The Philippines' growing economy has sown immense benefits for the real estate industry, says RE/MAX Philippines country manager, Michelle Perlas.
In a speech delivered at the International Realtor Conference, held at Manila's City of Dreams, Perlas quoted economic and industry rates from the latest State of the Nation Address (SONA), proclaiming that the Philippines is no longer "the sick man of Asia." "With a manufacturing sector hitting almost a double-digit growth rate and uplifting upgrades from credit rating agencies, it is not difficult at all to realize how such a performance can be interpreted as the beginning of a new era of sustainable and bankable progress for the Philippines," said Perlas.
"It goes without saying," continued Perlas, "that our real estate sector reflects the robustness and optimism of the current times. Nationwide—from the cities that harbor major business centers to the provinces that play host to rapid residential growth and commercial expansion—we are enjoying a period of stable growth."
Perlas noted that "land values are anticipated to grow by 6 to 8% over the next several months, and the demand for land and the paucity of availability are both expected to keep the industry busy."
Furthermore, Perlas had observed that applications to license commercial condominiums, industrial condominiums, and farm lots had increased. The residential sector is on a steady upward trajectory, while the office industry has sky-rocketed with the upsurge of BPOs in the country.
"The capital value growth in the Makati business district reflects this, with Grade A values appreciating the fastest at 4.1% quarter on quarter, a figure that is only expected to grow," said Perlas.
"As a Filipino, I am very proud to be standing here, as part of a global community, reporting on the powerful, positive changes that are taking place in the Philippines," Perlas issued.
"As RE/MAX, an internationally recognized brand with a global presence and a proven track record, we are proud to be present in one of the world’s most promising and productive markets," said Perlas. "As Filipinos, we are proud to play an important role in this country’s progress, not just as brokers and partners, but as participants and movers, and as game changers in this landscape we call home."
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