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Top Real Estate News of the Week – Oct. 7-13, 2022

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 (Oct. 7-13, 2022).

  1. Office space demand peaks in third quarter

A study by Leechiu Property Consultants revealed that Philippine office demand reached 313,000 square meters in Q3 2022. It was the highest level since January 2020. The property consultant said this showed just how resilient the office segment is in the face of global uncertainties. Real Estate News.PH

  1. JLL Philippines tapped as Strategic Real Estate Advisor by Araneta Group

Property developer Araneta Group is tapping the services of JLL Philippines as its partner and real estate advisor. The real estate agency will handle the exclusive office leasing, strategy, and advisory services for space offerings of Araneta City. The 35-hectare property in Quezon City is designed as a leisure, entertainment, office, and residential hub. Phil. Daily Inquirer

  1. PropertyGuru recognizes excellence in property development

Southeast Asia’s leading property technology company recently held its 10th Philippines Property Awards. The ceremony hailed Filipino excellence in property development, architecture, and design, dishing awards in 62 categories. Robinsons Land won top honors as the best Developer. Real Estate News.PH

  1. Higher interest rates may affect real estate recovery 

Cushman & Wakefield Philippines, a global real estate services company, said that the aggressive rate hikes by the Bangko Sentral ng Pilipinas (BSP) could derail the recovery of the real estate sector. In September, the BSP hiked its benchmark policy rate by 50 basis points to 4.25% in its effort to arrest inflation. Real Estate News.PH

  1. DHSUD launches sixth housing project in two weeks

A new housing project in Barangay Nangka, Marikina City saw its groundbreaking ceremony recently, spearheaded by the Department of Human Settlements and Urban Development. It’s the sixth time in two weeks that such an event has been held under the government’s Pambansang Pabahay para sa Pilipino Program. DHSUD Secretary Jose Acuzar said that the 6.5 million housing need of the country can be achieved through the program. Real Estate News.PH

  1. Pag-IBIG home loan releases grow 27% to record-high P83.31B in Q3 2022

Pag-IBIG Fund officials said the agency has released a total of P83.31 billion in home loans in the last three quarters. They added that this is so far the highest ever amount that Pag-IBIG has released for the period January to September. Out of this amount, P5.72 billion were fore socialized home loans that benefitted 13,131 Pag-IBIG fund members from the minimum-wage and low-income segments. Businessworld

  1. Chimes Greenhills offers ready-for-occupancy units

Chimes Greenhills, a project of RLC Residences, has made available RFO units for home seekers wanting  to reside in San Juan City’s premiere business and commercial district. The residential condominium is near popular schools like La Salle Greenhills and Xavier School. It is also adjacent to malls such as Robinsons Galleria and the Greenhills Shopping Center. Businessworld

Planning to purchase a house through Pag-IBIG? Here’s everything you need to know about the agency and the benefits for members. Get more real estate news here at Enta. Browse through our articles on helpful tips when it comes to real estate properties in our resource page.

Image Credit: Storm Crypt | Flickr