They always say that real estate is a prime piece of investment. And it is, though it is among the most expensive.
Of course after the housing bubble in 2008 that resulted in the US recession (effects of which the global economy is still reeling from), people have been cautious in investing in real estate. But interestingly, the real estate industry in the Philippines is now experiencing continuous growth. There is increasing demand for condominiums and large real estate developers attribute it to the fact that at least three million people commute from nearby provinces to Metro Manila daily.
Still, an article recently published in Time attest that real estate remains to be among the safest investments as gold is now "14% off its peak and fading" while stocks are fluctuating (late last year was a good buying time but not now) and bank deposits deemed unsafe - with really low returns that cannot keep up w/ the inflation. I am as well interested in mutual funds and the like and may dabble in it once in a while.
But I think what they do not consider is that these people choose to commute from outside Metro Manila because housing costs is cheaper there. This is also the reason why many subdvisions are being developed in Southern Tagalog and other nearby regions. Add the fact that many Filipinos are still conservative, opting to buy house and lots instead of condominiums that are in essence shared investments with the developer and the other owners.