Expat’s POV: Choosing The Best Location For A Rental Property In The Philippines
It’s easy to fall in love with the Philippines. Traveling in a country abundant with beautiful spots will probably be first in anyone’s mind on that statement but as for the letting market and real estate, reasons mainly include the countless advantages of living here. The country is strategically situated in Southeast Asia, only a few hours away by air to and from the busiest capitals in the said continent. Another thing that attracts expatriates is its low cost of living. Terms are also more flexible compared to some neighboring countries which makes it ideal for those who are eyeing for short or long-term stays. It’s truly a window of opportunity for those who dream of working remotely abroad while still getting a bang for their buck.
There are many great locations within the country to choose from which will suit you and your lifestyle best but of course, that still relies on many factors. Here are some of the things to consider when strategically deciding for a location:
1. Proximity to Places of Interest or Needs
One of the first points to consider is the distance of the property to commercial areas or other primary places of interests. This is also a main deciding factor for other professionals or businessmen who are keen in finding investments. Young professionals would opt for a lively and animated urban location such as Bonifacio Global City, Makati City, Pasig City, or around the Quezon City area. These are also the people who’d most likely go for a location near a mass transit network. Some families (especially the big and extended ones), on the other hand, would love to live in the suburbs or somewhere near Tagaytay or Antipolo to find seclusion. Others choose properties near international schools for their children. However, the price will come in between given how advantageous the location can get based on its proximity to the said settings.
The culture of the tenants also play a big role in making the decision. As an expat, you would want an area where many establishments such as restaurants or supermarkets cater to you and provide you a sense of belongingness, a location where you will feel at home even though you are miles away from your family. Many Westerners love being close to social hangouts. Some Asians look for areas with many business opportunities or residential communities filled with homes designed and inspired by the way they have been living.
3. Cost of Living
Locations in the Philippines for the properties to rent vary in terms of the cost of living. Areas near the central business districts, especially the high-end and glitzy ones, can ask a lot from the tenants financially. There are some areas where there are no (or even just small) nearby wet markets for cheaper buys and essentials. It’s best to check out a place that works for you best on this factor.
4. Parking and Security
As a potential tenant, checking the parking and security of the location is also important and this is not something to skimp on. You can run a search for locations with low crime rates and indexes for you and/or your family’s safety. You can also pick a project or developer known with good security features.