Southeast Asia Outlook 2023: Bouncing Back Stronger
Southeast Asia (SEA) is expected to be one of the leading sources of growth for the global economy as the United States and Europe tiptoe around a potential recession.
Our latest paper explores how Southeast Asia real estate market is positioned to develop given the latest economic and property trends. We look at the impact of China’s re-opening and rising interest rates and provide our views on investment opportunities, rents and capital value outlook for major property markets in SEA.
The Philippines’ Gross Domestic Product (GDP) continued its growth trajectory, recording a full-year growth of 7.6% in 2022 from 5.8% a year ago. The latest growth is the fastest since 1976 and surpasses the government’s growth target range for the year of 6.5%-7.5%, owing to the buoyant household spending and services sector which offset the slower growth of the industry sectors, particularly in the manufacturing and construction industries. For 2023, the growth target is set at a range of 6.0%-7.0%, weighing the impacts of the external headwinds and the rising level of prices.
View the report to learn more. External Link