No asset bubbles formation – BSP

The Bangko Sentral ng Pilipinas (BSP) said that it does not see signs of bubble formation despite the continued demand for real property assets.

“We do not yet see asset bubbles forming. But developments bear watching,” BSP Governor Amando Tetangco Jr. said in the recently concluded Foreign Correspondents Association of the Philippines Media Forum. According to Tetangco, the central bank’s assessments showed that demand for real property assets continues to be based on fundamentals, that there is “real demand” from overseas Filipino workers, expatriates and the business process outsourcing sector.