This year will always be remembered as the year of COVID. Aside from the obvious fact that many industries were affected negatively, including real estate, it is also true that many buyers now carry this new desire to buy properties that are located outside of congested areas. There are more people interested in condominiums with terraces, properties with open spaces, green buildings, and so on. I see this as a trend that will continue beyond 2020.
There are many reasons to hope for a better 2021, especially for the Philippines. In recent months, there have been indications that the economy is improving. That, and the fact that almost everyone adheres to safety regulations and restrictions, are good enough reasons to believe that the Philippines handled the pandemic quite well. This is a good place to start as the economy tries to bounce back to recovery in 2021. And I am optimistic that the country is set to recover quickly.
In the midst of the pandemic, the Philippines remains an attractive market for foreign investors. Economic experts say it is largely due to the country’s fundamental economic strength, its stable currency and strong level of foreign reserves, its efforts to keep inflation low, and the reforms that the government has introduced to improve the investment climate. Personal contacts of mine from Hong Kong and Singapore have actually asked me about the Philippine market, in particular, investing in the country.
But as with every other challenge, we can find opportunities in the crisis. For example, this is the perfect time for some companies to rethink their business models given the fact that we are most likely not going back (yet) to the kind of normal that we knew before. Everyone needs to adjust to the new normal, or the next normal, as some people are wont to call it.
Rethink and update based on the revived interest in sustainable development, going back to nature, green solutions, etc. The focus on these will only increase in 2021 and will most likely not vanish into thin air. It is also a good idea to take the opportunity to invest next year as it will likely be a year of relief for almost everybody.
Relief because the feeling and situation are akin to that state of sheer pleasure one experiences after being sick. You understand that you shouldn’t take the feeling and the blessing for granted because you very well know that life can hit hard, like how it did in the year 2020. So if the opportunity presents itself, we should plan ahead, invest, make the most of the opportunities in front of us, and be grateful for a new year and a new start.
About Architect Romolo Nati
Romolo Valentino Benedetto Nati known as Romolo Nati or RVN, is a multi-awarded Italian architect and businessman with interest in sustainable development (energy and real estate). He is the current Executive Chairman and CEO of Italpinas Development Corporation (IDC), an Italian-Filipino real estate development firm that specializes in the design and development of sustainable buildings. He is also the Vice Chairman of the Philippine renewable energy company Constellation Energy Corporation (CEC) that focuses in acquiring, financing and developing small to medium-scale renewable energy projects across the Philippines. Follow Architect Nati on Facebook, Twitter and LinkedIn.