By Romesh Navaratnarajah: PropertyGuru's inaugural Philippines Property Show (PPS) in Singapore last month successfully sold around 66 units valued at PHP288 million (S$8.6 million).
The event showcased over 15 luxury developments from the Philippines and was attended by about 900 property buyers and investors. According to exhibitors, additional leads hit PHP1.66 billion (S$50 million).
Most of the buyers were Singapore-based Filipino professionals, but also included some Singaporeans and locally-based foreigners.
Mid-rise condos and beachfront apartments proved highly popular with Central Manila, Makati City, Greenfield City, Quezon City and Boracay a hit with Filipino consumers.
In his opening address, guest of honour Glenn G. Penaranda, Commercial Counsellor of the Philippines Trade and Investment Center, Embassy of the Philippines, said: "The Philippines Property Show is indeed timely and effective in promoting Philippines properties in Singapore. It has generated interest and provided a venue not only for promoting the fast growing Philippines property market, but also for bringing investments to the Philippines."
Commenting on the positive turn-out, Steve Melhuish, co-founder and CEO of PropertyGuru Group, stated: "We were delighted by the strong interest and transactions at our first Philippines Property Show. With almost 1,000 attendees over the weekend and double the expected number of units sold, there's obviously strong demand for overseas property in Singapore."
"This endorses our focus on holding high quality events across Asia, showcasing property from specific countries," he added. Related Stories: Bangkok prime property prices growing fastest globally
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