Overseas interest in property and real estate in the Philippines has contributed to the country being the most-searched property and investment destination in Southeast Asia, Dot Property Philippines can exclusively reveal.
This is according to searches conducted on one the U.K.’s leading overseas property websites last month.
During July the country underlined its position as one of the global rising stars of 2016, re-entering the Top 5 destinations on TheMoveChannel.com’s Top of The Props chart of the most-searched destinations.
This was the third time the Philippines has appeared in the Top 10 this year, and accounted for 4.29 percent of all searches during the month.
Ahead of Thailand
In comparison, Thailand – which was the perennial leader in Southeast Asia, accounted for just 0.55 percent of all searches and languished in 16th position globally. Just months ago the positions were reversed with Thailand more than 15 places or more ahead of the Philippines in terms of overseas interest on the British-based website.
Ray Withers, Chief Executive Officer of international property specialist Property Frontiers, which has recently brought the Portofino Ocean’s Edge resort (pictured) to the market, attributes the Philippines’ appeal to the country’s record-breaking tourism figures.
“Overseas interest and demand for high-end hotel accommodation in the Philippines has never been greater, and the country is racing to increase supply to keep up with demand.
“With high quality resorts required in key tourism spots, international investors are keen to buy in the Philippines now to be part of the wave of new construction required to service the increased level of visitors.
“Real estate firm JLL’s recent findings that the Asia-Pacific region is the most improved in the world for real estate transparency has boosted the trend of overseas interest for resort investments in the Philippines.”
Elsewhere, overseas investors are still in love with the USA, the monthly report revealed.
U.S. property stole the number one spot from Spain in July, becoming the most sought-after country on the property portal for the sixth time this year.
U.S. property accounted for 1 in 12 of all enquiries (8.1 percent) throughout July, climbing two places in the chart to overtake Spain.