Sustainability & infrastructure to support the Philippines’ property sector
This is the best time to invest in Philippine real estate, as prices are still low, offering a window of opportunity to investors
A surge in employees going back to the office is projected to continue and help the recovery of the office, residential, retail, and hospitality sectors.
Sustainability and infrastructure are just two of the main areas that the next administration may work on to help the real estate industry in the coming years, according to INQUIRER.net.
In real estate, sustainability is extremely important. According to the World Green Building Council, the built environment accounts for over 40 percent of greenhouse gas emissions. In turn, real estate players have been taking steps to reduce their carbon footprint through various programs.
Sustainability has risen to the top of people’s minds around the world, and it is projected to appear more frequently in government plans in the future.
This increased knowledge and action is expected to lead to an increase in demand for green buildings in the future. The need for green spaces may be driven by occupiers, but landlords have responded in kind with green and sustainability programs.
More: The Philippines’ GDP for 2022 projected to reach 8%
Infrastructure initiatives help to unlock land values and real estate development potential. This is proven by an increase in land values near existing infrastructure projects.
The government’s infrastructure development initiative, Build Build Build, is still in full swing, having resulted in the construction of major highways, railways, airports, and the country’s first subway system. Despite the pandemic, the government pursued 92 of these initiatives, stimulating economic growth.
These new roadways have increased connections within the city and established new high-growth centers outside of conventional business centres, benefiting from the increased economic activity in these locations.
Philstar.com pointed out yet another winning combination: lower costs and higher rental yields. Sheila Lobien, CEO of Lobien Realty Group, said that this year was the best time to invest in Philippine real estate, as prices are still low, offering a window of opportunity to investors before the inevitable increase in property prices driven by economic growth.
The Property Report editors wrote this article. For more information, email: [email protected].
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