Sabado, Mayo 25, 2013

"No property bubble, yet for PH." Moody's

    Moody's Corporation announced that Philippines real estate sector remains strong and that "No threat of property bubble, yet." According to Moody's the country's strong property sector remains positive due to high demand and low interest rates.

(video from youtube)
ANC News

    However some "doomsday experts" say and think otherwise, they said that the said "property bubble" were already here some years ago.  Since most of the high rise property now are mostly vacant and were not utilized for its purpose especially in the residential sector.  But, developers think otherwise, foreign buyers remain high were in it said that they are not simple buying a unit or two but sometimes they would tend to purchased a whole floor consisting of 6-8 units or even penthouse unit.  The OFW market will continually grow and remain promising because owning a house are one of the many dreams of most Filipinos.  The BPO's, and the local market, considering government financial institutions like the SSS, GSIS and PAG-IBIG  have allocated funds for membership housing loans at a very low interest rate. These sectors would still stir growth for property demand both in residential and commercial use.

   We as real estate service professionals or RESP in general, think that the very strict requirements of the banking sectors together with the property developers and government direct interventions through positive policies the said bubble would be just series of marketing challenges that could become a "sparkle of opportunity" for our sector. Wherein the so called multiplier effect of the property sector would drive the Philippine economy positively.