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 Philippines has been a hotspot in international tourism with levels growing by 7.7% in 2018 and 11.0% in 2017.
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.