Real estate sector banks on long-staying tourists
Posted on October 05, 2011 08:34:01 PM
THE LOCAL real estate sector is looking towards the Philippines’ tourism potential to boost property sales particularly to retirees, an industry group said.
The above-fifty demographic, the so-called baby boomers, could prove to be a valuable market for the industry if the country’s tourism edge is marketed, Chamber of Real Estate and Builders’ Association (CREBA) said in a statement.
“[The] tropical climate makes the Philippines an ideal retirement place where tourists can get the most value of their hard-earned savings,” CREBA, an umbrella group founded in 1973, said.
The recent real estate boom and new leadership at the Tourism department are likely to boost the country’s attractiveness to long-staying visitors, it added.
So far, visitor arrivals to the Philippines rose by more than a tenth in the first half of 2011 from a year ago, with East Asia remaining the country’s top tourist market, data from the Department of Tourism showed.
A total of 1.91 million visitors were recorded in the first six months of the year, up by 12.03% from last year’s 1.71 million.
A growing number of visitors to the country, particularly balikbayans, are now expressing interest in land and residential ownership, CREBA claimed.
“By partnering with our growth and development, the visitors are saying that the Philippines isn’t only an interesting tourist destination but a place for realizing their retirement options,” CREBA added.
The country’s immense real estate potential to tap incoming tourists, balikbayans, and overseas Filipinos will be the theme of CREBA’s two-day annual convention, which kicks off today at the Marriott Hotel in Pasay City.
Vice-President Jejomar C. Binay, who also sits as the chairman of the Housing and Urban Development Coordinating Council, is expected to deliver the convention’s keynote address. -- Franz Jonathan G. de la Fuente
“[The] tropical climate makes the Philippines an ideal retirement place where tourists can get the most value of their hard-earned savings,” CREBA, an umbrella group founded in 1973, said.
The recent real estate boom and new leadership at the Tourism department are likely to boost the country’s attractiveness to long-staying visitors, it added.
So far, visitor arrivals to the Philippines rose by more than a tenth in the first half of 2011 from a year ago, with East Asia remaining the country’s top tourist market, data from the Department of Tourism showed.
A total of 1.91 million visitors were recorded in the first six months of the year, up by 12.03% from last year’s 1.71 million.
A growing number of visitors to the country, particularly balikbayans, are now expressing interest in land and residential ownership, CREBA claimed.
“By partnering with our growth and development, the visitors are saying that the Philippines isn’t only an interesting tourist destination but a place for realizing their retirement options,” CREBA added.
The country’s immense real estate potential to tap incoming tourists, balikbayans, and overseas Filipinos will be the theme of CREBA’s two-day annual convention, which kicks off today at the Marriott Hotel in Pasay City.
Vice-President Jejomar C. Binay, who also sits as the chairman of the Housing and Urban Development Coordinating Council, is expected to deliver the convention’s keynote address. -- Franz Jonathan G. de la Fuente
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