Social networks are buzzing, Song Hye Kyo, Cha Eun Woo and many Korean stars are said to own resort real estate in Boracay, Philippines !!
Recently, a Filipino real estate expert revealed on a social networking site that many Korean stars own real estate in the form of condominiums in the Philippines.
In particular, he mentioned the names of two famous stars Song Hye Kyo and Cha Eun Woo and revealed that each of them owns at least 1 apartment hotel in Boracay.
In the Philippines, condotels are a combination of residential and tourist real estate that is dead. This allows foreigners to buy up to 30% of condotel units, unlike most other properties.
A condotel, which is a building that is legally an apartment building but is operated like a hotel, offers short-term rentals and has a front desk.
Apartment hotels are usually high-rise buildings developed and operated as luxury hotels, often in large cities and resorts. These hotels have apartments that allow someone to own with full services and facilities. When not using the property, they can take advantage of the marketing and management done by the hotel chain to rent and manage the unit as they would any other hotel room.
Boracay is a resort island in the Western Visayas region of the Philippines. It is located 0.8 km (0.50 mi) from the northwest coast of Panay. Covering a total area of 10.32 square kilometers (3.98 sq mi), it is administered by three bays in Malay, Aklan, which, in 2015, had a population of 32,267.
In addition to its white sand beaches, Boracay is also known as one of the world’s top relaxation destinations. In 2013, it emerged among the top destinations for tranquility and nightlife.
Boracay was awarded the World’s Most Beautiful Island award by the international travel magazine Travel + Leisure in 2012. In 2014, this resort island topped the list of “The best islands in the world” by the international magazine. Condé Nast Traveler announced. In 2016, Boracay topped this magazine’s list of “10 best places to see”.