Manila’s investment site appeal slumps
Manila’s ranking as an investment prospect in the Asia Pacific declined two spots to 19th, as noted by the 2021 Emerging Trends in Real Estate report by Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC). Manila ranked 19th out of 22 cities in the region.
The report also projects that the office demand will be decentralized to reduce commutes, “which means satellite cities like Clark could signal some real estate growth in the Philippines.”
Real estate experts believe that the country can have real estate opportunities in other sectors. According to real estate services firm Santos Knight Frank Chairman and Chief Executive Officer Rick Santos, “With megatrends such as e-commerce growth, decentralization outside Metro Manila, and continued outsourcing and BPO (business process outsourcing) expansion in the Philippines, we expect to see a soft rebound in the real estate market as the economy gradually recovers.”
