The real estate industry had a slower-than-expected recovery in the first half of 2024. However, the prospects are favorable for a better performance for the rest of the year because of a surprisingly resilient economy. Another good year.

The McKinsey Report released on March 7 is a good reference point to assess whether the economy can provide a favorable 2024 to the industry. Using the metrics set forth by the said report, the Philippines may have achieved a soft landing, at the very least, and could yet have another good year in terms of economic growth.

Lobien Realty Group sees the real estate sector continuing its recovery trajectory in 2024.

For the Metro Manila office space segment, annual demand will reach 400,000 sqm while new supply will be at about 500,000 sqm, resulting in vacancy rates easing to less than 15 percent. Average rental rates, however, are seen staying in the P1,100-per-sqm level.

Written by: Sheila Lobien

April 21, 2023

Cavite is undeniably one of the hottest real estate destinations south of the National Capital Region (NCR).

It is considered an emerging powerhouse in real estate as it is strategically positioned; has a population of 4.4 million with an average age of 25; and has seven major cities, including the weekend go-to destination that is Tagaytay City.