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PIA Press Release

RP real estate industry grows 17.1%, an all-time high

Tacloban City (September 29) -- Even as the President speaks at the 62nd United Nations General Assembly about what the Philippines has been achieving in recent years and months, another good news comes along, the all-time17.1% growth of the country's Real Estate Industry.

A boom in real estate means good news to the whole economy. Those who are skeptical about the country's economic growth cannot deny the buoyant state of real estate in the country today. The current boom has held despite the dangling political news and controversies.

It is hoped that these controversies will not break down into instability, and that they can be resolved without too much collateral damage to the hard-to-achieve economic gains the country has made for the first time in decades.

Real estate industry growth is on an all-time high because of the very attractive packages and low-cost housing schemes offered by owners and developers.

The 17.1% growth was due to the increase in rent and lease of commercial and office spaces due to the newly established giant malls and shopping centers in the metropolis, and the booming business process outsourcing industry.

There is also a positive trend in housing as proven by the increase in the sale of residential subdivision and condominium projects which are very much in demand among Overseas Filipino workers (OFWs).

This trend is true not only in the metropolis but even in the far away villages in the provinces nationwide.

This good news should serve as an inspiration to the government leaders and workers who are sincerely doing their best to sustain the economic growth of the country.

It is also hoped that the skeptical and the pessimists among the Filipino people and leaders will see this as the turning point, for them to join the bandwagon of economic growth rather than continue to pull down the economy through their crab mentality.

Finally, it is hoped that such a trend in the country's real estate industry will continue. (PIA 8) [top]

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