27.10.2008 - Phillipines: Property regulator warns of long-term pressures
From Bworldonline.com: Even as property consultancies like Jones Lang Lasalle Leechiu and Richard CB Ellis project that the sector will ride out the spreading financial crunch till next year, the government regulator has admitted it expects the industry to be affected should the crisis drag on for the long term. "We are expecting a slowdown on the purchasing power of consumers, in which case their priorities would shift. Their focus would be on food and clothing, they will no longer prioritize becoming owners of their own houses," Zacarias A. Abanes, director of policies and programs of the Housing and Urban Development Coordinating Council said..... Full Article: Source
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