Real estate sector to sustain momentum

WHILE economic volatility now shakes global markets a bit, the Philippine property industry stands to benefit from still positive investor sentiment, especially as the local office sector enjoys strong demand from outsourcing foreign companies, industry analysts have noted.

“Although it faces a lot of threats and risks, sentiments toward [Philippine economic] growth remain positive within the next one to three years due to its strong underlying fundamentals,” said Michael McCullough, co-founder and managing director of KMC Mag Group, the Philippine associate of global property advisor Savills. “Aside from this, the ASEAN integration is also expected to stimulate various economic sectors and create further investment opportunities for the country. Real estate is the biggest gainer from this positive sentiment, and this is expected to continue through the rest of 2016.”