THE country’s property market is expected to start bouncing back in the last quarter of the year, or even as early as next month, according to the national chapter of the Paris-based International Real Estate Federation (FIABCI).
Former FIABCI-Philippines president and now chairman Architect Nestor S. Mangio cited a survey covering 226 cities across the globe as pointing in that direction.
“The survey conducted by the FIABCI World Council of Experts covering 226 cities across the globe indicated expected uptrends in property prices in Metro Manila for agricultural land and detached houses in September, low-rise residences in November, and residential subdivisions in December,” Architect Mangio said.
For next year, expected to recover are the prices of housing and apartment rentals in January; owner-occupied apartments or condominium units, urban lands and industrial properties in February; shopping outlets and resorts in May; office spaces in June; and hotels and retirement facilities in August.
Such projections, according to FIABCI chairman emeritus Florentino Dulalia Jr., are among the agendas and scenarios to be discussed by the members and officers of FIABCI-Philippines in its forthcoming annual conference.
“The full-day conference will culminate with FIABCI-Philippines’ Property and Real Estate Excellence Awards Night, which is held yearly to honor the industry’s top achievers, keep raising the benchmark of excellence, and instigate continued development of technologies to meet the demands of the times,” remarked Dulalia, who was FIABCI World president from June 2020 to May 2021.
The much-coveted awards will go to the winners in 16 categories such as environmental (rehabilitation/conservation), heritage (restoration), master plan, hotel, convention, industrial, office, public infrastructure/amenities, high-rise and low-rise residential, resort, retail, rural, specialized, and sustainable development.
Founded in 1951 in Paris, France, FIABCI has around 2,300 regular and amillion associate members in 70 countries, including the Philippines, all experiencing market challenges on account of covid-related measures such as telecommuting or work-from-home arrangements, last-mile distribution or door-to-door deliveries, and travel restrictions.
Consequently, FIABCI-Philippines is having a bias for future-ready property developments and relevant technological breakthroughs in construction, urban planning and architectural design concepts.
“Those innovations may include covid-preventive features such as offices with air filtration devices, doorless public toilets and washrooms, touchless elevators and light switches, compartmentalized or segmentized factory production lines, acrylic- or glass-partitioned office desks, and intuitive floor layout for social distancing in both corporate and public premises, among others,” Architect Mangio added.