Filipino Developers Bullish on Philippine Economy?
| According to a recent Saturday article by Philippine Inquirer, Filipino developers are bullish on the prospects of the Philippine Economy despite the Times. According to Bansan Choa, national president of the Subdivision and Housing Developers Association (SHDA), Filipinos are not worried about the economy and continue to buy homes simply because they have to answer their basic need of providing shelter for their families.In addition, our financial position is much better now than it was in the 1997 Asian Crisis since the Pag-Ibig fund allocation has increased to p30 billion pesos and the Government-owned Home Guaranty Corporation has protected housing loans of the banks themselves. In fact, every million invested in Philippine real estate translates to p16.6 million worth of economic activity, according to SHDA Chairman Eduardo Alunan. Of course, this is very encouraging news for us Filipinos in the light of the current economic slowdown.
Another reason for their optimism is that they have cement prices locked at lower prices through deals with Cemex and Holcim. Of course, this would give Filipino Developers much more room to work with in terms of keeping costs at bay. As I have already mentioned in my previous blog posts about our resiliency… (See the links below for more) |
| • http://www.realestatephilippinesblog.com/more-positive-real-estate-philippines-news/ , • http://www.realestatephilippinesblog.com/still-more-positive-philippine-real-estate-outlooks/ • http://www.realestatephilippinesblog.com/part-2-of-inquirer-article-on-real-estate-philippines/ |
| … things are not as bad as they seem to be. As I said before, these developers know what they are doing, and of course they have done their homework to know that their businesses will indeed thrive and even prosper now. |
| Watch out for the 2nd half of the year, I believe this is where things will turn out well for Philippine Real Estate |
Tags: bansan choa, Eduardo Alunan, home guaranty corporation, SHDA, Subdivision and Housing Developers Association