Why 2019 could be a 'good year' for property sector

ABS-CBN News

Posted at May 21 2019 10:32 AM | Updated as of May 21 2019 10:47 AM

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MANILA – Demand for office and residential space, coupled monetary policy easing will help make 2019 a "good year" for the property sector, a consultant said Tuesday.

Business Process Outsourcing and the Philippines Offshore Gaming Operations or POGOs drive office space rentals in Metro Manila, Pinnacle Real Estate Consulting Services head of research Jose Romarx Salas told ANC.

Overseas Filipino workers and Chinese nationals are the top buyers of residential units, he said.

The Bangko Sentral ng Pilipinas cut the benchmark interest rate by 25 basis points to 4.5 percent in May. It also announced a gradual 200-basis point cut in the reserve requirement ratio for banks.