BSP assures equity, property markets are safe from asset bubble
The Bangko Sentral ng Pilipinas (BSP) assured the public that equity and property markets are safe from an asset bubble for now, based on latest indicators.
“In the case of the equity market, valuations have come down recently, thereby lessening the risk of an asset bubble… While there is persistent demand for residential properties, it would not indicate an asset bubble,” BSP Governor Benjamin Diokno told reporters in an online briefing.
Citing data as of the first quarter, Diokno said that property prices were still driven by Philippine offshore gaming operators (POGOs), traditional companies and business process outsourcing (BPO) firms’ demand for office spaces.
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