Global professionals seen to pour steady investments in Ph property mart
As the domestic economy continues to rise, overseas Filipino professionals grow increasingly confident in the Philippine property market to provide sure and secure returns from their hard-earned money abroad.
Most global analysts project that the Philippines will be among the top economic performers in the world. In a recent report, the government is confident to break the earlier conservatively forecasted figures by yearend and sees further growth by next year.
In the reports, the Department of Trade and Industry said that the country’s gross domestic product (GDP) could grow 6.7 to 6.8 this year to make the Philippines next to China in terms of economic expansion. According to the department, increased local and foreign investments as well as public and private spending are seen to drive growth.
According to economic experts, the country’s GDP growth is driven mainly by the increased government spending, fiscal and tax reforms, high performance of various industries such as the BPO/ICT and property sectors, and the remittances sent by millions of overseas workers.
As of the end of the third quarter, trade officials have entertained a significant number of investment missions coming from different countries. This signifies that the global business direction is headed towards the east, and the Philippines is seen to be among the countries to benefit from this investment appetite.
The property sector, for instance foresees an influx of investments from overseas professionals – such as Filipinos working as top executives abroad. This set of global professionals with expatriate status is believed to have preference for higher grade projects with equally higher prospects for value appreciation and growth.
According to Angie de Villa-Lacson, ArthaLand president and CEO, the property market “is seen to grow further in 2013 and beyond.”
“The market is rich with high growth potential and realizing this potential is very much at hand for both the developers and the buyers,” she adds. “We have a very strong demand brought about by the unfulfilled housing needs across all segments. The financial sector is very much supportive of the real estate industry and the end-users given the low interest rates. The Philippine property sector is lush and green, and with the steep competition, everyone is driven to deliver quality developments that are competitively priced relevant to its category.”
ArthaLand, the company Lacson leads is a world class boutique developer of top-end Arya Residences in Bonifacio Global City.
“For example here in Bonifacio Global City, one of the country’s most modern and future ready Central Business Districts,” cites Lacson, “there has a been tremendous growth of developments from business, leisure, hospitality, residential, and even cultural buildings. Property values have soared and those who have earlier invested here are already reaping good returns.”
Units at Arya Residences have increased in value by an average of 15% since its launch. This development is a two-tower residential condominium that offers luxurious living coupled with sustainable practices.
Arya Residences is the Philippines’ first and only residential project that is built to achieve dual green building certification. It is registered under the U.S. Green Building Council’s LEED (Leadership in Energy and Environmental Design) program with a certification goal of Gold. It is the benchmark vertical residential building for the Philippine Green Building Council’s BERDE (Building for Ecologically Responsive Design Excellence) program.
World class development
“We are aware that our products need to be globally competitive, and that we address the needs of our clients who have been exposed and are used to world class living abroad. Our sector has been very active in uplifting the standard of the properties that we build,” she adds. “That is why, for example, Arya Residences is strictly monitored by national and international panels of experts to ensure that we deliver the quality that we promise.”
Arya Residences was recently recognized as The Best Residential Development in the Philippines for 2012 by the South East Asia Property Awards in Singapore. ArthaLand, as a developer, on the other hand, was conferred by the Madrid-based Business Initiative Directions the Arch of Europe for Quality and Technology in Gold Category in 2012.
“Green living has become a must, and most countries around the world are encouraging everyone to practice ecologically sound and efficient lifestyle. We make this easy in Arya Residences by fully integrating features to encourage the residents use less electricity and prevent resource wastage. It has a strategic location at The Fort where international schools, a world-class health institution, business and lifestyle destinations, and even the airport are easily within reach so residents minimize using too much gas for their daily needs,” says Lacson.
Arya Residences is future ready with its fiber optic backbone which will allow seamless and uninterrupted entertainment and telecommunications. “The high bandwidth afforded by this technology will allow residents to connect and video stream with their loved ones 24/7. This is very important in today’s setting especially for those who have family based abroad,” Lacson explains.
Investing the green on green
Lacson, with her long years of experience in the real estate industry, is upbeat with the property sector in the years to come.
“We are encouraged to see more investments from the Filipino global expatriates, specifically in real estate. The potential to earn good returns is high, and the possibility of recurring income is there. An investment in a wisely selected residential development like Arya Residences can provide the benefits of property appreciation as well as steady source of rental cash flow,” she recommends.
With the country becoming a favorite business and tourism destination in Asia, a large population of expatriates is expected to come in with their housing needs. According to industry studies, this market has the higher propensity to pick larger units and is willing to pay premium for the rent. They favor green and bigger apartments for their transient housing needs. “Arya Residences will have an in-house building management and leasing teams to help owners with the upkeep and rental of the units,” shares Lacson.
She adds, “by investing your green back in a luxurious and green development like Arya Residences, you are planting a better seed for the future. Once it is completed, you can choose to have it as your home or as an instrument to earn more.”
The two-tower development is rising along McKinley Parkway in the world class district of Bonifacio Global City. The first tower will be ready for occupancy beginning the first quarter of 2014. The second tower will be turned over starting the first quarter of 2016.