Strong property sales are often a precursor of economic recovery. The construction phase that follows such sales will lead to a demand for materials such as cement, iron, galvanized sheets, wood panels, nails and copper wirings.
The construction activity will directly create thousands of employment and open more job opportunities in the allied sectors through increased factory orders.
Ayala Land Inc., the country’s biggest real estate company, noted last week a recovery in the high-end property market as reflected by a resurgence in reservation sales from March to May this year. Prospective local buyers accounted for the bulk of the sales, filling up the slack of foreign buyers, especially migrant Filipino workers in the United States.
Ayala Land said a sister company catering to the high-end market reported sales growth of 52 percent in March, 7 percent in April and 52 percent in May. Early reservation sales in June indicate they will approximate the growth in May.
The sales figures are a turnaround from recent months when the global financial crisis and high inflation crimped the pockets of the high-end market.
“It was really the high-end market that was affected by the global financial crisis. … what we are seeing now is that high-end market is on the upswing. Over the last four months, we see positive trend in terms of sales for the high end segment,” says an Ayala Land executive.
The high-end market may not make a significant dent on the whole property sector but its behavior suggests that the middle- and high-income groups are now starting or ready to spend in the coming months. Their outlook on the economy has improved and their confidence to spend is being restored after withholding their purchases in the past.
Increased consumer spending through the creation of more jobs in the construction sector and more factory orders will drive the economy in the months ahead. It is up to the government to respond accordingly to this economic trend. A timely response will move the country farther from the brink of recession. –Manila Standard Today
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
