Property Sector Drawing Keen Interest of Retirement Haven Seekers

Metro Tagaytay is one of the country’s leading retirement destinations, according to commercial real estate consultancy firm Jones Lang LaSalle (JLL), and real estate companies are about to cash in on this opportunity.

Tagaytay Living 03 960x345pxReal estate companies in the Philippines may find growth opportunities in the tourism market, as the country becomes a haven for foreign retirees, a consultancy firm said on Thursday.

“As the ageing population increases, the need for specialization on the segment also intensifies,” Jones Lang LaSalle regional director Lindsay Orr said during the company’s Midyear Market Report.

The number of older people in less developed countries is expected to increase 140 percent between 2006 and 2030, compared with the 51 percent increase forecast in developed countries.

The low cost of living, tropical climate, natural attractions, expatriate-friendly destinations, English-speaking environment and special resident retiree’s visa provision in the Philippines make the country a favored retirement destination for foreigners, said Orr.

JLL listed Baguio, Cebu, Davao, Subic, Tagaytay, Dumaguete and Clark as the leading retirement destinations in the country. In Metro Manila, Makati is said to be the first choice of foreign retirees.

(Reported by Keith Richard D. Mariano for GMA News)

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