{"id":2956,"date":"2016-01-28T17:48:23","date_gmt":"2016-01-28T10:48:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-golden-growth-opportunities-for-the-philippine-real-estate-sector\/"},"modified":"2016-01-28T22:29:50","modified_gmt":"2016-01-28T15:29:50","slug":"3-golden-growth-opportunities-for-the-philippine-real-estate-sector","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-golden-growth-opportunities-for-the-philippine-real-estate-sector\/","title":{"rendered":"3 golden growth opportunities for the Philippine real estate sector"},"content":{"rendered":"


\nWhat\u2019s next for the country\u2019s property industry in 2016?
\nMetro Manila | Image credit: TheStandard.com.ph
\nGiven the upward trend witnessed in the Philippines\u2019 real estate sector in the past 12 months, industry experts are optimistic that the growth will be sustained this year.
\nThe country\u2019s thriving capital, Manila, saw major investment from global capitalists in 2015, according to auditing and advisory firm BDO\u2019s Asian Real Estate report, placing it in the same league neighbouring hub Bangkok.
\nMore: Philippines Property Awards returns for a fourth year in 2016
\nWhile the ongoing economic slowdown in China may or may not pose a threat to the real estate sectors in emerging Southeast Asian markets, there are many growth areas where a property market like the Philippines can show off its strengths.
\n1.\u00a0BPO sector creates a new breed of condo dwellers
\nAccording to the Thomson Reuters Foundation, real estate loans hit a record high of PHP1.23 trillion (USD25.69 billion) in Q3 2015, per data from the Bangko Sentral ng Pilipinas. It reflects a growing confidence in the sector, as well as the tremendous support given by the banking and lending industries in the Philippines.
\nMany first-time buyers or renters would require real estate loans (such as for the deposit), but the big change now is that young workers in the business process outsourcig (BPO) sector are qualifying for such loans.
\nMore: What to expect in real estate as the AEC era begins
\nRick Santos, chairman and CEO of property advisory firm CBRE Philippines, said the new breed of condo dwellers are not confined in Metro Manila. \u201cFrom Clark up north to Davao City down south, the playing field is becoming more exciting especially for the BPO sector which will sustain the momentum and drive for the coming years.\u201d
\n2. Low-cost housing segment helps drive the industry
\nAndy Ma\u00f1alac, chairman of the National Real Estate Association (NREA), told TheStandard.com.ph that major developers are now dabbling in the low-cost and socialised housing segment.
\nMore projects should be expected in this segment in 2016, according to Ma\u00f1alac, and some developers might even cut back on high-end and luxury developments.
\n\u201cThe demand is so big and still growing that it will be very difficult for them to catch up even with their combined production. However, buyers\u2019 financing for these will be another story,\u201d he commented.
\nMore: Philippine developer cashes in on Cebu\u2019s green office market
\n3. Change is good
\nWith the ASEAN Economic Community now in effect, the Philippines will be in a much better position to lead in the region\u2019s growth by allowing certain changes, beginning with infrastructure.
\nNational Economic and Development Authority (NEDA) chief Arsenio Balicasan told TheStandard.com.ph: \u201cThere is a constant need for the infrastructure system to keep up with rising demands in the fast-growing economy, especially these days as new property investments flood the market.\u201d
\nBalicasan noted that the weak infrastructure squanders the full potential of Philippine real estate and continues to hound the industry. He also added that more transparency in the market and possible ownership policy changes could help increase investments in the country.
\nWith the announcement this week\u00a0that Korean firm Hyundia Rotem has won the bid to supply trains for the long-delayed MRT-7 subway project, hopes are up that more infrastructure projects that can impact the property sector can finally see the light of day.
\nWatch out for our report on low-cost housing shortage in the Philippines in the February\/March 2016 issue of Property Report magazine
\n
\nSource : property-report.com
\nRead more…3 golden growth opportunities for the Philippine real estate sector<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What\u2019s next for the country\u2019s property industry in 2016? 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