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Why Is The Short Term Condo Rental Market In Manila Booming? Is it because of Tourism Or Business?

Is the recent boom in the short term condo rental market in Manila a result of tourism or is it as a result of the increase in business activity. We hope to examine this question in detail and discover whether hotels in Manila are losing business.

FOR IMMEDIATE RELEASE

 
 
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PRLog (Press Release) - Mar. 2, 2009 - The standard of accommodation available in Manila has definitely improved with some well thought out developments. Filipinos are very hospitable and friendly and this is reflected in the designs of some of the new developments that are springing up all over Manila. Landscaped grounds, clubhouses, cafe's with internet access, swimming pools and gymnasiums all seem to be included with the accommodation. It is perfectly natural for a Filipino to invest not just in their apartment but also to invest in the surroundings. This desire to share facilities with their neighbours has resulted in a new way of life for the modern, middle class Filipino. They can now live in what can be best be described as a Resort Community which offers not just secure and comfortable accommodation but also a pleasant atmosphere and lots of activities to enjoy and share with your family or neighbours.

What may seem a natural way of life for the Filipino appears to some tourists as a vacation resort. The atmosphere and facilities are so welcoming that tourists visiting these Resort Communities think that it is a hotel when in fact it is just a residential village. Word has spread about these Resort Communities and a small industry has grown out of it renting out these apartments on a short term basis.

Initially it was just the Overseas Filipino Worker who was renting these apartments as they
had been working hard overseas and wanted to spend their time off relaxing with their families in pleasant surroundings and have plenty of space for the kids to run around in a secure environment. Instead of renting a hotel room in Manila which is effectively a studio apartment with no cooking facilities, the OFW's realised they could rent a two bedroom apartment with cooking facilities and access to resort amenities at just a fraction of the cost of the Hotels in Manila.

Now, foreign businessmen have begun renting these apartments on a long term basis and it seems that word is spreading amongst the expat community about the great atmosphere and facilities on offer in these Resort Communities. The most famous developer of these communities is called DMCI homes and they are a well respected developer in the Philippines having previously built hospitals, airports, even the Sultan of Brunei's Palace before their venture into the Residential Resort Community business.

So, it seems that  the recent boom in short term condo rentals in Manila is as a result of both tourists and businessmen. It also seems that hotels in Manila are not being affected as occupancy rates are at their best levels for years.

Is it just a matter of time before Manila is crowned as Asias premier tourist destination?

http://www.pearlslettingagency.com

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Resort condominiums for short term or long term rent in Manila, Philippines. We have studio, one bedroom and two bedroom apartments all fitted to a modern, western standard. Featuring air-con, cable, hot water, internet, 24hr security and resort amenities

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http://www.prlog.org/10191599/1

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Contact Email:
***@yahoo.com Email Verified
Source:Pearls Letting Agency
Phone:+63 920 212 4897
City/Town:Manila - Metro Manila - Philippines
Industry:Rent, Condo
Tags:rent, condo, manila, condominium, philippines, makati, vacation, apartment, tourist
Last Updated:May 15, 2009
Shortcut:prlog.org/10191599
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