Real estate stakeholders urged to unite in Bohol summit

CEBU CITY – Real estate stakeholders must unite to help develop a sound sustainable industry and in the process aid the government craft effective policies and regulations to boost the brisk property outlook in the Philippines for the long term.

ANTHONY Gerard O. Leuterio, founder of Filipino Homes Group, speaks before delegates of the recent Organization of Socialized and Economic Housing Developers of the Philippines Affordable Housing Summit 2022 in Bohol. (Photo via Calvin D. Cordova)

This was the call of one of the leaders in the real estate industry during the recent Organization of Socialized and Economic Housing Developers of the Philippines Affordable Housing Summit 2022 in Bohol.

“By working together to achieve a common goal, we could build a strong ecosystem, share best practices in different sub-sectors in real estate sector,” said Anthony Gerard O. Leuterio, founder of Filipino Homes Group.

Leuterio called on developers, brokers, licensed agents, and other stakeholders in the real estate industry to unite and work together, creating one voice and develop a sustainable industry strongly aided by government policies that are timely and conducive for growth.

He emphasized the importance of “coopetition,” strengthening the real estate ground first to create an environment for healthy competition and growth.

Amid the vibrant real estate market in the Philippines, Leuterio said developers are faced with myriad challenges such as regulatory approval and permitting issues, expensive raw lands, poor sales take-out, and tight bank lending requirements, among others.

“When stakeholders cooperate, it creates an ecosystem with a mission,” Leuterio told delegates.

Leuterio explained that if players unite and call the government to improve policies, services, and requirements for real estate players, a clearer framework will be created and inspire government authorities to build a National Real Estate Council, a community of real estate stakeholders and government agencies.

The Philippine real estate sector is composed of a number of private sector organizations, as well as multiple government agencies.

For practitioners, the Accredited Real Estate Salespersons of the Philippines, A Better Real Estate Philippines, Philippine Association of Real Estate Boards Inc., Philippine Association of Realty Consultants and Specialists Inc., REBP, and PARA.

Government agencies that provide services to the real estate sector are the Professional Regulatory Commission, Professional Regulatory Board of Real Estate Service, Department of Human Settlements and Urban Development, Pag-IBIG Fund, Bureau of Internal Revenue, and National Housing Authority.

Groups of property developers in the Philippines: OSHDP, Subdivision and Housing Developers Association, Chamber of Real Estate and Builders Association, and the National Real Estate Association Inc.

A report published by Statista Research Department showed that the real estate industry in the Philippines generated a gross value added of nearly P126 billion as of the second quarter of 2021.