Real estate market to start recovery in September

THE national chapter of the Paris-based global real-estate association, Federacion Internationale des Adminstrateurs de Biens Conceils et Immobiliers (Fiabci), sees the rebound of the country’s property industry starting next month amid the ensuing Covid-19 pandemic.

Former Fiabci-Philippines President and now Chairman Architect Nestor S. Mangio cited a study pointing to that direction.

“The survey conducted by the Fiabci World Council of Experts covering 226 cities across the globe indicated expected uptrends in property prices in Metro Manila for agricultural land and detached houses in September, low-rise residences in November, and residential subdivisions in December,” he said.

Expected to bounce back next year are the prices of housing and apartment rentals in January; owner-occupied apartments or condominium units, urban lands and industrial properties in February; shopping outlets and resorts in May; office spaces in June; and hotels and retirement facilities in August.

Such bullish forecasts are among the agendas and scenarios to be discussed by Fiabci-Philippines members and officers in their upcoming annual gathering, according to Fiabci Chairman Emeritus Florentino Dulalia Jr.

“The full-day conference will culminate with Fiabci-Philippines’ Property and Real Estate Excellence Awards Night, which is held yearly to honor the industry’s top achievers, keep raising the benchmark of excellence, and instigate continued development of technologies to meet the demands of the times,” he noted.

The highly-coveted accolades will go to the winners in 16 categories: environmental (rehabilitation/conservation), heritage (restoration), master plan, hotel, convention, industrial, office, public infrastructure/amenities, high-rise and low-rise residential, resort, retail, rural, specialized, and sustainable development.

Established in the capital city of France in 1951, Fiabci has around 2,300 regular and a million associate members in 70 countries, including the Philippines, all experiencing market difficulties brought about Covid-related measures, such as telecommuting or work-from-home arrangements, last-mile distribution or door-to-door deliveries, and travel restrictions.

As a result, Fiabci-Philippines is having a bias for future-ready property developments and vital technological breakthroughs in construction, urban planning and architectural design concepts.

“Those innovations may include Covid-preventive features such as offices with air filtration devices, doorless public toilets and washrooms, touchless elevators and light switches, compartmentalized or segmentized factory production lines, acrylic- or glass-partitioned office desks, and intuitive floor layout for social distancing in both corporate and public premises, among others,” Mangio stressed.

Article and Photo originally posted by Business Mirror last August 17, 2021 and written by Roderick Abad.