NOBODY wants to be caught unaware by a bubble burst, which many fear might happen soon.
The property sector has been experiencing a boom because of an increasing demand for office spaces, residential condominiums and commercial buildings.
More business processing outsourcing offices are being opened and a new socio-economic class is emerging, composed mostly of families of overseas Filipino workers (OFWs). Last year, OFWs remitted to the country US$24.3 billion and invested US$7 billion on property, particularly residential condominiums.
But until when will this high demand for property investments last?
Uncertainties in the market abound, and these are often unavoidable.
To help investors prepare for the worst, real property expert Prof. Enrique Soriano III will conduct a seminar, “Anticipating the real estate bubble? Manage your growth during uncertainties,” on Friday, Dec. 4, 2015, from 10 a.m. to 4 p.m. at Harold’s Hotel, Cebu City.
Professor Soriano has 27 years experience in the property sector and is known as the family business coach in ASEAN.He is also a senior advisor of Wong and Bernstein Group.
Joining him as guest speaker is Claro Dg. Cordero Jr., associate director and head of research and valuation at Jones Lang LaSalle Philippines, Inc.
In a speech last July, Socio-economic Planning Secterary Arsenio Balisacan said that while “opportunities abound and growth prospects are very encouraging,” several major challenges need to be addressed to make the most of the property sector’s potential.
These include weak public infrastructure, restrictive ownership rules, access to financing and “low property market transparency.”
A low-interest environment and rising demand have fueled the global property sector in recent years.
But of the four phases of the real estate cycle–recovery, expansion, hypersupply or recession–is the Philippines still in expansion or has is it started to veer toward oversupply? Seminar participants can interact with Soriano and Cordero on the matter.
Limited seats are available for the seminar. For more details and bookings, please contact Che/Jeric at (02)556-9707, 0915-1813057 or 0915-9108686 or email info@ octopusbranding.net. (PR)