PH property market awaits Trump policies

The Philippine property market is in a wait-and-see phase as the election of Donald Trump as US president poses uncertainties to the two main growth drivers of the country’s real estate market, real estate services firm Colliers International said on Thursday.

In a quarterly property briefing, Colliers International director for valuation and advisory Julius Guevara said that the Trump presidency as well as President Rodrigo Duterte’s anti-America sentiments could have a negative effect on the country’s business process outsourcing (BPO) industry and overseas Filipino workers (OFW) remittances, which are the main drivers of the property sector’s growth.