Rich Filipinos Are Boosting Beach Home Sales Near Manila

Prices of seaside properties near Manila are rising, as rich Filipinos look for second homes away from the Philippine capital region, broker Leechiu Property Consultants Inc. said.

Land values in gated resort communities in Batangas, a province south of Manila, increased between 20% and 46% in October from year ago, the broker said in a report on Friday. Non-listed transaction values for 400 to 800 square-meter lots go as high as 50 million pesos ($1.04 million).