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Philippine Property Market News (May 2020)

Claro Cordero Jr. • 01/06/2020
Cushman & Wakefield Philippines is pleased to present the May 2020 issue of its Property Market News report. In this report, we take a look at the latest updates from the local office, retail, hospitality and logistics sectors as the country slowly eases its lockdown restrictions.

 

  • The Philippine GDP growth rate contracted by 0.2% in Q1 2020 - the first since 1998 at the height of the Asian financial crisis. Several real estate developers have also reported a downward movement of profits as economic activities were halted for more than two months. 

  • Meanwhile, shopping malls in Metro Manila have partially resumed operations under modified enhanced community quarantine (MECQ) beginning May 16, 2020.
 

The above is an excerpt of the May 2020 report. To read the full report, click on the Download button on the right.