Real Estate is Growing Strong

The Ortigas Center

The real estate industry is still booming.  Recent reports from economic briefings state the need for more housing structures, vertical and horizontal.  While there has been a dramatic increase in real estate industry players, the market growth for condominium and subdivision end-users has been robust for the past seven years.  The packaging of the housing portfolios from developers with tie ups with universal banks have been very helpful in keeping the demand high and steady.

The widening of major avenues in the periphery of the metropolis has been instrumental in pushing the demand for construction of more RFO houses.  The Manila East Road begins where Ortigas Extension ends and the development of subdivisions further east of the metropolis is very visible along this stretch of free highway, one of the two remaining "toll-free" major thoroughfares just outside of Metro Manila.  Angono, Taytay and the Binangonan area are now the hotbed of sales and marketing professionals.  As the saying goes, "bees go where the honey is."

This growing confidence in the real estate sector can be attributed also to the professionalization of the real estate selling practice. Since its effectivity in 2009, RESA Law has planted the seed of accountability, responsibility, fairness and professionalism in most of the marketing practitioners.  While there are still others who work underground and incognito, real estate practice has been improving and the prestige of the profession has grown tremendously.  This year might be the last year where graduates of other courses can take the board exam for Licensed Real Estate Brokers.  The Real Estate Brokers course will now produce its first ever graduates from reputable colleges and universities.

The first semester of 2014 has shown remarkable visible construction progress all over the country, most notable of which is the completion of the Philippine Arena in Bocaue, Bulacan.  While this mammoth world class project got nothing to do with any of the top real estate developers of the country, it nevertheless set a new standard on what this nation can accomplish and deliver.  The rippling effect of progress is being stirred by the sheer buzz that it created around the world.  The ripples will surely come in waves.

Just hope that wave doesn't turn into a tsunami.