The Philippines is an island country in Southeast Asia, and it is considered one of the most popular travel destinations worldwide. It has a tropical climate with some of the best sandy beaches in the world. That's why the Philippines has tourists all year round.
The Philippines has one of the most stable and growing economies in the world. In 2019 the economic growth was about 6%. It is expected that by 2030 the Philippines, and especially its capital Manila, will become one of the top business hubs in the world, that will dominate the world economy.
This stable economic growth makes the Philippines’ real estate market very attractive for foreign investors, and in general it is considered one of the best and most popular countries in the world for foreign investors. Actually, it is in the top ten countries in the world that foreign investors would choose to invest in real estate.
Other than the many tourists the Philippines has each year, the country also has a large population of more than 100 million people, that travel around the country. So, with so many tourists and also with this large population you can be sure your property will always have tenants.
One of the best investments that foreign investors could choose is a condotel. A condotel is a room(unit) inside a hotel. When buying a condotel you are not buying the whole hotel but a room(unit) inside it. A property management company manages the hotel, and your unit as well, and is responsible to rent it and clean it, taking care of the maintenance and paying all the necessary taxes to the government. The only thing you are responsible for is to receive your profits. You don't even need to visit the Philippines if you don't want, but if you do to enjoy a relaxing vacation, you can use your unit for a specific amount of time. For these reasons, condotels are considered a worry-free investment. Another good reason to invest in condotels or another type of property in the Philippines is the large and stable economic growth of the country. If you buy something today, in some years you can sell it if you want for a much higher price. Condotels and many other real estate projects in the Philippines have an ROI of about 7 to 9%, so an investor can have a very good profit. If someone is interested to find more about the Philippines real estate market and how he/she can invest, he/she can pm me on my Whatsapp +35799075509 or on my Linkedin https://www.linkedin.com/in/andreasioannourealestate