Qatar investors eye the Philippines resort and property markets

“The Philippines is the most affordable place to own luxury properties”

Gulf investors are seeing the Philippines as great opportunity for investing.  After buying up swathes on property around the world, including prime location in London, eyes are turning to the Philippines.  Such interest further establishes the Pacific islands as the leading investment hot spot if the Far East.

Resort-oriented properties and tourism-related real estate are among investments that appeal to Qatari businessmen eyeing the Philippine property market, an official of the Association of Filipino Real Estate Executives in Qatar (Afreeq) said.
Aside from the numerous residential and commercial condominium developments (both completed and off-plan) available to all foreign investors in the Philippines, Afreeq chairman Joseph Rivera said other “alternative inventories” like highland retreats and beach or island property options “are expected to catch the eye” of foreign investors.
“Recent consultative meetings with Qatari businessmen revealed that a significant sector of the locals would still prefer resort-oriented properties that are tied up to tourism.  They believe that such properties could always withstand any economic turmoil. Greece is a clear example. All of its beach front hotel accommodations remain to be at 98% occupancy despite the country’s ongoing financial crisis,” Rivera stated.

According to Rivera, Afreeq is confident that high-end developments within the Bonifacio Global City in Metro Manila will take the lead in attracting the foreign market followed by Tagaytay, Boracay, and Cebu.
“The Philippines is the most affordable place to own luxury branded properties such as Milano, Versace, Missoni, and Trump. International icons such as Paris Hilton also have signature properties in the country,” Rivera said.
Rivera said the cost of property in the Philippines remains as the third lowest in Southeast Asia averaging at QR8,666 (P104,000) per square metre compared to Singapore and Hong Kong, soaring at QR133,333 (P1.6mn) per square metre.
“The Philippine also boasts of having the second highest rental yield in Asia averaging at 8.98% per annum as compared to Taiwan being the lowest at 1.7%,” he added.