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Philippine Property Market News - January 2021

Claro Cordero Jr. • 03/02/2021
In this January 2021 issue, we take a look at the latest updates on the local commercial real estate market as well as share an outlook for the sector in 2021.

 

  • While the gradual return to office is expected this year, the office segment may not immediately return to its pre-pandemic vibrancy as the uncertain global business environment may continue to affect expansion decisions of businesses over the short to medium term. The office segment, however, is seen to benefit from the anticipated growth of the IT-BPM sector with the United States' less protectionist policies under its new administration.

  • The new COVID-19 variant has caused renewed anxiety and further stalls the resumption of international travel. It is also seen to discourage domestic travel as the country extends the more stringent community quarantine qualification in major urban areas and tourist destinations, thus, further blurring the tourism industry outlook.

The above is an excerpt of the January 2021 report. To read the full report, click on the Download button on the right.

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