CNN reported that the Philippine Real Estate market is showing a high chance of recovery in 2021 amidst the Coronavirus Pandemic. BedandGo have written multiple blogs in regards to State of Real Estate and based on experts, there are high hopes of increase this year.
According to Leechiu Property Consultants chief executive officer David Leechiu, the Philippine real estate sector will recover better than expected thanks to the BPO industry not only in Metro Manila, but in provinces as well. With the second and third wave of the virus still affecting various European countries, it is expected that Western firms will need to outsource workers to be able to accommodate the needs of their company.
Another factor is the Philippine Online Gaming Operators (POGO). With the Supreme Court’s decision regarding the new taxes have hindered their exit in the country.
Experts also have high hope for the Coronavirus vaccine that will jumpstart the recovery of the country. Millions of doses of Pfizer and AstraZeneca’s COVID-19 vaccines are set to arrive in the Philippines in the first quarter of 2021,” according to CNN. Hopefully, the Philippine government will be able to purchase more vaccines to accommodate the Filipino people.
They also pointed out that the opening of Clark International Airport's new terminal in July will open the doors for foreigners and travelers to visit and improve the activity of most tourist spots. Hopefully, the Philippines will recover and improve, not only in Philippine real estate, but in tourism, workforce, and healthcare.
Source: https://www.cnnphilippines.com/business/2021/2/2/PH-property-sector-recovery-Leechiu.html
- bedandgoinc