Colliers sees tremendous opportunities for the property market for the remainder of the year, which should positively influence the residential segment. Developers should continue their landbanking initiatives within and outside Metro Manila, improve amenities, continue offering attractive payment schemes, and complete projects as scheduled.
The Philippine economy is starting to open up, resulting in more businesses now operating at full capacity and employees working on site. Colliers is optimistic that the government-projected economic rebound, continued inflow of remittances from Filipinos working abroad, and accelerated easing of mobility restrictions will further raise business and consumer confidence in the country.
The demand for units in the secondary market is likely to be driven by local and foreign professionals starting to work on site. Pre-selling take-up will slightly recover but still below pre-2020 demand. Colliers projects the delivery of 10,500 units by the end of 2022, up 20% YoY, with the Bay Area, Fort Bonifacio, and Ortigas Center projected to account for 85% of new supply.
Source: Colliers