THE Philippines soared higher among Asia-Pacific’s top markets in real estate investment and development prospects, emerging among the top bets especially in the residential, office and retail property segments.
Based on Urban Land Institute (ULI) and PricewaterhouseCooper’s research “Emerging Trends in Real Estate 2014,” Manila ranked fourth among 23 regional markets graded based on investment prospects, next to Tokyo, Shanghai and Jakarta.
Manila climbed in this ranking by eight notches from 12th place last year.
8th place
Manila likewise moved a notch higher at eighth place in terms of development prospects, compared to ninth place last year. The other top markets in development prospects were: 1. Jakarta, 2. Tokyo, 3. Shenzhen, 4. Shanghai, 5. Guangzhou, 6. Beijing, 7.
China secondary cities. John Fitzgerald, chief executive of ULI Asia-Pacific, said during the presentation of the report Thursday night that Tokyo and Manila were “big movers” in this year’s survey. “The Philippines is drawing a lot of mentions this year within our report and there’s a perceived real turnaround in momentum here, although there’s still perspective that it’s hard to get money from the market.
But it still ends up as the most preferred among the emerging markets,” Fitzgerald said. /INQUIRER.NET