Joey Bondoc

This week, Colliers Research provides insights on the Monetary Board raising key interest rates further, and how this will likely result in increased mortgage rates. Furthermore, the DOT reports that tourism receipts have crossed the PHP100 billion mark for the first nine months of 2022. Although still way below the revenue recorded in 2018 and 2019, this signals a positive improvement and bodes well for the leisure and hotel sector.

This week, Colliers Research provides insights on the ongoing development of the New Manila International Airport and why this crucial infrastructure project is a boon for Bulacan’s property market. Furthermore, Aboitiz InfraCapital unveiled expansion plans for its LIMA Estate project in Batangas. Already home to numerous industrial parks and locators, Batangas is expected to benefit from the PHP8.6 billion approved foreign investments allocated for the CALABARZON region.

The Philippine economy surprised at 7.6% growth in Q3 2022. This sets average GDP growth for the first three quarters of 2022 at 7.8%, well above the government’s target of 6.5% to 7.5% for 2022, and making the country one of the fastest growing economies in Asia.