Learning about the Fast Changing Value of Real Estate Investment
From early 2017 to late 2018, the price growth of real estate properties was observed to go as high as 10% for condominiums, 33% for house and lot and 18% for town houses. This is amidst the boom in the industry happening here in the country.
House and lot properties showed the biggest growth as more Filipino families find home to settle. It is also still considered as one of the best investments of all. This kind of property demands plenty of space thus, its location is only limited to villages and communities.
Town houses on the other hand which are located on far provinces suited for vacation and relaxation are preferred by those who are about to retire or want a break on their life. Its prices are being pushed because of the scarcity of space on major cities. That’s why provinces which are not that developed is where companies and investors come to look for locations which they can develop and where they can invest and earn significantly.
Condominiums which are for starters, or individuals with career or those who just wants to invest and earn an amount from the property. Prices continue to soar high as more high-rise property gets built and developed.
Location is one of the primary factors which drive the price of these properties. Due to the boom in the real estate industry, there became a competition on space in many areas near major business districts. Continuous development and construction on these areas poses a threat of scarcity which become the reason why the prices of the properties become higher and higher.
Another factor comes from the demand of other industries for space and for establishments which only real estate can provide. The success of these industries also means more demands from other companies; thus, an opportunity for real estate investors and developers to drive out more revenue.
It’s only a matter of 2-3 years but the level of the rise of property prices has already become significant. While according to experts, this movement in the price rate is not stopping yet. As more foreign investors become interested and engaged in the Philippines’ real estate industry.
On the other hand, they assured that this price hike will not negatively affect Local and Filipino investors. In fact, it is even beneficial for them if they would be able to invest wisely and properly in the market. The success of their investments still relies on them. But it is promising that the real estate in the country is in good and flourishing condition.
The challenge now aside from the prices that will continue to move upwards is the tight competition among businesses. But there’s nothing to worry about because there’s a lot of strategies to survive in the industry. All of these involve an in-depth study and sufficient knowledge about the status and pulse of the market which can be used to strategies and make a good business plan.