Philippine Daily Inquirer First Posted 01:19:00 09/28/2008
MANILA, Philippines- The late Greek tycoon Aristotle Onassis has Skorpios, an island on which he wooed and won the widow of an American president, Jackie Kennedy. Sir Richard Branson, the maverick owner of Virgin Atlantic, has Necker, a 74-acre hideaway among the British Virgin Islands.
The universal dream, apart from world peace and discovering a cure to all diseases, probably, would undoubtedly be to own one’s very own private island. Imagine that: a tropical Eden surrounded by the crystal-clear sea—or at least a substantial portion of one—all to yourself and to whosoever you want to share it with.
A whole stretch of golden sand to frolic and sink your toes in and—why not— to construct your Mediterranean or Bali inspired villa or a world class resort in?
Well, fret no more. Given that certain spots in the country are natural hotbeds for tourism, a perfectly situated beachfront could, indeed, incite you to build more than just sandcastles out front.
“The best location for property, and one of the best investments, right now especially, is in the Calamianes Group of Islands also dubbed as the Bahamas of the East,” says Louie Cruz and Shelly Mojica of the 12-year-old Mojica & Associates Property Consultants.
“This area is just growing. It’s just starting to develop. And the best, best time to buy property is now when there’s really nothing there yet, when the master plan for the area is just unraveling.”
The Calamianes Group of Islands, found at the northern tip of the country’s last frontier, Palawan, is home to some of the Philippines’ most mind-blowing natural treasures, including spectacular all-year-round sunsets, lagoons and breathtaking limestone cliffs, all set against the dazzling blue of sea and sky.
Known as a staunch ecotourism front, Palawan remains largely unexplored, with hundreds of islands making up its enigmatic splendor.
Coron
One such island, Coron, has been gaining publicity for more than just its incredible dive sites. It has long been a favorite haunt of Europeans seeking a blend of enchantment, peace and seclusion. Also, Coron along with the nearby island of Culion cradle some of the country’s most diverse marine and wildlife, nurturing unspoiled sea and coral beds present nowhere else in the Philippines.
With more airlines like Philippine Airlines, Cebu Pacific, Seair and Asian Spirit flying in daily, and inspired by growing tourist arrivals, Busuanga airport had recently been rebuilt as a bigger and more modern structure.
With dirt roads being paved and more infrastructure being put up (plans for an international airport are underway), it is clear that the surrounding islands are all set to boom. Already, famous British resort chain Banyan Tree has seen the area’s huge potential and is wasting no time in drafting architectural plans.
“With the trend of real estate, you can never go wrong with buying in an area that’s just on the verge of development,” Mojica continues, “It will always appreciate. You are buying land that you can build on someday, especially given the potential of the islands”
Cruz, who has made Coron his second home since leaving Boracay two years ago, sees the huge advantages of buying island rather than city property.
“In the city, developments just expand outwards or upwards, whereas for the islands, there is a saturation point, and there is a limited number of islands available. The property value of an island skyrockets faster than land in the city because of this scarcity,” he adds.
“To own a slice of paradise is a worldwide dream. And as for reselling value, there will always be a long queue of dreamers.”
Filipinos’ mistake
Cruz and Mojica point out the biggest mistake of Filipinos, property-wise, in Boracay, where most of the land is owned by foreigners.
“The Filipinos shield away from tax-declaration properties, which was mostly the type of land being sold there. But the foreigners knew these were just as good as titled land having the value of gold, so long as you pay the annual taxes. Boracay is one huge opportunity Filipinos have missed out on.”
Mojica, whose father was born in Cullion, Palawan, says price of commercial property in the Calamianes Islands (whether island, land in town proper, or exclusive beach which is a portion of an island) is dependent on size, terrain, distance to mainland, quality of beach.
Titled property starts from P400-P1,000 and above per square meter and tax dec property goes for lower; both sold by the hectare. Presently, beachfront properties in Boracay cost P47,000 per square meter.
Buying an island could be tricky given that there are all sorts of scammers out there. It’s always safer to deal with licensed and experienced realtors who can explain and assist in the more bureaucratic steps involved, especially in such an exclusive process.
And so the supreme fantasy is all set to become a reality: no man is an island, sure, but everybody wants to live or own one to bask under the glorious sun detached from the rest of the planet. This is the ultimate luxurious lifestyle. After all, not everyone listed in Forbes Magazine as the world’s 100 richest owns a private island.
Copyright 2008 Philippine Daily Inquirer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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