Thousands of islands come together to form the Philippines, which is hands down one of the world’s most enchantingly beautiful regions. From stunning blue seas to crystal white sands and right through to lush green rainforest, the most incredibly landscapes nature has to offer draw in millions of tourists each and every year. Unsurprisingly, average property values are on a steady upward trajectory with key areas like Bonifacio Global City and Rockwell Center spiking over 10 per cent in 2013 alone. Rent yields are nothing if not attractive at around the 9 per cent level in Manila, though short-term vacation rental yields closer to the coastline have the potential to go so much further. Transaction costs may be extremely high at up to 17 per cent, but explosive demand ensures the outlay will usually be well worth while.