From Fort Bonifacio Condos to Single Detached Homes: Demand for PH Housing Still High

From major CBDs Fort Bonifacio/Bonifacio Global City and Makati to provincial areas in the country, more residential buildings were built nationwide in 2012 according to the tabulation of building permits by the National Statistics Office. Averaging at 211,010 units, 2012 posted a 17% increase in the number of houses and condos built all over the country, compared to 2011's 180,140. The increase equals an additional Php20.15 billion in revenues -- reaching a total of Php 120.15 billion for 2012. The report also highlighted key trends in the Filipinos' behavior and preferences in residential properties.

Key trends:

• Filipinos still prefer living in single-attached homes. In 2012, 34.3% of the permits were for this type of structure.
• At 72,397 units, there is a slight decrease in the number of single-attached units built last year compared to 2011's 72,729 units.
• Demand for residential condo spaces also showed remarkable growth. In 2012, 69,093 condo units were built, compared to 2011's 50,525 units.
• Apartments or row houses also had a 24.34% improvement, reaching 64,458 units in 2012.

With the Philippines' consistent economic performance, 2013 shows great promise in the housing industry not just in medium-rise residential buildings for lower income to middle income classes, but mostly for high-end and luxury apartments and condos in the city. To know more about investing in condos for sale in Fort Bonifacio (Bonifacio Global City), Makati, or elsewhere in the country, contact KMC Savills today.