Rents and residential prices in the Philippines are expected to start recovering by 2021, except in Makati City which may continue to see a decline for a longer period, reports Philippine Real Estate News (20 November 2020). In a Property Survey and Index Q4 2020 report, published by Juwai IQI, on a nationwide basis, residential prices are expected to grow 2.3% by the third quarter of 2021, and by 16.9% by the third quarter of 2022. However, Makati City will continue seeing a 2.3% decline in residential prices over the same period next year, and will only record a growth of 14.8% by the third quarter of 2022. “Several factors are probably at play with the lower price expectations in the capital city. COVID (coronavirus disease 2019) has cut foreign buying, the majority of which is focused on the capital city. Also, the price lag is a continuation of the trends from earlier in the year,” said Juwai IQI group co-founder and executive chairman Georg Chmiel.