The residential property market in the Philippines has been severely hit by the Covid-19 outbreak. Photo: EPA-EFE The residential property market in the Philippines has been severely hit by the Covid-19 outbreak. Photo: EPA-EFE
The residential property market in the Philippines has been severely hit by the Covid-19 outbreak. Photo: EPA-EFE

Falling OFW remittances, rising unemployment to push down property prices in Philippines by 15 per cent

  • Remittances from overseas Filipino workers, the main drivers of affordable and mid-income housing, are expected to drop by as much as US$6 billion this year
  • Demand from mainland buyers and Chinese-operated online gaming companies is expected to fall due to the recession-induced slowdown

Topic |   Property investment
The residential property market in the Philippines has been severely hit by the Covid-19 outbreak. Photo: EPA-EFE The residential property market in the Philippines has been severely hit by the Covid-19 outbreak. Photo: EPA-EFE
The residential property market in the Philippines has been severely hit by the Covid-19 outbreak. Photo: EPA-EFE
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