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The Future of Real Estate in the Philippines(2-min read)

The Philippine economy is the fastest growing in the Asian region, mentioned by International Monetary Funds (IMF, 2014). However, the concerns were raised that in South East Asia, the strong growth combined with low interest rates had led to fears of a property bubble in Manila (CERB, 2014). However, the local real estate brokers and agents remain overwhelmingly positive.

Park Place Expensive Real Estate Monopol by Philip Taylor PT, on Flickr

The recent study by a global property portal, Lamudi, has shown that 92% of the local brokers described their outlook of the Philippines property market over the next 12 months as very positiveThose surveyed nominated the country’s economic outlook as the biggest constraint on the real estate sector, reflecting current concerns about a potential slowdown. The prospect of political change and limitations on foreign investment also emerged as key constraints on the property sector.

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Another good news, in 2015, the GDP is predicted to be rising! As compared to other emerging countries in Southeast Asia region, the Philippines’ GDP will be on the highest rank!
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Lamudi also discussed about the future of the property market with Jose Sales, Head of Research and Consulting at Pinnacle Real Estate Consulting Services. This interview will be valuable for all the property investors.

Q: Do you expect the Philippine growth story to continue?

A: For this year, GDP growth is projected to be slightly lower than last year. Even though we’re slowing down a bit, the Philippines is still achieving higher growth compared to its neighbors. It would be tough to sustain this with the uncertainty surrounding the upcoming national elections in 2016, and transition of power. Business process outsourcing (BPO) is here to stay. Overseas Filipino Worker (OFW) remittances are here to stay. These are keeping the economy afloat and not just afloat, but growing faster compared to our neighbors.

To read the full interview and more of this research, visit whitepaper done by Lamudi. 

As a result of this research, the future of the property market in 2015 will be on a bright side!


Photos:
Park Place Expensive Real Estate Monopoly by  Philip Taylor PT 
Creative Commons Creative Commons Attribution 2.0 Generic License


Other photos c/o Lamudi Philipiines

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3 thoughts on “The Future of Real Estate in the Philippines(2-min read)

  1. Hello. Good day. I like your blog. Would you mind if I ask you to discuss also about the individual rights of every house and lot. Because I am really having a problem with the developer. I was recently told that they are still on the process of securing the individual rights for every property which means that they are selling the property under someone else's name.

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