Residential rental market growing – Colliers PH

THE completion this year of at least 10 noteworthy residential projects in Metro Manila’s three central business districts will push vacancy rates higher and rental rates lower, but open new leasing opportunities for property Colliers International Philippines said.

The bulk of the new supply will come

sees luxury condominium take-up - port. The steady demand has spilled

main central business districts of - projects completed this year will put - amount.

projects to be completed this year are The Beacon-Amorsolo Tower

vacancy should be relatively stable

Office market still tight

The situation in residential real es- Kroma Tower in Makati, one of at least 10 big residential projects in Metro Manila’s central business districts that are expected to be completed in 2017. tate stands in contrast to the outlook

In a market review presented at -

Residential leasing opportunities

The pressure on residential va rental property from a relatively - portunities for developers and

studio and one- bedroom units over the past three to five years by a number of developers has

“For companies that have either individually or even as and do not lead to a deterioration of the projects’ perceived oversupply of studio and one their properties to the short

owners to lease out units to

rental accommodations near

worker accommodation projects professionals who cannot afford to own their own apartment yet or rent a condominium unit - explained. “The halfway houses to live near their place of work. These types of accommodation units are also more practical for - mute to and from work more

situation would persist for at least a few years until some major infrastructure projects this presents opportunities for developers to build “worker rental income.