The Philippine property sector’s recovery is expected to continue this year, as business process outsourcing (BPO) companies drive office space demand, Colliers said on Thursday. READ:
Metro Manila’s skyline is seen in this Sept. 3, 2022 file photo. — PHILIPPINE STAR/ MIGUEL DE GUZMAN
Even with companies implementing work-from-home or hybrid work setups, he noted a substantial demand from BPO companies, particularly those from the healthcare service segment.ce take-up outside of Metro Manila. They are now not just looking at Metro Manila as an ideal oIn 2022, total office transactions outside Metro Manila rose to 222,000 sq.m. from 113,000 sq.m. in 2021. Colliers said 60% of provincial transactions came from Cebu.
Colliers said 20,000 condominium units were sold in the pre-selling market in 2022, better than 13,300 units sold in 2021. “In Metro Manila, previously, it was the mid-income and upscale segment that dominate, from P3.2 million to P8 million per unit but now the norm is the P8 million dominating the demand,” Mr. Bondoc said.
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