Housing and the economy

I saw this report,

Q2 office demand more than doubles
June 30, 2022 | 12:35 am
https://www.bworldonline.com/top-stories/2022/06/30/458421/q2-office-demand-more-than-doubles/

Then posted in our UPSEAA group was the ppt by Leechiu Property Consultants (LPC). Parts of the ppt are these three slides.

Yes, high inflation means reduced household spending as people hold back and save more, prepare for any household economic and health emergencies. Low household spending generally pulls down overall GDP. Developers adjust their pricing and financing like lower downpayment in order to attract more residential condo, housing buyers.

Big uptick in high-end housing occured during the PNoy Aquino admin, 2011-2016, momentum was sustained until 2019. Then lockdowns and business closures happened. Philippines' GDP contraction in 2020 was the worst in Asia at -9.6%.

Just hoping that the country's housing market will fully recover and expand under the new administration. And hoping that the lockdown dictatorship under the Duterte admin will never happen again.