Real estate growth buoys home furnishing industry

CEBU, Philippines — The robust growth of both residential and commercial property developments in Metro Cebu has ushered in a good opportunity for home furnishing retail business to flourish.

While the export market for furniture and other home furnishing products is still recuperating, manufacturers are advised anew to make a stronger presence in the domestic market, Colliers International Philippines recommended.

According to Joey Roi Bondoc, Colliers Philippines senior research manager, the market for home furnishing in Cebu is at its highest peak, a good thing to offset the weak global market right now.

Bondoc said the rise of home furnishing shops is expected in Metro Cebu in the next couple of years, even international brands are eyeing to make their presence here.

The government’s plan to further open retail trade to foreigners, also gives local furniture manufacturers a heads up to compete head on.

According to Bondoc, Cebu is the main target for penetration in the Philippines of foreign furnishing brands due to exciting market outlook for home furnishing and sustained real estate growth.

Bondoc said the home furnishing competition will be emphasized in a more interesting way in Cebu specifically as the province is known for its fine and export-quality home furnishing products. (FREEMAN)