More people to rent '2nd home' due to traffic, says analyst

ABS-CBN News

Posted at May 19 2017 05:48 PM

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With more traffic expected to come with the Duterte administration's infrastructure push, a property consultant expects the demand for condominiums to also rise.

The residential demand boom created by the IT-process sector is set to continue and will be bolstered by the traffic situation seen worsening due to the government's 'build, build, build' program over the next 6 years, according to David Leechiu of Leechiu Property Consultants (LPC).

"Traffic's going to be worse because of all the infrastructure and construction going on in Mega Manila and outside, but that's why we need condos, we need to develop condos, high-rise dwellings to make it affordable to be closer to home," he said in an interview with ANC's Market Edge.

"Somehow, people will have to make adjustments like this, to go and start renting a second home or halfway home in the city," he added.