THE property sector may face headwinds brought by structural changes and macroeconomic challenges this year, according to JLL Philippines.
“We may see rougher currents [in 2023] due to persisting structural changes and macro-economic headwinds that are weighing down on market activities,” JLL Philippines Research Manager Karisse N. Garcia said.
One of the drivers seen by the property consultant is the business process outsourcing industry, which provides the majority of the demand for office spaces. “Lastly, the outstanding rebound of the tourism sector may buoy the performance primarily of the hospitality and retail sectors,” she added.
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