The Philippine real estate market has seen a surge in sales in recent years, and it’s no surprise why. With the country’s population count continuing to explode and with many of its cities becoming hubs for international business, it’s only logical that more and more people are looking to buy or invest in Philippine property. Recently, the leading property marketplace in the Philippines, PropertyAccess.PH, reported 3.6 billion pesos worth of sales over the last seven years—a milestone for the company indeed. In this blog post, we will look into what these impressive figures tell us about the current state and forecast of the real estate market in the Philippines.
The Philippine real estate market
The Philippine real estate market is one of the most exciting and fastest-growing markets in Southeast Asia. In the past decade, the country has experienced a boom in its economy, and property prices have soared. Despite the recent global economic slowdown, the Philippine real estate market has remained buoyant. This suggests that the Philippine real estate market is resilient and well-positioned to continue to capitalize on the growing demand for housing and investment opportunities.
The Philippine economy has been growing rapidly in recent years, with a GDP growth from 2021 to 2022, averaging 6.7%. This has been a major factor in driving up property prices across the nation. With increasingly lucrative investment opportunities, investors are beginning to take advantage of the real estate market in the Philippines.
The Philippine real estate market is growing at an impressive rate, and its strong economy is helping drive this growth even further. PropertyAccess.PH’s record-breaking sales figures indicate that the market is going from strength to strength, particularly as foreign investors continue to pour money into the country’s flourishing economy.
This growth has also been driven by strong domestic demand, including robust government spending on infrastructure projects and rising household incomes.
According to Jones Lang LaSalle (JLL), a leading international real estate consultancy, residential property prices in Metro Manila, the capital region of the Philippines, rose by an average of 8% from the same period in 2020. In central business districts such as Makati and Bonifacio Global City (BGC), prime residential prices increased even more rapidly, averaging 11% and 16%, respectively, from 2020 levels.
PropertyAccess.PH’s role in the market
PropertyAccess.PH is an online platform that enables property owners and landlords to rent out their properties to potential tenants. By connecting property owners and renters, PropertyAccess.PH helps them reach a lease agreement that suits both parties. It also provides helpful resources such as rent comparison reports, tenant screening, rental insurance options, payment processing, and more.
PropertyAccess.PH benefits both the property owners and tenants. It helps landlords find respectful and responsible tenants while assisting tenants find quality rental properties that match their needs.
PropertyAccess.PH helps landlords easily manage their rental units while still ensuring they are getting quality tenants. Additionally, PropertyAccess.PH provides a comprehensive online marketplace with an easy-to-use search feature. This affords prospective tenants quick and easy comparison of different rental options and find the best one for their needs and budget.
The platform also offers property management tools to help landlords manage their properties more efficiently. With PropertyAccess.PH, it’s easier than ever before for property owners to rent out their spaces safely and securely while maximizing their profit potential. For renters, it provides an efficient way to search for properties with the features they’re looking for.
What the PHP 3.6 billion sales data says about the market
The data collected by PropertyAccess.PH shows that the real estate market in the Philippines is strong. There is a high demand for property, and prices are rising. The average price of a property in the Philippines has increased by 10% over the past year. The market is expected to continue to grow, as more people are moving to the Philippines.
The data also reveals that the most popular areas for purchasing property are Metro Manila and Cebu. These two cities are the largest in the country and have the highest concentration of real estate opportunities. Other popular areas for buying property include Davao, Iloilo, and Bacolod.
The data also suggests that foreign investors are now more active in the Philippine real estate market. There has been a significant increase in foreign investments in the past year, which indicates that the market is becoming increasingly attractive to investors overseas.
The data indicates that the real estate market in the Philippines is robust. With a steady increase in prices and more foreign investments, the market will likely remain bullish for years to come.
Overall, the sales data reveals a strong and healthy real estate market in the Philippines. The data also suggests that there is ample opportunity for investors to make good returns on their investments in this thriving market.
The future of the Philippine real estate market
As the Philippine economy continues to grow, so does the real estate market. The future of the Philippine real estate market looks brighter with incessant growth and development.
The population is expected to continue to grow, which will create more demand for housing. The government is also investing in infrastructure projects, which will boost the economy and create more jobs. This will lead to more people having disposable income to buy property.
The Philippine real estate market is also becoming increasingly open to foreign investors, yielding more capital that helps drive the growth of the market even further.
In addition, new technologies such as virtual reality (VR) are being used by developers and sales agents to make it easier for potential buyers to find and view properties. The buying process is becoming simpler and more efficient with the introduction of digital technology.
Developers are responding to this demand by building more residential, office, and retail spaces. They are also offering more financing options to make it easier for buyers to purchase their property.
Conclusion
The Philippine Real Estate market is booming and PropertyAccess.PH has leveraged on this positive business environment, enjoying more than 3.6 billion pesos worth of sales. This demonstrates great potential for other real estate developers, buyers, and sellers, as well as investors who are looking for attractive returns from the property market in the Philippines. With an increasing number of projects being launched every month, this trend will likely continue in the coming years.
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