332,000 more cars each year

Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) reported that auto sales increased 27% year-on-year in June.

More interestingly, CAMPI's annual figures show that we added 332,000 vehicles each year since 2017. Assuming the average length of a car is 4.5 meters, these vehicles will occupy 1,498 km worth of roads. In other words, we're adding more cars faster than we can construct roads.

↑ Auto sales = ↑ traffic = ↑ need to live close to work/family

As Metro Manila traffic returns to pre-pandemic levels (or even worse), it would be interesting to see if this problem could catalyze the (generally) sluggish appreciation of RE prices.