With the Philippine real estate market on a steady upswing and the country reporting a better-than-expected growth of 7.1%, now is the time to invest in property, Jones Lang LaSalle’s COO, Lindsay Orr, said on #TalkThursday. She advised those looking to invest to follow the infrastructure and buy residential. Orr said the market has been continuing on a steady path with no risk of a bubble in the near future. “End user demand came up by 11 to 12% over the last 3 years. If they continue to roll out developments at an ever increasing rate then sooner or later supply will outweigh demand and you will have the start of a bubble situation,” said Orr. Because of the continued demand, Manila will see new central business districts (CBDs) emerge to accommodate the growing commercial supply.
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