Property investment has been a ticket to wealth for many Filipinos. For one thing, it is one of the most solid and stable assets to put your money in. For another, it can help you create a new source of income, and it has the potential for high capital gain. So, if you are looking to diversity your investment portfolio this year, consider property – particularly a real estate investment in Baguio City.
1. It is the summer capital of the Philippines
Sitting at an altitude of approximately 1,540 meters in the tropical pine forest eco-region of Luzon, the city enjoys a cool temperature anytime of the year. This makes it a favorite destination of locals, tourists and holidaymakers who want to escape the summer heat in Manila and other neighboring cities and provinces.
Many Baguio businesses, particularly those who are in the hotel and accommodation sector, earn their income mainly from tourism. Currently, there are over 80 hotels and inns catering to the growing number of tourists flocking to the city every year. Take advantage of this opportunity by owning a house and lot in Baguio city that you can conveniently use during your holiday and rent out when you are away.
2. Colleges and universities are expanding
Last 2010, the real estate market has started the shift towards the student market. Affordable packages for condominiums in Baguio city were made available, targeting students who are planning to migrate and work in the city after graduation. The shift was driven by growth and expansion of many of the city's colleges and universities, which between 2008 and 2009 recorded a total of 65,292 student admissions (in six major universities). That is without counting the 75,520 students who enrolled in grade school and high school in the same period and who eventually turned to college in the following years.
Today, the trend remains the same. Baguio's colleges and universities are continuously seeing a rise in student admission, offering residential property investors an opportunity to earn a stable and consistent income from rent.
3. The city offers numerous points of interest
Business aside, Baguio makes a great place to build a second home in. For one thing, the city is rich in history, culture, and natural attractions. There's always something for everyone here.
For the nature lovers, there's the Mount Santo Tomas, the highest peak in the entire Baguio. It offers visitors a panoramic view of the whole city and the La Union province. There's also the very accessible Tablay's Asin Hot Spring, where you can dip into their outdoor pool any time and enjoy complete relaxation.
Attractions abound too for the culture and history enthusiasts. The Easter Weaving Room, which was founded in 1909 and still in operation today, allows you to see master weavers in action – and even try your hand on weaving. Baguio-Mountain Province Museum will take you back in time with its wonderful and intriguing display of relics and artifacts from mountain provinces. Not to miss is the Ifugao Woodcarves Villages where you can feast your eyes on the many beautiful arts and crafts that are meticulously hand carved by some of the world's best carvers.
Whether you are planning to buy a family home or a rental property, real estate investment in the Philippines' summer capital is definitely worth it. So, call your trusted real estate agents/brokers in Baguio City now and get started!