Property listing site Property24 is forecasting around P247 billion worth of real estate transactions annually as a result of a partnership with OLX Philippines. During the partnership launch on Wednesday, Property24 country manager Steve Santos said the combined real estate sales from Property24 and OLX Philippines are expected to reach P20.6 billion a month. Using the formula the real estate sales will amount to P20.6 billion or P247 billion a year, equivalent to around 30 percent of the country’s annual real estate salesThe total real estate transactions in the country is around P800 billion, but could be higher this year. “I think it’s a much bigger number than P800 billion, Santos noted, saying it could be in the vicinity of a trillion pesos. The collaboration between Property24 and OLX will make listings appear on both portals.

Source: Manila Times September 21, 2016 16:52 UTC