News: CB Richard Ellis – Real Estate Philippines Still Safe
A Friday article from Philippine Inquirer reports that worldwide property consultant CB Richard Ellis has stated that the Real Estate Philippines sector is still a safe haven for property investments. Due to the fallout of financial instruments and diversified portfolio investments in the U.S., people will now learn their lesson and go back to traditional asset investments such as real estate.
According to Rick Santos, Chairman of CB Richard Ellis Philippines, these now play-it-safe investors will look for “companies which have a physical presence that offers face-to-face customer experiences”. I believe this statement is very appropriate and logical because Philippine Real Estate offers these above-mentioned qualities that contrast to the “toxic” financial instruments of before – complicated and backed up only by paper with signatures . In short, properties are HARD assets that you can actually feel and touch unlike diversified portfolios.
In addition, unlike paper investments, land or condominiums never disappear nor go bankrupt. We just saw the Americans get so greedy that they put their money into highly volatile instruments with the hope of higher yields, and they get paper in return. Now due to their recent crisis, they will definitely revert back to more conservative asset plays like real estate. Now since the American property sector is not so attractive nowadays, they will look for more stable countries with REAL demand for property – like us Filipinos (More on our Population Demand on this blogpost: http://www.realestatephilippinesblog.com/philippine-properties-still-good-bargains/.)
Rick Santos also says that since we Pinoys rely on our largely-populated human resources and not on exports, we will not be that much affected. It coincides with this article blogpost (OFW workers and growing population are the main drivers of real estate growth here.
Again, this is yet more good news for our Real Estate Philippines forefront, as also supported by previous news articles blogposts (click here for those – http://www.realestatephilippinesblog.com/category/real-estate-philippines-news/). This time, the statement is not just from Ayala Land, but from a very credible source with TONS of experience in the global real estate industry. CB Richard Ellis is a leading property consultant firm, and we should do well in also hearing what they have to say. You may say they are biased, but I do not believe they will risk their long-built reputations to make such bold statements, so I say we should trust them