One of the most beautiful beaches in the world, with its pristine white sand and local flavour, it’s no surprise that the Boracay real estate market is on the rise.
Apart from the fun in the sun that can be had in this beautiful island paradise, many foreigners have chosen to remain permanently on the island and do some business. If you haven’t been to Boracay Island, this beach resort is nearly fully developed, which means that land appraisal can’t go anywhere but up.
Why invest in Boracay real estate?
First of all, there is a myriad of business opportunities here. Name a seaside business and you can bet your bottom dollar that there’s something like it in Boracay. If you invest in Boracay properties for sale, you can turn them into hotels, resorts, restaurants, bars, spas, gyms, dive shops, or even a golf course; the only limit is your imagination and business acumen.
Second, the island has become a multicultural paradise throughout the years. Try going around the island and you can hear foreigners and locals converse in fluent English, German, and even French. This is a big plus when it comes to making important business transactions, as the communication barrier has been all but eliminated.
Finally, and arguably the most important of all, both visitors to the island and the locals greatly respect the natural, serene ambiance of the place. Although Boracay is a popular party place and venue for major summer events and shows, the people here never forget that they owe everything the island is today to Mother Nature herself.
If you’re still not convinced, check out the records from the Provincial Tourism Operations Office (PTOO) of Aklan, which shows that the tourism receipts generated in 2014 alone amounted to Php27,066,835,756.80. In the same year, 682,832 foreigners, 745,266 domestics, and 44,254 Overseas Filipino Workers/Balikbayans arrived on the island, helping to achieve 11 positive growth months.
Boracay’s real estate benefited from the Philippines’s achievement of an average GDP annual growth of 5% between 2001 and 2013. It’s also driven by the country’s elite and foreign tourists; the former looking for standalone holiday homes designed to their specifications, and the latter looking for private residences with similar services and amenities to hotels. This trend has led to the continuous rise of beach villas and other premier private residences.
The Boracay Beach real estate market is definitely booming at the moment and it would be wise to put your money where the beach is and take advantage of it.
Have you been looking at Boracay properties for sale lately?
What do you think of the island’s investment potential?
Please share your opinions with us in the comments!