News » Elections to affect PH real estate market

Elections to affect PH real estate market

Elections to affect PH real estate market

The upcoming presidential elections will likely put investments in the Philippines on a standstill as developers wait for the policies of the new administration.

According to industry analysts, this hold-up will, in turn, potentially worsen the local real estate market that is already struggling from the impact of the pandemic.

Cushman and Wakefield (C&W) Director and Head of Research, Consulting & Advisory Services Claro Cordero Jr. said that two factors will determine if the property market is going to benefit from the polls — its credibility and outcome.

He stated that “the biggest threat would be a hotly contested [election] result that may potentially drag and delay the process and installation of a new administration.”

Cordero added that this may “undermine continuity and erode confidence among investors and consumers both in the economy and the property market.”

In data released by C&W, occupancy rates in the property market – office, retail and residential – declined by seven to 20% last year.

Meanwhile, KMC Savills Co-Founder and Managing Director Michael McCullough said that the property sector “needs all the help it can get this year” as they still foresee a higher vacancy level as compared to 2021.

However, about 703,000 square meters (sqm) of new office space is expected to be completed in Metro Manila in 2022 — “the largest of the next three years.” 

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.