Property Investment - Manila
If you’re looking to invest in property in the Philippines then Manila is a good place to start. Manila is the capital city of the Philippines and the second largest city in the country with a population of around 1.7 million. Part of the national capital region that is known as Metro Manila, the city is situated on the eastern shore of Manila Bay and is one of the most densely populated cities in the world.
The economy of the city is diverse. It has an excellent harbour which serves as the main seaport of the country and has a varied manufacturing sector producing electronic goods, textiles, chemicals and many other products both for consumers and industrial related goods. One of the biggest growth industries in Manila and indeed the country as a whole is the Business Process Outsourcing industry or BPO which is attracting vast numbers of expatriates to the city as well as providing income for local Filipinos too. To cater for the increasing, and steadily more affluent, population the development of new condominiums continues apace and provides an excellent investment opportunity for those wishing to invest in real estate in the Philippines.
Manila is a truly cosmopolitan city and, for westerners who move to the region, it provides, perhaps, a more familiar way of life than other Asian capital cities do with a largely English speaking population and more familiar foods and culture. As well as a good standard of living, the city also boasts many cultural and leisure facilities including museums, restaurants and universities and Manila is the shopping hub of the country and has been named the best shopping destination in Asia.
The city is well serviced for transportation though it can be prone to traffic congestion. Manila has its own light railway system, known as the LRT and is served by many taxicabs, tricycles, and Pedicabs. One of the more famous forms of transport in the city is the ‘Jeepney’, which were originally converted army jeeps and are now used as public transport.
In terms of climate, Manila, along with the rest of the Philippines, lies within the tropics and, being so close to the equator, the temperature range through the year is small and rarely drops below 20 °C. Humidity levels are fairly high all year round and there are distinct wet and dry seasons in the calendar.
For people looking for the international big city vibe with close proximity to the mountains and beaches to get away from it all once in a while, then Manila is a great place to be. Great weather, a growing economy and friendly people are all helping to make Manila one of the fastest growing cities in Asia.