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Top Real Estate News of the Week – Jan. 13 – 19, 2023

Need to catch up with what’s happening in the Philippine real estate industry? Here’s a roundup of the top real estate news this week (Jan. 13-19, 2023).

  1. Prices of construction materials slow in November

The Philippine Statistics Office reported that the increase in retail and wholesale prices of building materials in Metro Manila slowed down in November compared to the previous month. The PSA attributed this to the lower annual changes in the indices of plumbing materials and miscellaneous construction materials. Philippine Star

  1. First hotel in Panglao Shores expected to open by Q1 2024

Panglao Shores, a 50-hectare mixed-use estate in Bohol will have its first hotel up and running early next year. It will have 188 room keys and a management group made up of an international company. Panglao Shores will add five more hotels and resorts in addition to a residential and retail area. Businessworld

  1. Megaworld to build hotel in Palawan

Megaworld is building its fourth Savoy Hotel in Palawan to capitalize on the province’s tourism potential. Savoy Hotel Palawan is the company’s first hotel property in the region and will have 10 stories made up of 306 guest rooms and suites. Target for its opening is in 2028. Philippine Star

  1. ‘Pambansang Pabahay’ win-win for property owners and ISFs

Secretary of housing, Jose Rizalino Acuzar, said the Pambansang Pabahay program of the government will be “advantageous” for the real estate owners as well as informal settlers (ISF). According to Acuzar, the program’s primary focus is on developing lands for human settlements near the sources of livelihood of the target beneficiaries. This means a proper house for ISFs and at the same time, help in the development of land for owners that can’t afford to do so on their own. Real Estate News.PH

Planning to build your dream home or a second house? Get an idea of how much it’s going to take in our article on house construction cost in the Philippines.

Browse through our catalog of helpful tips when it comes to real estate properties in our resource page. And of course, you can get more real estate news here at Enta so bookmark us now.

Featured Image: Philippine Star | Jesse Bustos