The real estate market is starting to show signs of a pickup as the overall office vacancy rate in Metro Manila dropped for the first time since the start of the pandemic, a leading property research and consultancy firm said.
The average office vacancy rate in Metro Manila further climbed to reach a new record-high of 16.2 percent in the second quarter this year as the net takeup of office space remained negative, a real estate advisory firm said.
The overall office vacancy rate in the country posted a new high in the first quarter as fresh office space supply entered the market and as tenants continued to exit, a study by a global property research firm showed.
PROSPECTS for the affordable housing (horizontal) market remain bright going into the next quarter driven by the escalating demand for affordable, yet decent and safe housing away from the highly dense areas in Metro Manila. Further, it is expected to increase as a blended work force (i.e., a percentage working in…
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