MANILA, Philippines — The property sector is likely headed toward historic highs in demand and supply, according to a report from The Philippine Star, citing data from real estate think tank, Colliers International.
While the domestic economy’s growth eased to a three-year low of six percent in the second quarter, Colliers said the Philippines is still the third fastest growing economy in the region, behind Vietnam (6.8 percent) and China (6.7 percent), the report said.
“Amid the slower growth, the property sector remains resilient with major segments such as office, residential and leisure poised for record-high demand and supply in 2018,” Philippine Star quoted the firm as saying.
However, it added that rising interest rates could dampen low to mid-income residential demand over the next 12 to 24 months.
Apart from rising interest rates, accelerating inflation is also a challenge for the property sector as such curtails consumer spending.
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