They shared how the industry stayed afloat despite economic challenges, why the number of young real estate investors continue to grow, and highlighted why now is the best time to invest in a real estate property.The real estate sector has been flourishing even more during the years of the pandemic. Banzon and Leechiu discussed thoroughly how the industry maintained buoyancy.
“In the services sector, the Philippines is a very big part of the solution to the crisis management of the companies. That’s why every time there is a global crisis, more jobs are created in the Philippines. There’s just more demand for the real estate when that thing happens to the Philippines. These numbers have been consistent in every big crisis in the world,” Leechiu said.
Apart from this, Leechiu explained that the next 10 years will be about the “transition of wealth and power” in many corporations and families, creating younger buyers in the industry. “In the Philippines, 90-plus percent of investment activity is in the property market. It will continue to be that way because of the volatility of the markets in crypto, equities market, and the bond market. All those things will just drive more people to invest in real estate.”Among developers, SMDC has unique approaches in capturing investors’ trust. Its projects are located in different parts of the country, even during the surge of the pandemic.