Makati City, Philippines (PressExposure) December 07, 2009 -- The leading Philippine Realty Firm â Umbrella foresaw a growth in the Philippine real estate [http://www.umbrellaonline.com] sector despite the recession hitting the US and UK.
Unlike the United States and United Kingdom which were affected due to subprime lending, the Philippines has been much more diligent in its lending procedures, surprisingly financing 75% of the value of Manila property.
That, combined with high interest rates has resulted in most transactions being cash purchases. Those transactions that went through the banks have enough collateral for the banks to fall back on even if the Philippine real estate market was to turn for the worst.
Beth Collingz, overseas marketing director of PLC Global, lead marketing partners for the Lancaster Brand of Condo Hotels in the Philippines, said that, âit is a whole new market out there, especially the Manila Real Estate market [http://www.umbrellaonline.com].â
Umbrella supported Collingz and said that âBuying Manila property like Condo Makati [http://www.umbrellaonline.com] here is easier than many people think. Even investment from overseas in tourism real estate is growing, especially in the resort areas of Cebu and Manila itself where rental potential is doing good as wellâ.
âTo maintain sales, it is really a simple matter of being organized, having a great development to market with global appeal, an excellent developer, focus, mind set, intelligence, time, enthusiasm and dedication,â Umbrella continued.
Furthermore, Umbrella believed that âit is the communication and advertising factor that will drive sales of Philippine real estate upwards through 2010 well into 2012 and beyondâ.
Visit Umbrella Online Real Estate at http://www.umbrellaonline.com/ [http://www.umbrellaonline.com] and learn endless possibilities in acquiring and selling apartments in Manila, luxury house Manila Units, Global city condo and other high-end residential and commercial property in Manila.