Realty sector standouts feted
It was a fitting occasion for recognizing some of the country’s outstanding real estate developers and their projects. Copresented by Inquirer Property, The Outlook by Lamudi feted the honorees as selected by a panel of judges and some 10,000 property seekers on the Lamudi platform. More than a celebration, it was also a reflection of the prevailing bullish outlook on the Philippine real estate industry.
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It was a fitting culmination that feted some of the country’s outstanding real estate developers and their projects. On Thursday night, The Outlook 2018 by Lamudi, co-presented by the Property Section of the Philippine Daily Inquirer, finally unveiled the winners, as based on the assessments of an esteemed panel of judges and some 10,000 property seekers on the Lamudi platform.
Beyond the prestigious accolades that were proudly received by The Outlook 2018 winners, it was also the economic managers’ bullish outlook for the Philippine real estate industry that left attendees on a high throughout the night.
Speaking before more than 200 guests at The Outlook, Budget Secretary Benjamin Diokno noted that sound macroeconomic factors are enabling the Philippines to remain resilient to withstand headwinds. The country is in fact one of the best performing economies among emerging countries today.
And this is crucial for the real estate sector, whose sustained growth rests on the country’s solid macroeconomic fundamentals, Diokno explained. Real estate and construction activities, he further added, are considered engines of growth, playing a vital role in supporting the growth momentum of the Philippines.
Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo, also a keynote speaker at The Outlook 2018, meanwhile noted that, “real estate remains robust amid steady supply and sustained demand for residential and office spaces.”
He even belied speculations of a possible overheating in the property sector, noting that there is “no substantive evidence of an asset price bubble due to the country’s solid macroeconomic fundamentals.”
Describing the industry to be dynamic and robust, Guinigun- do also pointed out that the real estate sector is an area of interest for the BSP as property prices influence general price levels and economic output; misalignments in property prices may fuel financial instability; and poli- cy actions of the BSP affect property price valuations.
Indeed, there is much optimism about the prospects in Philippine real estate, where players and stakeholders continue to raise the lifestyle standards in the country, from the ultra premium apartments, condominiums for the midmarket, to socialized housing. Other industry segments are also seeing unprecedented growth, from the commercial, offices to industrial.
Fortunately, the sector’s robust growth is no longer just contained within Metro Manila. Developers are also breaking new grounds in key cities and provinces, where they, along with other investors, are see much potential as well.
And if all these are indications of what can be expected over the next several years, then the Philippine real estate sector can only expect a bright, exciting, and vibrant future ahead.