Pinnacle Real Estate Consulting Services, Inc. shared to the media its Q2 2019 Market Insight report, led by its managing director and president Michael Mabutol, director for appraisal and research and consulting Leo Doplito, and licensed real estate consultant and researcher Jose Romarx Salas.

During the event, the country’s fastest growing homegrown real estate consultancy firm presented their insight on the local real estate market.

One of the highlights of the report is the recent credit rating achieved by the Philippines (BBB+) rating firm S&P. This positive news reflects on the country’s GDP growth rate of 5.6% for Q1 2019.

Among the macroeconomic indicators discussed by Pinnacle during the event include record  foreign tourist arrivals, reduction in inflation rate, and overseas remittance, among others. The country’s hosting of the Southeast Asian (SEA) Games will also further boost the tourism industry.

For the real estate industry, Salas presented trends in the office, residential, and industrial and leisure sectors. Specifically, he mentioned that POGOs “[are] one of the drivers of office market,” taking up the spaces that the BPO industry has not absorbed. In addition, residential demand has been steady, thanks to foreigners and OFWs, while increasing spending power props up the retail market. On the other hand, foreign investors sustain the industrial market.

According to Pinnacle, this overall positive sentiment will continue to bolster the Philippine real estate industry for the rest of 2019 and in the coming years.

To read Pinnacle's Q2 2019 Market Insight, click here.