WITH the boom in residential development in the Philippines, a real estate firm is luring American retirees.
Maria Luisa Properties is hoping to tap the retirees’ population of the United States and other western countries for the “good for our economy,” said Mary Anne Aboitiz Arculli of Maria Luisa Properties.
Since “there are not so many people who can afford to buy a class A house and lot,” the company promoted its development abroad and got good responses both from foreigners and Filipinos” Arculli said.
“We have a lot of clients from abroad who want to stay and live here,” she said.
Arculli added that a lot of their buyers are foreign retirees who are leasing the homes to young local and foreign families staying in the country.
Cheaper
She added that foreigners choose to live in the country because the price for houses is a lot cheaper compared to that of England and the US, where homes are “ten times more expensive.”
Aside from having a competitive price, “our product is a lot better, it’s superior (among the others). I am confident that it will be their choice (because) it’s very secured here,” Arculli said.
She added that clients are very happy with the homes because they didn’t expect the country to produce good quality houses. Some are even buying more than one unit, she said.
Furthermore, to cater to the American taste and lifestyle, Maria Luisa established the Mahogany Place, which has “elegantly detailed Mediterranean-style homes,” she said. A unit in Mahogany Place costs about P18 million. (TEP)
