Philippines condo supply to peak in 2014

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the-columns-ayalaThe supply of residential condominiums in the Philippines will likely peak in 2014 and taper in the following years as developers fulfill previous commitments and turn more conservative in bringing more inventory to the market, property consulting firm Jones Lang Lasalle said according to a report in the Philippine Inquirer.

“A glut won’t happen because the units are delivered in a staggered way,” JLL associate director Antonio Sabarre said in a recent briefing on the property sector.

At the same time, he said, the new residential units coming into the market are priced at $34,000 to $ 70,000, thus only addressing the housing backlog for this segment. He said demand for units in this price range would remain strong in the next few years.

“For those asking if there’s a bubble, we don’t see it,” Sabarre said.

On an industry-wide level, Sabarre said there would be a tapering in the delivery of new residential units after 2014.

“More landlords and developers now are being more conservative on building more residential units. This is their way of planning for the future,” he said.

Based on JLL’s estimates, a little less than 60,000 new residential units will be delivered by 2014. The level will slow down to less than 45,000 by 2015 and around 30,000 by 2016. The level is seen easing to less than 20,000 by 2017 and to close to 10,000 levels in 2018 and 2019.



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The supply of residential condominiums in the Philippines will likely peak in 2014 and taper in the following years as developers fulfill previous commitments and turn more conservative in bringing more inventory to the market, property consulting firm Jones Lang Lasalle said according to a report in the Philippine Inquirer. “A glut won’t happen because the units are delivered in a staggered way,” JLL associate director Antonio Sabarre said in a recent briefing on the property sector. At the same time, he said, the new residential units coming into the market are priced at $34,000 to $ 70,000, thus only...

the-columns-ayalaThe supply of residential condominiums in the Philippines will likely peak in 2014 and taper in the following years as developers fulfill previous commitments and turn more conservative in bringing more inventory to the market, property consulting firm Jones Lang Lasalle said according to a report in the Philippine Inquirer.

“A glut won’t happen because the units are delivered in a staggered way,” JLL associate director Antonio Sabarre said in a recent briefing on the property sector.

At the same time, he said, the new residential units coming into the market are priced at $34,000 to $ 70,000, thus only addressing the housing backlog for this segment. He said demand for units in this price range would remain strong in the next few years.

“For those asking if there’s a bubble, we don’t see it,” Sabarre said.

On an industry-wide level, Sabarre said there would be a tapering in the delivery of new residential units after 2014.

“More landlords and developers now are being more conservative on building more residential units. This is their way of planning for the future,” he said.

Based on JLL’s estimates, a little less than 60,000 new residential units will be delivered by 2014. The level will slow down to less than 45,000 by 2015 and around 30,000 by 2016. The level is seen easing to less than 20,000 by 2017 and to close to 10,000 levels in 2018 and 2019.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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