Il Philippine real estate market remains positive supported by a period of economic growth and increased confidence among businesses thanks to the improved investment rating obtained by the Asian country. In particular, property values and rents have grown in the Metro Manila business district. This is the picture for the first quarter of 2013 given by the real estate consultancy Colliers.
“The market will remain positive in all sectors, but there will be requests in particular for the residential and office markets” explains Julius Guevara Colliers, associate director of Colliers International Philippines.
In the business district of MakatiMonthly rents for luxury offices grew 5,1% from the previous quarter for a price range from 860 to 1.100 Philippine pesos per square meter. Colliers expects a further 12% increase to 7,1-880 weight per square meter over the next 1.220 months. In the residential sector, rents for a three-bedroom luxury downtown apartment grew 2,3% quarter-on-quarter to 737 pesos per square foot.
The percentage of vacant offices in the quarter was 3,38%, slightly down on the 3,48% of the previous quarter. The "vacancy" for residential housing in the quarter was 9,8%, down from 10%.
http://business.inquirer.net/119595/ph-property-market-to-remain-buoyant
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