Philippines The Growing Economy

The Philippines is considered to be a fast growing economy in the world achieving already the 39th position in the world. The country a few decades ago was an ordinary farming community which has now changed over to a burgeoning industrial economy targeting high growth rate and having a meaningful relationship with the United States of America. The country is mainly concentrating in the production and service sectors exporting electronics goods, semiconductors, copper and petroleum products, garments and fruits. Its major partners in the trading activities include USA, Korea, Japan, China, Singapore, Thailand etc. The currency of the country is called Philippines Peso. Many agents like Citta Italia house and lot are doing housing business to take advantage of the developing economy.

Philippines The Growing Economy

The Commercial Activities

The Philippines government is encouraging all commercial entrepreneurs to carry out their business activities in the country so that the generation of the wealth will be beneficial to the populace. The most lucrative investment at the present time is noticed in the infrastructure segment which has found many foreign investors t take active interest. Many towns are coming up in place of the farming communities throughout the country. The Alabang city in Muntinlupa located in the southern side of the Metro Manila is such a city which is the choice of most of the foreigners who are desiring to settle down in the Philippines. Many Filipinos are working in the foreign countries who are earning a lot. These community of people also wants to invest money in their native country with two things in mind. The first is to earn a good amount of return from their investment which otherwise would have been subjected to the ordinary bank rates of interests. The second is to keep an option alive so that they may settle down in their native country after completing their tenure in the foreign countries so that they may pass their retirement time in leisure amidst the nature of their country of origin. With these prospects in hand many estate agents such as Citta Italia house and lot are doing their business of providing house accommodations to the intending parties.

The Residential Complex

As per the local laws no foreigners are allowed to purchase any plot in the country of Philippines. The foreigners are only allowed to own flats and condominiums. With the rapid growth of the economy many foreigners are now getting interested with the country which led to the demand of the real estate business in the towns and suburbs. The real estate manufacturers are doing a lucrative business by investing in many such projects transforming the farm lands into burgeoning commercial and residential complexes. The Alabang city is a prime example of such complex which now attracts the imaginations of famous people of Philippines. Even the foreigners are interested to own property in Alabang seeing the big commercial business houses coming up in the city. Accordingly residential complexes have been constructed to accommodate the residents and earning huge sums out of the dealing. Reputed estate agents such as Citta Italia house and lot are doing lots of jobs in order to make the good accommodations available to the potential people around the world. In spite of the fact that the authority in charge of overseeing the construction activities is looking after the jobs of proper use of construction equipments, still the purchaser should check that the equipments used are of standard make so that the equipments last long. You should also check the location of the house before buying it. The important points that should be checked are nearness to the marketing complexes, schools, clubs, stations and hospitals.