Due to the worldwide break out of Novel Corona Virus, the real estate industry in the Philippines witnessed a sharp decline in the year 2020. However, over the past two years, things have gradually changed for good. From the year 2021, the real estate industry is showing steady growth, and fortunately, the ascending graph is still consistent.
Several multinational companies have established their offices in Cebu and Davao regions. According to the market analysis, the demand for provincial business hubs is going to increase in the coming months. The areas include Baguio city, Taytay, Rosa city, Lipa city etc. Therefore, it is high time to invest in commercial spaces in these areas. If you find office space for sale in the regional business hubs in the Philippines, it would be wise to invest in it.
Tips For First-time Property Buyers:-
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Rates:
Property rates are the first concern for any buyer anywhere in the world. Due to the worldwide lockdown break out of a deadly pandemic, people were more concerned about food, shelter, health and jobs. That is why, for the past two years, property rates have remained low.
Property dealers are coming up with attractive deals and lower interest rates to draw customers and recover from the losses. This is the opportunity and right time to invest in property before property rates soar high.
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Location:
Whether you are planning to buy residential spaces or office spaces, location is important. The rate of the property depends on it.
If you are buying a residential property, please check the nearest hospitals, schools, markets and malls. If you are looking for office space for sale in metro cities, then check the accessibility of the space from other parts of the region.
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Foreclosures:
In the past two years, the number of foreclosed properties has considerably increased. People who have lost their jobs or faced terrible losses in their businesses could not pay off the rents or instalments. As a result, these foreclosed properties have returned to the hands of the property dealers. They offer good deals to sell these properties.
Now, the investors and the prospective buyers should make the best use of this golden opportunity. The Philippines’s economy is expecting a strong comeback. The coming days are going to witness massive development in the real estate and tourism industry.
Spire Group, a Real Estate company, deals in all kinds of property selling in the Philippines. They are highly esteemed licensed brokers who have been helping local and foreign investors in property dealing successfully for years.
