PHL home prices among world’s fastest growing

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MANILA, Philippines – The Philippines was among the top performers in terms of growth in housing prices worldwide, according to a survey by research house Global Property Guide (GPG).

In GPG’s global house price survey for 2013, the Philippines was the fourth top performer with the average price of three-bedroom condominium units in the Makati central business district rising 10.56 percent in 2013 following annual increases of 4.85 percent in 2012 and two percent in 2011.

“Demand remains strong, as indicated by soaring real estate loans,” the research house said.

It noted that based on data from the Bangko Sentral ng Pilipinas, the volume of real estate loans rose 38.5 percent year-on-year to P776.65 billion in September last year.

Citing real estate advisory services firm CBRE Philippines, GPG said the Philippine housing market is expected to accelerate this year, to be supported by the rising number of foreign investors as well as growing business process outsourcing industry.

The growth in the local housing market is seen amid the country’s favorable economic conditions.

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The economy grew 7.2 percent in 2013, faster than the 6.8 percent expansion posted in 2012.

For this year, the government has set a 6.5 to 7.5 percent economic growth target.

Topping GPG’s list of countries with rising housing prices was United Arab Emirates with average prices of housing units in Dubai growing 21.52 percent in 2013.

This was followed by Estonia with average housing prices up 16.55 percent, while Taiwan came in third with average housing prices increasing 14.46 percent last year.

China placed fifth on the list as the average cost of housing units in Shanghai climbed 10.13 percent in 2013.

Out of the 42 countries covered by GPG’s survey, 27 markets showed housing price increases

“House prices are rising in many more countries than not, and the momentum trend is strongly upwards,” GPG said.

GPG which provides information on residential property development covers market trends in 101 countries.

By: Louella Desiderio, The Philippine Star, March 23, 2014

Teletech

MR. FREDRICK SANTOS
Chairman
CB Richard Ellis Philippines, Inc.
10th Floor, Ayala Tower One & Exchange Plaza
Ayala Avenue, Makati City 1226

Dear Mr. Santos,

We would like to thank CBRE particularly your Emergency Team for the support and Assistance that they have provided to our sites in Luzon (Pampanga, Cainta, Ecoplaza, Roxas and Sta. Rosa) that rolled our Emergency Response Program (ERP) Drills.

As a result of your team’s active support and participation, Teletech’s ERP program has been further strengthened and we were able to get good words from our visiting Global Facilities Director, Christopher McLuhan when he witnessed the Sta. Rosa DC Facilities Team have done to roll out such program.

Your onsite and head support team’s skills and support mean a lot to us in attaining successful drill roll outs and will ensure that future incidents and challenges will be properly dealt with because of the solid ERP and DRP programs that we have established.

Again, thank you very much and more power to your company.

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