I am considering buying a condominium in Makati Philippines. Makati is currently booming (before Corona). I live in Europe, but I have people who can do Airbnb for me. Does anyone have experience? Thanks in advance,
Washington State · Member since 2020 · 133 posts · 36 votes
6y
Curious to see if you have all made any movement on investments there. I have been working pretty extensively in the Philippines for the past 4 years and considered looking at higher end condos as well. This was well before I found bigger pockets. Anyway, lots of development and movement north and south of Manila with the plan to build Asia’s largest airport and the need for more affordable housing and less congestion in Metro Manila. The MRT I believe is expanding as well with very aggressive plans to Expand that as well. What have you guys heard?
Kansas City · Member since 2019 · 162 posts · 54 votes
6y
@Marc Estepa makes sense. If there are this many red flags, probably best to avoid it unless there are non-economic reasons for wanting to do it. There are plenty of other countries which are more "investor friendly" if your ultimate goal is portfolio diversification.
Real Estate Consultant · Norfolk, VA · Member since 2017 · 345 posts · 201 votes
6y
@Marc Estepa I think condos are good investments in the Philippines if you get it a good price and allow short-term rental like Airbnb. One other challenge is finding a good property management company and cleaning crew, but AIrbnb is becoming more popular now, there are more and more companies or people offering the services, usually you can find them in Facebook. I am not updated on the trend there but I think Taguig or somewhere near the airport I think is a good location. As you know, a lot of Filipinos are working overseas, plus the tourists, having Airbnb near the airport will definitely get booked.