REAL ESTATE OUTLOOK 2013
Philippines will continue to be strong in the real estate sector for three (3) more years. This is due to the fact that construction of the "big four" (4) in the real estate development continue to move forward towards high rise construction. The big four are; Ayala Land, DMCI, Megaworld, and SMDC.
Condominium development will be the trend in real estate construction due to lack of land to developed specially in the Mega Manila area. Vertical development maximized the much needed space and bring in a better yield in terms of sales since these would cater to a wide market particularly the foreign sector. The Philippine Constitution prohibits land ownership to foreigner.
Buyers or investor tend to capture and seize the moment should be prepared to scout different area in the country since major redevelopment in the key cities of the country like Makati,Manila,Quezon,Cebu,Pampangga,Cavite,Laguna,Batangas and Davao, etc.these area would be made to incorporate a township kind of development wherein work and play being the attributes to attract investors. This kind of features mark almost all the Condominium development. With the prize range of Php. 1.8M up to 5M these would be considered the prevailing unit prize from studio to a two bedrooms units with 24 sq. m. to 32 sq. m.
Horizontal development will cater mostly to local market primarily the overseas filipino workers (OFW). Townhouses with 45 sq. m. floor area and a 3 bedrooms unit would become much trend that would be considered a family dream home specially that the PAG-IBIG financing increase loanable amount of its members.
Generally real estate will continue to be in the upswing since market for end user and investor will never be contained because ownership restriction as to the numbers of real estate property to be acquired by locals or foreigners are not regulated nor barred particularly in the condominium development.