Continous Growth Potentials Abound In Property Sector
By: CRB Julius G. Topacio, CPA

We are more prepared to handle our woes. In fact, our local banks are still quiet because according to BSP, we have a strong financial system and the credit crunch proliferating in the developed countries has been addressed already by our financial institutions long before this new woes in U.S. and Europe. On top of that, the government is requiring increase in the minimum guarantee on bank deposits from Php250 to Php500 threshold depositor’s recovery from Philippine Deposit and Insurance Agency (PDIC). The East and Southeast Asian nations have also already agreed to an US$80 billion funds to counter global economic woes.

Now let us review our domestic outlook. Let us compare actual figures and forecast from the BSP, not only in relation to the property industry but to our local economy as a whole.

Our sustained and new labor markets (e.g. seafarers, nurses, caregivers, domestic helpers, laborers/skilled workers, etc.) on export service industry are still opening at 27% increase in deployment compared to previous years according to POEA. read more >>