PHILIPPINES PROPERTY INVESTMENT 2022

The long-term prospects of the country’s real estate market remain strong with positive economic signs already being seen. For example, overseas Filipinos (OFW) remittances increased during most of last year. Many experts believe a full recovery is likely to happen once the COVID-19 pandemic passes.

The emergence of the Omicron variant derailed plans to reopen the country to tourists and could dampen prospects in the first quarter of the year. Prior to the most recent outbreak, economists at the Japan Centre for Economic Research and Nikkei had set the Philippines 2022 GDP growth forecast at 7.1%.

Philippine property investment in 2022 is directly connected to a greater real estate market recovery which may or may not begin in earnest during the next 12 months. Those searching for positive news will look to predictions from the Philippines central bank, Banko Sentral ng Pilipinas (BSP), as proof that a turnaround is on the cards.?

Companies resuming full, in-office operations would be a boost to Philippine property investment in 2022. The business process outsourcing (BPO) sector would be a key driver should there be an uptick in demand. More office space uptake creates more hiring which has historically boosted interest for residential real estate nearby