Posted by
Ernie20
12 yrs ago
Thanks Ed and walkup, it will interesting to see if anyone else has opinions.
Forgot to add of course, PI has a lot of English speakers, even out in the sticks someone has enough words to undrstand. It's a big advantage in the job market they're in and for an expanding tourist industry. A significant number of Korean tourists as well nowadays.
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ernie, I tend to agree with you. PI has enormous upside. I just don't know exactly how to cash in on it. The people are well educated, hard working and fun loving. I wish I could live in PI, like you said, it just seems like a real up and coming place.
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Manila was once the richest city in Asia.
No longer. I don't think it will ever regain that status.
The place is full of Filipinos (which is not a problem in itself), but they tend to do politics and economics in a Filipino way (which is a disadvantage)
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Huh?
Who was talking about Manila taking over Tokyo, Seoul, Hong Kong, Shanghai or Taipei? Just saying that PI, in general, could be an area of growth potential.
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I think the guns issue is a little overplayed, been here many times and never seen them used in anger. Seen two armed bank raids in England! Sure there are armed guards for banks and shopping malls even small hotels, again never encountered anyone using them.Sensible behaviour as regards to safety is a good idea, as in London after dark! Not terrifying.
Finacially high risk, depends what you want to do. Condos you can own, land you can't, like several countries in the region, so it has to be done through an intermediary - there's a big risk. Sometimes you're waiting for infrastructure to get built, like a road or airport to increase the value of your land. Therein lies the gamble, can still get beachside land at 15-60 pesos psqm but you may have to wait years for infrastructure. Beachside land near the city, next to a concrete road will be in the hundreds or probably few thousand pesos psqm.
Then comes the question of what you want to do with it, buy and hold, build a house and live, what about a resort? Depends upon your appetite for the place.
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foreigners can't own land period. Almost all standalone houses are sold with the land, so this is not a viable investment. Foreigners are pretty much restricted to condos in major cities. each condo development cannot exceed something like 40% foreign ownership (i think).
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It's very hard to make money in the Philippines. The law, contracts and promises count for nothing and there is a culture of milking someone with money via hidden fees and penalties. And that's just amonst friends and families.
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Exactly.
I read that after years of working in HK, most Helpers are still in debt,
because they are EXPECTED to send money home, and make loans to "friends"
Its noble in a way. But can also be deeply foolish
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properties such as condominium is a good way to invest. you can check this link to get more idea http://www.youtube.com/watch?feature=player_embedded&v=4ey0eAzxCMc .
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yes. If you are interested i can ask the vice president of "Century Properties" to meet you (while he is here in Hong Kong) and present to you a variety of condominiums in Philippines. AND of course answer all your questions.
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Hahahah. If the president has time to meet individual buyers, probably not an investment that you want to be making.
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since i'm a bit curious i tried meeting them to check. from there i found out that they are now targeting international sales so they went out in different countries to present what they offer. if you are in doubt, try to meet them if you have time. but i sure hope that this is a good one.
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Any one with half an ounce of common sense wouldn't invest in the The Philippines. If it's not a complete scam from the off, you will get whacked for fees. If you must invest there, buy shares of Ayala Land.
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Loyd,
On what basis are you forming your opinion, personal experience? Foreign direct investment doubled, stock market up 30% in last 12 months. Currency appreciated 10% against HKD. Rental yields on flats net yield is 12-15% gross (8%+ net). A zero debt nation, credit rating recently improved.
Investors in Philippines have done pretty well the last few years seems to me.
Sure its not as easy to do business as Hong Kong, but its risk/reward. If you have connections/family it may be worth it. It is certainly not "a complete scam".
And yes, I do own some investments there.
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A bit of both. Have you actually realised a profit on your investment or is it just on paper? Perhaps you are lucky.
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Sure, caution should be your middle name in all dealings with money in the Philippines. Worth investigating though as it is a growing economy, 6.6% last year as we see today.
http://rthk.hk/rthk/news/englishnews/news.htm?main&20130131&56&899402
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I have not sold the flat, as it is at least a 5 year investment. Stocks in the Philippines are just like everywhere. Open a brokerage account and off you go. If you don't want to risk dealing with a Philippine bank, an even easier way to get exposure is on the hang seng (ETF 3037) but the volume is a bit low.
I guess I don't see philippines as any riskier than other emerging markets like thailand or indonesia. I see the potential for getting exploited as basically even.
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who would think that investing in singapore, thailand and hongkong would reali boom now a days??? if ur gona base it on the previous studies.... now the prices are reali high... A lot of people are under estimating philippines but they are reali marked as one of the tiger economy right now... a lot of big time players are already involved to some of the developers namely, Donald Trump, Paris Hilton and Philip Starck... think about it... dont u think we better start investing on the said country?
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HKLEV
11 yrs ago
I was in Manila recently and talking with a local friend about all the appartments coming on line in the next couple of years. You can see the the salespeople and highrises sprouting all over the place, especially Fort Bonafacio as well as secondary/holiday homes about an hour out of Manila. Foreigners can only invest in appartments under certain conditions. The appartments look great, although bunched too tightly together, and there are some nice areas. The question is: who will rent them? Local people generally cannot, or do not want to, afford the kind of rent expected and the number of working expats in Manila is still very limited and remains restricted. Feels to me as if there is a (short-term) oversupply coming.
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The Philippines recently had their credit rating upgraded by Standard and Poors to BBB- (investment grade). This is the second agency this year to upgrade the country's rating. Perhaps this will cause an influx of FDI. The current boom in manila is already being caused by the BPO boom.
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bump - to compare with the new thread:
http://hongkong.asiaxpat.com/forums/hong-kong-property/threads/152905/philippines-property-thread/
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