long as you have sufficient capital and made serious effort to research and study all the aspects, especially financially, that is the time to decide to get an investment. Properties such as a memorial lot, appreciate over time. The value of memorial lots is accelerating to a standard rate of 40% annually, and this rate is much higher for prime and accessible lots such as in Forest Lake, which is situated along the national highway with wider roads leading to the park. How does real estate in the Philippines fare? The Philippines enjoys a stable, robust property market. One evidence of this was the global financial crisis of 2008, which hit the U.S. hard but did not severely impact the Philippines. As a result, even if the market for Philippine Online Gaming Operations (POGO) passes its peak, the nation is anticipated to do just fine. Moreover, real estate demand
The Advantages of Investing in Memorial Lots
Death is inevitable, as they would always say. While it’s a wise decision to focus on the present, it’s even more sensible to prepare for what may come ahead, particularly death. We are all aware that at some point in our lives, we will need to face this reality and what better way to do it than to be prepared for it, right? Aside from preparing for your burial services and such, you should also not forget one crucial thing, and that is the memorial lot. Through the years traditions change, but one thing remains certain, laying the dead to its final rest is always a customary that’s non-negotiable. Because of this, a memorial lot can be a good investment, whether for personal or commercial purposes. Advantages of Memorial Lot Investments Planning pays off big time Just like acquiring regular real estate properties or other investment property, memorial lots will also require a lot of paperwork and time. Planning always proves to be more convenient, time-saving, and economical too, at most. Imagine if you need the memorial lot today or tomorrow without any investment, it will take so much work, time, and budget while still going through the grieving process. As a result, you will make do of a memorial lot that’s readily available, leaving you with no other options at all. At Forest Lake Memorial , we highly recommend that you start considering investing in memorial lots as early as now, while you still have plenty of time, and the price is still flexible. Just like any other real property investment, memorial lots increase its market value every year. In case you need an emergency fund, you can consider selling your memorial lot at a higher price. If a loved one passed away, you can also let them use the memorial lot, instead of buying a new one. It’s one thing less to worry about in the future Although death is something that you can never predict, you can always plan when it comes to the financial preparations that it may require. If you have already invested in a memorial lot, that’s one thing less to worry about in case something unforeseen happens. You will have more time to accomplish other requirements, and of course, your grieving process can be more reassuring. High return on investments According to memorial lot brokers, this type of investment property is now gaining momentum more than ever. The high return on investment from memorial lots is one of the main reasons for this, depending on how many years the property will take before reselling. The very minimal to almost no maintenance cost is also another reason why more and more investors are considering this type of investment. Unlike in condominiums and other real estate properties, there’s no need to repair anything regularly. Memorial lots stay as just empty lots and the most maintenance you’ll expect would probably just the regular grass trimming. Memorial parks are also most likely the ones to take care of such matters, so you also need not concern yourself about it. This investment property provides peace of mind A lot of people who invested in memorial lots were able to sell their lots at higher prices. Our sellers often receive thank you letters from clients who purchased memorial lots not just for themselves but also as a form of investment. One notable experience was from AM Tess Talamera who shares that her client used the earnings from the resale of her memorial lots to send her sons and daughters to school. One of her sons even finished Law because of her investment. Memorial lots are the only real estate investment you can make that’s protected against depreciation. Its value doesn’t become zero and it is good collateral since it’s a tangible asset. With all of these benefits, you can say that investing in memorial lots can give you peace of mind. Check out the memorial lot investments offered at Forest Lake Memorial. You can always drop by and sit with one of our brokers so you can find out more about it. It’s high time you start planning for the future, and when we say future, it doesn’t involve education and healthcare alone. After all, we are all heading towards the same direction, just not all at the same time. Now is the best time to invest in it.