Colliers Philippines expects a rebound for the country’s property market next year on the back of the country’s coronavirus disease 2019 vaccination rate and improved consumer and business confidence, the real estate services firm said in a report on Monday.
For the office market, Colliers expects the rebound to be supported by the country’s continued COVID-19 vaccination program. It also noted that some companies continued to look for office spaces despite work-from-home arrangements. “Colliers also believes that Bulacan will most likely be an attractive residential investment destination as it will benefit from major infrastructure projects,” the real estate services firm said, citing the completion of the New Manila International Airport and MRT-7.
“Colliers expects rents to recover slowly starting 2022 with an improved vaccination program and a government-projected economic recovery spurring an increase in consumer spending,” it said.
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