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The irresistible lure of owning a vacation home in the Philippines

Known for its breathtaking beacheswe tackle why the Philippines is also a good location to invest in 

Coast of Panglao Bohol, view framed by a terrace of a nice villa. MichaelDEdwards/Shutterstock

Living in the city equates to better career opportunities, higher income, quality education and healthcare, among other benefits. But this fast-paced, technology-driven lifestyle doesn’t come without a cost. More often than not, city-dwellers are burdened by their stressful day-to-day routine, coupled with pollution and heavy traffic.

To balance out this hectic lifestyle, privileged families or individuals have resorted to renting or buying a vacation home in the countryside to get their much-needed rest and relaxation. In fact, The Guardian wrote about the mental and physical benefits of spending time near water, citing an extensive study conducted by global information analytics firm Elsevier.

The study identified the environmental aspects of the location, such as having more exposure to sunlight and less polluted air. It also mentioned the psychologically restorative effect of water known to reduce negative mood and stress, and induce a more positive state of mind.

But why own a home in the Philippines?

Blooming real estate sector

Mainland Chinese have snapped up properties in the Philippines for business and recreation, which has driven the demand for more residential spaces. Just last January, Japanese investors have also taken notice of the archipelago, revealing how it is the most affordable compared to its neighbouring countries.

This is the perfect time to invest before any other nationalities go into a buying frenzy and prompt the developers to increase prices.

More: Philippines’ affordable real estate market attracts Japanese investors

Expat benefits

Expats are allowed to start a business, apply for employment, and get a permanent residence in the country. Foreigners aged 60 and up who are thinking of moving to the Philippines for retirement are eligible for discounts in several major establishments and services. The cost of living is also relatively low-cost so expats can live in comfort, hire house help, dine out, and occasionally travel the country without breaking the bank.

Beautiful turquoise lagoon of Boracay island, Philippines. MaksErshov/Shutterstock

Breathtaking location

The Philippines is home to some of the best beaches in the world, from the crystal clear waters and majestic rock formations of El Nido, Palawan to the unspoilt white sand and famous surfing waves of Siargao, Surigao del Norte to the turquoise waters and white powdery soft sand of Boracay in Aklan.

More: Philippines’ SEA Games hosting to encourage more property investments in Metro Clark

In Boracay alone, Newcoast Village by Global-Estate Resorts, Inc., the 7th PropertyGuru Philippines Property Awards winner for Best Housing Development (Resort Destination) and Best Housing Development (Philippines) categories caters to vacation home buyers. This exclusive vacation community in Boracay provides homeowners with the sanctuary to unwind from the stressful city life.

But aside from these globally renowned beaches, the Philippines has its fair share of ideal locations to invest on, particularly for those who prefer a less touristy area.

Know of any award-worthy homes, condos, flats, or other real estate projects in the Philippines? Nominate them for the 8th Philippines Property Awards on or before 29 May 2020! Simply visit https://www.asiapropertyawards.com/award/philippines-property-awards/ for more details.

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