OPTIMISM REIGNS

Real estate agents not bothered by political weather

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WHILE developers may be holding their big plans until this year’s elections are over, their real estate agents are so optimistic about their industry that they are not at all disturbed by political uncertainty, a recent survey by global property website Lamudi suggested.

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The survey asked the agents to rate several factors in terms of impact on the real estate industry from 1 to 5, with 1 meaning not all and 5, severely affected.

A majority of 36 percent rated political uncertainty as 2 or having a slight effect on the real estate industry, while 17 percent said it has no effect at all or gave the factor a rating of 1.

Similarly, a majority of 36 percent of the surveyed agents rated banks’ more stringent approval for house financing as having a moderate effect on the real estate industry.

While14 percent rated this factor as 5 or severely affecting the industry, nine percent rated the same as 1 or not all affecting the industry.

Aside from political uncertainty and banks’ stringent measures, other factors the survey asked the agents to rate as to their effect on the real estate industry were: a mismatch between supply and demand, lack of marketing and branding for real estate projects, slowing demand from Filipino homebuyers, slowing demand from foreign buyers, slowing demand from overseas Filipino workers, natural calamities, and economic uncertainty.

Lamudi said more brokers rated all factors as having a moderate effect on the property market (21 to 36 percent of the respondents), except for one—political uncertainty, which got a majority rate of slight effect and 17-percent rate of no effect at all.

For more details please follow at http://www.lamudi.com.ph/research/whitepaper-2015/.

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