BREAKING

Sunday, November 30, 2014

The State of Real Estate in the Emerging Markets


Wazzup Pilipinas!

More than 60 percent of renters in a recent survey of online house-hunters cite cost constraints as the primary reason why they leased their home. The top of mind reason for Filipinos who choose not to buy property is "affordability."

Here are the key takeaways from the research:
  • Affordability emerged as the key reason why many Filipinos choose not to buy their own home
  • Nearly three-quarters of buyers cited security as their primary motivation for purchasing a home
  • Two-thirds of the real estate agent surveyed are expecting growth of 8% or higher in the property market this year. The country’s real estate market has emerged as one of the most promising in the Asia Pacific region
Global property website Lamudi recently released a survey report indicating the situation of real estate in the emerging markets. The report, Real Estate in the Emerging Markets, provides a comprehensive overview of the property sector in 16 emerging countries, including the Philippines.

Based on a series of online surveys conducted with house-hunters and real estate agents in each country, as well as onsite data from Lamudi’s global network of websites, the research examines the habits of online property-seekers, while offering insights into the future of the property sector based on interviews and surveys with local property experts.




The customer survey examined house-hunting habits among buyers and renters. For renters, affordability emerged as the key reason why many Filipinos choose not to buy their own home. More than 60 percent of renters surveyed said they could not afford to buy property. For buyers, the main driver for owning property is security. Nearly three-quarters of buyers cited security as their primary motivation for purchasing a home.

According to the survey of real estate agents, the country’s economic outlook is seen as the top constraint on the property market, reflecting current concerns about a potential slowdown. However, agents and brokers remain overwhelmingly optimistic about the future of the market. More than 90 percent describe their outlook for the next 12 months as positive.

Lamudi’s Global Co-Founder and Managing Director, Kian Moini, said: “The primary conclusion that we have drawn from our research is that the future for the Philippine property sector is extremely bright. In fact, two-thirds of the real estate agents we surveyed are expecting growth of eight percent or higher in the property market this year. The country’s real estate market has emerged as one of the most promising in the Asia Pacific region.”



The report features a series of in-depth interviews with key figures from the property industry of each country, including Jose Romarx Salas, Head of Research and Consulting at Pinnacle Real Estate Consulting Services.

Mr Salas said the key challenge for the Philippine property market was finding enough land to accommodate development. “In Metro Manila, that’s the challenge: looking for suitable land. Some developers are even willing to bid high, which pushes up already skyrocketing land prices in the capital,” he told Lamudi.



The 16 countries covered in the report are: Indonesia, the Philippines, Myanmar, Bangladesh, Pakistan, Sri Lanka, Jordan, Saudi Arabia, Nigeria, Kenya, Tanzania, Morocco, Ghana, Ivory Coast, Mexico and Colombia.



The full report is presented in an easy-to-read online format, available for viewing on the Lamudi website. Visit www.lamudi.com.ph/research.

About ""

WazzupPilipinas.com is the fastest growing and most awarded blog and social media community that has transcended beyond online media. It has successfully collaborated with all forms of media namely print, radio and television making it the most diverse multimedia organization. The numerous collaborations with hundreds of brands and organizations as online media partner and brand ambassador makes WazzupPilipinas.com a truly successful advocate of everything about the Philippines, and even more since its support extends further to even international organizations including startups and SMEs that have made our country their second home.

7 comments:

  1. Somehow, the facts that are laid down here are comprehensive and they answered to some of the actual reasons why Filipinos don't buy properties.
    -Ma. Ana Francesca P. Ison IV-Marx PCSHS

    ReplyDelete
  2. It's nice to see the advances our country is making in this neat, creative and convenient report

    ReplyDelete
  3. Real estate properties are on the rise. And the best time to purchase a property is NOW. In buying a house, however, we need to choose the right investment wisely. Choose Micara Land. Micara Land, Inc. Established in 2014, Micara Land, Inc. seeks to provide household heads with the housing that expresses the care they have for their families. House and lot properties in its project in Tanza, Cavite are priced starting at below Php 1M, or only Php 5,567/mo via Pag-IBIG for 30 years for a 3-bedroom house and lot. Only 30 minutes away from Coastal Metro Bus Station. Check it out: http://www.micaraland.com

    ReplyDelete
  4. It's really nice and meanful. it's really cool blog. Linking is very useful thing.you have really helped lots of people who visit blog and provide them usefull information. commercial real estate photography

    ReplyDelete
  5. I am really enjoying reading your well written articles. It looks like you spend a lot of effort and time on your blog. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work. marble falls real estate

    ReplyDelete
  6. Very awesome!!! When I seek for this I found this website at the top of all blogs in search engine. real estate on lake lbj

    ReplyDelete
  7. I think I have never seen such blogs ever before that has complete things with all details which I want. So kindly update this ever for us. mortgage interest

    ReplyDelete

Ang Pambansang Blog ng Pilipinas Wazzup Pilipinas and the Umalohokans. Ang Pambansang Blog ng Pilipinas celebrating 10th year of online presence
 
Copyright © 2013 Wazzup Pilipinas News and Events
Design by FBTemplates | BTT