The recently-enacted Real Property Valuation and Assessment Reform Act will revitalize the Philippine property sector by increasing transparency and competitiveness, real estate consultancy Santos Knight Frank said.
“PRVARA is a crucial step in raising valuation standards and promoting transparency in the Philippine real estate sector. Global investors value market transparency, and PRVARA will play a vital role in driving increased investment into the country,” said SKF chairman and chief executive Rick Santos in a briefing Tuesday.
The real estate industry is closely watching proposed amendments to the Condominium Act, Santos said.
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