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Philippine government’s infrastructure drive is giving property prices a boost

Property prices in the Philippines have remained stable during the pandemic, largely due to the government’s aggressive infrastructure programs. 

“Many may not realize it, but property prices in the Philippines have remained stable despite the Covid crisis, unlike those in other Southeast Asian countries,” said Dr. Reghis M. Romero II, president of the Philippine chapter of the Paris-based International Real Estate Federation (FIABCI). 

Romero said the government’s ‘Build, Build, Build’ program buoyed property prices nationwide even as other countries in the region experienced a downtrend due to the pandemic, citing a FIABCI survey worldwide. 

“The survey showed the Philippines’ house prices rising by 1.8% in 2019 to 2020 and 5.6% in 2021, compared with price declines of -0.3% and -0.4% in Cambodia during both periods respectively, -10.2% and -1.1% in Indonesia, -5.3% and -2.9%% in Thailand, -7.5% and -10% in Laos, and -5.7% and -6.6% in Malaysia,” Dr. Romero II said.

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