п»їASEAN Integration: Real Estate Practitioner Point of view
By: Gus Agosto, REB, REA
Precisely what is the view with the real estate practitioners on ASEAN Integration? The integration will bring both equally opportunities and challenges towards the 28, 869 licensed real-estate practitioners near your vicinity. It means larger market and area for people who do buiness, exposure to several practices and culture, sales strategies and programs. It should assist in easing the difficulties besetting the practitioners for many decades. ASEAN is composed of 10 countriesвЂ”Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. It has a vast economic market of 600 , 000, 000 people, which accounts for in least 8 percent with the global population, spread around 4. six million square meters of prime real estate property.
The integration will mean stronger capital inflow and investments, specifically in property industry. Even more industry players also indicate increased price of development activities wherever we will be finding mixed-use residential districts, price tag, commercial and office hubs, and key infrastructuresвЂ”airports, sea ports and others moreвЂ”racing to dot the skyline all in one.
We will also see more emerging economic hotspots in various parts of the country, particularly in MindanaoвЂ”a location deemed since the Philippines's gateway to the rest of Southeast Asia. Small and new players will opportunity other markets in pays.
The free movement of goods and services will mean much higher price of buyer spending. This will then drive the development of more lifestyle-centric advancements, such as malls, retail complexes and homes anchored in tourism, through the archipelago.
This will stimulate other industrial sectors in our nation that will bring about job creation and reducing new entrants and " part-timersвЂќ in real estate.
With ASEAN, foreign and native developers can rely on local practitioners to sell their real estate and in discovering more...