March 15, 2024, 6:20 pmMetro Manila is solidifying its position as an attractive real estate market, topping a global list of cities with rising prices despite declines elsewhere.
The report said that 80 of the 100 cities registered flat or positive annual price growth, while overall luxury prices climbed 3.1 percent in 2023, representing a solid gain.- Advertisement - “For office occupiers, the growing acceptance of new working styles combined with the cost constraints of a higher interest rate environment bodes well for lower-cost and emerging markets in Southeast Asia,” Ahrens said.
“The manufacturing and logistics sectors are also key drivers of real estate activity in the region by multinationals. Thailand remains a favored destination for the auto industry, and Vietnam attracts technology manufacturing from companies including Samsung, while Malaysia continues to incentivize investments in high-value manufacturing such as electric vehicle and semiconductor manufacturing,” he said.
“In the current environment, we are seeing companies take a more considered approach to expenditure, and this extends to expanding headcount. They are being very strategic about where they want to grow their headcount and where they want to grow their business,” he said.