CEBU, Philippines - Real estate players are expecting a favorable property market environment under the Donald Trump Presidency while US continuous to be the major overseas market for Philippine properties.
According to real estate broker Anthony Gerard Leuterio, Trump's wide background in real estate, being a player himself, will open doors for opportunities for real estate marketing to the United States.
The Philippines, in fact, is no longer a strange expansion destination for Trump as he already have a presence in the real estate market here through the Trump Manila by Century Properties Group Inc.
Significantly, the new special envoy to the United States, Jose E.B. Antonio the founder of Century Properties Group Inc., could open more mutual benefits for the sector in both countries, Lueterio said.
Leuterio, whose team from his own companies Filipino Homes and Leuterio Realty and Brokerage, together with Cebu developers recently concluded a two-week roadshow in the US covering the states of Orlando, New York, Long Island, New Jersey and Chicago, expressed optimism that Trump's victory would translate to opportunities in property developments and marketing in both countries.
On the other hand, Cebu Landmasters Inc. president Jose Soberano III said that it is still early to release impressions on the effect of Trump's leadership to real estate sector, "but, I always look at the brighter side."
Just like what retail magnate Hans Sy advised earlier "not to react immediately", Soberano said small and medium developers are also doing the same.
Meanwhile, the climbing value of the dollar against the Philippine peso is also seen to boost property sales especially condominium units from the dollar-earning market, Leuterio said.
Cebu has over 6,000 condominium inventories that are up for sale, including those that are scheduled to complete in the next few years.
"Filipinos who are working or residing in the US are taking advantage of the strong dollar. Some are even paying spot cash," said Lueterio. (FREEMAN)