Are you worried about investing in real estate in the midst of election season? Here are some things you need to know about the potential impact of the May 9 elections to the real estate sector.
Election season and the results thereafter often have significant effects to the economy, especially since a new administration will have a direct impact on the influx of foreign investments. Several investment and economic groups have already predicted who among the current presidentiables will create the best business environment for the Philippines in the next 6 years, and so the fate of the Philippine economy will weigh heavily on the result of the election. And while most foreign investors will be taking the backseat until the political storm winds down, this impact will most likely be felt later rather than sooner.
Why is this the case? The changing of hands in power will likely create changes in laws and policies for the real estate segment - but it will take a while.
Until those new policies are put in place, the real estate market remains almost at a status quo during election season. And while it is true that whoever wins may affect buyer confidence, this will have almost little to no impact especially for retail home buyers. Prices of homes during this time will also not be affected, especially for affordable and mid-range properties. In general, real estate is one of the safest and most stable investments you can make, and a few months of economic uncertainty is not expected to have a long term effect to your investment.
On a macroeconomic perspective, the country currently faces a backlog of 6.8 million homes in 2022, and is expected to rise to 22 million units by 2040. As the demand for quality housing continues to rise, the real estate industry continues to become a healthy and viable sector in the Philippine economy for the years to come.
Are you looking to invest in a high-quality yet affordable home? Make the wise choice - invest in a property that fits your needs and preferences while staying within budget. PlusHomes Communities Inc. offers beyond basic homes for every Filipino. Built by our affiliate Megawide Corporation, each PlusHome comes with ample living spaces, industry-standard interiors, and innovative construction. Choose from our selection of homes and project developments in key areas in and around Metro Manila.
Make an informed choice when choosing a home - visit our official website to learn more about our affordable homes for sale.
