Growing optimism for Philippine property in 2022

Business World

Mar 28, 2022

EXCERPT


The outlook published by professional real estate services company Colliers Philippines last December highlights that the Philippine property market is “raring to roar back” this year, with an improving vaccination rate and rising consumer and business confidence providing a “much-needed boost.”

“In our view, office, residential, retail, and industrial sectors will benefit from a macroeconomic rebound. Landlords should prepare to capture pent-up demand while tenants and investors should maximize opportunities as the market is on its way to recovery,” Joey Roi H. Bondoc, associate director for research at Colliers Philippines, wrote in the outlook.

For professional services firm Jones Lang LaSalle (JLL), on the other hand, the real estate market is expected to move with cautious optimism in 2022. While market sentiment is improving, a mixed outlook remains.

“We also expect new supply or significant supply expansion in 2022 on office, retail, hospitality and residential to exert pressure in terms of real estate market performance,” Janlo C. de los Reyes, head of research and consultancy at JLL Philippines, was quoted as saying in a webinar on the firm’s latest overview of the market last January.


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