Property boom rides on overseas Filipinos, BPO, Chinese gaming: analyst

ABS-CBN News

Posted at Apr 12 2019 10:10 AM | Updated as of Apr 12 2019 10:32 AM

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MANILA -- Overseas Filipinos, business process outsourcing firms and Chinese offshore gaming operations are driving demand for property during the "longest boom" that the country has seen, an analyst said Friday.

The balance between supply and demand "looks very good" with a deficit projected in the office sector, which could drive prices higher, said David Leechiu, founder and CEO of Leechiu Property Consultants.

"Philippine geography has changed, we're building close to 110 townships," Leechiu said, citing an "unprecedented level of construction."

Relatives of overseas Filipinos are buying property with remittances. Philippine Offshore Gaming Operations or POGOs is a "voracious" market, he said.

The Philippines has to make doing business in the country easier to attract more foreign investors in property, he said.