- Positive real estate outlook for 2019
According to data from previous trends and reports by real estate agencies like JLL, the Philippine real estate market promises to be bright for 2019.
“The Philippines’ real estate market is driven by rapid urbanization, increasing employment by the BPO sector, disposable income, surging OFW remittances and growing real estate investments,” explains a report by Ken Research.
The influx of high investments from International and domestic players has caused a huge demand for office spaces and rapid employment generation. “The increasing disposable income and rising tourism [are] escalating the demand for all the sectors including residential, commercial, retail and hotel sector,” the report adds.
Strong demand—driven by the influx of expatriates working for the BPO industry and online gaming companies—will continue beyond 2019. So invest in real estate now, or as soon as possible, before prices increase in the next couple of years; that’s the best decision you can make this year.
- More infrastructure to be finished this year and right after 2019
Many believe that the government’s Build, Build, Build program will usher in the country’s “golden age of infrastructure.” Numerous new roads, bridges, railways, and airports are scheduled to be finished in the next few years. This project is set to decongest Manila, by making other places beyond the metro more accessible. It hopes to encourage growth in provinces, as new infrastructure can encourage investors to consider setting up shop there.
Real estate values normally increase around areas where major infrastructures like highways, bridges, and roads go up. And the values increase even more, up to 50 to 70%, after the infrastructure’s completion and the start of operation.
- There’s going to be a huge demand for rentals
We have been seeing a steady influx of foreigners coming to the country to invest and work in BPO, gaming, and other industries. Market reports predict that this will continue this year up to the next couple of years. This therefore drastically increases the demand for rentals.
Many see this as the fulfillment of people’s dreams of having passive income thru rental properties. According to Colliers Philippines Research, the demand by foreigners will drive rentals 30%-50% higher especially in residential areas near business districts.
You can read more about this here https://pursuitofpassion.ph/practical-living/top-3-reasons-2019-best-time-buy-home/
