Benjamarie Serrano, President of Brittany Corporation, gives her view of the real estate market

‘This is an unprecedented phase that could last beyond 2010’
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Why is the market booming and do you expect it to last?

Philippine real estate has enjoyed its best time for the last two years, with the industry doubling its figures in 2006. With the improved peso-dollar rate, lower inflation and lower interest rates, and favourable economic forecasts, real estate will continue to grow. We are seeing the fastest economic expansion for a decade and the market is growing with it, driven by an increase in demand, both locally and from Filipinos overseas.

This is an unprecedented phase that could last up to 2010 and beyond. Demand for residences has increased as buyers seek better access to key business districts and enhancement of their chosen lifestyle. These needs are being addressed by the increasing number of new product offerings, like affordable condominium buildings. Housing has enjoyed consistent growth, given the demands of Filipinos looking for either their first home or an investment.

The tremendous growth posted by the BPO sector has not only raised demand for more office spaces, but also for commercial spaces, such as malls and lifestyle centres.

New and aggressive financing schemes are also driving growth. The increase in players will benefit buyers, as they are able to make the best choices in the market.

How is Brittany Corporation benefiting from the growth in the OFW market?

From the beginning, we have been very strong in the overseas Filipino market – long before other developers. We go to different countries to promote our brand and our product. Word of mouth marketing has helped, as we already have a lot of overseas Filipino clients. Now, with the rapid rise in remittances, and with the current boom in the real estate sector, it is relatively easy for us to tap into that market, as we are already a known brand.

How would you define a master planned community development?

It all starts with a developer’s vision to integrate a community with the components necessary to provide a higher quality of life for its residents.

Aside from the residential component, which could either be horizontal or vertical, master planned communities provide lifestyle amenities, commercial developments, places of worship, schools, business establishments, road networks and even open spaces.