Boracay Closed to Tourism for 6 Months

Boracay in central Philippines and one of the most famous and well visited holiday spots in the country will be closed to tourism for at least the next 6 months.

With well over 2 million visitors in 2017 in an area of just 4 square km’s, Boracay has been getting increasingly crowded and infrastructure strained over the past few years. For those who’ve been there recently it’s, frankly, starting to resemble the Aussie Bogans’ playground of Kuta in Bali (The Ugly Australian is such a blight on our beautiful island neighbour that even Australians pause before booking a holiday there.”). To be fair, the issues in Boracay are related more to genuine infrastructure capacity, rather than the Aussie tendency to foul their own nests. But I digress…………

President Duterte issued the order in February (“I’ll give you six months……Clean the goddamn thing!”). Residents will be allowed to come and go, but both local and foreign tourists will be blocked at the mainland ferry port starting April 26. The nearby airports of Caticlan and Kalibo will continue operating as they are located on the mainland, but Philippine Airlines and Cebu Pacific Air have both confirmed they will offer refunds and rebooking.

Buying property in Singapore as a foreigner

Usual caveats!!!!

With an international reputation as a hustling hub of industry, commerce and services, Singapore is a popular market for many expats considering property investments in the Asian region. There are low barriers of entry for foreign buyers, relative to other neighbouring jurisdictions, and the area exhibits a steady record of good long-term capital appreciation.

Singapore also attracts large numbers of expats to its shores. In June 2017 the country’s population was 5.61 million, of which 1.6 million people were non-residents. Nearly 40% of the labour force is made up of foreigners, and this steady flow of non-native feet ensures that the property market is vibrant and growing. Add to this a well-regulated and stable economy (regularly ranked as one of the top business environments in the world) , supported by a prime location in the centre of Asia, and the benefits of Singapore begin to add up.

What’s the property market like in Singapore?

 

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