Best Cities to Invest in Rental Housing for Millennials
The Philippine real estate market shows promising growth and is getting more millennial-friendly. Young go-getters are out there looking for income opportunities in rental real estate, and you’re probably one of them.
Cities attract more renting occupants than anywhere else — but which cities can provide the best earning potential for you? Here are three best cities to invest in rental housing:
Being known as one of the safest and cleanest cities in the country, Davao City is more appealing than ever. The current president’s hometown is one of the fastest growing cities in the nation, with the economy growing an outstanding 9.5% in 2016.
An influx of residents is certainly expected as housing developments and high-end condominiums sprout across the city. The peaceful city is a popular retirement destination for Filipinos and expats. Apart from that, Davao’s BPO industry is continually growing. It is also a tourism hot spot and an educational center in Mindanao. There will be a ton of real estate investment opportunities in the city for its growth shows no sign of slowing down.
Read more: DAVAO by Filipino Homes
Cebu is the business hub in the central Philippines and real estate developments are spreading like wildfire. The island is one of the most strategic spots for commerce in the Philippines. Having a massive BPO and IT sector and booming tourism industry, the city has seen a large number of young professionals and tourists coming in. The educational sector is growing as well as universities in the city are expanding their campuses.
Investing in rental property in the Queen City of the South is potentially lucrative. Real estate in the adjacent cities are thriving as well and is ideal for younger investors. Properties in Mandaue and Lapu-Lapu, for example, are in a more conservative price range.
Read more: CEBU by Filipino Homes
Baguio is making a comeback and a spike in real estate value has been observed for the past year. Its rapidly expanding BPO industry is growing its workforce. Businesses are mushrooming throughout the city and its tourism scene is still as strong as before. This resulted in an increase in occupants and a more dynamic real estate market in the city.
There is a relatively high demand for rental property for different demographics, and millennials are investing in the city since properties are affordable for those who have a more modest budget.
Read more: BAGUIO by Filipino Homes
These are just a few of the best cities to invest in. If you need any help with real estate/property investments, feel free to contact us.
Lovette Jam is a founding member and blogger of Filipino Homes. She is a freelance digital media professional. With a Masters in Business Management degree and Hubspot certification on Inbound Marketing, she currently works as a social media manager, project manager, and digital consultant.