Colliers poll conducted during its Q4 2021 property market briefing reveal an overall upbeat attitude among property developers and investors, especially now that the Philippine economy is reopening.
The results of our latest property market briefing poll reveal that property developers and investors are aggressively and proactively looking for opportunities especially now that the Philippine economy is reopening.
Office landlords are completing projects according to schedule as more employees are encouraged to work on-site. In our poll, 67% of respondents said that their employers are already executing back-to-office plans, which in our opinion should support office leasing recovery beyond 2022. Colliers recommends that tenants renovate their offices to support their back-to office and hybrid plans.
Residential developers, meanwhile, are launching more horizontal projects outside Metro Manila as key areas in north and south Luzon remain preferred investment destinations. In fact, almost three quarters of our poll respondents (or 74%) chose Laguna, Cavite, or Batangas for their next horizontal unit investment, while 26% of respondents are eyeing to buy residential units in Pampanga or Bulacan.
Local tourism, too, is gathering pace while global travel continues to sail through uncharted waters: 47% of respondents chose Palawan as their top travel destination, followed by Boracay (33%). Data from the Department of Tourism show that as of March 9, 2022, there were about 76,736 arrivals (56% foreign, 44% balikbayans) to the country since the reopening of the borders on February 10, 2022. Meanwhile, DOT expects domestic trips to reach 84.8 million in 2022 from the estimated 36.5 million trips in 2021.