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Colliers Flash | GDP recovery signals property rebound

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The Philippine economy grew by 11.8% YOY in Q2 2021, the fastest since the 12.0% recorded in Q4 1988. The growth is due to a low economic base, indicating the impact of the pandemic in the same period last year.

More than a year into the Covid crisis, Colliers believes that recovery will still hinge on the successful rollout of vaccines.

In our view, the sustained remittances from Filipinos working abroad will likely help sustain demand in the residential and retail sectors.

Colliers believes that condominium developers and hotel operators should continue lining up new projects and marketing facilities to meet pent up demand especially as the Philippine economy is up for a faster recovery beyond 2021. Developers should also be on the look out for opportunities in the industrial sector as the government ramps up its vaccination efforts and the consumption-led domestic economy continues to expand.

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Joey Bondoc

Associate Director

Research

Manila

Prior to joining Colliers in March 2016, Joey worked as a Research Manager for a research and consutancy firm where he handled business, political, and macroeconomic analysis. He took part in a number of consultancy projects with multilateral agencies and provided research support and policy recommendations to key government officials and top executives of MNCs in the Philippines.

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