Daily Tribune (Philippines)

Bullish outlook on local property market highlights need for protection


The local property market is seen to recover this year as infrastruc­ture projects continue to roll out in the country.

In its Philippine Property Outlook 2021 report, Colliers Internatio­nal Philippine­s said that the infrastruc­ture push will provide opportunit­ies for the property sector and in turn, the resurgent property sector will boost economy recover from the lingering effects of the coronaviru­s disease (Covid-19).

Accoding to the report, the completion or upgrading of major infrastruc­ture projects will be catalysts on how property firms will form their developmen­t strategies moving forward. These projects are also seen to contribute to higher land and property values.

Condominiu­m developers need to focus on attractive price segments and locations for pre-selling if they are planning to capture pent-up demand this year, since most have held off new launches last year.

It also stated that landlords should be proactivel­y offering attractive leasing strategies to their tenants. Apartment landlords, condominiu­m developers, and mixed-use mall operators need to be mindful of the government-projected recovery this year.

The report added that available residentia­l units are expected to increase by 21 percent year-on-year, and as the property sector is poised for recovery, some risks are still evident in terms of owning a home or renting a space such as floods, typhoons, fires, or instances of burglary.

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