Philippine real estate poised to profit from crisis
The Philippine real estate market could be a safe haven and even a source of profit in the world financial crisis, a global property consultant said Wednesday.
After many financial instruments proved unstable this year, investors will shift in 2009 to more traditional investments such as real estate, CB Richard Ellis said in a statement.
"Previously, the diversity of portfolio investments lured most equity funds to invest in high-risk, high-yielding liquid assets and financial instruments. Now real estate remains a safe bet for investment," the statement said.
Investors could look to opportunities in "companies which have a physical presence that offers face-to-face customer experiences," Rick Santos, CB Richard Ellis chairman for the Philippines, was quoted as saying.
The Philippines also has a large population and is not overly dependent on export revenues, allowing the country to rely on its human resources and large domestic market to tide it over in the face of falling export demand.
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