Even with the rising number of cases infected with coronavirus disease 2019 (COVID-19), experts remain optimistic of the property sector, with pockets of opportunities and prospects still in the horizon.
In a Roundtable Series hosted by Lamudi on March 11 in Makati City, property firm executive Catherine Ko said while there have been moves to delay open houses for residential projects, “such a delay does not mean a complete cancelation.”
Ko is executive vice president of Federal Land Inc. and president of Sunshine Fort North Bonifacio Realty Development Corp.
Raphael Felix, chairman of the Subdivision and Housing Developers Association, said home buying is something consumers plan well in advance.
“This should be sustained over the long term,” Felix said.
Joey Bondoc, senior manager for Research at Colliers International Philippines, noted the importance of infrastructure development as a marker of growth, citing several places that will see sustained real estate activity this year.
Bondoc said investors, developers, and end-users should look at options in Metro Manila and other rising cities, including those in Cebu, Davao, Iloilo, Bacolod, Pampanga, Cavite, Laguna, and Batangas.
The industry leaders are all looking into diversification.
Ko said after the successful run of Federal Land in the luxury and high-end market, it is high time to look into the middle-end segment in a bid to address the traffic problem and to balance their portfolio of products.
Ko added for Federal Land, this means targeting two kinds of markets: those who live in the outskirts of the metro but want a home closer to work, and those who are studying and need a residence nearer schools and universities.
Felix, who is chief executive officer of PHINMA Property Holdings Corp. said the company is considering the co-living segment.
“We won’t get into it for the fashion of it. We think there”ºs a future there,” he said.
«The property market in all its sectors–industrial, commercial, residential–is the big winner from everything that”ºs going on around the world,» Felix said.
