Property News · May 13, 2020

Falling OFW remittances, rising unemployment to push down property prices in Philippines by 15 per cent


Home prices in the Philippines are likely to decline by up to 15 per cent after more than two decades of uninterrupted growth as a slowing economy due to the Covid-19 outbreak weighs on demand, with affordable and mid-income housing seen as the most vulnerable segments.The twin blow of rising unemployment locally and job losses among Overseas Filipino Workers, and a slowdown in investment and hiring by Chinese-operated online gaming companies, known as Philippine Offshore Gaming Operators (Pogo…

Source : South China Morning Post
Read more…Falling OFW remittances, rising unemployment to push down property prices in Philippines by 15 per cent

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