The country may be grappling with the COVID-19 but real estate remains competitive and property purchases in central business districts (CBDs) are increasing.
In a study released by property consulting firm Colliers Philippines for the second quarter of 2021, it said that recovery in residential take up is expected in 2022 “on the back of a rebound in office leasing; macroeconomic recovery; sustained remittances from Filipinos working abroad; competitive mortgage rates; and a pickup in business and consumer sentiment.”
For property developers, the foundation remains strong.
“This is because homes remain a basic human need. And while the pandemic may have challenged the financial capacity and purchasing power of a lot of people, there are still those who are determined to look for homes for various practical reasons, be it for convenience, safety health and for long-term investment,” said Federal Land Sales group head Margarita Saenz-Resurreccion.
“And our role is to continuously improve and innovate our offerings to adapt to the constant changes in the needs of our stakeholders,” she added.
Read more: Philippine Star