The Bangko Sentral ng Pilipinas signaled on Thursday it was ready to combat inflation with monetary tightening measures after the US Federal Reserve announced another 75-basis point rate increase in key rates.
The BSP announced a surprise 75-basis point hike last July 14 and indicated another increase would happen during its policy meeting next month. “In our view, launches across the capital region are likely to be stifled by rising interest rates and construction prices,” Colliers said. Nevertheless, the company expected 2022 preselling activities to beat figures from the previous year, when the broader economy was heavily impacted by stringent pandemic lockdowns.“In our view, 2021 take-up figures are likely to be breached this year,” Colliers said.
The company said the industry was supported by improving consumer sentiments and the continued inflow of remittances from Filipinos working overseas.Meanwhile, Bondoc expected the market for secondary or preowned units to benefit from uptake from foreign employees and from return-to-office mandates.