Residential and Office Space Rising At Great Pace
Metro Manila this year is expected to boost its residential and office inventory at a faster pace than most other Asian cities as demand is seen to remain strong on the back of a growing economy, property consultant Jones Lang LaSalle (JLL) said.
There is likewise an increasing demand from foreign investors—those coming from Hong Kong, the United States and Singapore—looking to buy residential condominium units to rent out, Leechiu said.
“The foreign market is starting to come back, and they’re not here anticipating they can flip the property in a few years. They’re here to anticipate the rents,” Leechiu said.