Real estate development in Philippines, and to that point anywhere in the world, typically involves various types of land that can be used for different purposes.
When it comes to land that is used for the development of family oriented homes, the end product can range from single homes to apartment complexes with retail spaces on the ground floor. There is no end to the variety of residential properties that are designed and built in this day and age.
Commercial buildings like shopping centers, malls, and standalone stores require specific planning permission to fulfill the desired outcome. Office buildings, which range from the small single unit to entire buildings have similar requirements to meet as regards local authorities and building controls.
Warehouses, distribution centers, industrial plants, factories, heavy manufacturing facilities, ranching, or forestry purposes, parks, sports complexes, golf courses, and other recreational developments all come under the commercial development category.
Each type of land comes with its own zoning, environmental considerations, and development potential, which developers need to account for when planning projects.
Why Buy or Invest in New Real Estate Developments in Philippines.
The Philippines has been one of the fastest-growing economies in Southeast Asia. With a robust GDP growth, a rising middle class, and increasing consumer demand, real estate remains a strong investment option.
The government has been focused on infrastructure projects such as the "Build, Build, Build" program, improving transportation networks, and expanding public utilities. These developments make previously underdeveloped areas more accessible, thus increasing the value of real estate in both urban and rural areas.
With a young and growing population, there is increasing demand for both residential and commercial properties, especially in metro areas like Metro Manila, Cebu, and Davao. Condominiums, office spaces, and retail centers are highly sought after.
While there are restrictions on foreign land ownership, foreigners can own condominium units (as long as foreign ownership in the building does not exceed 40%). This opens up the market for international investors.
The Philippines is a popular tourist destination, and the government’s push for tourism infrastructure improvements (e.g., airports, resorts, and leisure developments) boosts the demand for rental properties, especially vacation homes, Airbnb-type rentals, and resorts.
Many new real estate projects in the Philippines are built with modern amenities, such as integrated shopping malls, parks, schools, and hospitals. This makes it an attractive option for both residents and investors.
