Showing posts with label Safety. Show all posts
Showing posts with label Safety. Show all posts

Monday, December 7, 2020

Understanding Real Estate Markets & Cycle amidst COVID 19

 


With the current situation of the country and abroad, the global markets have been affected with the COVID 19 pandemic effects to the World Economy. There are current job losses, missed opportunities and money being lost brought about by such health crisis. All industries are dependent on Real Estate Market and are heavily connected with the national economy. In our recent post last February on the Philippine economic outlook for 2020, The Philippines had slowed down and has dipped to -7.3 % based from reports from Asian Development Bank. Contractions have been seen and felt all throughout the closure of the archipelago since March 16, 2020 to June 30, 2020 (Enhanced Community Quarantine) and the post lifting of ECQ to Modified General Community Quarantine in July 2020. A lot of businesses were affected with closures particularly the Micro, Small and Medium Enterprises (MSME) sector, hotel / tourism sector, airline and travel sector. Other sectors have were also affected with this great pandemic which contributed to the negative dip of the world economy in general. These industries are co-existing and reliant with each other and the real estate sector at the same time. In a recent reports from PSA released last month, says "The Philippines records a GDP growth rate of -11.5 percent in the third quarter of 2020".

Monday, June 17, 2019

The Impact of Earthquakes and Natural Calamities in the Real Estate Industry (Part 1)

Recently, Central Luzon and other nearby areas felt the power of a 5.7 magnitude earthquake that hit the archipelago with its epicenter in the town of Castillejos, Zambales. The earthquake started at approximately 5:05 in the afternoon of that fateful day as it struck damage to homes and establishments in Metro Manila, Pampanga and other nearby areas. The damage brought about with this disaster cost some millions of pesos in damages to properties and loss of countless lives and livelihood in the town of Porac, Lubao and Floridablanca, Pampanga.