Philippine Real Estate Festival 2010

July 29, 2010 - There is a growing demand for real estate locally which is expected to sustain the property industry, with developers catering to all socio-economic classes of home buyers.

These developers, together with corporate executives and diplomats from the international community, have agreed to speak and share their knowhow in real estate infrastructure development at the Philippine Real Estate Festival which is set for July 29-31, 2010, at the World Trade Center in Pasay City.

Leaders in the real estate industry will discuss the major challenges that developers face today and how they have been able to turn these challenges into opportunities.

Owning a home is everyone’s dream. Interest rates have remained steady and money continues to come from overseas Filipinos, local businessmen, and foreign investors. At least, a billion pesos in remittances from Filipinos living or working abroad flow in every month, a high percentage of which goes into buying new houses for their families. The Philippines has also emerged a strong second to India in global business outsourcing, an industry needing real property to house their businesses. There has been an inflow of foreign real estate investors as the market in the United States has turned from a buyers’ to a sellers’ market.

For those ready to invest in real estate, the following tips are offered: Make sure your home financing is in place and, in the case of buying real estate for rental, make sure you are able to leverage all of the tax benefits of depreciation and valid expenses. If you are looking to buying a property and making a fast sale and you are confident you can find a buyer, consider a mortgage with a very low interest rate. When you invest in real estate, money is made or lost behind the scenes; as an example, you may have turned a million-peso profit on the sale price after a month, but if you paid the lawyer’s fee, the contractor, and the real estate agent, you may have lost money on your deal.

With the sales activities in the last 12 months, the Philippines is on the crest of a property boom. For those who have the fortitude and patience and are ready to take action, now might be an excellent time to invest in real estate.

We congratulate the participants and organizers of the Philippine Real Estate Festival 2010 and wish them all the best and success in all their endeavors.Real Estate Market Reference Centersource: www.mb.com.ph