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Philippine Property Market News - June 2021

Claro Cordero Jr. • 02/07/2021
Halfway through 2021, how is the Philippine commercial real estate sector doing amidst the still ongoing health crisis? Our June 2021 edition of Property Market News provides the latest updates in the local property market including insights on how it can recover from the impact of the pandemic.

 

  • The weaker demand for residential real estate reflects the instability of economic recovery as the rollout of mass vaccination progresses rather slowly, exposing the country to the risk of another COVID-19 cases surge. The decline persisted even with modest improvements in overseas Filipino (OF) remittances as the demand is deferred in the short to medium term until the business and economic environment stabilizes.
  • The attractiveness of the country to foreign retailers reflects the soundness of the local retail scene amidst the wide proliferation of e-commerce. Built on strong consumerism, in-store retailing is seen to thrive again post-pandemic along with online retailing while the further easing of regulation for foreign investors in doing retail trade will entice more international brands to locate in the Philippines.
 

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

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