Not every story behind luxury condominiums is about a controversial, high-ranking government official. Amid all the drama the past few months brought about by the impeachment of the Chief Justice, the luxury residential market has been brought to public attention.
But the overlooked fact is that this market has become the sunshine sector of the real estate industry for some time now. Looking at the robust growth more closely, one can see that the expatriate population in the Philippines has spurred the demand for luxury condominium units.
According to property consultant CB Richard Ellis’ First Quarter 2012 MarketView Metro Manila, the expatriate population is still growing, as there has been no letup in the entry and expansion of outsourcing and offshoring companies.
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