Office space demand in NCR leaps

Business Mirror

Apr 22, 2022

EXCERPT


Its latest data showed a double-digit growth in leads for warehouses, offices and buildings for lease from the fourth quarter of 2021 to first quarter of this year. The uptrend is aligned with the recent order of the Philippine Economic Zone Authority for a 100 percent return to office of employees of all registered information technology-business process outsourcing companies starting April 1. This is consistent with existing laws requiring all business locators in the ecozones to avail of tax incentives.


An increased commercial property appetite was apparent in central business district-hosting cities in Metro Manila, per the study.The P100,000 to P200,000 price range in Makati attracted the largest share of leads for commercial properties to rent in Lamudi in Q1 2022. Offices were the most popular commercial subcategories in the same period, followed by buildings and retail.


Demand for residential rentals in the country’s financial capital, likewise, saw a significant hike with leads increasing by roughly 40 percent during the period. Inquiries from property hunters outside of the metropolis rose during the period in review, with seekers from Cebu City and Calamba joining Imus and Angeles as part of the top sources of leads for the city.


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