Via Philippine Star: Despite POGO crackdown, office rents rose as high as 12.5%/year in Q3
On the print edition of Philippine Star on October 8, 2019, Victor Agustin wrote about POGO’s impact to the property market for his Money Go Round column. An excerpt from his article is below:
“The chart below, from property consultant Pronove Tai, lists where the POGOs are concentrated, with Makati and the Manila Bay area neck and neck.
The foreign influx has quickly spilled over to Greenbelt 4’s luxury lane, reviving fortunes of the Tantocos’ Store Specialists even with the rise of online shopping.
It is no surprise then that the mid-market Landmark department store in Makati across the street has gotten into the groove, playing Chinese songs in between early Christmas carols.”
The Pronove Tai data used was from the firm’s Q2 2019 Metro Manila Office Market Overview found here.
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