Real estate experts to weigh in prospects in Inquirer forum
How can you effectively tap the bright prospects and the potentially lucrative opportunities offered by a robust real estate industry?
Two of the industry’s most renowned experts are set to discuss and shed more light on the latest trends and factors that are expected to influence and reshape Philippine real estate in 2020, in an upcoming forum entitled, “State of Real Estate: A Clear Vision for 2020.”
To be hosted by the Property Section of the Philippine Daily Inquirer, this intimate gathering will have Prof. Enrique Soriano III, executive director of Wong+Bernstein Advisory Group, and Richard Raymundo, managing director of Colliers International Philippines, lending their valuable expertise, which can help industry stakeholders better address the evolving demands and preferences of the market as well as the possible headwinds that may dampen growth. At the same time, the forum will provide useful information for investors mulling to beef up their property portfolio this year.
The forum, which will happen on January 22 at the Manila Polo Club in Makati City, from 1 p.m. to 6 p.m, is supported by Megaworld Corp., Ortigas Land, Rockwell Land Corp., Sta. Lucia Land Inc., Suntrust Properties Inc., Anchor Land Holdings Inc., and DataLand Inc. Minor sponsors include COHO by Vista Land, and Federal Land.
Sustained growth
The Philippine real estate industry has sustained its bullish run over the last decade across different segments, from the residential, office, commercial and retail, industrial, to hotel. Since 2010, real estate prices and land values have also risen steadily and are now at an all-time high amid continued launches of new developments, all driven by a real demand.
Favorable opportunities and a strong appetite for residential, office and commercial spaces continue to fuel optimism in the real estate sector, making it well poised to sustain a robust growth over the next few years. Add to that the country’s robust economy, steady remittance flows from the overseas Filipino workers (OFWs) and the consumers’ stronger purchasing power, which helped pave for the emergence of new property segments.
Industry experts earlier told the Inquirer that 2020 will likely turn out to be another exciting year for property developers, whose projects are increasingly reaching the countryside, most particularly in the secondary and tertiary cities, where their expansion can potentially trigger a new wave of economic growth. Real estate, after all, has long proven to be a significant contributor to the local economy. Most medium- and large-scale property projects have helped stimulate economic activities in the area, generate more job opportunities, and uplift the quality of lives of people.
Despite the bullish outlook however, real estate developers must remain cautious and well prepared to address possible challenges both in the local and global landscape which may undermine the potential opportunities—from uncertainties in the fiscal regime, increasingly cutthroat competition, regulatory roadblocks, among others.
