By Jenniffer
B. Austria | Posted on Mar. 06, 2013 at 12:01am
[
manilastandardtoday.com]
Jones Lang
LaSalle, a real estate services company, expects some 149,000 residential units
to be completed over the next five years, on increased purchasing power of
Filipino consumers.
JLL associate
director Antonio Sabarre said in a news briefing top property developers SM
Development Corp., Megaworld Corp. and Ayala Land Inc. were expected to build
half of the residential units in the period 2013 to 2018.
The remaining
half would be shared by other property developers, including DMCI Homes,
Robinsons Land Corp., Filinvest Land Inc., Eton Properties Philippines Inc. and
Vista Land and Lifescapes Inc.
Sabarre said
the 149,000 units which were set for completion over the next five years would
be significantly higher than the 135,650 units completed from 1999 to 2012.
JLL regional
director and country manager David Leechiu said demand for residential projects
across all sectors was being fueled by remittances from Filipino workers overseas,
strong domestic economic growth and increased purchasing power of business
process outsourcing employees.
JLL said at
least 55 percent of the units would cater to the affordable market, with units
costing from P1.5 million to P3 million.
Most of the condominium developments will rise in Quezon City, Ortigas,
Mandaluyong, Makati, Fort Bonifacio and Alabang.
Leechiu also
downplayed concerns about housing bubble, given the steady introduction of
residential projects in the market. He
said the debt levels of banks and the government sector continued to be low and
that demand from housing buyers remained strong.
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