2012 has been very good to the Philippine property market, backed by a glowing economy, overseas Filipino remittances, and business process outsourcing (BPO) as main drivers to a development boom.
Despite fears of a bust, there is an overwhelming confidence among government officials and indsutry stakeholders holding on to the belief that there is no end to what is now happening in the market.
“We have previously noted that a major driver of this growth is the demand for office space due to the strong outlook of the BPO sector,” Socioeconomic Planning Secretary Arsenio Balisacan told reporters in a briefing on the third quarter GDP in late November.
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