The residential Makati real estate market is set to grow, according to The Knowledge Report of Colliers International. That’s good news for the state of the economy, which had a pretty good first quarter. There are many indications that this could end up being a positive year for the industry.
While office space in Makati hasn’t been performing very well, it’s the residential sector that’s been getting most of the attention. Demand for larger Makati condo units certainly is on the rise, and that’s why there will be thousands of new units available in the area over the next couple of years. Although the vacancy rate increased from 6.9% to 7.8% during the second quarter, it’s expected to pick up soon.
There are many new Makati condo structures being built in and around the central business district. Some of these are going to be completed in two years, thus meeting the demand for residential Makati real estate.
