Real Estate Tips from the UK that work for the Philippines

After working in the United Kingdom real estate industry and serving in different capacities from estate agent to developer for a decade, I decided to go back to my home country and work there. Even though I wanted to change my location and scenery, I chose not to change my line of work. I wanted to see if I could adapt to a different environment while doing the same work I did in the UK.

There are some differences between working as a real estate agent in the UK and working as an agent in the Philippines. You do not need formal education or license to operate in the UK while you need a license to work in the Philippines. I, of course, did not have to go through that because of my years of experience in the UK.

Immediately I got to the Philippines; I started working on developing commercial spaces for lease and thanks to the savings I had accumulated over the years, I was able to start working immediately. Labour and land in the Philippines are cheap, so there is a high return on investment. In this article, I will be sharing Western Standards.

Hire an architect for the duration of the project

I realized that many buildings were developed under the supervision of an engineer who most likely is handling a lot of other projects. This leads to poor design and construction problems. This is usually done to reduce expenses, and the effects do not rear their heads until it is too late. By hiring an architect, however, you can make sure that there will be no issues during the construction of your building project and the quality of the building will be maintained.

Adopt Technology

I realized that to move ahead, one needs to be a little bit innovative, and that is just what I did. The internet in Philippine was quite reliable and fast, so in the office space that I built, I installed a conference room scheduler display. Even though I had to convince my would-be tenants about how it can help them, I was able to get rent prices above the average market prices.

Create a section for “bedspacers”

In the Philippines, bed spacers are those who rent out bed spaces to people for a particular period. It is quite a profitable business as a standard room can hold two bunk beds which will accommodate four people at a time. This can be of great help to low-income workers working around the location of the building.

Existing accommodations that I saw in the Philippines were nothing to write home about as the living conditions were so poor, but I realized that was only far too common. So, what did I do? I deviated from the norm and made my accommodations better and equipped with all necessary amenities to improve the living conditions.

Even though the real estate markets in the Philippines and UK are different, the Philippines could pick one or two tips for improving the standard of their real estate structures. These tips should help you get started if you are considering going into real estate in Philippines.