Real estate boom to continue in ’12

The real estate boom that the country has been experiencing these past few years is expected to continue through 2012, according to real estate advisory firm CB Richard Ellis Philippines.

The company said the surge in property transactions over the years was due to the expansion of the business process outsourcing sector.

CBRE Philippines chairman Rick Santos said the BPO sector would continue to fuel the growth of real estate, not only in the office space segment, but also in the residential market.

“All eyes will be towards the Philippines as the desirable ‘live, play, and work environment’ this side of the globe,” Santos said during a recent briefing.

Source: Business.Inquirer.net