Philippines Real Estate market is expected to reach USD 39 billion by 2020: Ken Research

Future growth of Philippines Real estate market is expected to be led by growth in construction, rising personal disposable incomes, growing BPO sector, rising remittances from OFW

The market leader, Ayala Land Inc. is expected to maintain focus on continuous expansion of property development in and outside metro Manila.

Ken Research announced its latest publication on “Philippines Real Estate Market Outlook to 2020 - Driven by Rapid Growth of BPO Sector and Increased Demand of Retail and Commercial Properties” which provides a comprehensive analysis of the real estate industry in Philippines. The report covers various aspects such as market size of real estate in Philippines, segmentation on the basis of types of sectors, sales and rental market, online real estate market, real estate brokerage market, financing market, market share of major players in the Philippines real estate industry. The report is useful for industry consultants, facility management companies, business owners, real estate managers and advisors and new players venturing in the market.

Rapidly growing remittances from overseas Filipino workers, a rapid shift from offline real estate purchase to online portals, a surging IT-BPO sector leading to a huge demand for office spaces and rapid employment generation, is escalating the demand for real estate market in the Philippines, according to the Research Analyst, Ken Research.

The Philippines real estate market has been penetrated with high competition arising from a large number of real estate developers in the market. The major real estate players in the market include Ayala Land Inc, S.M Prime Holdings, Megaworld Corporation and Robinson Corporation. The revenues of the industry have grown at a CAGR of 17% from 2010 to 2015.

According to the research report, the revenues from Philippines real estate market is anticipated to post the revenues to USD 39 billion by 2020 due rapid expansion in the real estate construction projects and increasing urbanization. The demand is also expected to rise due to a growth in the number of BPO and other multinational companies.

“In the current scenario, it is highly important for the real estate developers to meet the growing demand for the real estate properties in Philippines. It is important to solve the problem of housing backlog in the market. It is also important to for the government to boost infrastructure spending and also provide incentives to the real estate developers so that they shift their focus towards socialized housing” according to the Research Analyst, Ken Research.