Property sellers bullish on vaccine rollout, gear up for reactivation of property market

·2 min read

PROPERTY market sellers are gearing for the re-opening of some economies like the US as global markets report progress on their Covid-19 vaccination rollout.

The US has already given out over 118 million vaccine doses to its population, according to the US Centers for Disease Control and Prevention on Friday, March 19, 2021.

“Buyers’ confidence is slowly recovering. We noted rising number of inquiries from buyers abroad — Filipinos now staying and working in other countries. We need to follow through this confidence,” said Filipino Homes founder and real estate broker Anthony Gerard Leuterio.

Leuterio said developers in Cebu are already procuring Covid-19 vaccines to be offered not only to their employees but to their partner brokers as well.

Filipino Homes, he noted, is also setting aside a good sum to buy vaccines so it could resume its real estate selling activities pre-pandemic performance.

“We have never been out of business since the Covid-19 pandemic entered our shores. Although we still continue to log sales despite the stressed business environment, the vaccine rollout sets a different mood. It’s a game changer,” said Leuterio.

“The vaccine is our ultimate hope for full recovery. Now that it’s here, we are excited to help re-activate the economy,” he stressed.

In fact, Filipino Homes is planning to send a delegation to San Diego, California to attend a property convention in November this year.

Overseas Filipinos are the top buyers of real estate properties in the Philippines.

According to the Bangko Sentral ng Pilipinas, money sent home by overseas Filipinos reached US$33.194 billion in 2020, lower by 0.8 percent than the $33.467 billion recorded in 2019.

The US posted the highest share of the total remittances at 39.9 percent in 2020, followed by Singapore, Saudi Arabia, Japan, the UK, the UAE, Canada, Hong Kong, Qatar and South Korea. (KOC)

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