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Dec 19 18, 5:21 pm

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Demand for luxury condos in Manila remains strong

by | Feature, Finance

Dec. 19, 18 | 5:21 pm

Citing a recent Colliers International Philippines’ latest residential report, Retalk Asia, a global real estate portal, indicated that luxury condominium demand should remain strong in Metro Manila because the city has one of the most attractive rental yields in the region owing to relatively low prices and sustained demand from affluent Filipinos, foreign investors, and offshore gambling firms.

“Manila’s luxury market is relatively small but has seen stable demand over the past few years. Projects being leased or sold to the secondary market continue to receive strong demand which entices affluent locals and foreign investors to look for similar developments in Metro Manila,” said the Retalk Asia post.

The report also noted the following Philippines residential market forecast at a glance:
• Demand: The take up for condominium units in the secondary market covering major business districts is sustained by demand from foreign and local professionals working in central business districts (CBDs). As of 1H 2018, about 30,000 units have been taken up in the pre selling sector. Colliers sees the take-up breaching the 60,000 mark in 2018.
• Supply: Colliers sees the delivery of at least 7,300 units in 2H 2018. Manila Bay, Fort Bonifacio, and Rockwell will likely account for 84% of new units in 2H 2018. Barring construction delays, Colliers expect about 8,600 units being completed annually from 2019 to 2021.
• Vacancy: Colliers sees overall vacancy rates in Metro Manila hovering between 11% and 12% by end-2018. From 2019 to 2021, Colliers see vacancy inching up to 12% to 13% per year as the completion of new units accelerates.
• Rent: From 2019 to 2021, Colliers sees a marginal rise in rents, projecting lease rates growth by 0.3% to 0.5% per annum during the three-year period as new supply from the Bay Area and Fort Bonifacio is factored in.

“Colliers report identifies that more affluent locals are seeing luxury condominiums as a viable investment option aside from the stock market. The shift in lifestyle also encourages high-end investors and end-users from posh villages to embrace condominium living,” said the report.

It’s back. The longest-running, most trusted and biggest Philippine investment event in the Middle East region, Philippine Property and Investment Exhibition (PPIE), is back. It has helped thousands of OFWs own their very own home. Be part of PPIE 2019 on April 26-27 at the JW Marriott, Deira, Dubai to reach your aspired home. Like @ppieuae on facebook to get tips and alerts on unbeatable deals.

Philippine Property and Investment Exhibition (PPIE), the biggest, longest running and most trusted Philippine business and investment forum in the Middle East is now on its eight edition which will be held this coming April 10-11, 2020 at Crowne Plaza - Sheikh Zayed Road.

The past seven editions of PPIE made a history in the UAE and in the region by bringing in more than 24,500 quality visitors.

This event has been continuously attended by the leading most reputable property developers; banks; insurance companies; government-backed financial, investment & savings institution; money remittance centers; and services providers.

To know more about PPIE 2020, visit www.ppie.ae , or contact:
Rain Dimalanta
New Perspective Media Group
[email protected]
+971 4 244 9642

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Observatory experts say Shawwal crescent moon might not show today

Observatory experts say Shawwal crescent moon might not show today

Saudi Arabia astronomers have confirmed that the Shawwal crescent moon will not show on May 22 (Ramadan 29), Saudi Gazette reported. Experts at the observatory of Majmaah University in Saudi said that the moon will set before the sun today and will not be...

Pakistan plane crashes with 107 on board

Pakistan plane crashes with 107 on board

An aircraft from Pakistan International Airlines (PIA) carrying 99 passengers and eight crew members crashed at a residential area in Karachi on Friday, May 22. Pakistan immediately mobilized paramilitary troops and civil administration authorities to aid and rescue...

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The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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