REAL ESTATE INDUSTRY TO BE MORE ACTIVE ONCE ECONOMY RECOVERS

By: Luz Wendy T. Noble, Reporter - BusinessWorld
Published: May 19, 2020 | 12:03 am
Full Article: Real estate sector to be more ‘active’ once economy recovers
Snippet: THE Philippine real estate sector may become more “active” next year, as the economy is anticipated to bounce back after the pandemic subsides.

“Our view is that the recovery of the property sector in 2021 hinges on the pace of expansion of Philippine and global economies. Given a strong rebound of Philippine growth in 2021, a more active property sector is also expected,” Lyn I. Javier, BSP managing director for policy and specialized supervision, said in an e-mailed response to BusinessWorld earlier this month.

Ms. Javier cited historical data from property consultancy firm Colliers International Philippines that showed demand for segments, particularly office and residential, usually wane in the wake of an economic crisis.

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