Strong demand, sound economic fundamentals underpin Metro Manila market

The Philippines is currently the best performing economy in Southeast Asia with third quarter  GDP growth of 7.1 per cent and foreign exchange reserves that exceed the country’s foreign debt by 50 per cent.

This strong position is due to a decade of steadily improving macro-economic fundamentals; a story that is reflected in the real estate market. 

Some 15 years ago my first home in the Philippines was a low-rise apartment on the edge of Makati, Manila’s central business district, where my neighbours occupied wooden shanties on the ill-lit pavement outside. 

Power was sporadic, traffic and pollution a constant and the Mandarin Oriental still bore the scars of mortar fire from a recent coup.

Unlike General McArthur, after a brief visit my mother vowed she would not be returning.

Today that apartment is long gone, integrated into the Lopez Group’s Rockwell Centre, Manila’s first urban oasis, providing a world-class living and working environment.

Such large-scale, master-planned communities are now adding to the Los Angeles-like sprawl that is Metro Manila.