Colliers remains optimistic about the expansion of the Philippine real estate market in 2021.
In our view, the expansion of the genuine real estate sector in the medium and long term will have the backbone of the country’s infrastructure and will proceed to the decentralization of economic activities. and Davao.
Its genuine real estate sector is actively concerned through local and national developers. This is especially true for cebu’s residential market. To be sure, the proliferation of national developers in Cebu city has raised the price of land and property. In recent years, the “Invasion of giants” has complemented the growing call for built-in communities and high-level condominium developments aimed at resorts. In the meantime, the call for housing and land projects remains stable.
Cebu is identified as the main investment destination outside the metropolitan domain of Manila and has undergone a significant transformation in recent years. We see Cebu’s contribution to the country’s economic production expand in the short term, especially once the pandemic fades and the market outlook begins. Improve.
Meanwhile, Davao remains a pioneer in attracting outdoor investments in the metropolitan area of Manila. In our view, the local economy is ready for additional expansion and development. With a thriving genuine real estate market, abundant quality workforce and a competitive business environment. Davao is prepared to attract long-term real estate investors to operate in the region.
Colliers believes davao will remain a true real estate investment destination even after the mandate of the existing administration due to the consequences of increased infrastructure spending and renewed investor interest.
Colliers International Philippines data shows that for the two main locations, the demand for condominiums has kept up with supply.
In Cebu, annual releases reached 6900 games from 2013 to 2019, while support was 6300 games consistent with the year consistent with the year. The new source reached a record 10,455 games in 2019, along with a record 9526 in the same year. consistent with the year 2013 to 2019, while the charge of caring was 3,500 consistent with the year. In 2019, Davao’s call for market share of condominiums reached nearly 6400 sets of approximately 5600 sets in 2018, an increase of 14%.
For the home and land market, approximately 3550 games were introduced each year in Cebu from 2011 to 2019, while approximately 3600 games were sold according to the year of the same year. In Davao, approximately 1,200 home and lot games were introduced according to the year of the previous year. consistent with the year, which was made up of an annual catch of 1,400 lances. Housing and land projects and lot projects in Cebu and Davao were only sold for between 90 and 97 in line with the penny of total stock at the end of this year’s quarter.
Over the next few years, Colliers believes that the competitiveness of cebu and Davao residential markets will depend primarily on business continuity plans in the metropolitan area of Manila and the continued progression of built-in communities and public projects.
Colliers sees outsourcing companies in the metropolitan domain of Manila actively seeking to diversify their presence in the workplace and identify operations outside the metropolitan domain of Manila.
In our opinion, the owners of Cebu and Davao thoroughly evaluate the desires of the area of the subcontractors who are contemplating opening a store or expanding. Areas within the Cebu computer and business park, as well as the peripheries are among the hottest features due to the availability of the Peza En Davao area, approximately 15,000 square meters of new areas of Peza will be held between 2020 and 2022. This trend is expected to result in increased demand for condominiums in Davao and Cebu, especially once the pandemic fades and market confidence improves.
Colliers believes cebu and Davao remain favorite outdoor business destinations in the metropolitan domain of Manila due to their competitiveness in terms of labor, infrastructure and commercial costs. In the 2020 Tholons survey of the 100 outsourcing sites in the world, Cebu ranked 15. Cebu and Davao are also among the most competitive cities in the country.
We believe that crisis resistance is probably one of the main considerations of outsourcing companies when opting for opportunities in Manila. according to the 2019 Cities and Municipalities Index, behind only Iloilo and Cagayán de Oro.
Davao and Cebu are the main beneficiaries of the government’s Build, Build, Build program. Coliers believes that the terrain around Davao’s proposed coastal road, davao monorail, Mindanao railway project (MRP) and Davao Rapid Bus Service (BRT) will be extra assessed feasibility for municipality projects by adding condominiums and offices.
Cebu is also one of the main beneficiaries of the government’s extensive infrastructure program. Several public projects have been aligned through national and local governments and those that deserve to improve access between residential communities and major advertising sites. Cebu Rapid Transit Bus, Cebu Monorail and Metro Cebu Highway. Once completed, these projects are expected to have a positive effect on workplace rents and worthwhile assets.
Currently, the biggest fear is the economic effect of the COVID-19 pandemic on the appetite of investors and end-users for residential units. In our view, the slowdown in workspace rentals reflects the attitude of waiting and seeing which companies and this cautious outlook is likely to have an effect on the condo market.
Cebu and Davao are likely to become the main beneficiaries of the government’s planned takeover next year, a component of the larger metropolitan open-air spaces of the Manila metropolitan area. Batch-only markets, which are primarily based on calls from end users.
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