Aklan, Boracay Island, Philippines
Boracay Realty: As with any industry, there are periodic slumps and dips in terms of revenue that are part of doing business. Over the last few years, Boracay realty has had fairly bountiful gains despite the many intricacies and worries which has plagued the industry. Nevertheless, people looking to invest in some Boracay property should consider the current local and even international economic situation before thinking about buying land or other property on this tropical island paradise.
Back in 2006 and 2007, Boracay Realty on this lush tropical paradise was in full swing. There was a rise in the number of individuals and companies who were all based in the many part of the 7 kilometer business district of Boracay.
Subsequently, there are numerous developments for buyers to select from; condo units, housing near Boracay’s only golf course and country club, resorts for sale, as well as many other forms of real estate. Lots of investors bought many pieces of land for very reasonable prices, some of which were prime lots with great views of the island, its beaches and the sea beyond it.
Boracay realty has the potential to be very challenging for any person to start off with since there are already many real estate agents who have used a lot of money, time and work advertising and promoting the properties they are selling, even doing extravagant TV ads and video advertisements and still finding it hard to sell significant numbers of real estate due to the current economical trend. And that is not the sole predicament of Boracay realty. Lack of spending in the national economy and the worldwide downturn has also affected sales. Aside from that, Boracay realty has also had concerns about sales because of the legal conditions of the pieces of land being sold on the island itself.
More modern though complex land guidelines and regulations combined with the general shortage of definite laws which deal with the owning of land is seriously affecting Boracay realty. Although the new regulations are not the only factor in the lack of sales, there are now many questionable land developers who are seeking to get a piece of the market as well. Some land companies have not fulfilled their promises to the investors due to their lack of financing to even initiate and complete the development has caused many people to be concerned, specifically those investing from offshore.
Boracay realty is definitely proving to be a developing industry which has its own fair share of trials and tribulations, much like any business nowadays.
Apart from the concerns with regards to land ownership and the absence of real estate titles for some parcels of land, some media accounts being disseminated not just in this part of the world, but all over the world as well, is about the dangers of land grabbing activities done by unscrupulous individuals against native inhabitants and their rights as traditional land owners. Completely clear and distinct land regulations are not being enforced right now, causing much concern and aggravation to many investors who have bought land or housing units and even hotels or resorts on Boracay. Many of the foreign nationals who visit the island only want to spend a nice and quiet vacation or holiday and not have to deal with the problems regarding Boracay realty at the present time. Hopefully though, things will get better with new laws and more stringent enforcement of those laws.