Colliers International Philippines associate director Julius Guevara said in a briefing that prospects were bright for the residential, office, commercial and hotel/leisure segments in the metropolis over the next 12 months. Demand for industrial estate, a laggard over the years, has also picked up, not from heavy manufacturing players but mostly from logistics and warehouse providers, Guevara said.
Aided by better-than-expected local economic growth and low interest rates, Colliers reported that land values in the Makati central business district (CBD) rose by 5 per cent in 2012 to 291,000 pesos (Bt213,000) a square metre and were likely to increase to 307,000 pesos in the last quarter of this year. However, this will still be lower than the 400,000-pesos/sqm valuation in end-1997 before the Asian currency crisis erupted.