So my little uncrowded surf getaway island is now not so uncrowded. I have been surfing this place for around 10 years often just with my friend with a boat driver watching in the channel, seems now it's never going to be the same, turns out buying land on this island is probably the best investment I will ever make. Since March this year land prices have doubled, The reason prices have doubled so quickly is because the airport runway has been extended finished and in use from the end of February 2017 allowing planes to now fly directly to the island from both Cebu and Manila. Previously Cebu Pacific from Cebu was the only way to fly in. Skyjet now Flys direct from Manila brining in what seems like every famous person in the philippines, with 1.5hr flights from Manila it's access has opened up massively, people from Manila now have the opportunity to visit for a weekend and they have Money to spend. Watching the place grow over the past 10 years has been interesting and as a surfer very disappointing, but this island is only just getting started. Next plan is an international airport, yes yes yes for my land values but geez the waves are going to get super crowded. Here is a wave I scored in the middle of October this year and here are some infrastructure plans for the near future, hope this doesn't happen More flights are coming in Siargao ~ Siargao Islands, Philippines
Look at that right hand reefy! Sign me up! Have you ever felt unsafe in the Philippines? Heard stories of innocent bystanders caught in drug war crossfire etc
Cool post Darren, I love to hear about quirky overseas investments. What does a fairly standard block of land go for over there?
I bought some land a house at Clarke in 1991. When you would get of the bus loaded with people, chickens and pigs at Dau and have to wait half an hour and hope a trike came along eventually you would hear a distance buzz and a few minutes later the trike would appear down the dusty road and there were lots of nippa huts.You could buy houses then that would cost $3 million in Brighton now, for $5K. With in 5 years more house became bigger, and made with solid wood and cement construction, in a few more years they became double storey in about 2 more years they became 4 storey, then larger. The traffic became so bad you cant walk across the road and it takes 20 minutes to go where it used to take seconds. Property prices have about doubled there every year since I bought. Just amazing how those places change and you have to see it to believe how it changes, and be so unrecognizable in 2 years. Every 2 years seems to be 1 or 2 new big shopping malls built. I also looked at buying in Davao at the time, which has also done very well. And later Puerto Gallera which has done well too. I was also telling people to buy near airports in the Philippines on Sommersoft. and laugh when I read of people with millions of $ in assets talking about not having enough to retire on.
Im filippino. I would not buy land in the Philippines They're dodgy and corrupt. My family have plenty land in the Philippines which we're trying to sell. The issue is not BUYING the land/property, it's rather MAINTAINING and SELLING the land/property. As well as that, it's all in Peso. With the same amount of money, I'd invest in AUD. With that being said, my cousin use to live in Australia and moved to the Philippines. He is a property developer and he's doing well. But, the above still apply; dodgy, corrupt and as a property developer competing against other developers, unsafe. He has his own full time body guard. With that being said, I'd open up business there that requires some type of workforce. Ei; Club. The only thing is I'd need to be on hand all the time for the above reasons.
A Club in the Philippines is the worst investment you could make. I have seen countless people get burnt.The old joke about how to make a small fortune is very true .You start with a large one. You buy a club for your ego and lifestyle. Clubs change hands regularly and have knew " owners/ " every few years for a reason. You also need to pay protection money and you could easily find yourself rotting in jail. For a business in the PI you want as minimal workforce as possible to reduce the chances of being diddled and to reduce headaches. You can use $A in PI it is preferred you get a much better rate than through the bank. The problem with Investing in PI is poor leverage. It is hard if not impossible to get a loan. If you do get a loan it may be high interest , or it may only be for rights to the land and you aren't getting what you think. Maintainence is cheap in the PI it is bugger all. Don't even have to pay rates
It's not what your business is, but HOW you run it. Running a business in the Philippines is a lot different to here in Australia. I've had businesses in both countries. I've seen countless people get burnt when running a business here in Australia too.
Interesting topic, the owner of the post office i work at is Filipino, and she has property assets there as well as here, done very well here and she was able to build an office building for about the price of a standard Norlane house a few years ago! My girlfriend is also a Filipina and i am hoping to get her here in the next year, indeed a lot of the reason that is even a reality is being able to refinance my significant debts with the capital growth of my place in Norlane, particularly in the last couple of years. My GF has a fairly large family plot in Albay province, some also live in Cavite and Antipolo City. One thing though the Philippines has which seems in much greater supply than in Australia, is just having so many beautiful women....of which many are relatives of my GF anyway!! Maybe upon retirement having a place there to spend some time might be a nice thing to have. There's a small 80m plot of land in Tanza Cavite that was about $7K.....but i might just wait until we're far more established. But it's a country with a lot of people, not much land and it's increasing it's wealth, although of course not evenly. But with places like Global City, Greenbelt and many others in the capital, those land values are extremely expensive now.
I've dated many filo girls in the past. Needless to say, I now avoid it like the plaque. LOL In the Philippines, if you know the right people your business/investments will go a long way for you.
Have never had a date with a girl at all until i met my Filo GF over 10 years ago, but it's been a long distance courtship. A bloke like me just has to try what might work.
Things happen for a reason @Dave3214. For your relationship to last 10 years over long distance just proves how strong your bond is; Cherish it. It sounds special.
I went there first time in 2016.. I fell in love. I did my first surfing in there and I love the fact that you can enjoy Siargao even if you are not a surfer. I am filipina my self. learning property investing . I am torn between purchasing my first property here in AU or invest the money in the Philippines. I heard a lot of successful Westerners' with filipina partner who invest in the Phils. those typical resorts or diving resorts. But in all honesty, I dont follow Philippines market trends ( even the news) so zero clue on how to invest or where to invest. Perhaps, I should get dual - citizen first hey? so i can acquire land again lolz
@Reinor All I know is the changes in Siargao seem to be happening daily, consistently more people coming in with more money buying any land they can get there hands on. Flights to siargao have gone from 3 per week from Cebu in 2009, now 22 per week from Manila and cebu. In December a movie called Siargao will be released in cinemas around the philippines and I am sure it will attract more visitors to the island. There is also a new hospital proposal and plenty of New roads and road widening happening already. Construction of the bridge from catangnan to cabitoonan will open the island right up is now back in full swing and will be completed in the next 2 years. At the moment I am building 2 one bedroom units costing around 30k finished and expect from 12 to $1500 per month total rent for both units. I did plan on buying in Brisbane but decided to invest in Siargao because it is more inline with my personal goals.
Never felt unsafe in the 10 years travelling to surf there, not to say you can trust everyone there especially with the amount of people coming and going now. But geez if you score some swell at the right time the place will blow your mind, some seriously long tube time if you know where to go. Quality waves around every corner
