MANILA – Less hawkish statements by monetary authorities here and abroad will aid the property market this year, Ortigas and Co said Monday, as it continued to roll out its P210-billion list of projects.
The Bangko Sentral ng Pilipinas kept interest rates steady during its first meeting for the year last Feb. 7 while the US Federal Reserve said it would be “more patient” on future tightening.
“All of this augurs well for real estate this year, especially for more interest rate-sensitive markets,” said Ortigas and Co chairman president and chief executive officer Jaime Ysmael.
Developers have to make sure that monthly amortizations are affordable, he said. Ortigas and Co’s developments include Capitol Commons, Tiendesitas and the Greenhills shopping center.
The previous year was a “challenge,” he told The Briefing on ANC’s Market Edge. The BSP raised the overnight borrowing rate by 175 basis points, bringing the benchmark to 4.75 percent as inflation hovered at near 10-year highs. (ABS-CBN News)
