More Positive News: Developers Loan More
This is VERY interesting news in the lights of these times: Banks actually LENDED MORE to Philippine Property Developers this quarter! Bangko Sentral ng Pilipinas reports that “exposures of universal and commercial banks to the real estate sector — mostly in the form of loans and investments — reached P223.9 billion in September, 5.1% higher compared to the previous quarter’s P213.1 billion.”
This Christmas article just came in from Business World (http://www.bworldonline.com/BW122508/content.php?id=023), and the official figures point out that despite the global economic downturn, we Filipinos seem unfazed and Philippine Developers are still on course with their on-going projects, which should make investors sleep more soundly.
Bangko Sentral also reports that “additional exposure for the quarter was due to the 3.7% growth in real estate loans, to P215 billion, as well as investments in stocks and bonds issued by property firms, which grew by more than half to almost P9 billion”. Again, the figures are very reassuring to investors of the Real Estate Philippines sector.
Obviously, this goes inline with Ayala Land‘s moves and statements about our Philippine Property sectors (as found in http://www.realestatephilippinesblog.com/news-ayala-land-wants-fti-complex-property/ and http://www.realestatephilippinesblog.com/news-ayala-has-positive-outlook-on-real-estate-philippines/), along with CB Richard Ellis’ ones recently (http://www.realestatephilippinesblog.com/news-real-estate-philippines-still-safe/).
Clearly, we Filipinos should not be too scared. Remember, WE ARE NOT IN RECESSION, THEY ARE. With regards to the future, of course not even the experts can be perfect, but they don’t call them experts for nothing, so it would be better for us to listen and listen well to what’s really going on 
Favor pls, can you cite which banks offer good housing loan rates.
thanks!