A diverse country with an intriguing history, the Philippines today is a multi-party, democratic republic, open to foreign investment, and integrated within the regional and international political and economic community.
Philippines Real Estate
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Demand for housing and office space in the Philippines is expected to remain high on the back of impressive economic growth. Despite an increase in new space, property developers expect vacancies in premium residential and office space across business districts to remain scarce.
A surge in bank lending to the Philippines’ real estate sector is indicative of the market’s potential in a favourable environment of low interest rates and strong economic growth. The central bank is keeping a watchful eye on the market, and may move to tighten regulations if it feels an asset bubble is forming. However, real demand seems strong enough to maintain momentum despite an increase in speculation.
Confidence in the Philippines’ property market, fuelled by economic growth, an influx of expatriate workers and rising investment by overseas Filipino workers (OFWs), is intensifying competition among the country’s major real estate players.
Although economic headwinds have thrown international markets off course, the Philippine economy has managed to stay on a relatively even keel. Local authorities note that while GDP growth slowed in 2011 relative to 2010 due to weak external demand and government underspending, household
With interest rates still low and consumer demand strong, the Philippines real estate sector is off to a good start this year. However, continued delays in implementing the legal framework for real estate investment trusts (REITs) may slow momentum in the property market.