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Find the latest rental rates on the Philippines property market
With more than 7,000 islands, the Philippines is one of the largest archipelagic countries in the world. Situated in Southeast Asia in the Western Pacific Ocean, the islands are classified into three main geographical areas: Luzon, Mindanao, and Visayas. Due to its size, the Philippines is a culturally diverse country with rich biodiversity. With its high percentage of flora and fauna endemism, the country is considered as one of the world’s mega biodiversity countries.
In recent years, the Philippines has gained popularity among international tourists and expats due to its diverse landscape, low cost of living, and job opportunities. In 2019, the country attracted a record high of 8.2 million international visitors. From the buzzing cities in Metro Manila to the clear-turquoise water in Palawan, the country has something for everyone. The Philippines is particularly well known for its beautiful beaches, delicious fruits, and the large shopping malls.
There are numerous types of condos for rent in the Philippines to fit any budget and preference. Renters can choose a studio room, one to three-bedroom, loft, split-level, and penthouses. The smallest and most affordable type is a studio room, which has one room that serves as the dining room, kitchen, living room, and bedroom. Some studio rooms, particularly in Metro Manila, can be as small as 16 small square meters. Penthouses are the largest and most exclusive type and they are located on top of a condo building and usually offer more space and more privacy and are equipped with luxury features, which is why they are usually a lot more expensive than other types of property.
Renters can also choose between high-rise and low-rise condos. High-rise condos in the country are mostly located within central business districts and offer beautiful city views, while low-rise condos can be found in many parts of the country and have more spacious rooms since it has a smaller number of units. Both high-rise and low-rise condos in the Philippines are usually equipped with additional amenities, such as swimming pools, gyms, kid’s playgrounds, and 24-hour securities.
The official currency used in the Philippines is the Philippine Peso, and the exchange rate from US$1 is approximately ₱49.1. In some tourist areas, US dollars may be accepted to pay for services and goods. However, since ATMs that accept international cards are only available in major cities, make sure to stock up on cash before traveling to smaller towns.
The standard of living in the Philippines has risen significantly in the past couple of decades, but the cost of living is relatively affordable. Most foreigners coming from western countries can live comfortably on very little.
The official language in the Philippines is Filipino and English. The country is the fifths largest English-speaking country behind the United States, India, Pakistan, and the United Kingdom, which is why many tourists and foreigners find it easy to travel around the country.
The climate in the country can be slightly different in each region, but the country generally experiences a tropical climate with two seasons: rainy and dry season. The rainy season (from June to November) is prone to typhoons, while the dry season (from December to May) can be very hot, with temperatures soaring as high as 40°C.
For foreigners to stay in the Philippines, Long Stay Visitor Visa is required. This type of visa has a maximum length of 16 months but has to be reapplied for up to 6 months at a time.