Why You Should Invest in Properties in the Philippines This 2023

With COVID-19 limitations loosening and the economy completely open, it appears that the Philippine real estate market is on a modest, but steady resurgence.

From global political and economic issues causing inflation to the increased investing power of Filipino consumers, 2023 is shaping up to be an unpredictable but promising one for aspiring homeowners and investors across the country. Discover the real estate trends you should be aware of this 2023!

Increased Demand for Luxury Real Estate

While today’s challenges may deter some prospective purchasers, individuals in the luxury sector appear to be picking up significant real estate assets at a rapid pace.

In addition, the luxury market proved to be the most resilient in comparison to the onset of the pandemic in 2020. In comparison, the mid-segment exhibited favorable developments, with evidence of ongoing recovery.

Inflation-Induced Resilience

Inflationary risks should not be overlooked, as they threaten to raise building costs and reduce the pool of possible buyers for real estate.

Despite this, real estate investing has proven to be profitable in the long run, since house prices have historically kept up with the rate of inflation over a longer period, despite short-term drops in demand.

As a result, prospective investors may wish to consider buying and holding real estate in the near term, as real estate often weathers any economic difficulties that occur during inflationary periods.

Millennials, the Next Generation of Home Buyers

Millennial purchasers in their mid-20s to early 30s have emerged as a new (and investment-savvy) market for real estate developers. They are now more self-aware, educated, and concerned about investing. They understand the worth of their money and where it might potentially develop rather than being spent.

Millennials, who were long thought to be affluent spenders on travel, food, and other experiences rather than savers, are now projected to alter the country’s real estate market as they marry and settle down, while simultaneously increasing their purchasing power.

Sustainability Is A Must, Not A Choice

With the effects of climate change becoming more obvious in the Philippines and around the world, sustainability has evolved from a preference to a must among prospective property investors. Indeed, the emergence of more Green-Certified buildings leveraging advances such as energy-efficient lighting and appliances, as well as the usage of eco-friendly building materials, has made this more feasible.

The Bottom Line

While the real estate environment in the Philippines is always evolving, one thing remains constant: businesses require the necessary competence to increase their digital presence and attract more possible buyers and investors.

Are you ready to begin investing in real estate properties in 2023? Contact us right away.

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