Economic experts expect Asian real estate investment to slow down during the second half of the year. This prediction comes on the heels of the Chinese government’s plans to raise mortgage rates for additional homes. Higher prices are also expected of real estate in Hong Kong and Singapore, as both raised stamp duties for various properties.
Philippine real estate, though, remains unfazed by these developments. In fact, Ayala Land, Inc., one of the biggest property firms in the country, says that its earnings rose by more than 30 percent during the second quarter of 2010, a trend that a lot of real estate companies here are experiencing.
Companies like Ayala Land, Megaworld, and Filinvest all report bigger earnings in Philippine real estate. This kind of trend is good both for the residential and office space property markets. With business continually growing, more and more companies are looking for office space. Philippine residents are also on the lookout for quality residential real estate. Positive developments in the industry are indeed something to look forward to.
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