15/07/2022
The most popular vacation destination in the Philippines, Boracay suddenly finds itself among the top of choice places to invest on a home as well
Named one of the world’s best island getaways by Travel + Leisure magazine, the best Asian Beach Destination in TripAdvisor’s Travelers’ Choice Awards for the last four years, and one of the Top Island Destinations of the World for 2015 by the prestigious Condé Nast Traveler, Boracay is arguably the most recognizable vacation destination in the Philippines. With the continued rise in popularity of this island in Aklan, it is now also being seen as more than a tropical getaway.
Although tourism remains the biggest draw of Boracay, which encourages companies in the hospitality and tourism industries to continue investing in the island, interest in residential properties has also risen. More and more property seekers, both local property buyers and foreign retirees, are looking to permanently live on the island. Indeed, given its year-round pleasant climate, buoyant real estate market, and record-number foreign visitors, to say that Boracay is fast becoming a top investment option for both local and international investors is an understatement.
Boracay’s Increasing Accessibility
Along with its idyllic landscape and the laid-back, tropical lifestyle it promotes, one of the residential pulls to Boracay in recent months has been the continued development of a new airport in Caticlan. Slated to be operational in 2016, it will reportedly offer 50-minute flights from Manila, two-hour hour flights from Hong Kong, and four-hour flights from Singapore, significantly easing coming to and from the island.
For the longest time, home investors have wanted to explore the options of establishing residence in one of the world’s most popular islands. The increase in accessibility that will result from the opening of the new airport provides the opportunity to better explore those options. The island, after all, is one that is not yet highly urbanized, which means access to some of its areas is still limited.
Future Boracay Developments to Complement the Island’s Idyllic Setting
The fact that Boracay is both a popular tourism hotspot and an island teeming with natural beauty has not been lost on developers, who have embarked on real estate projects to meet the island’s increasing residential demand. Boracay Newcoast, a prestigious development from Global Estate Resorts Inc., a subsidiary of Megaworld Corp., is one such project that has raised the profile of Boracay on the residential front.
