Manila property market set for growth

Despite the effects of the credit crunch that are sweeping through the global economy, Manila represents a good location for those interested in overseas property investment.

That is according to overseas property specialist David Stanley Redfern, which said that the Philippine capital was set to see a "massive increase" in mortgage lending.

Liam Bailey, head of international research for David Stanley Redfern, maintained that Manila's property market would see significant annual capital appreciation.

He explained that the city was showing similar economic growth to that experienced by Panama City and Phnom Penh, adding that it was also attracting similar new businesses and development.

Mr Bailey commented: "Based on other Asian capitals, now established markets like Bangkok, and those that began their growth cycles before Manila, like Phnom Penh, Cambodia, 25 per cent annual capital appreciation is easily achievable for Manila."

The metropolitan area of Manila is the second most populous in South-East Asia.

Overseas Property News posted on 17/04/2008 13:12:09