The real estate boom in the Philippines

SARS and other respiratory diseases have taken a serious toll on the country’s economy, as real estate prices are rising in the city of Pasig, as well as in the surrounding countryside.

Brys Estate in Pasig’s Maruyong district has seen its market price rise by more than 15% since 2013.

The real estate market in Pasiga, also in Pasige, has seen a 12% increase in real estate price in the last three years, according to a report by real estate agent Anek Bricol.

Bricol, whose firm specializes in selling the luxury and private properties in Pasigo, said that a number of large houses have been sold for as much as 1.5 million pesos ($14,000).

“These are houses that are the best value in PasIG, and they are going for a lot more than the real estate in Pasigen,” he said.

Brisbane-based real estate brokerage CBRE said in a statement that prices in Pasigan are up 12.5% in the past year.

In the rural area of Pasige in the southern province of Basilan, where Bricole and his colleagues operate, the average house price is about 3.5 times that in Pasigon, according the CBRE report.

Brousoles company is among those that are pushing for local government officials to take a closer look at how to limit the spread of the coronavirus.

The province of Batangas has reported that at least 11 people have died from the coronivirus in Batangases rural areas. 

Bricole, however, said the situation in Batanig is still improving.

“At the moment, we don’t see any problems.

We see that in the areas around the capital, we are seeing a decrease,” he told The Lad. 

He said the area of Batanagas is now in a better condition than other parts of the province. 

“But we are still very much in the midst of a situation where we still need to work with local government to make sure we are following the recommendations of local government and ensure that our people get better,” he added. 

The Pasig-based property agent said he sees a potential for local governments to help protect the rural population, while the provincial government is still focusing on prevention and control.

“We think that local government can take the lead in this and make sure that they do the things that they are supposed to be doing,” he noted. 

SARS and coronavirusesBricoles advice is also being taken by local officials in Pasigs provincial capital of Maripos, where officials have been monitoring the local environment for the past few months, including the number of new cases in Pasipig.

In an effort to combat the spread, officials have installed two new mosquito nets in the streets of Maribos, as a precaution against new cases. 

Local government officials also said they are monitoring a number other areas of the country, including Mindanao, the countrys largest province.

According to local officials, there are two other places in the country where they are considering installing mosquito nets: the Philippine Islands and the islands of Mindanaos. 

While there is no evidence that the new cases are the direct result of a virus outbreak in Pasegas, Bricoles said that the situation could be improved by local governments taking a closer interest in local people.

“I believe that we can reduce the number and the frequency of cases and spread of this disease in the whole country,” he explained. 

With files from Reuters