Wazzup Pilipinas!
Despite the
challenges the Philippine economy continues to face, it still enjoys steady
growth, with no less than the World Bank projecting a rate of 6.4 percent for
the country in 2016. Real estate has been a beneficiary of, and contributor to,
this sustained growth, with the nation’s capital of Metro Manila going as far
as being included in Jones Lang LaSalle’s Commercial Attraction Index as one of
the top 30 real estate investment cities in the world.
Expectedly,
many predict that the continued shift of demand toward middle-income properties
will be what will help sustain overall growth of the real estate market the most,
as it is these properties that can be afforded by most with disposable incomes.
In no way does this devalue luxury properties, however, as mentioned in Lamudi Philippine’s
2015 Real Estate Report: “There are many reasons why ultra-luxurious
properties are considered a safe investment: their values rarely—if
ever—stagnate.”
The report
further indicated how leasing, both from local tenants and the expanding
expatriate population, will be an increasing source of yield for these luxury
properties, and that the most definitive of these are found in the cities of
Makati and Taguig, and in a number of high-end townships in Cavite and Laguna.