Philippine Economy – November 2012

hello everyone,

it’s 33 days till christmas and again, what a year it has been for the philippine real estate market. and our economy in general.

so much positive news going for our country, namely :

1) appreciation of the Philippine Peso : $ 1 = Php 41.10

2) stock market hits a new high yesterday : 5534.18 ( best performer in asia )

3) credit upgrades from : moody’s, fitch group, standard & poor

4) bpo revenues – 24% growth

5) unemployment rate – 7.9%

6) ofw remittances – Php 10.13B ( june 2012 ), up 5.1% from june 2011

7) property values up : 10% – 70% depending on the location

8) banks are very liquid, interest rates ranging from 6.5% – 8%

9) tourism is up

We are now considered as one of the “emerging markets” in the world and also “Tiger Cub Economies” in Southeast Asia together with Indonesia, Malaysia and Thailand.

Foreign direct investments are up and there is just so much development everywhere.  Thanks to increased infrastructure the government is doing which investors see as a vital need in order to spur growth.

There’s actually so much more to talk about in relation to the effects these positive news has on the Philippine Real Estate Market but for now, I will have to agree with all other articles coming out that things are looking bright for the Philippines.

Please take note that i will be doing my regular year end market update which is much more comprehensive than this.

Good day …..

 

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