As you might have noticed, the Philippines are rapidly rising in the ranks of the most lucrative and sought after real estate in the world. Our islands boast some of the most beautiful property on the planet, and real estate in the Philippines is still a mostly untapped market. Right now is the best opportunity for investors wanting to get in on the action early. But a prospective real estate buyer needs to know the basic principles of property appreciation and property depreciation.
This is made easier in the Internet age where often you can easily trace the history of a property and calculate how much it has appreciated or depreciated over the years. But there’s more to the formula than just normal market fluctuations. Anyone qualified to give you competent real estate investment advice will tell you that location is the deciding factor in any assessment ofproperty appreciation or property depreciation.
Obviously improvements to the property are the major factor in property appreciation. If you add a hot tub, extra bedroom, kitchen improvements, a hardwood floor, new windows, anything that adds to the utility or aesthetic attributes of a property will cause it to appreciate in value. But location is often the major factor in property appreciation. If you’re lucky enough to invest wisely in some beach front property it’s almost guaranteed you’ll see a return on your investment.
Location has to take into account other factors though. Having ready access to hospitals, restaurants and cultural attractions, entertainment, good schools, transportation, shopping malls, the business district and airports, is a major concern for potential buyers and an important factor to consider before investing in property. A small percentage of buyers might be looking to get away from all these things but most will be looking for convenience.
Property depreciation happens when an owner doesn’t take care of their property, or the environment around their property changes. This can be avoided by maintenance, of course, but also by keeping an eye on local happenings, and anything that might affect your investment.
The GDP of the Philippines has risen rapidly over the last ten years and is expected to hit $372 billion by the year 2018. That means this is a great time to invest in property. Of course, property values can fluctuate from one area to another, and it pays to do some research before you decide to invest.
For quality real estate investment advice you need to seek the counsel of people who are experienced and reputable with a proven track record. . ZipMatch is the premier real estate source in the Philippines. They can guide you through all the complex considerations of investing in a rapidly growing and competitive market. Give them a call today.