For both investors and people looking for a property for sale in the Philippines, 2019 is the time to invest and start looking for real estate. As the current year shows a promising outlook towards the real estate industry in the Philippines, it is high time to invest in some properties. Today is the time that investors should put their money into the industry.
Amidst the first months of 2018 that showed a slowed growth of Philippine’s economy, the Real Estate sector remained sturdy with both the office and residential segments showing record-busting demand and supply. A lot of people realized the potential of real estate investing. Companies like Lamudi Philippines Inc., Colliers International Philippines, and Jones Lang LaSalle Inc. (JLL), all forecasted a very positive year for Philippine’s property market.
JLL Inc. stated that this forecast does not only range at Metro Manila but also on developing cities like Davao, Cebu, and Clark. These cities show either sustained or increased demands, and it is highly likely that demand will continue to increase as time progresses. The development will blossom year after year. It is also expected that the Philippine property market will attain a double-digit increase in growth, stated Leechiu Property Consultants (LPC). The Philippines is becoming a hub for real estate investing.
Over the past year, the current stock of office space was increased by an estimated 1 million square meters, and of the nine-point-one million office space existing, 72% of it has been leased. According to Inquirer.net, Business Process Outsourcing (BPO), Flexible Workspace providers, and online gaming areas were the leading space occupiers as of the 4Q 2018. On the other hand, office rent upheld its growth due to solid demand.
For the residential sector, its supply has also increased by 35 thousand units, which in total, adds up to 338 thousand units. Due to the newly completed housing units from the upper-middle to luxury sectors in Makati and Bonifacio Global City, demand in these areas has increased rapidly. Condominiums and other subdivision properties are becoming a hit in today’s market. These options appeal greatly to small families as well as to singles who want to secure their hard-earned money. They put and invest it on these properties so that they can secure their future.
This 2019, it is perfect for you to look into the real estate in the Philippines. Whether you’re a foreigner or a local, consider taking advantage of the properties available for sale in the Philippines. You will never get wrong about investing in it because the industry is continuously booming. It is good if you can be one of the pioneers when it comes to investing in the country. The value of the property will steadily grow as the industry progresses. Considering this, you are sure that the money that you have invested in the property will also get bigger. The property’s value will increase, and it will give you a good and more significant profit if you opt to resell the property in the future.