Buy a flat in Philippines? Air ticket is free

A real estate company representing major property developers in the Philippines is offering free air tickets to and from Manila to the overseas Filipino workers and non-citizen investors from the Gulf countries if they book one of the two-bedroom apartments it is selling.

The realtor is also offering to lease and manage the apartments in new high rise buildings bought by overseas Filipinos or foreigners. .

Speaking to Emirates 24|7, Rob Dela Vega, CEO of Better Life Real Estate, said: “We are running a month-long promotion among the overseas Filipino community. Any one buying a two-bed room apartment will get a return air ticket to visit the Philippines and check the property they bought. After making a 20 per cent down payment, they can take possession of the house and repay the remainder in small installments.”

The realtor has lined up a few developers and home finance firms to guide overseas Filipinos and other investors from the Gulf.

He said the Philippines property market is rated as the fourth best in the region after Japan, China (Shanghai) and Malaysia. The apartments his company is offering range in price from 1.2 million to eight million pesos.

“If the customer is buying a studio flat, we will give him a one-way air ticket. We can also assist with a visit visa to the Philippines if the buyer is non-Filipino,” he said, adding that the company is selling houses in three high-rise towers coming up in the country’s capital region of Metro Manila.

“We have done a detailed feasibility study of property demand from the overseas Filipino community in the UAE and Saudi Arabia. After the recent floods and earthquakes, there is a rise in demand for flood and earthquake proof homes in the Philippines. There are about 700,000 OFWs in the UAE and two million in Saudi Arabia, many of whom are looking for affordable houses,” said Vega.

"Foreigners who cannot visit the country frequently can have their apartments leased by us to clients and we will give them a regular rental income," he added.

Better Real Estate Company is present in the International Property Show at the Dubai World Trade Centre. It is selling apartments in Robinson Residences in the Radiance Manila Bay, which has twin towers on an 8,000 sq metre plot of land.

The apartments are of 40 or 80 square metres in area and the towers offer other amenities like 50-metre lap pool, garden walk, kiddie pool, sky longue, meditation and exercise longue, wi-fi, fitness and wellness centre, spa, sauna and massage rooms, game and vodka room and a private theatre.

Property developers are also wooing OFWs to apartment projects in and around Manila.

Century Properties Group is developing the Trump Tower Manila, a 6 billion peso, 250-unit residential skyscraper that will be one of the tallest buildings in the Philippines. The tower will be located at Century City, a 3.4-hectare development on Kalayaan Avenue in Makati. The ‘ultra-luxury’ development will have some features of Trump-owned developments in New York.

 “Our target is middle class Filipinos, especially OFWs, and foreigners,” said another property agent from Manila.

“Many of the OFWs work as nurses, engineers, waitresses etc. Since they have a stable income, they can purchase the houses and pay in three years or so, depending on what they buy,” Rob Dela Vega said, adding that the property market in the Philippines is stable.

 “We are selling homes in three towers. A 42-storey tower, is almost ready and the smallest one has nine floors. Foreigners are allowed to buy apartments in high-rise buildings and towers. The biggest twin tower in Manila, with 80 floors, is also construction,” added Vega.

Ayala Land Inc. (ALI), a Manila property firm, is also present in the property exhibition targeting the OFWs and foreign investors. An ALI official said the company is planning to launch 78 new projects with an estimated value of P142 billion. He said ALI will be launching 30,000 units across all residential brands in 2014. Last year, ALI's five residential brands launched 28,482 units worth P108 billion. It is offering units in ‘Garden Towers’ and ‘East Gallery Place’, two high-rise towers in Manila. 

In Magnolia Residences, a four-tower mixed-use development in New Manila, offers shopping and entertainment at the door step. Three towers in the complex offer one bedroom (36 square metres) and two bedroom apartments (78 sq mtrs). SM Development Corporation is offering apartments in Jaaz Residences and Bel Air  in Makati.

According to Rob Dela Vega, many foreigners, especially GCC nationals, are keen buyers of property in Manila. “Foreigners are allowed to own apartments in these high rise buildings. We have sold property to Saudi customers who are married to Filipinos. Some are buying homes as gifts to their girlfriends,” he added.

SMC Properties, part of SM Corporation, which has developed stores, malls, banks, hotels and leisure facilities in the Philippines, has new properties located across Metro Manila, especially in the central business district of Makati, Ortigas, Quezon City, Pasy and Paranaque.
Jaaz Residences, located at the corner of Nicanor Garcia Street and Metropolitan Avenue in Bel Air, consists of towers named ‘Violin’, ‘Cello’, ‘Piano’ and ‘Clarinet’.

One bedroom apartments with and without balcony (26.81 sq mtrs and 31.66 sq mtrs), and bigger unit of 53.62 sq mtrs with two bedrooms, living and dining area, kitchen, toilet and balconies are also available.
 

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