The Philippine real estate market looks bright this year, a real estate portal, Asia Property HQ said, noting especially if we look at places like Metro Manila.
“The demand is outpacing the supply in almost all major cities, while the office vacancy rate is less than 5%,” according to a report published on the portal.
Based on recent figures, as well as previous trends, many believe that Manila might be one of the best locations to invest in real estate in Southeast Asia, the report said.
There are few countries in the world that had a growth rate of 6-7% in the last decade. The rapidly growing economy is driving the real estate sector, with increasingly more Chinese investors and companies operating in the Philippines, it added.
We also see an increased purchasing power among locals.
The report cited the offshore gaming industry as being one of the key drivers of the real estate market, both in the office and residential sector. In 2018, the gross gaming revenue increased by 9.4%, which represents a flourishing industry backed by Chinese investors and gaming companies, it said.
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