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Recently Released Market Study: Philippines Real Estate Report Q1 2013

Recently published research from Business Monitor International, "Philippines Real Estate Report Q1 2013", is now available at Fast Market Research


Boston, MA -- (SBWIRE) -- 02/13/2013 -- The Philippines Real Estate report examines the commercial office, retail, industrial and construction segments in the context of a sector on the up. After a year of outperformance in 2011 and a strong start up until H112, the outlook for the remainder for 2013 remains relatively rosy, although macroeconomic headwinds remain on the horizon.

With a focus on the principal cities of Manila, Makati City and Cebu City, the report covers the rental market performance in terms of rates and yields over the past 18 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of the government led growth on a market soon to be characterised by Public-Private Partnership (PPP) construction.

A recent pledge by the Philippine government to boost infrastructure spending throughout the remainder of 2012, as well as to improve monetary conditions suggest that a sustained uptick in construction activity is on the cards in the short-to-medium term. This will surely have positive repercussions for the industry, in the form of increased demand and most importantly a spur in supply. What's more, the much-touted PPP scheme seems to have finally taken off. There are as many as 22 infrastructure projects in the initial phase of the PPP programme, which are all set to complete their tendering process before the end of 2012.

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BMI warns, however, there may be a bump in the roadmap towards ongoing growth in the sector in the form of the present macroeconomic backdrop. Given the government's continued inability to promote growth-positive initiatives, we continue to see the Philippine economy growing well below potential over the medium term.

Key Points

-  Economy: Following stronger-than-expected Q112 growth of 6.4% year-on-year, we have upgraded the Philippines' full-year GDP growth forecast from 3.9% to 4.2%. That said, we still expect the economy to slow in the second half of the year as poor external conditions clash with a relatively healthy domestic economy.
-  Construction: The blistering increase in public construction investment in the first quarter of 2012 supports our view that conducive monetary conditions and robust government spending would bring real growth to the Philippine construction sector. Therefore, we are maintaining our forecasts for the sector, with real growth expected to reach 6.7% in 2012. Beyond 2012, we remain relatively positive towards the sector due to the government's growing ability to boost infrastructure spending as well as pertinent progress made with the government's PPP Programme and key private sector projects.

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