It is unsurprising that the Philippines' economic growth and real estate prices have appreciated considerably.
The Philippines, located in Southeast Asia, has long been recognized for its deep cultural heritage which sources its roots from both Eastern and Western origins. With a population of over 105 million and 300,000 square kilometers of land. The government’s goal of attracting 12m tourists per year by 2022 is still some way from being realised, but the emergence of new coastal and island destinations, combined with the growth of medical tourism, and cruise tourism.
Given this strong momentum in tourism, favorable demographics, an investment grade credit rating, and a massive infrastructure project underway, it is unsurprising that the Philippines' economic growth and real estate prices have appreciated considerably. The Real Residential Property Index increased by over 9% year-over-year in December 2019.