engine for economic growth recovering from the effects of the 1997 Asian financial crisis that brought

the Philippine Real Estate sector into a long swoon Real estate booms when income of citizens rise Residential oFWs and expats Commercial BPO business space It is linked with the construction sector which is responsible for building the structures on top of the land. It also has linkages with the services sector, such as urban planning, architecture and design. real estate is sensitive to economic and political conditions. Thus, economists and market analysts regularly monitor macroeconomic and political developments that may bear on the sector. * The boom in the tourism industry Tourist arrival in the first quarter of 2009 totaled to 1.3 million. The continuing surge of tourists is creating a demand for hotels and condominium. Construction and refurbishing of buildings are on the way to accommodate the influx. Also, it opened up investment opportunities for labor-intensive industries. * Offshoring and outsourcing boom The Philippine real estate industry is benefiting as more companies continue to search for ways to cut cost and transfer their business operations here. These created a demand for offices and residential buildings. * Overseas Filipino Workers investing in Philippines properties OFWs especially those in Europe are investing for properties because the value of properties abroad is much more expensive compared here. * The retirement industry The Philippines through the Philippine Retirement Agency program has been attracting retirees in other c ountries to spend the rest of their lives here. In fact prospective investors are already eying to put up retirement villages in Pampanga, Zambales and Bataan.

an intermediary estate (or real and attempts to buyers who wish

between sellers and buyers of real property as it is known elsewhere) find sellers who wish to sell and to buy