Real Estate and Housing Industry - Compiled Threads [Archive] - Page 4

the glimpser

December 10th, 2011, 03:38 AM

11 ‘hurrays!’ for Philippine property in 2011

Despite the lower-than-expected economic growth for the Philippine economy in 2011, some sectors posted promising growth this year, particularly the property sector.

Just recently, Paul Vincent Chua of global real estate services Colliers International said there have been positive points about the city of Manila as a property investment option, particularly the lower rental rates compared with other Asia-Pacific countries. Last Saturday, property analyst Enrique M. Soriano said this year saw the “aggressive construction frenzy in the mid-income condo segment representing 80 percent of all residential developments in 2011.”

Other encouraging news from Colliers came out recently, such as the increased demand for office spaces in the Makati, Bonifacio Global City and Ortigas central business districts compared to 2010, and the “arrival” of growth centers like Eastwood City and Bonifacio Global City.

Over at CB Richard Ellis Philippines, the real estate advisory firm shared its own good news for 2011, two of the most “heartwarming” being the Philippines dubbed the best outsourcing destination in Asia, and the City of Manila as generating one of the highest office yields in Asia.

Victor Asuncion, executive director for global research and consultancy of CBRE Philippines, shared his own 11 property news in 2011 that would encourage us to see the Philippines as a “glass half full.”

1.) A record year for office takeups. 2011 is turning out to be a record year for office takeups, which is now estimated at 300,000 to 400,000 square meters.

2.) Year of the branded hotels. Hospitality developments aimed at the rising office and business community population have attracted branded hotel projects such as Shangri-La at BGC, Grand Hyatt and Fairmont Hotel to establish their own hotels here.

3.) Serviced apartments on the rise, too. Investments for, and the development of, serviced apartments has started in earnest, as business travelers such as business process outsourcing trainers and consultants are streaming in for the medium term—the main clientele of serviced apartments.

4.) Cheaper alternative for foreign carriers. Expansion as a result of a liberalized airline industry has enabled more foreign carriers, such as Air Asia, to provide cheaper air transport alternatives to millions of inbound and outbound travelers.

5.) Retail projects go nationwide. They’re not just confined to urban centers. Supermarkets, “hypermarkets,” malls and other big-ticket commercial establishments that focus on retail are now being put up across the country, with no less than property heavyweights such as Ayala Land, SM Prime, Robinsons Retail, Puregold PriceClub, Rustans and Waltermart behind these projects.

6.) Increased consumer spending. People are spending more—for home, communication and personal items, and especially for food. This literal hunger fuels the expansion of fast-food chains, retail kiosks, as well as beverage shops specializing in coffee, milk tea and frozen yogurt, to name a few.

7.) Vertical communities on the rise. Young urban dwellers as well as start-up families now tend to look more at the option of living in middle-income vertical communities (such as condominiums) in Metro Manila that are in close proximity to the business districts.

8.) That closer to REIT. The Bureau of Internal Revenue has released the Implementing Rules and Regulations for the Real Estate Investment Trust Act (REIT Law) of 2009. This has been considered a step closer to the listing of the first Philippine REIT company at the Philippine Stock Exchange, subject to the acceptance of the stakeholders.

9.) New hotels for tourists. If you build it, they will book. Increased confidence in the business of tourism has encouraged new hotel developments in key tourist destinations such as Boracay, Cebu, Davao, Cagayan de Oro, Palawan, Clark and Subic. Their efforts are now being rewarded as foreign and domestic tourist arrivals are increasing.

10.) The new destination for medical tourism. Foreign investments in the country’s medical facilities bode well for the emergence of the Philippines as a major medical tourism destination. Upgrading and expansion of tertiary hospitals provide options and alternatives to medical tourists as well as retirees—be they balikbayans or foreigners.

11.) Bay area developments. The best place in Metro Manila to see the setting sun may also be the ideal place to witness the reemergence of Manila’s economy. Bay Area developments have been a blur, aimed primarily at Asia’s gaming and gambling scene—a guaranteed index of economic growth. The Pagcor City and Belle Grande Casino Resorts Manila will soon be operational.

http://business.inquirer.net/34349/11-%e2%80%98hurrays%e2%80%99-for-philippine-property-in-2011

b_9904

December 11th, 2011, 09:05 PM

Resettle informal settlers, LGUs told (http://ph.news.yahoo.com/resettle-informal-settlers-lgus-told-160000843.html)

Aquino said the national government should not be blamed if the problem was not fully resolved by 2016 because LGUs also have a responsibility.

Under the law, LGUs are required to resettle informal settlers especially those living on esteros, waterways and other hazardous areas.

He reminded the LGUs that there was such a thing as “donor fatigue” and that they must seize the current opportunities to attend to the problem of informal settlers.

But the President said the government would strive to provide vertical housing and encourage others to go back to the provinces where they could cultivate land or start small businesses.

b_9904

December 11th, 2011, 09:07 PM

InfinitiFX45

December 14th, 2011, 06:20 PM

Ortigas allots P25 billion for 10-ha mixed use complex :banana: :cheers:

by Zinnia B. Dela Peña | The Philippine Star | December 15, 2011 | 12:00 AM

MANILA, Philippines - Real estate developer Ortigas & Co. is spending P25 billion over a 15-year period to transform a 10-hectare property at the southern end of the Ortigas business district into a high-end, modern residential, retail and office complex to be called Capital Commons.

In a briefing yesterday, Joey Santos, general manager of the real estate division of Ortigas & Co., said the master-planned mixed-use community, envisioned to become the next address of choice in the Ortigas/Pasig area, will have over 280,000 square meters of residential units, some 35,000 sqm. of prime retail space and 20,000 sqm of office space for knowledge process outsourcing firms.

Santos said the retail component will comprise a high-end shopping mall that will open its doors to the public in 2013. Estimated to cost around P2 billion, the mall, dubbed Estancia, will have Store Specialists as its anchor store. The supermarket, on the other hand, will be anchored by Unimart while the entertainment component, comprising the cinemas, will be handled by the same group operating Promenade in Greenhills.

Read More: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=758441

b_9904

December 14th, 2011, 06:30 PM

InfinitiFX45

December 14th, 2011, 06:41 PM

Mixed-use complex planned at Rizal Capitol :banana: :cheers:

by : Krista Angela M. Montealegre Reporter | Thursday | December 15, 2011

ORTIGAS & Co. is set to turn the former site of the Rizal Provincial Capitol into a mixed-use complex, starting with the development of a high-end shopping mall.

Joselito Santos, general manager of the real estate division of Ortigas, said the company will spend close to P25 billion to construct office, retail, residential spaces as well as cinemas, a hotel and park within the 10-hectare Capitol Commons over a period of 15 years.
Capitol Commons will have 35,000 square meters of prime retail space, 20,000 square meters of office space for knowledge process outsourcing firms and over 280,000 square meters of residential units. Over 50 percent of the land area will be allocated for open spaces.

Read More: http://www.manilatimes.net/index.php/business/top-business-news/13212-mixed-use-complex-planned-at-rizal-capitol

Officialdmcileasing

December 15th, 2011, 04:59 AM

^^ ^^ Thumbs up!

[jeyps]

December 15th, 2011, 10:49 AM

Walang humpay pa din ang construction sa metro manila ng mga condo. Nung una natatakot ako baka magkaroon ng over supply... pero kung meron 10M pilipino na OFW.... palagay ko indi pa din sosobra ung mga condo sa atin kahit isama na ung mga construction sa labas ng metro manila (at least in 3 to 5 yrs). ipagpalagay na lang natin na kalahati ng mga OFW ang bumili... masasabi ba natin na meron na mahigit 5M units na condo units ang available ngyn? Sa palagay ko indi pa din aabot ng 5M. E, paano kung ung mga OFW ay kumuha ng mahigit sa isang unit ng condo. La lng, just a though to share.

xxxriainxxx

December 15th, 2011, 12:03 PM

;86663388']Walang humpay pa din ang construction sa metro manila ng mga condo. Nung una natatakot ako baka magkaroon ng over supply... pero kung meron 10M pilipino na OFW.... palagay ko indi pa din sosobra ung mga condo sa atin kahit isama na ung mga construction sa labas ng metro manila (at least in 3 to 5 yrs). ipagpalagay na lang natin na kalahati ng mga OFW ang bumili... masasabi ba natin na meron na mahigit 5M units na condo units ang available ngyn? Sa palagay ko indi pa din aabot ng 5M. E, paano kung ung mga OFW ay kumuha ng mahigit sa isang unit ng condo. La lng, just a though to share.

Maski dyan sa Pinas- kaklase ko sa uni, bumili ng sampung condo para parentahan. :D

Saddhim

December 15th, 2011, 12:50 PM

;86663388']Walang humpay pa din ang construction sa metro manila ng mga condo. Nung una natatakot ako baka magkaroon ng over supply... pero kung meron 10M pilipino na OFW.... palagay ko indi pa din sosobra ung mga condo sa atin kahit isama na ung mga construction sa labas ng metro manila (at least in 3 to 5 yrs). ipagpalagay na lang natin na kalahati ng mga OFW ang bumili... masasabi ba natin na meron na mahigit 5M units na condo units ang available ngyn? Sa palagay ko indi pa din aabot ng 5M. E, paano kung ung mga OFW ay kumuha ng mahigit sa isang unit ng condo. La lng, just a though to share.

And I'm planning to buy one in 2013. Yay! I gotta do some belt tightening starting Jan 2012. And I'm gonna be this thin :dance2: by the time I pay my first monthly amortization. :lol:

Ady001

December 16th, 2011, 03:55 AM

Maski dyan sa Pinas- kaklase ko sa uni, bumili ng sampung condo para parentahan. :D

As long as mabayaran nila yan OK na.

Because if we continue building and building pero wala namang nakatira, nakupo...

[jeyps]

December 16th, 2011, 11:01 AM

i just hope that there will be more businesses (local or foreign) opening up in the philippines. this will surely eat all the supply of condo units.

xxxriainxxx

December 16th, 2011, 02:43 PM

As long as mabayaran nila yan OK na.

Because if we continue building and building pero wala namang nakatira, nakupo...

marami pera yun. hihihihi, sa pagkakaalam ko supplier ng cocoa butter ang family nila.

Ulidia

December 17th, 2011, 08:14 AM

I purchased four pre-construction condos at KL Mosaic, Gamboa Street, Legaspi Village, Makati in March 2008 (contruction to be completed Q1 2013).

Each of the four condos range in size between 36 and 41 sqm and each directly faces onto Legaspi Park. I have paid the full 40% downpayment of each of these condos and am wondering as to the possibility of selling one or two of them at this stage, clearly at a lower price to what the condos are currently being sold at by Vista Land.

Genuine enquiries by direct purchasers or brokers with appropriate sales channels welcome.

Ady001

December 17th, 2011, 11:35 PM

marami pera yun. hihihihi, sa pagkakaalam ko supplier ng cocoa butter ang family nila.

Well, he's one of the really able kasi boss, pero for some of us na talagang Purita, it's quite high.

anone

December 18th, 2011, 02:02 PM

b_9904

December 18th, 2011, 02:18 PM

ang daming naka linyang projects ng mga developers pero wala namang new roads or expansion ang gobyerno. tapos halos lahat ng projects ay sa metro manila lahat. ngayon pa nga lang grabe na ang traffic eh di mas lalo na pag natapos lahat ang mga residential buildings na yan.

Sasabihin ko sanang "edi wag ka gumamit ng private transpo..." when I realized na congested na din naman ang public transpo natin during rush hour.

anone

December 18th, 2011, 02:38 PM

Sasabihin ko sanang "edi wag ka gumamit ng private transpo..." when I realized na congested na din naman ang public transpo natin during rush hour.

mag bus o jeep ay ubos ang oras sa traffic....... mag mrt/lrt naman ay kailangan mong makipagsiksikan..... mag lakad naman ay patay ka sa polusyon. wala sa ayos at hindi nababalanse ang nangyayari ngayon sa Pinas. :ohno:

b_9904

December 18th, 2011, 02:46 PM

mag bus o jeep ay ubos ang oras sa traffic....... mag mrt/lrt naman ay kailangan mong makipagsiksikan..... mag lakad naman ay patay ka sa polusyon. wala sa ayos at hindi nababalanse ang nangyayari ngayon sa Pinas. :ohno:

I think Metro Manila needs to raise taxes on private vehicles. That way mababawasan road congestion dito sa Pinas.

the glimpser

December 19th, 2011, 11:16 AM

Megaworld is Philippines’s number 1 condo developer–Colliers

By: Doris C. Dumlao
Philippine Daily Inquirer 11:25 am
Monday, December 19th, 2011

MANILA, Philippines–Tycoon Andrew Tan-led Megaworld Corp. is the country’s largest builder of residential condominium in terms of units completed in 2010 and those in the pipeline for the next five years, the property company said, citing research from property consultant Colliers International.

This represents the leading market share of 18 percent of the market, Megaworld told the Philippine Stock Exchange on Monday.

Apart from building the most number of high-rise residential units in 2010, Megaworld was noted to have the largest number of units to be completed from 2011 to 2016 based on all projects launched as of third quarter 2011.

In terms of total saleable area of those projects launched and to be completed in the same period, it represents 16 percent of the market with a total saleable area of about 1.15 million square meters, the disclosure said.

Megaworld is currently developing over 40 residential projects and several BPO offices in Metro Manila. For the year 2011, Megaworld has launched eight new projects namely, One Eastwood Avenue, 101 Newport Boulevard, One Uptown Residence, Manhattan Heights Tower 2, Viceroy Tower 1, Greenbelt Hamilton and Belmont Luxury Hotel in Metro Manila. Megaworld has also launched its first project in Cebu called 8 Newtown Boulevard.
http://business.inquirer.net/35921/megaworld-is-philippiness-number-1-condo-developer-colliers

HANG_tod

December 19th, 2011, 02:59 PM

magagalit ang sm niyan, sila daw most trusted at number 1 condo developer

InfinitiFX45

December 19th, 2011, 10:04 PM

Megaworld rises as top resd'l condo developer in 2010

by Zinnia B. Dela Peña | The Philippine Star | December 20, 2011 | 12:00 AM

MANILA, Philippines - Megaworld Corp., the flagship property unit of tycoon Andrew Tan, emerged as the top residential condominium developer in terms of the number of units completed as of 2010 and those to be completed from 2011 to 2016, according to the latest study by Colliers International.

In a disclosure to the Philippine Stock Exchange, Megaworld said these projects account for 18 percent of the residential condominium market.

In terms of total aggregate saleable area of those projects launched and to be completed in the same period, it represents 16 percent of the market with a total saleable area of about 1.15 million square meters.

Read More: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=760140

InfinitiFX45

December 19th, 2011, 10:09 PM

Megaworld claims top condo spot

by JAMES A. LOYOLA | Manila Bulletin | December 20, 2011 | 8:00am

MANILA, Philippines — Megaworld Corporation has emerged as the number one residential condominium developer in terms of number of units completed as of 2010 and units with a market share of 18 percent.

In a disclosure to the Philippine Stock Exchange, Megaworld said this is in terms of units to be completed from 2011 to 2016 based on all projects launched as of third quarter 2011.

In addition, in terms of total aggregate saleable area of those projects launched and to be completed in the same period, it represents 16 percent of the market with a total saleable area of about 1.15 million square meters according to the latest study by Colliers International.

Read More: http://www.mb.com.ph/articles/345408/megaworld-claims-top-condo-spot

Officialdmcileasing

December 20th, 2011, 01:40 AM

And I'm planning to buy one in 2013. Yay! I gotta do some belt tightening starting Jan 2012. And I'm gonna be this thin :dance2: by the time I pay my first monthly amortization. :lol:

:lol::lol: Natawa naman ako dun.. Tipid lang tlga para makabayad! :banana::banana:

mikael21

December 20th, 2011, 03:04 AM

;86663388']Walang humpay pa din ang construction sa metro manila ng mga condo. Nung una natatakot ako baka magkaroon ng over supply... pero kung meron 10M pilipino na OFW.... palagay ko indi pa din sosobra ung mga condo sa atin kahit isama na ung mga construction sa labas ng metro manila (at least in 3 to 5 yrs). ipagpalagay na lang natin na kalahati ng mga OFW ang bumili... masasabi ba natin na meron na mahigit 5M units na condo units ang available ngyn? Sa palagay ko indi pa din aabot ng 5M. E, paano kung ung mga OFW ay kumuha ng mahigit sa isang unit ng condo. La lng, just a though to share.

^^^^^^

maybe they could open construction dun sa mga karatig lugar, not only focusing on metro manila, for sure naman kapag may mga modern residential communities dagsa na rin ang iba't ibang business establishments sa lugar na pagtatayuan nun. :lol:-:lol: (http://www.dmcileasing.com/apartments-for-rent-pasig.php)

boypad

December 23rd, 2011, 10:27 PM

Start of real estate bubble.... :ohno:

SMDC gets sales boost after offering discounts on condos
:ohno:
abs-cbnNEWS.com
Posted at 12/23/2011 5:13 PM | Updated as of 12/23/2011 5:13 PM

MANILA, Philippines - After slashing prices of some of its condominium units by as much as 40% , SM Development Corp. (SMDC) is targeting P3 billion in sales this December.

Speaking during ANC Business Nightly's year-end roundtable discussion, SM Investments Corp. (SMIC) chief finance officer Jose Sio defended SMDC's decision to offer steep discounts on some of its condo units.

Sio said the sale was a marketing strategy for the holiday season, similar to the way SM department stores and malls hold sales to dispose of some of its supply.

The huge discount offered by SMDC had sparked fears of an over-supply of high-rise condominiums in the market.

"Parang sapatos, you have the sizes of 4 to 10 and the sizes are not complete, you make a sale during the holidays to dispose of those... Because of our retail background, we (SMDC) said we had so much product. May mga off-sizes na hindi ma-benta because of the location. So we said, sell these and we make long-term good will to our customers," Sio said.

SMDC has so far recorded P2.5 billion sales in December alone, already a jump from the average monthly sales of P2 billion.

"We sacrificed by selling our units at 60 to 50% discount and behold, our normal sales are usually P2 billion, our sales in December are P2.5 billion. And we're targeting P3 billion. If we have to do it again, we will do it again to increase our sales," Sio said.

The Bangko Sentral ng Pilipinas also dispelled fears of a glut in the property market, saying there was no evidence of an asset price bubble.

"So far, if you would look at the various indicators, we are nowhere close to an asset price bubble in the real estate industry," BSP Deputy Governor Diwa Gunigundo said.

In the first nine months of 2011, SMDC sold about 7,900 residential units worth approximately P17.6 billion.

As of end September, SMDC has 16 residential projects in the market, including M Place@Ortigas and Mezza 2 Residences.

In 2012, SMDC is looking to launch at least 5 more projects.

http://www.abs-cbnnews.com/business/12/23/11/smdc-gets-sales-boost-after-offering-discounts-condos

Ady001

December 24th, 2011, 03:31 AM

^^ Maraming mangagalaiti sa galit na mga OFWs diyan, kasali na ang fully paid na Condo ng relatives ko sa Green Residences.

Planning Democracy

December 24th, 2011, 04:22 AM

salamangkero

December 24th, 2011, 02:37 PM

40% discount sa TCP? which SMDC project location?

todjikid

December 24th, 2011, 02:54 PM

todjikid

December 24th, 2011, 02:55 PM

pinag-iisipan ko dapat ang isa pang condo (amaia) by february...pero wag na muna...wait and see muna ako.

Ady001

December 24th, 2011, 04:50 PM

lahat ng projects ng SMDC may discount pero hindi pare-pareho...yung mga off-sized units lang daw ang 40% off...hmmm...kung ako bumili ng october to november at biglang mababalitaan ko to...manggagaliiti din ako sa galit.

When you say off-sized units, what do you mean?

I'd say I would've been very lucky if I get a 2-3 bedroom condo unit with this 40-50%. Other firms might follow suit. This real estate speculation has to end somehow.

Ady001

December 24th, 2011, 04:51 PM

pinag-iisipan ko dapat ang isa pang condo (amaia) by february...pero wag na muna...wait and see muna ako.

I'm itching to buy good A-list properties in my hometown but with my income and my monthly padala it might not make it.

tj_brewed

December 26th, 2011, 01:28 AM

Probably eto yung mga units with weird cuts.

tj_brewed

December 26th, 2011, 01:32 AM

ang daming naka linyang projects ng mga developers pero wala namang new roads or expansion ang gobyerno. tapos halos lahat ng projects ay sa metro manila lahat. ngayon pa nga lang grabe na ang traffic eh di mas lalo na pag natapos lahat ang mga residential buildings na yan.

Lalo na going east of Metro Manila where dumadami na rin ang residential projects (Pasig to Cainta area). :ohno: Ortigas Avenue -Ortigas Extension - Junction

tj_brewed

December 26th, 2011, 01:33 AM

Start of real estate bubble.... :ohno:

SMDC gets sales boost after offering discounts on condos
:ohno:
abs-cbnNEWS.com
Posted at 12/23/2011 5:13 PM | Updated as of 12/23/2011 5:13 PM

"So far, if you would look at the various indicators, we are nowhere close to an asset price bubble in the real estate industry," BSP Deputy Governor Diwa Gunigundo said.
http://www.abs-cbnnews.com/business/12/23/11/smdc-gets-sales-boost-after-offering-discounts-condos

Which indicators?

[jeyps]

December 26th, 2011, 05:02 AM

Probably eto yung mga units with weird cuts.

exactly... malamang mga kulang sa sukat o tipo na meron malalaking poste sa loob ng unit... kaya sale. o kaya, meron changes sa floor plan n naapektukahan ang mga unit on sale.
khit nmn ung department store ng sm.... sasabihin may 3 days sale... tas ung mga naka-sale ung mga lumang items n indi mabili.:nuts:

Officialdmcileasing

December 26th, 2011, 06:10 AM

Which indicators?

There has been an increase on their sales since condos have discount.. Good Marketing plan.. :):)

InfinitiFX45

December 26th, 2011, 04:49 PM

No sign of property bubble in Phl - Tetangco :banana: :cheers: :banana: :cheers: :banana: :cheers:

by Lawrence Agcaoili | The Philippine Star | December 26, 2011 | 12:00

MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) reiterated that asset prices in the Philippines have not reached ‘bubble-like’ proportions amid the uncertainties brought about by the growth concerns in the US and the debt crisis in Europe.

BSP Governor Amando Tetangco Jr. said in an interview that property prices in the country remained stable and well below the levels prior to the Asian financial crisis.

“There is no sign of a property bubble yet. Prices that we see now are substantially less in real terms than those right before the Asian crisis,” he said.

Data from property research firm Colliers International indicated that implied land values in the Makati central business district and Ortigas Center increased in the second quarter from the quarter- and year-ago levels.

Read More: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=762062

InfinitiFX45

December 26th, 2011, 04:55 PM

Century Properties ranks 3rd in condo pre-sales in Metro Manila :)

by Zinnia B. Dela Pena | The Philippine Star | December 26, 2011 | 12:00

MANILA, Philippines - Century Properties Group Inc. is now ranked number three in condominium pre-sales in Metro Manila as of Sept. 30, 2011, according to data from Colliers International.

The company increased its market share by 87 percent from six percent in 2010 to 10 percent in September this year, posting the biggest improvement among its peers.

Century Properties chief financial officer Jose Carlo R. Antonio said: “In 2011, Century has executed its business plan of differentiating its products, and selling to local residents and to the global Filipinos. We owe our success in 2011 to the market’s acceptance of Azure Urban Residences in Parañaque, Acqua Residences in Mandaluyong, and three towers in Century City including Centuria Medical Makati , Milano Residences and Trump Tower Manila.”

Read More: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=762074

InfinitiFX45

December 26th, 2011, 05:14 PM

Century Properties bares P4.8-b QC condo project :)

by Jenniffer B. Austria | Manila Standard Today | December 26, 2011

The Century Properties Group is spending P4.8 billion to develop a 12-hectare property along Commonwealth Avenue in Quezon City into a mid-rise residential project.

Century Properties chairman Jose Antonio told reporters the project will target the middle-income households, with individual units priced between P1 million and P3 million.

“Now is the good time for home buyers to make their move because interest rates are low and financing is available,” Antonio said.

The company will launch its first project in Quezon City by the last quarter of the year through middle-income housing unit Century Limitless.

Read More: http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/october/3/business2.isx&d=2011/october/3

InfinitiFX45

December 26th, 2011, 07:10 PM

Araneta Center as residential haven Manhattan Garden :)

by MANILA BULLETIN | December 26, 2011, 2:53pm

MANILA, Philippines — The Araneta Center, the metro’s shopping capital, is now a residential haven as well with the start of the turnover process of Manhattan Garden City’s first phase.

Megaworld Corporation, the country’s top residential condominium developer and the Araneta Group’s joint venture partner, has started turning over units to the three towers of Manhattan Parkway Residence. The Art Deco styling of the towers plus the availability of shops and restaurants at the ground level arcade of Manhattan Garden City give the development a distinct New York City vibe.

“Five years since the Araneta Group picked Megaworld to be their joint venture partner for this residential project, the redevelopment of the Araneta Center has been recorded at a rapid pace. The second phase of Manhattan Garden City is now rising fast, while the third phase, Manhattan Heights, is selling briskly,” Megaworld Central Properties Inc. president Anthony Charlemagne Yu said.

Read More: http://www.mb.com.ph/articles/346102/araneta-center-residential-haven

InfinitiFX45

December 26th, 2011, 07:36 PM

BSP shrugs off PH property price bubble concerns :banana: :cheers: :banana: :cheers: :banana: :cheers:

by: Michelle V. Remo | Philippine Daaily Inquirer | 2:05 am | Monday, December 26th, 2011

Although condominiums have mushroomed throughout the metropolis amid rising demand for residential property, the danger of an asset price bubble forming is remote, the Bangko Sentral ng Pilipinas (BSP) said.

According to BSP Governor Amando Tetangco Jr., there is an actual, not speculative, demand for property. He explained that bubbles would usually arise from too much speculation.

“There is still no sign of a property bubble,” Tetangco told reporters.

Read More: http://business.inquirer.net/36849/bsp-shrugs-off-ph-property-price-bubble-concerns

tj_brewed

December 26th, 2011, 10:32 PM

IMO, SMDC needed to do those discounted condos coz they have several units with weird cuts or as what they said "off sized". Ive seen some of those in Mezza unfortunately.

One of my friends has a place in Chateau Elysee and (i dont wanna offend anyone from SMDC here or those who got units there) pero may pagka irregular din yung layout nung unit nya with huge poste in the middle of her unit. :(

Officialdmcileasing

December 27th, 2011, 03:54 AM

Ady001

December 27th, 2011, 04:18 AM

Guys, do you have any tips about investing in a foreclosed property? Is it safe or will it be the start of a very long process?

InfinitiFX45

December 29th, 2011, 05:48 AM

Medi-spa, residences for retirees :)

Manila Bulletin | December 29, 2011 | 3:55am

MANILA, Philippines — A fulfilling retirement can be enjoyed amid a scenic space where care, friendly services, fun activities and life-enhancing engagements are well integrated. Saujana Premiere Medi-Spa Hotel and Residences is a16-hectare wellness and senior living residential project in Silang, Cavite.

Saujana Premiere of PCK Trade & Development Corp. and Saujana Realty Corp. is a complex where senior residents enjoy their independence in the company of new and old friends.

The Residences meanwhile offers exclusive amenities including club house, lounge, gardens and eco-trails, game room, computer room, crafts room, swimming pool, library, and mini-theater. Communication services, Wi-Fi access, and shuttle service are also available.

Read More: http://www.mb.com.ph/articles/346376/medispa-residences-retirees

InfinitiFX45

December 29th, 2011, 05:53 AM

GK, SMDC Enter Socialized Housing :)

by BERNIE CAHILES-MAGKILAT | December 28, 2011 | 11:19pm

MANILA, Philippines — Gawad Kalinga (GK) and residential property developer SM Development Corp. (SMDC) entered into a Memorandum of Agreement (MoA) which covers the latter’s donation to GK of a 3.84-ha property, as a part of the developer’s compliance with the 20% socialized housing requirement imposed by the Board of Investments (BoI) on registered housing projects.

This is the first MoA entered into by GK in relation to its accreditation as a participating institution with the BoI.

As an accredited institution, Gawad Kalinga is authorized to receive from registered vertical housing developers contributions, which may include cash or in kind (land and construction materials or components) and construction of socialized housing units and/or educational facilities.

Read More: http://mb.com.ph/node/346365/gk-

Officialdmcileasing

December 29th, 2011, 07:40 AM

^^ Very Nice! :thumbs: :) :)

tj_brewed

December 30th, 2011, 04:00 AM

Here's a nice read:

Is it still safe to invest in Philippine real estate?
Number Don't Lie
By ANDREW JAMES MASIGAN
December 12, 2011, 4:06am

http://www.mb.com.ph/articles/344511/is-it-still-safe-invest-philippine-real-estate

MANILA, Philippines — The building boom in Metro Manila and key cities across the country has been on full throttle for nearly eight years now. From office buildings to housing projects, hotels to shopping malls, construction continues to grow at exponential rates.

With the prolonged explosion of the construction industry, many are beginning to wonder…are we now approaching the point of glut? Is a real estate bubble about to burst? After all, we all know that real estate markets operate in cycles.

InfinitiFX45

December 30th, 2011, 11:50 PM

PH’s most anticipated projects of 2012 :banana: :cheers:

by: Charles E. Buban | Philippine Daily Inquirer | 5:26 am | Saturday | December 31st, 2011

COUNTRY’S TALLEST. Artist’s illustration of Gramercy Residences at Century City
With 2012 just one more day away, perhaps, it’s time to raise our champagne glasses and offer a toast to all the wonderful new structures as well as residential developments we will be anticipating in the coming months.

These are no ordinary projects as they are set to become iconic if not meaningful for a country that seeks solutions to sustainability challenges as well as international acclamation.

While there are several grand projects that will see completion or turnover in 2012, these four are perhaps worthy of our attention.

Read More: http://business.inquirer.net/37791/ph%e2%80%99s-most-anticipated-projects-of-2012

InfinitiFX45

December 31st, 2011, 12:34 AM

Eton sees sales lift from OFWs :banana: :cheers: :banana: :cheers: :banana: :cheers:

by : Krista Angela M. Montealegre | Manila Times | Saturday | December 31, 2011

Eton Properties Philippines Inc. is bullish on the prospects of its middle-income projects next year anchored on the strength of overseas Filipino worker remittances.

In a statement, Danilo Ignacio, Eton president, said the middle-income projects now account for
about a third of the developments in Metro Manila, fuelling the real estate industry’s growth.

“The outgoing year has seen brisk take up of our middle income projects,” said Ignacio.

“We see this continuing next year given the now established preference of the market for residential projects like Belton Communities Inc. as these are not only accessible to their workplace, but also have excellent features and amenities,” he said.

Read More: http://www.manilatimes.net/index.php/business/top-business-news/14160-eton-sees-sales-lift-from-ofws

Fraulein

December 31st, 2011, 03:24 AM

PH’s most anticipated projects of 2012
By: Charles E. Buban
Philippine Daily Inquirer

http://business.inquirer.net/37791/ph%E2%80%99s-most-anticipated-projects-of-2012

http://business.inquirer.net/files/2011/12/gramercy-residences-300x173.jpg

With 2012 just one more day away, perhaps, it’s time to raise our champagne glasses and offer a toast to all the wonderful new structures as well as residential developments we will be anticipating in the coming months.

These are no ordinary projects as they are set to become iconic if not meaningful for a country that seeks solutions to sustainability challenges as well as international acclamation.

While there are several grand projects that will see completion or turnover in 2012, these four are perhaps worthy of our attention.

1 Philippines’ most eco-responsible high-rise building. The bamboo-and-flowing-water-inspired Zuellig building located at the corner of Makati Avenue and Paseo de Roxas in Makati City is scheduled to be completed in 2011.

Within this 33-story building lie several innovative technologies that enabled it to become the country’s first to be precertified as Gold level under the Leadership for Energy and Environmental Design Core and Shell (LEED-CS) program of the United States Green Building Council.

Upon completion, the Zuellig building is even aiming for the LEED Platinum certification, the highest level granted by the USGBC.

Compared to other conventional Prime and Grade A buildings in the country, tenants of the Zuellig building are set to enjoy cost savings of at least 15 percent in energy consumption or a minimum of 4.3-million kilowatt hours saved per year.

Productivity of employees working in “green” buildings may increase by up to 18 percent, considering that in the case of Zuellig, 90 percent of the tenants’ interior spaces will use natural daylight and that the structure will employ carbon dioxide monitoring system (pump fresh, conditioned air whenever necessary) that could ensure occupants’ health and safety.

As a result, tenants are set to gain from a boost in their image and branding, which may even contribute to stronger business in the long run.

2 The country’s tallest building. Towering near the intersection of Makati Avenue and Kalayaan Avenue is the newly crowned tallest building in the Philippines.

Launched in 2007, The Gramercy Residences at Century City rises 73 stories or 302 meters beating the previous title holder, the 52-story- and 259-meter Philippine Bank of Communications Tower on Ayala Avenue.

The Gramercy Residences at Century City, which is the first residential tower to rise at the 3.4-hectare mixed-use Century City, is set to be completed and turned over to its residents in 2012.

John Victor Antonio, COO of the building’s developer, Century Properties, is specially proud of the structure considering that the topping off of Gramercy Residences at Century City early in January 2011 coincided with the company’s 25th anniversary.

Aside from the prestige that the building offers its future residents, Gramercy Residences at Century City will feature three floors of hyper-amenities called the Skypark.

Located 36 stories above the ground and traversing the entire width of the building, the breathtaking Skypark will feature waterfalls, infinity pools, a designer restaurant, health club and more.

3 Philippines’ latest international caliber indoor arena. With a full house capacity of 20,000, the SM Mall of Asia Arena is 5,000 more than the current benchmark in sports and concert venues, the Smart Araneta Coliseum.

Set to open in May 2012, the SM MOA Arena is set to become the new home of the University Athletics Association of the Philippines and the National Collegiate Athletic Association.

The MOA Arena in Pasay City features world-class standards of operations and premium facilities—considering that it even plans to invite teams of the National Basketball Association to hold its games here—including seats that feature cup holders and those that could be retracted.

The MOA Arena also offers 40-room corporate suites that could accommodate 20 persons (each room has its own mini-bar, couches, restroom and viewing area).

It is connected to a 2,000-capacity car park.

4 The country’s most exclusive yet affordable enclave. For a minimum of just P2.3 million and with payment terms of up to 48 months, The Grove by Rockwell is perhaps the best offer that emerging professionals, newlyweds and starting families may be able to enjoy as they aspire for the most luxurious and most exclusive life.

Located on E. Rodriguez Jr. Avenue (C5) near the corner of Ortigas avenue in Pasig City, The Grove by Rockwell is the first foray in the upper middle-income market of high-end real estate developer Rockwell Land Corp.

Early buyers must be celebrating as Rockwell Land is set to turn over the two of the six 24-story towers in June 2012. These two towers will feature units made up of a mix of garden units, flats, lofts and Z-lofts.

Designed to bring the Rockwell lifestyle to Ortigas, The Grove by Rockwell is designed for those who demand luxury and comfort.

Seventy-five percent of 5.4 hectare property was devoted to open space and landscaped greenery. Rockwell Land Corp. even partnered with Dallas-based architect Don Wilder and world-class landscape artist Karl Princic to create secluded pocket gardens, winding trails and landscapes that will give its residents the feeling of being far away from the city (despite the fact that the place is just right across shopping mecca, the Tiendesitas.

InfinitiFX45

December 31st, 2011, 06:30 AM

^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^

DOUBLE POSTING !!! Please check previous post #828 :ohno:

ralfy

December 31st, 2011, 07:59 AM

Fallout from the U.S. real estate crash is now affecting even China. Given that, expect more real estate bubbles to pop, and with high oil and food prices, contributing to more economic problems.

InfinitiFX45

January 2nd, 2012, 08:46 AM

Megaworld cited as PH’s top condo from 2000-2011

by Doris C. Dumlao | Philippine Daily Inquirer | 12:09 pm | Monday, January 2nd, 2012

MANILA, Philippines–Property tycoon Andrew Tan-led Megaworld Corp. has kept its bragging right as the Philippines’ top residential condominium in over a decade accounting for about a 16 percent market share in this competitive industry, based on the latest property by property consultant CB Richard Ellis Philippines.

Citing the CBRE research, Megaworld disclosed to the Philippine Stock Exchange that it was recognized for launching the most residential condominium units from 2000 to 2011 which numbered more than 40,000.

The overall volume of units launched by Megaworld in the same period represented an estimated total aggregate saleable area of about 1.9 million square meters or 17 percent of the market.

Read More: http://business.inquirer.net/37943/megaworld-cited-as-phs-top-condo-from-2000-2011

InfinitiFX45

January 2nd, 2012, 06:31 PM

InfinitiFX45

January 2nd, 2012, 06:33 PM

Eton unveils One Centris Place

Manila Bulletin | January 2, 2012 | 2:51pm

MANILA, Philippines — Eton Properties Philippines, Inc. recently launched One Centris Place, the newest residential condominium in the 12-hectare Eton Centris township development of the Lucio Tan Group of Companies, located on EDSA corner Quezon Avenue.

One Centris Place will be composed of two towers. The first tower is a 26-story condominium offering one and two-bedroom units. The ground floor will house commercial establishments.

Being a resident in one of the units means all-year access to amenities like swimming pools for children and adults, multi-purpose area, landscaped gardens, children’s play areas, gym, among others.

Read More: http://www.mb.com.ph/articles/346755/eton-unveils-one-centris-place

tj_brewed

January 2nd, 2012, 11:08 PM

Megaworld eyes more projects this year :banana: :cheers:

by KRISTA ANGELA M. MONTEALEGRE | Manila Times | Tuesday | January 03, 2012

MEGAWORLD Corp. intends to launch more projects this year after being cited by CBRE Philippines as the country’s top developer in terms of units launched in the last 12 years.

In a disclosure to the Philippine Stock Exchange, the property firm of Andrew Tan-led Alliance Global Group Inc. will introduce 11 residential projects in the first half of the year, topping the eight developments launched for the entire 2011.

“We at Megaworld aim to open the year 2012 on a strong note. We are set to launch eleven residential projects in the first half of 2012,” said Francis Canuto, Megaworld senior vice president.

Read More: http://www.manilatimes.net/index.php/business/top-business-news/14280-megaworld-eyes-more-projects-this-year

In relation to this....

Megaworld to launch 11 residential projects in first six months of 2012

DEVELOPER Megaworld Corp. wants to firm up its residential portfolio by adding 11 developments in the first half of the year amid industry recognition of the firm’s robust condominium growth, a press statement showed yesterday.

Megaworld is currently developing over 40 residential and BPO (business process outsourcing) projects in Metro Manila, where the company launched eight new projects in 2011: One Eastwood Avenue, 101 Newport Boulevard, One Uptown Residence, Manhattan Heights Tower 2, Viceroy Tower 1, Greenbelt Hamilton and Belmont Luxury Hotel.

http://www.bworldonline.com/content.php?section=Corporate&title=Megaworld-to-launch-11-residential-projects-in-first-six-months-of-2012&id=44334

tj_brewed

January 2nd, 2012, 11:10 PM

DMCI optimistic this year, projects significant growth
http://www.bworldonline.com/content.php?section=Corporate&title=DMCI-optimistic-this-year,-projects-significant-growth-&id=44333

CONSUNJI-LED DMCI Holdings, Inc. expects to end 2011 with profits growing by a fifth, while the company is projecting a significant growth for 2012 as its power facility’s rehabilitation is set to be finished this year, an official has said.

The conglomerate’s net income attributable to its equity holders increased by 10.37% in the third quarter last year to P1.756 billion from P1.591 billion it had in 2010.

Meanwhile, DMCI Holdings, Inc.’s nine-month net income in 2011 hit P7.036 billion, 25.8% higher from P5.772 billion in year-ago levels.

Aside from construction, real estate, and power business, the firm has also interests in mining through its subsidiary Semirara Mining Corp., and water utility through Maynilad Water Services Inc., which is a consortium with Metro Pacific Investments Corp.
Shares of company rose by 2.66% to P42.40 per share.

mikael21

January 3rd, 2012, 04:15 AM

Great news! DMCI really offers unparalleled service to all of its valued clients! :banana:

sun-tex

January 3rd, 2012, 04:37 PM

tj_brewed

January 3rd, 2012, 10:43 PM

watch out for stocks

stock market are used for those companies who doesn't have enough money to roll out or invest in a certain projects, after they got money from it, they apply for DELISTING

better invest rather to gumble

Which companies? dba matagal na sa PSE ang developers such as Ayala Land, RLC, DMCI....so which companies were u referring?

InfinitiFX45

January 3rd, 2012, 11:46 PM

tj_brewed

January 4th, 2012, 01:40 AM

InfinitiFX45

January 4th, 2012, 05:21 AM

Megaworld launching 11 condo projects in first half of 2012 :banana: :cheers:

by Jenniffer B. Austria | Manila Standard Today | Tuesday | January 3, 2012

Megaworld Corp., the second-biggest property company in the country, plans to launch 11 residential projects in the first six months of the year in a bid to maintain its leadership as the country’s leading condominium builder.

“We at Megaworld aim to open the year 2012 on a strong note. We are set to launch 11 residential projects in the first half of 2012,” Megaworld senior vice president Francis Canuto in a statement said.

Megaworld, meanwhile, has been ranked as the country’s top residential condominium developer, based on the latest study of CBRE Philippines.

Read More: http://www.manilastandardtoday.com/insideBusiness.htm?f=/2012/january/3/business5.isx&d=2012/january/3

InfinitiFX45

January 4th, 2012, 05:26 AM

Megaworld eyes more projects this year :banana: :cheers:

by KRISTA ANGELA M. MONTEALEGRE | Tuesday | January 03, 2012

MEGAWORLD Corp. intends to launch more projects this year after being cited by CBRE Philippines as the country’s top developer in terms of units launched in the last 12 years.

In a disclosure to the Philippine Stock Exchange, the property firm of Andrew Tan-led Alliance Global Group Inc. will introduce 11 residential projects in the first half of the year, topping the eight developments launched for the entire 2011.

“We at Megaworld aim to open the year 2012 on a strong note. We are set to launch eleven residential projects in the first half of 2012,” said Francis Canuto, Megaworld senior vice president.

Read More: http://www.manilatimes.net/index.php/business/top-business-news/14280-megaworld-eyes-more-projects-this-year

mikael21

January 4th, 2012, 10:48 AM

^^
how nice there are lots of infra projects welcoming us this year! :)

sun-tex

January 4th, 2012, 12:07 PM

Which companies? dba matagal na sa PSE ang developers such as Ayala Land, RLC, DMCI....so which companies were u referring?
^^many to mention, a lot of them

tj_brewed

January 4th, 2012, 01:23 PM

^^many to mention, a lot of them

I see. I hope there would be valid proofs to substantiate this claim, so that we would be warned.

tj_brewed

January 4th, 2012, 01:24 PM

Megaworld is top PH condo developer for over a decade

by Zinnia B. Dela Peña | The Philippine Star | 01/03/2012 | 8:32 AM

MANILA, Philippines - Upscale property developer Megaworld Corp. emerged as the leading residential condominium developer in the Philippines for over a decade with 16 percent of the market, results of a recent study by real estate advisory firm CB Richard Ellis showed.

Megaworld has rolled out the most number of residential condominium units during the 12-year period from 2000 to 2011, totaling more than 40,000 units, the study noted.

The units account for an estimated total aggregate saleable area of about 1.9 million square meters or 16 percent of the market, according to CBRE.

Read More: http://www.abs-cbnnews.com/business/01/03/12/megaworld-top-ph-condo-developer-over-decade

Megaworld launching 11 condo projects in first half of 2012 :banana: :cheers:

by Jenniffer B. Austria | Manila Standard Today | Tuesday | January 3, 2012

Megaworld Corp., the second-biggest property company in the country, plans to launch 11 residential projects in the first six months of the year in a bid to maintain its leadership as the country’s leading condominium builder.

“We at Megaworld aim to open the year 2012 on a strong note. We are set to launch 11 residential projects in the first half of 2012,” Megaworld senior vice president Francis Canuto in a statement said.

Megaworld, meanwhile, has been ranked as the country’s top residential condominium developer, based on the latest study of CBRE Philippines.

Read More: http://www.manilastandardtoday.com/insideBusiness.htm?f=/2012/january/3/business5.isx&d=2012/january/3

Megaworld eyes more projects this year :banana: :cheers:

by KRISTA ANGELA M. MONTEALEGRE | Tuesday | January 03, 2012

MEGAWORLD Corp. intends to launch more projects this year after being cited by CBRE Philippines as the country’s top developer in terms of units launched in the last 12 years.

In a disclosure to the Philippine Stock Exchange, the property firm of Andrew Tan-led Alliance Global Group Inc. will introduce 11 residential projects in the first half of the year, topping the eight developments launched for the entire 2011.

“We at Megaworld aim to open the year 2012 on a strong note. We are set to launch eleven residential projects in the first half of 2012,” said Francis Canuto, Megaworld senior vice president.

Read More: http://www.manilatimes.net/index.php/business/top-business-news/14280-megaworld-eyes-more-projects-this-year

Seems like it would be an exciting 2012 for Megaworld :okay:

red_jasper

January 11th, 2012, 12:03 AM

DMCI bares 7 condominium projects

DMCI Homes, the property development unit of DMCI Holdings, announced Tuesday at least seven new residential condominium projects that will be unveiled in 2012, investing up to P18 billion or around 6,088 units of fresh inventory in the burgeoning local mid-income property market.

These new projects – located in key, strategic areas within Metro Manila – are in line with the developer's unique proposition of providing top-quality condominium homes to young families. Such developments continue to live up to the company's reputation for pioneering genuine resort-inspired residential condominium communities.

Additionally, compared to entry-level studio units mostly comprising the mid-income segment, DMCI Homes offers more spacious options such as two-bedroom units, which are considered its standard or most popular offering among buyers.

The projects will be a mix of mid- to high-rise vertical community developments. These include: Zinnia Towers, located along a prime property along North EDSA, Quezon City; One Castilla Place in Valencia, Quezon City; a high-rise development in another prime Quezon City location along A. Bonifacio Street; Verawood Residences in Acacia Estates, Taguig; Torre de Manila a high-rise development in Taft Avenue in Ermita, Manila and Serissa Residences, a medium-rise community along Alabang-Zapote Road in Las Piñas.

Full story here (http://networkedblogs.com/sywwF)

Officialdmcileasing

January 11th, 2012, 02:11 AM

^^ DMCI Homes is the best choice for property investments. It also has many services available for its residential tenants. Anyone here who have tried the DMCI Homes Leasing Services. It's worth a check too. :) :lol:

[jeyps]

January 11th, 2012, 05:48 AM

What are the buyers' rights? Is there a way to protect the buyers' rights if the developer is delayed? How to deal with this?

InfinitiFX45

January 11th, 2012, 07:36 AM

DMCI unit launching P18B worth of projects :banana: :cheers:

Philippine Daily Inquirer | 11:25 pm | Tuesday | January 10th, 2012

DMCI Homes, the property development unit of listed DMCI Holdings, said it would unveil seven new residential condominium projects worth P18 billion this year.

In a statement, the company said these would translate to about 6,088 units of fresh inventory for the mid-income property market.

The new projects—to be put up in strategic areas in Metro Manila—are consistent with the developer’s unique proposition of providing top-quality condominium homes to young families.

Read More: http://business.inquirer.net/39107/dmci-unit-launching-p18b-worth-of-projects

red_jasper

January 11th, 2012, 08:00 AM

;87424490']What are the buyers' rights? Is there a way to protect the buyers' rights if the developer is delayed? How to deal with this?

^^ the HLURB is the agency tasked to enforce condo/subd buyers' rights, you may want to air any grievance you may have as such buyer before said office ;)

Ady001

January 11th, 2012, 09:27 AM

Here we are now guys...

Property bubble seen in the high-end market

MANILA, Philippines -- A property bubble is looming in the high-end market, an economist said.

In a briefing, Victor A. Abola, an economist at University of the Asia and the Pacific (UA&P), said the current demand for residences comes from end-users.

He sees no price hike in the lower to middle markets, specifically for homes that fetch between P2 million and P3 million. A housing backlog persists in this segment, with first-time buyers comprising the bulk of clients.

This is despite the increase in the number of condominium projects in the said price bracket launched by top builders like Megaworld Corp. and SM Development Corp.

http://www.interaksyon.com/article/21602/property-bubble-seen-in-the-high-end-market

tchitz

January 11th, 2012, 09:44 AM

http://www.interaksyon.com/article/2...igh-end-market

What a lousily written article that really didn’t say a whole lot and provided no justification for its trumpeted heading. It’s as if the writer is in the elementary or high school grade to write such an article devoid of an intelligent summary and stats. Hay naku.

Ady001

January 11th, 2012, 10:12 AM

^^ Can you expand why sir?

boypad

January 11th, 2012, 04:18 PM

^^ I believe the economist from UAP is saying the truth from what he research on the market. Just search on craiglist on Philippines condo properties for rent and lease you will be amazed on so many highend units for rent.

http://manila.craigslist.com.ph/apa/

There is a public perception that if you own a condo property in nearby BPO areas around in M. Mla. the chances for expat to lease your condo unit would be high. That perception is quite wrong. I myself was surprised when I've leased our condo unit beside a BPO district area last year and got an inquiry from an expat renter who try to lease our unit which is only below 20K semi-furnish studio unit. I ask the prospect expat why settle for a middle-to-low end condo when they can lease a much bigger & better condo. His answer was why spend so much money for luxury unit when you can live well with a low-middle end condo as long it has a broadband internet, aircon and cable tv. To end the story short, I leased our unit to Filipino family and not to a BPO expat :lol:

Ady001

January 12th, 2012, 02:58 AM

^^ I'd rather buy a lot in Metro Manila than get a condo unit.

On the other hand. The Philippines is not too hot on craigslist. If you want to sell your condo, it's either ayosdito or sulit.com.ph.

Officialdmcileasing

January 12th, 2012, 09:05 AM

I just published an article about how to determine fraud real estate agents. here's the link! Hope I share something! :)

http://goarticles.com/article/How-to-Determine-a-Fraud-Real-Estate-Agent/5939971/

tchitz

January 12th, 2012, 12:38 PM

^^ Can you expand why sir?

Article says:
He sees no price hike in the lower to middle markets, specifically for homes that fetch between P2 million and P3 million. A housing backlog persists in this segment, with first-time buyers comprising the bulk of clients.
Comment:
The two sentences are contradictory. If there is a housing backlog in this segment (P2-P3 mil) comprising of first time buyers, then it means construction hasn't kept pace with the demand, thus creating a backlog. Therefore, the right condition exist for a price increase. If the author is going to say something different than the norm, he should elaborate further.

Article says:
This is despite the increase in the number of condominium projects in the said price bracket launched by top builders like Megaworld Corp. and SM Development Corp.
Comment:
Now again, a seeming contradiction with the previous paragraph. If he now states that there is an increase in the number of condominium projects launched, and yet a backlog still persist in this segment as stated from the previous paragraph, then that scenario is precisely the conditions needed for price hikes. But the author stated the opposite – no price hike. Why oh why? A seeming contradiction that needs more explaining. You can’t make superfluous statements like that without backing it up as the reader is left hanging and wondering what the heck he means.

Article says:
... what is important is the purchasing power of the buyers, especially the OFWs,” Abola said. Because of this, the government must keep the peso from appreciating too much against the US dollar.
Comment:
Fine, the author has taken a stand by suggesting what the government must do by keeping the peso not appreciating too much against the dollar. That’s a very good point and valid.

Article says:
“I don’t think the BSP [Bangko Sentral ng Pilipinas] is going to put ‘speed bumps’ on capital inflows. Their intervention is more regulatory in nature. They do not want to scare investors away,” Abola said.
Comment:
Now now, wait a minute. You just earlier expressed the need for the Government to prevent the peso from appreciating too much, and now you are acknowledging that the BSP won’t intervene???? If you know that already, why suggest the opposite earlier (intervene)? When you make suggestion that you already know the government (BSP) won’t do, you need to elaborate more your point of view so as to overwhelmingly annihilate the opposing view. This, the author miserably failed to do and simply left the reader hanging and scratching their heads, and asking what the heck does he mean?

Article says:
Inflation this year is widely seen to stay benign. Add to that, the Philippine economy is expected to remain stable despite the debt crises in advanced countries. If both developments hold true, then capital flows would persist, pushing up the peso vis-a-vis the US dollar.
Comment:
Ah... if capital flow persist pushing the peso up, and you earlier acknowledged the purchasing power of OFW as important, then a peso hike will certainly erode the purchasing power of OFWs, thus diminish their ability to buy condos, how then would “Property bubble" arise as the heading suggest? Contradictory perhaps? Again, elaborate elaborate.

Conclusion:
The heading of his topic is about “Property bubble seen in high-end market”. Did he make sufficient justification to convince the reader? NO! His article is full of contradictions and at best amateurism in style and devoid of facts, stats & figures to back up his claims. It’s not an article written by a professional.

InfinitiFX45

January 13th, 2012, 12:56 AM

DMCI Homes eyes P13B from new residential projects

by Zinnia B. Dela Peña | The Philippine Star | January 13, 2012 | 12:00 AM

MANILA, Philippines - DMCI Homes, the property development unit of Consunji-led firm DMCI Holdings, is eyeing to generate P13 billion in sales from new residential units to be launched this year.

In its disclosure to the stock exchange, DMCI said its real estate arm is targeting to roll out at least seven new projects this year, equivalent to 5,800 units of fresh inventory.

The new projects will be a mix of mid- to high-rise vertical community developments, located in key strategic areas within Metro Manila.

Among these new projects include One Castilla Place in Valencia, Quezon City; Zinnia Towers (located along North EDSA, Quezon City), a high-rise development in another prime Quezon City location along A. Bonifacio St.; Verawood Residences in Acacia Estates, Taguig; Torre de Manila, a high-rise development in Taft Ave. in Ermita, Manila; and Serissa Residences, a medium-rise community along Alabang-Zapote Road in Las Piñas.

Read More: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=767238

Officialdmcileasing

January 13th, 2012, 02:17 AM

^^ DMCI is expanding! Wooh!

Anyway.. :) I just want to share this!

What is better, Renting or buying a house?

http://goarticles.com/article/What-is-Better-Renting-or-Buying-a-House/5922647/

InfinitiFX45

January 13th, 2012, 07:05 PM

FTI Attracts 4 Property Developers :banana: :cheers:

Manila Bulletin | January 13, 2012 | 11:46pm

MANILA, Philippines — The Department of Finance (DoF) said yesterday that there are three to four interested companies in the 103-hectare Food Terminal Incorporated (FTI) property in Taguig City.

Finance Undersecretary John Philip P. Sevilla said in an interview with reporters that the Aquino administration is determined to sell the agro-industrial commercial estate for more than P8 billion this year.

Finance Secretary Cesar V. Purisima earlier said the government will enter into a negotiated bid for the disposal of FTI after its three failed bidding during the previous administration.

Purisima said that the sale of the property was moved to this year and a reappraisal is currently being conducted by state-owned lender Land Bank of the Philippines.

The property has been offered to giant developers including the Ayala Group, Robinsons Land, Henry Sy’s SM Development Corporation and Empire East Land Holdings.

FTI is a 120-hectare agro-industrial commercial estate in Taguig. It was originally built to be a food processing and consolidation center for agricultural products. It houses more than 300 small-to-medium scale companies engaged in different industries such as manufacturing, garments and electronics. Of the 120-hectare property, the government is selling 103 hectares because the remaining 17 hectares are owned by cash-strapped National Food Authority (NFA).

FTI is among the three big-ticket items the Macapagal Arroyo administration had attempted to sell. (CSL)

Source: http://www.mb.com.ph/articles/348024/fti-attracts-4-property-developers

Ady001

January 14th, 2012, 04:01 AM

Question ko lang...

Why can't we emulate the HDB of Singapore? It's quite weird that Studio apartments are being sold to singles who obviously will have growing needs in the future as opposed to those who will be 55 or above.

ralfy

January 15th, 2012, 09:29 AM

We may be looking at real estate buoyed by increasing credit, similar to what is happening in other parts of Asia and to the U.S. right before the '08 crash.

Now, real estate in China is experiencing difficulties, particularly in the form of real estate bubbles.

Officialdmcileasing

January 16th, 2012, 02:16 AM

I would be sharing articles about apartment renting. I hope everybody would take some time to read each articles which is especially created in order to give ideas and tips on residential tenants renting a condo or apartment. For the first article:

Facts About Philippine Real Estate

One of the latest trends in businesses today is real estate. If you want to earn huge and be wealthy then investing in real estate is one of the best choice. In this article I'm going to be discussing the real estate economy in the Philippines. Just like in other countries across the globe, the Philippines real estate market is a very competitive. With the continuous increase of customer service representatives in the country, the country's real estate market has been through a number of major improvements, too.

Read Entire Article (http://goarticles.com/article/Facts-About-Philippine-Real-Estate/5875505/)

Officialdmcileasing

January 17th, 2012, 01:44 AM

Another article that I want to share.

Common Mistakes Homeowners Do When Selling a House

In today’s current status of real estate homeowners experiences the difficulty of selling a house they own. Some homeowners don’t even want to sell their houses because the prices are continually dropping. Some even prefer listing this house as an apartment for rent and when prices improved that is the time they are going to sell the property. Let us say that prices improved and a homeowner decided to put his house available for sale. Of course the house owner would like to sell the property as soon as possible but home owners must be aware with the common mistakes they should avoid in selling their house.

Read Entire Article Here! (http://www.amazines.com/article_detail.cfm/3767256?articleid=3767256&title=apartment%2Cfor%2Crent%2Cselling%2Ca%2Chouse)

[jeyps]

January 17th, 2012, 05:56 AM

When is the legal time that the developer should require buyers to pay for assoc dues? Should buyers pay for dues in advance even the facilites are not fully functional? Should buyers pay for dues even there is no acceptance yet for the unit and turnover is not yet in process?

red_jasper

January 17th, 2012, 09:01 AM

^^ Re: condominiums/subdivisions... Payment of association dues is triggered by membership in the Association, so best to check from the contract/related documents, what particular act triggers membership in the association (most developers provide that: a unit buyer automatically becomes a member of the Association (a) upon receipt of notice of turnover of the unit by registered mail or personal delivery, or (b) from the date the buyer has actually taken possession and occupied the unit, or (c) upon the signing if the Deed of Absolute Sale, or (d) upon transfer of the unit title in the name of the buyer - whichever comes first.) Upon membership in the association, the unit owner will be obliged to pay the association or condominium dues, whether the unit is occupied or not, that is, even if the buyer has not moved in into the unit. :cheers:

Officialdmcileasing

January 18th, 2012, 01:46 AM

For this day I want to share:

Tips in Finding a Good Real Estate Agent :lol::lol:

Preview:

Having a home whether an apartment or a house you personally own is exciting and a fun experience. However it can also be very stressful and tiring. There are many factors needed to be considered and a person must have enough knowledge about the real estate world. In some cases people prefer hiring a real estate agent or broker that will serve as a mediator between the buyer or seller and the company. This might sound simple yet a home buyer or seller must be careful enough on choosing a real estate agent, in some places these so called real estate agents are fraud which actually just takes money without a guarantee.

Read Entire Article Here! (http://ultimatearticledirectory.com/finance/real-estate/tips-in-finding-a-good-real-estate-agent/)

Have a nice day everyone! :):)

[jeyps]

January 18th, 2012, 03:43 PM

InfinitiFX45

January 23rd, 2012, 03:21 AM

BCDA mulls SM Land offer for Fort Boni lot :)

by Zinnia B. Dela Peña | The Philippine Star | Monday | 01/23/2012 | 9:22 AM

MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) said it expects to submit this week its final recommendations to the Office of the President, which will decide whether SM Land’s revised offer for the 33.1-hectare Bonifacio South property is acceptable as a basis for a Swiss challenge.

BCDA president and chief executive Arnel Paciano Casanova said the agency is thoroughly reviewing SM Land’s offer to make sure the government gets the best deal.

SM Land has committed to invest at least P20 billion in the project, an upfront cash of P2 billion upon signing of the joint venture contract, as well as secured annual revenues for 20 years totaling P25.9 billion.

Read More: http://www.abs-cbnnews.com/business/01/23/12/bcda-mulls-sm-land-offer-fort-boni-lot

InfinitiFX45

January 23rd, 2012, 03:29 AM

Court affirms Taguig’s ownership over Fort Boni :)

by abs-cbnNEWS | 01/23/2012 | 7:32 AM

MANILA, Philippines - The Pasig Regional Trial Court has affirmed an earlier ruling awarding the territorial jurisdiction of Fort Bonifacio to Taguig City.

This means that Taguig City has ownership over the 200-hectare Bonifacio Global City complex, as well as other portions of Fort Bonifacio where the Philippine Army headquarters, Navy installation, Marines’ headquarters, Consular area, JUSMAG area, Heritage Park, Libingan ng mga Bayani, AFP Officers Village and six villages are located.

The decision also declared unconstitutional Presidential Proclamations No. 2475, Series of 1986 and No. 518, Series of 1990, for altering the boundaries of Taguig without the benefit of a plebiscite.

These proclamations cover the barangays of Cembo, South Cembo, West Cembo, East Cembo, Comembo, Pembo and Pitogo. This means that Makati should yield jurisdiction over the seven barangays surrounding the military camp, said Taguig lawyer Arturo Corvera in a statement.

Read More: http://www.abs-cbnnews.com/business/01/22/12/court-affirms-taguig%E2%80%99s-ownership-over-fort-boni

InfinitiFX45

January 23rd, 2012, 04:04 AM

Ayala Land sees bullish growth in 2012 :)

by Zinnia B. Dela Peña | The Philippine Star | Monday | 01/23/2012 | 9:17 AM

MANILA, Philippines - Property giant Ayala Land Inc. expects to sustain its growth momentum this year following a strong performance in 2011, according to a top company official.

ALI president Antonino Aquino said the company remains bullish on the property sector given low interest rates, robust remittances from overseas workers, and continued strong demand for real estate.

Aquino said while the group has yet to finalize its 2011 financial figures, the results were “very good,” noting that the company maintained its upward momentum in the first nine months.

Read More: http://www.abs-cbnnews.com/business/01/22/12/ayala-land-sees-bullish-growth-2012

Officialdmcileasing

January 24th, 2012, 02:52 AM

For New Tenants and Landlords. Here's a tip for you.

Landlords and Tenants Responsibilities :):)

Lease agreement establishes a bond between two parties, the tenant and the landlord. Both parties should completely understand their basic rights and responsibilities. Good communication between these two parties is required for them to both know what their expectations are. At the time a landlord accepts a tenant to rent the relationship already starts. A good relationship between the tenant and the landlord can be established if they know their obligations to one another.

Read Entire Article Here (http://goarticles.com/article/Landlords-and-Tenants-Responsibilities/5969117/) :banana: :banana:

InfinitiFX45

January 24th, 2012, 05:24 AM

DOF reiterates need to move New Bilibid Prisons :)

by Katrina Mennen A. Valdez | Tuesday | January 24, 2012

The Department of Finance (DOF) has reiterated the need to relocate the New Bilibid Prisons (NBP) in Muntinlupa to the outskirts of Luzon in order to attract investors for the planned privatization of the penitentiary.
John Philip Sevilla, DOF undersecretary told reporters that while the government is not barred by any legal impediment to sell the 447-hectare Bilibid property, it cannot attract investors pending the transfer of the NBP.

“The Bilibid property in Muntinlupa . . . at some point, it’s going to be sold. We already have the legal basis to sell,” Sevilla said, who heads the DOF’s privatization unit.

“Actually, the decision to sell it was made years ago. But [selling the property] is not that easy just like a snap of your fingers,” he added.

Read More: http://www.manilatimes.net/index.php/business/top-business-news/15664-dof-reiterates-need-to-move-new-bilibid-prisons

InfinitiFX45

January 24th, 2012, 06:02 AM

Bilibid lot sale faces snag :ohno:

by Elaine R. Alanguilan | Manila Standard Today | Tuesday | January 24, 2012

The non-relocation of the New Bilibid Prison in Muntinlupa City is deterring government’s plan to sell the sprawling jail complex, Finance Undersecretary John Philip Sevilla said over the weekend.

Sevilla told reporters the government has the legal basis to privatize the over 400-hectare property but it could not attract investor interest while the prison facility is there.

“The Bilibid property in Muntinlupa... at some point, it’s going to be sold. We already have the legal basis to sell,” said Sevilla during the Bangko Sentral ng Pilipinas’ annual fete for the banking community Friday.

“Actually, the decision to sell it was made years ago. But [selling the property] is not that easy just like a snap of your fingers,” he said.

“You have the jail there. It has to be moved,”added Sevilla, who heads the Finance Department’s privatization efforts.

Read More: http://www.manilastandardtoday.com/insideBusiness.htm?f=/2012/january/24/business1.isx&d=2012/january/24

RonnieR

January 24th, 2012, 06:52 AM

Officialdmcileasing

January 25th, 2012, 01:46 AM

Property Investment Topic: Investing in Real Estate

There are a variety of different techniques today that people can use to set there selves up economically for the rest of their lives. Many people worked on large companies, some set-up their own businesses; some became television personalities, government leaders and others. Also, the real estate investment is one of the most popular paths to become wealthy nowadays. According to Wikipedia.org, Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate for profit. Thus, many people are into investing on this type business whether they are selling, buying, building and even renting a property which can be either commercially or personally owned. Also, improvement of realty property as part of a investment strategy is generally considered to be a sub-specialty of real estate investing called development. Yes, investing in real estate is a great way to grow your wealth if done responsibly. So before investing to this a person should be conservative in financing, with an understanding of the tax implications and wide knowledge about the business.

Read Entire Article (http://goarticles.com/article/Property-Investment-Topic-Investing-in-Real-Estate/5868331/) :):)

the glimpser

January 25th, 2012, 01:07 PM

Megaworld earmarks P45B for Fort Boni project

MANILA, Philippines - Megaworld Corp., a listed property developer controlled by businessman Andrew Tan, is set to spend P45 billion over the next 20 years for the development of a 15-hectare township district in Bonifacio Global City, Taguig.

In a disclosure to the Philippine Stock Exchange, Megaworld said it will develop "Uptown Bonifacio", located in the northern area of the Global City, into a mixed-use residential and business district.

Uptown Bonifacio will have up to 18 towers, offering a total potential development of 500,000 square meters of residential space, 400,000 square meters of office space and 90,000 square meters of retail space.

The first residential offering in the district is the 45-storey One Uptown Residence, which is valued at P7.5 billion. The building will have a basement retail strip that will connect to the 3-level Uptown Place, which will have 33,000 square meters.

Uptown Bonifacio will also have a P12-billion corporate block, featuring 4 towers with 140,000 square meters, along its main street Megaworld Avenue.

The business district development will be constructed under the BERDE (Building for Ecologically Responsive Design Excellence) rating system. The office buildings will have cutting-edge architecture; double-glaze glass walls, sky gardens and a lagoon.

http://www.abs-cbnnews.com/business/01/25/12/megaworld-earmarks-p45b-fort-boni-project

the glimpser

January 25th, 2012, 01:22 PM

PH property market to remain upbeat in 2012: CBRE

MANILA, Philippines - Demand for residential condominiums will remain strong in 2012, while the office market will continue to be driven by the business outsourcing industry, according to CBRE Philippines.

High-end condominiums will still be in demand, but property developers will start focusing on developing condominiums aimed at the middle market.

Affordable condominium developments will cater to the broad mid-income market, which includes young professionals and families who want homes in Metro Manila, Metro Cebu and Davao.

A total of 105,722 units are expected for turnover this year, while at least 14,112 residential condominium units (around 743,438 square meters of saleable area), are estimated to enter the market in 2012.

The past decade has been good for the residential condominium market in the Philippines. CBRE Philippines noted a total of 259,380 residential condominium units were launched from 2000 to 2011. Except for 2005 and 2008, when the number of units launched dropped, the total number of condo units has been increasing steadily.

Office space

Business process outsourcing companies have been driving the demand for office space. Rental recovery in major business districts such as Makati, Alabang, Quezon City, Fort Bonifacio and Ortigas, has been observed in 2011.

Despite the higher rents, the Philippines remains the top outsourcing destination because its lease rates are one of the cheapest in Asia.

CBRE Philippines said the takeup of leasable office space in 2012 may reach a high of 400,000 sqms in 2012.
http://www.abs-cbnnews.com/business/01/25/12/ph-property-market-remain-upbeat-2012-cbre

InfinitiFX45

January 25th, 2012, 07:43 PM

Robinsons Land to open 4 budget hotels :)

by ABS-CBNnews.com | 01/25/2012 | 1:27 PM

MANILA, Philippines - Gokongwei-led property firm Robinsons Land Corp. is opening four new budget hotels in the first half of 2012.

In a statement, Robinsons Land said it will open 4 hotels, under the Go Hotel brand, in Palawan, Dumaguete, Tacloban and Bacolod.

The Go Hotel in Puerto Princesa will be opened next month. It is located within the proximity of Robinsons Mall Palawan.

"We are very excited with our newest venture, most specially that Puerto Princessa is one of the most popular tourist destinations in the Philippines," gohotels.ph general manager Elizabeth Gregorio said.

Robinsons Land said travelers can take advantage of low rates by booking early on the website www.gohotels.ph.

"We are expecting both local and foreign tourists to avail of our facilities, which has made gohotels.ph a much sought after hotel accommodation in its category," Gregorio added.

The first Go Hotel, located along Pioneer Street in Mandaluyong, was opened in 2010.

"With the opening of 3 more hotels before the year ends, gohotels.ph will be able to service more travelers in several popular destinations," Gregorio said.

Source: http://www.abs-cbnnews.com/business/01/25/12/robinsons-land-open-4-budget-hotels

InfinitiFX45

January 26th, 2012, 04:13 AM

Condominium, office space demand to go up :banana: :cheers:

by KRISTA ANGELA M. MONTEALEGRE | Manila Times | Thursday | January 26, 2012

REAL estate services and advisory firm CB Richard Ellis (CRE) Philippines sees no glut in the residential sector, while the outlook for the office sector remains bullish despite efforts in the United States to discourage companies from outsourcing.

In a briefing, Jose Luis Matti 3rd, CBRE Philippines executive director, said that demand of residential condominium units have kept up with supply with sales take-up growing year on year.

Take-up of units at a price range of P40,000 to P80,000 per square meter rose from 70 percent in 2010 to 71 percent in 2011, while take-up of units ranging from P80,000 to P100,000 per square meter improved to 79 percent in 2011 from 76 percent in 2010.

“Developers have put in a lot of safeguards like only breaking ground when certain percentage of the project is committed . . . The industry is regulating itself and going along with the economy,” Matti said. A total of 105,722 units are expected for turnover starting this year while at least 14,112 residential condominium units or no less than 743,438 square meters of saleable area estimated to enter the market in 2012, mostly catering to the middle-income segment.

“Current supply is based on current demand. Developers are building according to perceived demand. I think supply should be good in the next few years,” Matti said.

Read More: http://www.manilatimes.net/index.php/business/top-business-news/15774-condominium-office-space-demand-to-go-up

Officialdmcileasing

January 26th, 2012, 08:29 AM

How to Improve the Security of Your House

Crime rate all over the world is rapidly increasing. In 2009 the crime rate in the Philippines has increase to 63% comparing from the previous years. Theft is one of the major crimes that have occurred in the country. These have alarmed many people because their safety is at risk. In this article we will discuss some tips in order to increase and improve the security of your house.

Read Entire Article Here (http://goarticles.com/article/How-to-Improve-the-Security-of-Your-House/5997945/):cheers::cheers:

Officialdmcileasing

January 26th, 2012, 08:31 AM

Duplicate.. Sorry

Officialdmcileasing

January 27th, 2012, 10:42 AM

Here guys! Another article..

Understanding the Real Estate Market

The real estate industry has been on of the most widely known and most successful form of business in the whole world. Many property investors and businessmen have gained good results on real estate. This 2012 it is expected that the rate of people who invests in this form of business will notably increase even though prices are not stable and even very low. If you are one of the people who are planning to enter the real estate industry it is essential that you first know how the real estate market works. Please carefully read and understand the content of the article for your benefit.

Read Entire Article Here! (http://goarticles.com/article/Understanding-the-Real-Estate-Market/6008893/)

ralfy

January 27th, 2012, 05:51 PM

Watch out for real estate bubbles. Take a good look at what's happening to China, and what happened to the U.S. before the '08 crash.

boypad

January 27th, 2012, 07:15 PM

^^ I know there already there is a sort of real estate bubble going on already since last year. Two of my officemates who lived in different condo complex with two different developers already started to notice that some of their co-neighbors have already filed up a huge amount of unpaid condo dues since last year. The other was saying that 50% of total unit owners had filed up unpaid condo fees. While the other one around 40% unpaid condo dues. In addition to this around 20% had already default in their monthly amortization mostly previous owner who earn living in US/UK/NA. To further prove what I'm saying just buy a sunday newspaper specially Manila Bulletin and you will be surprise to see a lot of foreclose residential properties being sale at a cheaper price. If you go searching online the situation is similar also. There is so much flooding of condo property for sale under secondary market competing for a brand new studio or 2~3bedroom category. Maybe it just a matter of time we realize the bubble had already burst :popcorn:

3cr

January 27th, 2012, 10:53 PM

PH AS INVESTMENT DESTINATION
On the radar but not yet at the center, expert observes
By: Tessa R. Salazar
Philippine Daily Inquirer
January 27th, 2012
http://business.inquirer.net/41709/on-the-radar-but-not-yet-at-the-center-expert-observes

Manila’s two-place climb in the global investment climate—from 20th to 18th—in the Emerging Trends 2012 Asia Pacific Survey conducted by the Urban Land Institute is but a small step toward changing the mindset of world-class investors. For the Philippines to become a serious investment destination, the country itself should change its business mindset.

That, in a nutshell, was what Carlos Rufino, Urban Land Institute founding chair, told Inquirer Property during a December 2011 interview. Rufino, who is also the president of TheNet Group and Forbes Park Association, urged that the country should weigh its priorities, especially now, as he observed, “We are not an investment destination yet.”

The January 19 launch of Emerging Trends in Real Estate 2012 Asia Pacific at the Cisco office in Citibank Tower gathered the country’s top property players and consultants, who held a Web conference with John Fitzgerald, executive director of ULI Asia Pacific, Stephen Blank, senior resident fellow, Finance, ULI, and Simon Treacy, chair of ULI South Asia.

Outlook

The Emerging Trends survey provides an outlook on Asia Pacific real estate investment and development trends, real estate finance and capital markets, and trends by property sector and metropolitan area. Covering 21 markets in the Asia Pacific, the survey is based on the opinions of more than 360 respondents who are internationally renowned real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.

Simon Treacy, ULI trustee and ULI South Asia chair, in an exclusive Inquirer Property interview last month, said he hoped the Philippines would make progress and stressed that the most relevant change would have to occur in the REIT (Real Estate Investment Trust) law. “It would be fantastic if the industry and the government can finally agree about the REIT law.”

Hesitant

Treacy told the January 19 crowd that personally, and with his investors, he would be hesitant talking about the Philippines until the REIT law is enacted.

CB Richard Ellis Philippines chair and CEO Rick Santos said the Philippines is “definitely on the radar,” citing the presence of the BPO sector and multinationals. “It’s not in the center of the radar, but it’s there.”

For Asia Pacific as a whole, Emerging Trends points out economic woes in the United States and Europe have been weighing upon local economies in the region as well as in Australia.

“Asia has no shortage of investment capital, and until the middle of 2011 there was more concern over inflationary pressures than lack of demand,” Tracy said.

“Suddenly, however, the prospect of a global relapse into recession had created mounting unease. There will be ongoing and significant uncertainty in the global and regional economies and real estate markets over the coming 12 months. Is this a crisis or opportunity? It’s both. Asia has entered the twilight zone, as there is still much to play out globally, given the debt and political issues in the States and Europe. It’s certainly time to reduce risk, focusing on cash flow as the report suggests.”

Emerging Trends noted that GDP growth for the country looks resilient despite global concerns, with over 4.6 percent growth estimated for 2011, followed by a slight increase in 2012 and stabilization at 5 percent from 2013 to 2015. Recently overtaking India as the largest supplier of call center services, the Philippines must continue to strive for domestic-based employment to sustain growth.

The survey described Manila’s investment climate as such: “A new government and a surge in foreign investment in the BPO market-back office and call centers, for the most part—have helped the commercial real estate market, boosting the city’s 2012 investment prospects to 18th from 20th. Development took an opposite turn this year, falling six spots to 17th.”

All buy/hold/sell property recommendations point to a holding or buying period throughout 2012, with over half those surveyed recommended a hold on industrial/ distribution, hotel, retail and office properties, while close to a third recommended buying in these sectors.

In the apartments sector, a slightly smaller group made hold recommendations. Office vacancy rates swayed according to property class, but the average was slightly up at around 4 percent at the second quarter of 2011. Take-up continued to be strong, however, especially in technology parks where BPO facilities are found.

Emerging Trends results show positive indicators in the apartment sector, as 33 percent of those surveyed thought now would be a good time to buy. Mixed-use facilities were still popular choices, and supply in that sector has continued to grow in Manila. Supply in this sector will see continued growth through 2013.

3cr

January 27th, 2012, 11:09 PM

Foreign investors unaffected by impeachment trial, say experts
By: Tessa R. Salazar
Philippine Daily Inquirer
January 20th, 2012
http://business.inquirer.net/40623/foreign-investors-unaffected-by-impeachment-trial-say-experts

First good news: Manila has just been upgraded in commercial investments prospects this year. Second good news: International property investors are not at all bothered by the ongoing impeachment trial proceedings in the Senate.

In an exclusive Web interview with Urban Land Institute trustee and South Asia chair Simon Treacy in the office of ULI Philippines founding chair Carlos Rufino on Dec. 14, 2011, he stated that he was aware of the showdown between Malacañang and the Supreme Court Chief Justice and stressed that this political issue would not affect the perception of foreign property investors.

“In majority of countries, I think people look at these headlines every day, they look beyond that and people such as investors as well as these respondents are interested in the Philippines increasingly.”

Inquirer Property reported last week that the Philippines has been an increasingly important destination for property investments. Manila was upgraded in commercial investment prospects by two ranks in the Emerging Trends in Asia Pacific 2012 (a real estate forecast jointly published by the Urban Land Institute and PricewaterhouseCoopers).

Manila’s improvement—from the 20th to 18th for this year—was largely due to the expected continued growth in the gross domestic product of the Philippines.

“A new government and a surge in foreign investment in the business process outsourcing market—back office and call centers, for the most part—have helped the commercial real estate market, boosting the city’s 2012 investment prospects,” the report stated.

Covering 21 markets in the Asia Pacific, the Emerging Trends ranking is based on the opinions of more than 360 respondents composed of internationally renowned real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.

the glimpser

January 28th, 2012, 02:06 PM

Ayala Land Seeks Hotels, Airports After Record 2011

Jan. 13 (Bloomberg) -- Ayala Land Inc., the biggest Philippine developer, plans to build more hotels and resorts, and bid for airport management contracts to broaden its revenue beyond residential and office projects.

The company, which developed the Makati City business center known as Manila’s Wall Street, said it is building its own hotel brand, called Kukun, starting with four properties. It also wants to manage and rebuild older airports, said Antonino Aquino, Ayala Land’s president.

“We’re generally interested in the airport business,” he said in an interview at his Makati City headquarters, adding that “tourism will be a government priority, so we’d like to be on that side. You will see us having a heavier foray into that business.”

Ayala Land is setting its sights on tourism-linked projects as the Philippine government offers as many as 16 infrastructure projects worth as much as 142 billion pesos ($3.2 billion) to boost growth with the aim of attracting 10 million visitors a year starting 2016.

The company plans to rebuild a resort under its El Nido Resorts brand that burnt down, and is looking for “further additions” through new developments or acquisitions, he said. It also plans to build more resorts in the central Philippine island of Visayas, he said.

Among the airports, Ayala plans to bid for projects in Cebu and Cagayan de Oro City, he said.
http://www.businessweek.com/news/2012-01-15/ayala-land-seeks-hotels-airports-after-record-2011.html

RonnieR

January 29th, 2012, 08:11 AM

Although I find this article more of PR for Beacon, the beef here is: this is happening and more common among young professionals - buying real estate. I have seen also yuppies in their mid to late 20s as first time car buyers. The new middle class! :cheers:

Young buyer gets mom's approval
Roces Tower at The Beacon
January 12, 2012, 3:32am

MANILA, Philippines — “Mother knows best” is an old saying that helped a young man on a decision to invest on property.

Rafael “Raffy” Hernandez, one of the proud owners of a studio unit at the Roces Tower of The Beacon, did not forget to consult his mother before investing on his current property. More than just a dutiful son, Raffy also knew of his mother’s experience in real property. His mother, Elaine, used to broker real estate assets before venturing into her own business of selling novelty items. Her commissions were invested on several properties which eventually appreciated in value.

Elaine’s eye for worthy investments immediately spotted The Beacon’s potential.

“It’s very promising. It’s so affordable and it has a good location considering the price,” she told her son.

The Beacon is a resort-inspired high-rise residential community and the maiden project of Geo Estate Development Corp. A status symbol in itself, its enviable address gives residents with considerable advantage as it is located in a bustling section of Makati. Its proximity to the Makati Central Business District, leisure and recreation hubs complements the on-the-go lifestyle of its market which is an interesting mix of small families, newly-married couples and ambitious young professionals. Just like Raffy.

At a relatively young age of 26, Raffy has already snapped up his first property and fully paid, at that. That’s why he is his mother’s pride.

http://www.mb.com.ph/node/347797/young-buyer-get

Ady001

January 29th, 2012, 10:25 AM

^^ I'm almost hitting his age but because I'm partly earning for my family I'm not following him.

todjikid

January 29th, 2012, 10:31 PM

At a relatively young age of 26, Raffy has already snapped up his first property and fully paid, at that. That’s why he is his mother’s pride.

http://www.mb.com.ph/node/347797/young-buyer-get

Sheesh he beat me by 3 years! kidding.

Happy for the kid. pwedeng pwede na magpakasal.

3cr

January 30th, 2012, 12:42 AM

A 2011 Philippine Real Estate Industry Perspective
By Marianne T. Escanilla
Business Mirror
Sunday, 29 January 2012
http://www.businessmirror.com.ph/home/properties/22551-a-2011-philippine-real-estate-industry-perspective

2011 was a landmark year for the Philippine property industry across all its sectors—and even proved stronger than the preceding one.

In a recent report by the BusinessMirror, a marked confidence seemed to have returned to the local real-estate industry at the start of the past year as foreign investments and improved infrastructures started to strengthen real growth in rental rates and yields.

The “landscape” has been in the state of a hectic swirl in the past 12 months as extensive construction is transforming the Philippine capital into a growing world-class metropolis.

Outlying provinces and major cities such as Laguna, Batangas and Cavite were likewise developed into vibrant economic growth areas that complemented the center of activity that is Metro Manila.

In the first quarter of 2011, the industry was still reeling from the effects of the 1997 Asian financial crisis that brought the real-estate sector into a long ennui. After four years down in value, the current property boom indicated that the industry had awakened from its slumber and was on a steady climb.

In fact, CB Richard Ellis (CBRE) Philippines Chairaman and Chief Executive Officer Rick Santos said that there will be a continued show of confidence in 2012 in all sectors of the property industry. According to him, the strength the field had shown in the past year was built from 2010 and will also be significant coming into the present year.

According to Colliers International’s first-quarter report on the real-estate market, the Philippine government was optimistic that the economy will achieve a growth of 7 percent to 8 percent by the end of the year. Inflation had also started to accelerate, in March 2011 at 4.3 percent, a nine-month high.

In their follow-up report for the third quarter of the year, Colliers International claimed that the economy has already achieved then an increase of 3.4 percent. A major contributor to the growth was consumer spending which increased by 9.9 percent, although capital formation through construction dropped by 4.9 percent.

In addition, Business Monitor International stated in their property sector quarterly report that land values had also increased last year, but in a slower rise compare to the last quarter of 2010. With the current planned developments in the traditional business districts, land values were expected to grow at an average of 3 percent to 5 percent in 2011.

Despite difficulty sustaining economic momentum and with export demand from major developed trading partners softening, the Philippine real-estate sector had set for generally buoyant short-term expansion. High take-up rates kept pace with supply in the office segment, maintaining healthy rental growth.

The ever-expanding retail sector has made a competitive property market, of particular note the competitive rental rates south of Manila such as in Cebu. Thanks to the many special economic zones and foreign manufactures looking for lower-cost operating environments, the promise in the industrial real-estate market was encouraging.

Commercial/Office Market Overview

Despite issues with oversupply in several areas, office space rental take-up was expected to increase by about 10 percent in 2011. As a result, conditions are positive in all commercial sectors, such as office, retail and hotel as well as in residential property.

In the KMC MAG Group third-quarter market report in the same year, the economy continuously gained strength from the start until the end. Given the momentum, Metro Manila’s commercial real-estate market also continues to accelerate.

Last year’s performance was also largely led by the rapid takeoff of the business-processing outsourcing (BPO) sector. This—combined with an overall positive outlook of stakeholders toward the current administration—helped increase the demand for major investment properties.

Increased political stability also promoted investor confidence in the Philippines. Foreign direct investment (FDI) continues to flow as companies discover attractive investment options for the Philippines. The commercial real-estate market (particularly Philippine Economic Zone Authority or PEZA-accredited buildings) has seen increased demand in response to this.

Behavior of investment sales activity remained modest with rates per square meters at the range of P130,000 for Bonifacio Global City, P95,000 for the Makati Central Business District (CBD) and P80,000 for Ortigas.

The same promising outlook for the commercial/office sector of the Philippine real-estate industry, as stated, was driven by the upsurge in the number of BPOs which set up their headquarters in the country. The employment and income boom generated by these companies, in turn, fuel a consumer boom that has resulted in the take-up of more commercial spaces.

Residential Market Overview

The Philippines’s major real-estate developers led by Ayala Land, Vista Land, Robinsons Land Corp., Century Properties, Megaworld Corp. and Rockwell Land have been actively launching residential projects. Pre-selling entire towers in advance of construction is common.

The market is divided between owner-occupants and investors hoping to turn a profit; however, majority of the investment is driven by the secondary market: potential tenants searching for units available for lease, including short-term rentals to accommodate tourists.

Also, the demand for condominiums is expected to gain strength as the number of companies establishing offices in the CBD and their employees steadily gaining numbers. With the increased requirements of high-rise, mid-rise and low-rise estates, Phinma Properties, DMCI Homes, New San Jose Builders and SM Development Corp. were deemed to be the major players in this sector. They have established a niche in this market segments together with some more key players such as Camella Condo Homes of Vista Land and Amaia of Ayala Land.

CBRE’s Santos said that the affordable condominium market is one segment that changed the landscape of housing development because it has attracted a lot of buyers from the middle class and OFW households.

Designed for the predominantly “C” socioeconomic class, the reasonably priced condominium is an ideal investment for young professionals working in the business districts of Metro Manila as well as start-up families or first-time buyers. This scenario is also being seen emerging in key urban centers such as Metro Cebu and Metro Davao.

2012 Outlook

The residential and commercial/office and segments of the Philippine real-estate industry have shown remarkable year-on-year growth in terms of the number of development projects, as well as sales. These developments indicate that it is now on a growth trajectory expected to be sustained in the short to medium term.

The Philippines is thus expected to emerge from this cycle as a country with bustling metropolitan areas with ultra-modern skylines and picturesque housing estates. The landscape, in turn, will make the country a better and more conducive place to reside and do business in and thus will lay the foundations for future industry growth.

The promising outlook for the residential sector of the local real-estate industry is fuelled by rising incomes due to the steady growth in the economy for the past several years, as well as massive interest among overseas Filipinos wanting to establish permanent or temporary residence in the country of their birth or ancestry. The continuous influx of expatriates in the country likewise contributes to the demand for such residential facilities.

Going into 2012, Santos said the trend to watch is the things that will happen in European economy and whether they will be forced to outsource to cut cost. “Large financial companies will be under increased pressure to save money and will thus outsource their support functions here,” he said.

He said there will also be a trend toward maintaining satisfactory property management of buildings to ensure the loyalty of tenants.

In 2012, Asuncion said he sees new property developments in secondary areas will take longer to sell or lease inventory relative to those situated in prime locations. “This will cause the total industry statistics such as vacancies and lease rates to be challenged,” he said.

Ady001

January 30th, 2012, 01:42 AM

Sheesh he beat me by 3 years! kidding.

Happy for the kid. pwedeng pwede na magpakasal.

Oh well, some people may be luckier than the others :lol:

Ako, bahay lang na medyo malapit2x sa CBD, disenteng trabaho, the better.

ralfy

January 30th, 2012, 06:59 AM

Keep in mind that PH is partly shielded from the global crisis by China and significant amounts of "hot" money entering the system. But both are now being threatened. Even China is experiencing real estate problems:

"China's Property Malaise Ripples Wider"

http://online.wsj.com/article/SB10001424052970204331304577140274059333142.html

Finally, don't forget to post only the title, the link of the article, and an excerpt:

http://www.skyscrapercity.com/announcement.php?f=586&a=802

In fact, try to avoid giving an excerpt, as some publishers don't support that.

boypad

January 30th, 2012, 03:53 PM

Megaworld securities down amid glut in condo market :ohno:

30-Jan-12, 7:39 PM | Karen Martinez, InterAksyon.com

MANILA, Philippines -- Megaworld Corp. shares and warrants closed lower on Monday, as one of its executives appeared before the Senate impeachment court to shed light on Supreme Court Chief Justice Renato Corona's condominium purchases.

Megaworld shares fell to P1.70 apiece on Monday from the previous day's P1.72. The company's warrants1 fell 7.5 percent to 74 centavos from 80 centavos, while its warrants2 dropped 6.6 percent to 85 centavos from 91 centavos.

But analysts said the decline in Megaworld's securities stemmed from concerns over an oversupply in the condominium market.

"The outlook for the year is that there is supply pressure in the condo market so we have seen some selling considering Megaworld is one of the leaders in the condo market," said Freya Natividad, investment analyst at 2TradeAsia.com.

Joseph Roxas, president of Eagle Equities Inc., said the outlook for the property sector remains favorable given the low interest rate environment, but there may be an "overbuild" situation in Metro Manila.

"When you look at Metro Manila, there may be too much supply. If you look at overall, I don't think so. If you include the provinces, they are underserved," said Roxas.

http://www.interaksyon.com/article/23248/megaworld-securities-down-amid-glut-in-condo-market

boypad

January 30th, 2012, 03:56 PM

So my hunch is really right there is now a market indicator which tell us that the supply for Condo market in Metro Manila had already reach a saturation point. Too many inventory :doh:

Ady001

January 31st, 2012, 03:18 AM

^^ I am just waiting for the bubble to burst. Until then, ipon muna :D

BTW, while China imposes a 20% downpayment in some real estate purchases, what is the minimum for the Philippines?

3cr

January 31st, 2012, 05:04 AM

Good it was finally explained that it's indeed not normal business practice to give out 40% discount... but it was done in this case not as a favor for Corona but due to force majeure. This is what I was looking for, a clear explanation as to how the rather large discount actually came about. Sufficient na itong explanation ng Megaworld that it no longer needs to be pursued any further...

Developer explains CJ condo discount
By Butch Fernandez / Reporter
Business Mirror
January 2012 21:38

THE defense lawyers of Chief Justice Renato Corona debunked allegations linking the discounted sale by Megaworld to the Coronas of a penthouse unit at the Bellagio Tower in Taguig with a number of cases at the Supreme Court involving the developer’s other property.

Appearing before the Impeachment Court on Tuesday, Megaworld Senior Vice President for Marketing Noli Hernandez also testified, under questioning by Senator-Judge Alan Cayetano, that Megaworld lost two cases involving P47 million in the Supreme Court when Corona was already in the SC.

Hernandez said there were several reasons for the P10-million discount to Corona. He said the condominium unit, then priced at P78,000 to P80,000 per square meter was damaged by a typhoon before it was sold to Corona in 2008.

“The original price was P24 million but in 2008 the situation drastically changed for the realty market environment,” he said, citing the Lehman Brothers debacle. “Unfortunately, there was also a typhoon and the unit sustained water damage and we decided its going to cost us more if we had it redone and opted to sell it at a discount instead.”

The prosecution earlier said the Bellagio property, which Corona had acquired in 2008, was not reported in his 2009 Statement of Assets, Liabilities and Net worth (SALN).

Asked by Senate President Juan Ponce Enrile if it was common for Megaworld to give such discounts, Hernandez replied: “No, sir. The discount was not a favor but due to force majeure.

Hernandez said the same discount, ranging from 15 percent to 20 percent, would have been given to any buyer other than Corona because they computed the cost of repairs and “decided it would be wiser to just sell the damaged unit at a discounted price.”

In a separate statement, defense panel spokesman Mon Esguerra disputed claims that Corona allegedly favored Megaworld in an SC decision. “The timing of the decision and the discount do not add up,” he said.

Esguerra also said that while the prosecution would have wanted to make it appear that the large discount given by Megaworld Properties and Holdings Inc. to Corona for his purchase of the Bellagio unit was a “favor,” the facts do not add up.

He said court records showed Megaworld Properties and Holdings Inc. v. Cobarde was written by then-Associate Justice Corona and was promulgated on March 31, 2004. The decision granted the petition of Megaworld and absolved it from the responsibility of paying broker’s commission in a compromise agreement. In the case, the Supreme Court ordered Megaworld to be paid P5,853,793.01 by the opposing parties.

“Connecting the decision to the alleged 40 percent discount amounting to P10 million requires some manipulative thinking,” Esguerra defense said. The circumstances of the sale reveal that the Bellagio condominium unit was bought in October 2008, with the last payment made in October 2009; the decision on the Megaworld case was written in March 2004.

“Esguerra said the decision was also concurred in by two other associate justices: Associate Justice Angelina Sandoval-Gutierrez, now retired, and Associate Justice Conchita Carpio-Morales, the current Ombudsman appointed by President Aquino.

Esguerra also said that in Megaworld Globus Asia Inc. v. Tanseco, a decision written by then Justice Carpio-Morales and promulgated on October 9, 2009, Megaworld lost the case for failure to complete and deliver a condominium unit to its buyer. Megaworld was ordered to pay P21,725,438.02. “The unfavorable ruling to Megaworld was concurred in by then-Justice Corona. Clearly, no favors there,” Esguerra said.

He also cited another case where Corona took part. The case was Megaworld Globus Asia Inc, vs Clerica Holdings Inc. in 2007 where Megaworld was ordered to pay P14,522,955.00, “Again, where was the favor there?” Esguerra asked.

Megaworld, in a statement to the media which listed the cases cited, said, “A cursory examination of the records of the Court’s decisions, which are open to the public, including legal ‘analysts’ and ‘commentators,’ would readily show that Megaworld has never requested nor obtained any favor from anyone in the Court, including the Chief Justice.”

It also said: “For the record, we wish to state that in all our business dealings with Chief Justice Corona, the company has neither solicited nor obtained any favor either from the Chief Justice or from the Court. The records of decided cases involving our company are open to scrutiny since the same form part of public documents. In all these cases, we have followed all judicial processes, availed of all legal remedies and abided by all the final decisions of the Court…. As a company, we shall continue to uphold the highest standard of ethical business practices.”

Officialdmcileasing

February 1st, 2012, 02:21 AM

Social Media + Real Estate Business

It is an undeniable fact that social media has been widely accepted as the key that opens the doors to prospect clients and has establish interaction to a more large scale. Comparing social networking to traditional way of marketing, it can be considered a more effective and efficient way to market product and business. Online businesses have incorporated widgets and toolbars, created fan pages, circles, groups and accounts just to extend there reach to potential customers. Real estate business is one of the industries that have been greatly influenced by social media. The University of Maryland's Smith School of Business conducted a study about the relationship of social networks to businesses and they found out the in the United States of America, technology adoption rate has double comparing it to the past year, from 12 percent to 24 percent respectively. From this study it is noticeable that many businesses have integrated social networks and is no surprise why they have included social marketing as a part their internet marketing strategy. :banana::banana:

Read Entire Article Here! (http://goarticles.com/article/Social-Media-Real-Estate-Business/6018337/) :lol::lol:

InfinitiFX45

February 1st, 2012, 05:04 AM

SMDC launches 'Green' condo in Manila :)

ABS-CBNnews.com | Wednesday | 02/01/2012 | 10:30 AM

MANILA, Philippines - SM Development Corporation (SMDC) is going "green" as it launched its newest condominium project Green Residences in Manila.

Green Residences is located along Taft Avenue, Manila, just a stone's throw away from De La Salle University, College of St. Benilde and St. Scholastica's College.

Construction on the single-tower, 50-storey condominium began late last year. Target completion of the project is expected by the first half of 2016.

SMDC said Green Residences will cater to the demand for first-rate homes for students and their families in the Manila area.

Estimated pre-selling prices for the units range from about P1.5 million to P3.5 million. Unit types are studio suite and one-bedroom, with or without balcony, with sizes ranging from 15 to 35 square meters.

Planned amenities at the condominium include a library with Wi-Fi hotspots, a gym, a game room, function rooms, and a swimming pool. An SM SaveMore branch will open in the ground floor of the building, as well as other shops and restaurants.

SMDC currently has 15 residential projects under its SM Residences brand and two projects under the M Place brand.

Source: http://www.abs-cbnnews.com/business/02/01/12/smdc-launches-green-condo-manila

boypad

February 1st, 2012, 04:54 PM

Smell like a Freddie & Mac scenario local version...

Pag-IBIG sets condonation :ohno:

Malaya - Business Insight
BY IRMA ISIP
Feb. 2, 2012

THE Home Development Mutual (Pag-IBIG) Fund is poised to condone penalties on overdue loans but says it will earn in an ongoing condonation of penalties on membership as well as on housing loan defaults.

Excerpt:

Berberabe said the second condonation covers housing loans on properties not yet foreclosed but where members have defaulted on their payment.

The program would enable the members to restructure their loan and give them up to five years of payment.

Disqualified are those who have been previously disqualified or defaulted and availed of condonation but defaulted again.

Berberabe said blacklisted members can be removed from the list as long as they can present valid justification.

Berberabe said there are around 120,000 delinquent accounts, with a combined book value of P46 billion. :omg:

http://www.malaya.com.ph/02022012/busi3.html

Ady001

February 2nd, 2012, 01:48 AM

^^ Fcuk... non-performing toxic assets... maghihigpit ng sinturon ngayon ang PAG-IBIG... mukhang maraming makukulimbat na foreclosed properties neto.

boypad

February 2nd, 2012, 02:25 AM

RonnieR

February 2nd, 2012, 05:06 AM

Its an indication already there is a sort of excess residential units inventory out there. Most probably reason why its hard to leased a residential condo unit nowadays. I saw in Taguig forum in SSC leasing price is really dropping. Imagine Bellagio I is as low as 20K semi furnished.
http://www.skyscrapercity.com/showpost.php?p=88110856&postcount=2004

Have you notice here also at this forum bunch of real estate broker bannering their property leased for rent. Its a sign of times already that bubble burst might happen very soon. There are even some real estate ads I saw recently that say downpayment of only 5% you can already move-in.

:lol:

Speculations. That 5% to 10% has been there since 2004! Real estate industry is still enjoying a robust demand and healthy figures. Independent research firms, brokers and other credible financial institutions can attest to that. A drop in rental rate and the number of real estate ads for lease or for sales are not indicative factors of a bubble burst!

You even laughed to it. I guess you are not an investor in this sector.

RonnieR

February 2nd, 2012, 05:08 AM

Taft Avenue from Vito Cruz to Pedro Gil Street is now home to several high rise towers. Before, the LRT was frowned upon but the market taste is changing with buyers' preference to easy access to LRT/MRT. :cheers:

SMDC launches 'Green' condo in Manila :)

ABS-CBNnews.com | Wednesday | 02/01/2012 | 10:30 AM

MANILA, Philippines - SM Development Corporation (SMDC) is going "green" as it launched its newest condominium project Green Residences in Manila.

Green Residences is located along Taft Avenue, Manila, just a stone's throw away from De La Salle University, College of St. Benilde and St. Scholastica's College.

Construction on the single-tower, 50-storey condominium began late last year. Target completion of the project is expected by the first half of 2016.

SMDC said Green Residences will cater to the demand for first-rate homes for students and their families in the Manila area.

Estimated pre-selling prices for the units range from about P1.5 million to P3.5 million. Unit types are studio suite and one-bedroom, with or without balcony, with sizes ranging from 15 to 35 square meters.

Planned amenities at the condominium include a library with Wi-Fi hotspots, a gym, a game room, function rooms, and a swimming pool. An SM SaveMore branch will open in the ground floor of the building, as well as other shops and restaurants.

SMDC currently has 15 residential projects under its SM Residences brand and two projects under the M Place brand.

Source: http://www.abs-cbnnews.com/business/02/01/12/smdc-launches-green-condo-manila

boypad

February 2nd, 2012, 07:15 AM

~~~~~~

movingtoPI

February 2nd, 2012, 01:27 PM

todjikid

February 2nd, 2012, 09:53 PM

i think there are cityland condos you can rent in Makati for 15 to 20K. Eastwood is not far, you get better condos for the amound you have and its a thriving community with its own malls, coffee shops, commerial and retail spaces that's also near ortigas. and night life is great. between makati and eastwood libis, id go for libis for your budget.

3cr

February 2nd, 2012, 10:41 PM

There is a 1 bdrm semi-furnished currently posted for rent in the Bellagio thread for only P20K/month. That's really cheap for a 1 bdrm unit in BGC (Bonifacio Global City). Hope this helps.

Here's the details...(looks like parking is not included)

FOR RENT!!!

Bellagio I Condo Unit
15th floor 43sqm

Semi-furnished:

Kitchen with gas range
Range hood and 2 door full size refrigerator
Bathroom fixtures
Curtains in the LV and BR
Built in Aircon

Rental fee of 20k already includes association dues.

Amenities/Facilities
• Landscaped gardens and view deck at podium deck
• Horizon edge swimming pool with in-water pool lounge
• Children’s swimming pool
• Paved sunbathing deck and children’s playground
• Function room, day-care center, game room and gymnasium
• Changing rooms

Contact detail: Ferdie - 09215022680

Txt or Call if interested

Speaking of Bellagio... it's now a tourist attraction!

Bellagio I now a tourist spot
By Ramon Tulfo
Philippine Daily Inquirer
http://newsinfo.inquirer.net/138227/bellagio-i-now-a-tourist-spot

Property developer Megaworld, builder of Bellagio Tower I, has only Chief Justice Renato Corona to thank profusely for making the condominium a tourist spot.

Every day, hundreds of people take pictures of the 38-floor condominium, where Corona lives on the topmost floor, from the playground of Burgos Circle at The Fort, Taguig City.

The condominium has been in the news lately because of Corona.

The value of the real property has gone up considerably.

Ady001

February 3rd, 2012, 03:20 PM

^^ Ayun, they sold the penthouse at a fire sale to Corona.

And now Megaworld's reaping the profits later for this supposed "free publicity."

Now, who's laughing all the way to the bank?

Ady001

February 3rd, 2012, 03:31 PM

not sure where to put this but the mod told me here so ill try it out

i'm a late 20's white guy moving by myself to PI later this year, my main concerns are safety, cheapest cost of living possible (while still being in safe area) and quality reliable internet because im moving to play online poker

after reading up on PI a lot it sounds like makati would probably be the best place, at least initially

is it possible to get a decent (doesnt have to be super nice) furnished 1 bedroom or studio there in the $300-$400 a month range? any recommendations on buildings to check out?

what would be a decent area for me to go if not in makati? ive heard eastwood is pretty nice but a little far from a lot of places

ive also heard that some building make you pay your entire lease up front plus 2 months deposit, and the deposits arent easy to get back, anyone know of buildings that may except something like 6 months up front and 1 month deposit? or buildings where you have had experience getting your deposits back?

ive also been told the internet in clark might be more stable because there are a lot of call centers and the former US influence in the city

i looked on sulit but cant find anything for apartments in that area so i have no clue what the price range would be and if there are even nice places there (im assuming there has to be some)

but could i get a nice place in clark for half or 2/3 the price of what it would cost in makati?

thanks for any answers you guys can give or any other information you feel like sharing ive been reading stuff on the internet about manilla for a couple months now but all the reading in the world cant fully prepare me for the initial culture shock

Question though, is there a reason why you want to move here just to play Online Poker? $300-$400 flat out for a salary will not get you anywhere in Makati/Taguig other than a shoebox for a studio and I highly doubt you can find one. Perhaps a room in Quezon City will snag you one.

For me personally, if you want to live in convenience but still retain some savings, find a good spot somewhere around EDSA (the main thoroughfare in Metro Manila) where most of the vehicles ply. Otherwise, you can find good enough properties in some safe neighborhoods. I live somewhere in Quezon City (near SM North Edsa) which is generally safe and rent is pretty reasonable, plus the internet connection I use is decent (not decent in Western/East Asian sense but still good enough to give you 1 mbps for a month at 1k.)

$300-$400 as a takehome pay every month will not net you anything if you continue living in Makati. I work in Makati and earn in that level but I don't live there because I live in a convenient neighborhood.

(BTW, I'm not assuming you will have $300-$400 as a pay as you might get more than that.)

todjikid

February 3rd, 2012, 09:59 PM

300 to 400 dollars i think is just his rent budget. 15 to 20 thousand pesos can afford a condo in cityland, and Eastwood area. Quezon city rooms for 15 to 20k? that's a tad too expensive.

Ady001

February 4th, 2012, 12:13 AM

300 to 400 dollars i think is just his rent budget. 15 to 20 thousand pesos can afford a condo in cityland, and Eastwood area. Quezon city rooms for 15 to 20k? that's a tad too expensive.

I was referring to his monthly salary if it falls to that.

movingtoPI

February 4th, 2012, 12:52 AM

Ady001

February 4th, 2012, 08:28 AM

^^ As much as possible man, you can ask some of the renters here in this forum. You know, brokers being brokers themselves. I'm not a broker myself (more like broke, honestly) but if you want honest answers you have to air it out.

Honestly really, not much in Makati. 300-400 for a budget replete with some perks isn't going anywhere these days. A rent in the outskirts for 8k will let you go somewhere.

AFAIK there are some one bed apartments somewhere in Makati which is not in the condo amenity kind of thing which is still safe.

Arvor

February 4th, 2012, 09:27 AM

like running hot water

Dude i don't think youd be longing for hot water tho you might actually long just to have water at all lol just kidding, well back in the day my dad's an expat and run some business in the Makati area so in the city we lived in P Burgos street and it was ok, but this was like 20 years ago today that area has sort of become some kind of a Korean town and red light district lol, but you might be able to find something there who knows but lots of foreigners hang around that area so you might be able to talk to some for idea's .

My family also does own houses in Manila in the south Alabang area or Las Pinas city it's kindof leafy full of houses and there is a cbd next door and i think some condo's aswell, in some subdivisions it might be possible to find like small houses for rent at the same prices and in general quite a few condo's in the Las Pinas area which also has it's fair share of malls and whatnot and is relatively safe in my opinion, but then again i can't really say since they never usually let me out without an entourage when im there lol semi kidding .

But seriously i think Las Pinas is an ok place to be if your just interested in playing online it's not as hectic and has enough amenities and whatnot and imo has relatively good value places to rent but i can't say about the quality of internet across this area it's relatively good where were at tho .

And one more thing i can say about Las Pinas is that it's usually not as badly affected by floods during storms compared to other parts of the city ... .

3cr

February 4th, 2012, 10:15 AM

Megaworld reputation intact despite Corona trial, analysts say
By: Tessa R. Salazar
Philippine Daily Inquirer
February 3rd, 2012
http://business.inquirer.net/42979/megaworld-reputation-intact-despite-corona-trial-analysts-say

The ongoing impeachment trial against Chief Justice Renato Corona won’t affect high-end property developer Megaworld’s reputation, according to property analysts when asked by Inquirer Property on the positive and adverse effects of Megaworld’s involvement in the trial.

Megaworld has been in the hot seat the past few days when its officers were subpoenaed to shed light on the 303-square-meter Bellagio unit purchased by Corona in 2009 at a substantially reduced rate. The impeachment trial has made Megaworld and its Bellagio project (located at the 5-hectare Forbes Town Center at Bonifacio Global City near its 50-hectare McKinley Hill township in Taguig City) instant household names.

“As far as I know, I do think the market and buyers will be indifferent as far as Megaworld is concerned about the whole Corona issue. If at all, it is free advertising for Megaworld. The buyers in particular will see past this situation as Megaworld has built a reputation and brand that will carry them through this gracefully,” said veteran property analyst David T. Leechiu, country manager of Jones Lang LaSalle Leechiu.

Enrique Soriano, Ateneo program director for real estate and senior adviser for Wong+Bernstein Business Advisory, also agreed with Leechiu’s observation, citing “perceived indifference among buyers as they know it’s a political activity.”

Soriano added that “Megaworld is a dominant and innovative player and a first tier stock in the exchange. It has already established equity among players. Its being a market leader and a listed company has created goodwill and image to its buyers and stockholders.

“This current political exercise may just be a temporary setback and for as long as Megaworld’s fundamentals remain sound, a differentiated and sustained value proposition and well-defined vision, the company will not be affected,” Soriano said.

Megaworld has earned the distinction of being the country’s largest residential condominium developer on top of being the country’s leading BPO office developer and landlord.

“Negative publicity is still publicity,” said one property research analyst who requested anonymity because he was not authorized by his company to speak on the issue. “I just hope they (the developer) stop stressing that the unit was water damaged or unfinished (semi-bare) because it doesn’t sit well with those who know the market.”

Megaworld management, meanwhile, has directed its communications office to refrain from answering questions in connection with its involvement in the impeachment trial in deference to the Senate proceedings.

Ady001

February 4th, 2012, 10:56 AM

Dude i don't think youd be longing for hot water tho you might actually long just to have water at all lol just kidding, well back in the day my dad's an expat and run some business in the Makati area so in the city we lived in P Burgos street and it was ok, but this was like 20 years ago today that area has sort of become some kind of a Korean town and red light district lol, but you might be able to find something there who knows but lots of foreigners hang around that area so you might be able to talk to some for idea's .

My family also does own houses in Manila in the south Alabang area or Las Pinas city it's kindof leafy full of houses and there is a cbd next door and i think some condo's aswell, in some subdivisions it might be possible to find like small houses for rent at the same prices and in general quite a few condo's in the Las Pinas area which also has it's fair share of malls and whatnot and is relatively safe in my opinion, but then again i can't really say since they never usually let me out without an entourage when im there lol semi kidding .

But seriously i think Las Pinas is an ok place to be if your just interested in playing online it's not as hectic and has enough amenities and whatnot and imo has relatively good value places to rent but i can't say about the quality of internet across this area it's relatively good where were at tho .

And one more thing i can say about Las Pinas is that it's usually not as badly affected by floods during storms compared to other parts of the city ... .

All I could say from @MovingPH is that you have to be street smart.

And yes, don't expect running hot water; expect that you boil it first in a kettle, or perhaps do something illicit like crush kittens with a foot, then you'll be in hot water.

@Arvor, Las Pinas is good, but the traffic isn't. And man, that Uniwide is such an eyesore!

3cr

February 4th, 2012, 09:07 PM

Good the BSP is taking a pro-active approach in monitoring the currently hot realestate/property market...too much projects being put out there imho which can cause an over supply in the market and much worse bring about the much dreaded "bubble". Dapat talaga subaybayan yan ng mabuti or we'll all be in big trouble.

Property market monitored
by Roderick T. dela Cruz
Manila Standard
http://www.manilastandardtoday.com/insideBusiness.htm?f=/2012/february/6/business1.isx&d=2012/february/6

The Bangko Sentral has not detected signs of asset price bubbles, but is closely watching the housing market which could become a source of concern.

“There have been limited signs of asset price bubbles thus far, though some segments of the residential property sector could be at risk of an oversupply,” the Bangko Sentral said in its latest quarterly inflation report.

Asset price bubbles refer to the excessive increase and sudden drop in prices of assets such as real estate properties, equities and commodities because of excess demand from investors and consumers who are attracted by a low interest rate regime in a particular economy.

Some economists have expressed concern over the the robust lending growth of more than 20 percent last year, led by strong demand for new housing developments.

The Bangko Sentral noted that residential vacancy rates inched up to 10.4 percent in the fourth quarter of 2011 compared to the previous quarters.

“Vacancy rates in the residential buildings rose further, driven by the higher vacancy rates for Grades A and B residential buildings,” it said.

The Bangko Sentral, citing a report from property research firm Colliers, said the increase in vacancy rates in the Makati commercial business district was expected to continue due to potential rise in supply over the next 12 months.

The high-rise residential segment also continued to post strong growth in the number of licenses to sell issued by the Housing and Land Use Regulatory Board because of the newly approved high-rise projects in the previous quarters.

“Such factors point to a risk of an oversupply in the residential property market going forward,” although Bangko Sentral Deputy Governor Diwa Guinigundo assured that macroprudential measures were in place to avoid a possible housing bubble.

Macro prudential tools are administrative measures such as reduction of loan to property value ratio or exposure of banks portfolio to the property sector to handle pockets of asset bubbles.

Existing macro prudential measures limit banks’ loans to the real estate sector to a maximum of 20 percent.

“The Bangko Sentral is monitoring the loan portfolio of the banks to make sure that the ceiling is in force. The loan to value will also provide some kind of a break on how much of the funds can be generated,” said Guinigundo.

Banks are also required to extend loans not exceeding 80 percent of the value of real estate properties or vehicles.

____________________________________

Luxury property demand seen to grow
Business World
http://www.bworldonline.com/content.php?section=Property&title=Luxury-property-demand-seen-to-grow&id=46012

LUXURY PROPERTY developers are seen to enjoy brisk sales in the next few years as buyers in this segment have yet to be fully satiated in the Philippines, an emerging economy, industry officials said.

“The Philippines is still a very cheap tourist destination compared to the rest of Asia. I think there is a market for this luxury types because we haven’t seen this product in quite some time,” David T. Leechiu, country head of real estate services firm Jones Lang LaSalle Leechiu, said in a telephone interview yesterday.

Property consultancy Colliers International Philippines had similarly pointed to bright prospects.

“Landowners are confident of a positive turnout in the luxury residential market over the long-term,” Colliers International Philippines said.

Some developers, such as the firm behind 30-storey Raffles Makati residential and hotel complex, have taken notice.

“From looking at our recent history, Manila and the Philippines have been extremely resilient throughout the ups and downs everywhere else and have maintained a pretty steady pace in terms of demand,” Randy Zupanski, managing director of the Raffles Makati, told BusinessWorld in an interview last Monday.

“I see the potential for the luxury hotel and residential market to be very strong, and the next couple of years look very good,” he added.

Saudi Arabia-based Kingdom Hotel Investments and listed developer Ayala Land, Inc. expect complete the development on the corner of Arnaiz and Makati Avenues by the second half, touting it as the first of its kind here.

“It is becoming common throughout other parts of the world, where people choose to live in condominiums compared to houses, and even more, a condominium within a hotel, giving access to hotel services and generally benefitting from the A-plus location that the hotel brings,” Mr. Zupanski said.

“I would expect this mixed-use type of project will eventually become popular here among upscale business travelers and tourists, too,” Mr. Zupanski said.

Mr. Leechiu added: “We’ve been getting good press from the international community, and there is little competition yet.”

Arvor

February 4th, 2012, 10:56 PM

@Arvor, Las Pinas is good, but the traffic isn't. And man, that Uniwide is such an eyesore!

Lol well there's traffic everywhere ... .

Ady001

February 4th, 2012, 11:16 PM

^^ I think the road where SM Southmall is the worst for me.

Ady001

February 6th, 2012, 01:02 AM

Before makauna na naman si newsman...

SPECIAL REPORT: End to property boom looms as glut seen in metro

MANILA, Philippines - Mel, a government employee, received a text message, inviting him to a treat at one of Metro Manila’s most popular spas while listening to the sales pitch of a top property developer's agent for high-end projects.

“Is this for real? They are going to treat me to a spa so I would just listen to them sell me their condo? I could not even afford their monthly amortization,” he told Interaksyon.com

This is but one of the many tactics that real estate developers now employ so they can dispose of their inventory, especially in a market that, some analysts say, is already swamped with similar condominium homes.

Asset bubble

"There are limited signs of an asset price bubble thus far, although some segments of the residential property sector could be at risk of an oversupply," the Bangko Sentral ng Pilipinas (BSP) said in its latest quarterly inflation report.

It noted that residential vacancy rates during the fourth quarter of last year climbed from the previous two quarters, driven by the higher vacancy rates for Grades A and B residential buildings. Colliers International said the increase in vacancy rates in Makati Central Business District is expected to continue because of the growth in supply for the next 12 months.

The BSP cut its key interest rates by 25 basis points last month and market players are expecting it would ease its monetary policy further by another 25 basis points to help prop up a slowing economy.

This could spell new record highs for the stock market, which has been climbing continuously at the beginning of the year. Lower interest rates could also boost real estate buying by end-users and investors - and fuel an asset bubble.

But BSP Deputy Governor Diwa Guinigundo said the property bubble seen in the high-end market does not constitute an asset bubble.

"We have some space for the other segments of the industry. We don't have to, therefore, consider putting up capital controls. Our existing monetary policy and macroprudential tools are sufficient so far," he said.

Despite the lack of capital controls or "speed bumps", Guinigundo said the BSP, like any other central bank in Asia, is keeping a close watch for any signs of bubbles in the equities or property markets, and would be proactive before any froth could start tickling the nose of monetary authorities.

It would be disastrous if they act on it only by the time it is already right in front of them, he said.

http://www.interaksyon.com/article/23765/special-report--end-to-property-boom-looms-as-glut-seen-in-metro

Ady001

February 6th, 2012, 01:09 AM

Good news? Really...

Pag-IBIG eyes hike in loanable amount
By Iris C. Gonzales (The Philippine Star)

MANILA, Philippines - State-run Pag-IBIG Fund is planning to increase the maximum loanable amount for members as part of efforts to meet borrowers’ demands for housing loans.

In a press briefing on Friday, Pag-IBIG vice-president Robert Cosico said the housing agency wants to double the amount to P6 million from the current P3 million.

“There will be changes in the maximum amount that could be borrowed. We’re planning to double it to P6 million and further rationalize the interest rates of Pag-IBIG Fund,” Cosico said.

The idea is for Pag-IBIG Fund’s interest rates on its housing loans to shift to a market- and risk-based system from the current fixed-rate system.

In a separate interview, Cosico said the rationale behind the shift to market-based interest rates is to take advantage of the current low interest rate environment.

If and when interest rates go up, however, Cosico said the housing agency would make sure that the rates slapped on its loans would still be lower than market rates.

Pag-IBIG hopes to implement the increase in the maximum amount for loans this year.

“This is part of our reforms,” Cosico said.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=774684

mikael21

February 6th, 2012, 01:58 AM

Demand for loans still strong - BSP

MANILA, Philippines - Strong demand for loans from enterprises and households has been sustained amid the low interest rate regime despite the economic slowdown last year, brought about by the weak global trade as well as the cautious spending by the Aquino administration, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend.

Dennis Lapid of the BSP’s Department of Economic Research (DER) told reporters that the Q3 2011 Senior Bank Loan Officers’ Survey pointed to a sustained increase in demand for loans from enterprises except for micro-enterprises and households, except auto loans.

Lapid said the net increase in demand for loans for business was attributed by banks to increased customers’ inventory and accounts receivable financing needs as well as the relatively low interest rates. On the other hand, he pointed out that the increase in demand for household loans could be traced to the attractive terms of financing offered by banks, the relatively low interest rates, as well as higher housing investment of households.

The survey showed that overall change in demand for loans by enterprises increased to 33.3 percent in the fourth quarter last year from 21.4 percent in the third quarter as demand from top corporations jumped to 44.4 percent from 28.6 percent while that of small and medium enterprises increased to 33.3 percent from 30 percent.

Read more here... (http://ph.news.yahoo.com/demand-loans-still-strong-bsp-160537460.html;_ylt=AlIP9O88AbOmCvN.1hp8tjHmV8d_;_ylu=X3oDMTQwNjB2ZXBtBG1pdANUb3BTdG9yeSBQaGlsaXBwaW5lc1NGBHBrZwM5MDZlMmU0MC0xZGJkLTM2ZmYtOGFiNS03NDUzNDVjNTA0NjcEcG9zAzIEc2VjA3RvcF9zdG9yeQR2ZXIDM2UxZDNkZDAtNTAxMy0xMWUxLTliMzctNzg1NzQ1OWU0YmYz;_ylg=X3oDMTF2M3NpaDUyBGludGwDcGgEbGFuZwNlbi1waARwc3RhaWQDBHBzdGNhdANwaGlsaXBwaW5lcwRwdANzZWN0aW9ucwR0ZXN0Aw--;_ylv=3)

RonnieR

February 6th, 2012, 03:52 AM

Higher VAT-Exemption Thresholds Open New Opportunities For Real Estate:)
Creba Speaks
By CHARLIE A.V. GORAYEB
February 2, 2012, 2:59am

MANILA, Philippines — Starting Jan. 1 this year, real estate buyers can already enjoy added relief from value-added taxes (VAT) with the passage of BIR Revenue Regulation No. 16-2011, which effectively increases the threshold amounts for VAT-exempt transactions, as follows: (1) From P1.5 million to P1,915,500 for residential lots; and (2) From P2.5 million to P3,199,200 for house and lot packages or other residential dwellings.

Adjacent lots, even if covered by separate titles and tax declarations, can be counted together when sold to a singular buyer. This means that multiple lots sold or disposed in favor of one buyer for the purpose of utilizing them as one residential lot will be VAT-exempt for as long as the aggregate value of the sale does not exceed the P1,919,500 limit.

http://mb.com.ph/articles/350063/higher-vatexemption-thresholds-open-new-opportunities-for-real-estate

RonnieR

February 6th, 2012, 04:03 AM

ya 300 to 400 is just what i was hoping to spend, im moving over with way less money than a sane person would try this with and who knows how tough the online games are going to be now with all the american fish gone

ive found some studios that say they are in makati on sulit for 300ish furnished but i asked somewhere else and they said the buildings were old (citadell inn and prime tower)

again im not looking for a really nice place, my current apt certainly isnt and my furniture consists of a mattress on the floor, a comp chair, and 1 recliner

my main concerns are safe area, good internet, building with reliable power/generator plus just normal every day stuff like running hot water and not getting ripped off for my deposit

Citadell in Makati would be an ideal place for you. The internet connection is stable in almost all areas in the capital region. For a newcomer, I advise you stay in Makati since it has all the amenities you would want to. It is safe and Citadell is right on the spot of entertainment hub in the city. It is also close to malls, hotels, MRT if you wish to travel to other areas, bars, clubs, etc.

movingtoPI

February 6th, 2012, 08:52 AM

RonnieR

February 6th, 2012, 10:40 AM

hmmmm, on a different forum the exact quote i got from someone is that "citadell inn is an old run down building in a not so desirable area of makati"

i obv have no clue but you disagree?

all i know is that the price is right for me :)

Citadell Inn was built in 1993. The area is the "red light district" of Makati, which is the country's financial district. Expect those bars when you stepped out of the hotel door. :) The location, Burgos St. and its surroundings, is also home to other good hotels, namely Makati Palace Hotel, St., Giles Hotel (newest Malaysian owned hotel), lots of restaurants from 24 hour McDo and Jollibee (local version of McDo), Pizza Hut, Wendys, Chinese, Mediterranean and Filipinos. There is also a mall named A. Venue, walking distance from Citadell. If you walk farther, there is the Buddha Bar and you would see residential skyscrapers in the city.

I suggest you stay there for a short period of time. If you are familiar with the place after one week, you can easily find other inns/hotels/apartments nearby that would suit your taste.

todjikid

February 6th, 2012, 09:10 PM

buy there are nice places there like heckle and jeckle.

Officialdmcileasing

February 7th, 2012, 04:09 AM

How can SEO Improve Online Real Estate

The internet contains all the information we need. It has been one of the major sources of information all over the world. Many online marketers engage on using the internet to advertise and introduce a product or service. In the real estate industry, the internet plays a vital role. The National Association of Realtors says that in 2010, 94 percent of people who wants to buy a house and a property used the internet to search listings and properties. They also pointed out the 1/3 of the home buyers were able to own or rent a house using the World Wide Web.
With this reason, many real estate companies and home builders created their website just to expand their reach to clients. Yes, the internet is now the core component of the overall marketing strategies of major and large real estate companies. Since many are already engage with online marketing we expect a big competition. It is now a lot more difficult to rank higher on search engines. Does ranking on the first page of search engines important? Surely yes, since majority of the traffic a website can get comes from search engines, so ranking on the top and on the first page of search engines gives a lot of possibility to increase traffic and profit.

Read Entire Article Here! (http://goarticles.com/article/How-can-SEO-Improve-Online-Real-Estate/6029072/)

movingtoPI

February 7th, 2012, 09:46 AM

thanks for the answer ronnie, sounds like ill check it out, his definition of an old worn down building might be way overstating it, and 1993 isnt old anyways

not sure i like the temptation of being right in the middle of makatis red light district as ive heard that the barfines are quite high in that area :)

so is that like a hotel and apt building in one then?

Arvor

February 7th, 2012, 10:20 AM

http://www.buzzen.com/files/pictures/img_169513_1_145.jpg

http://www.buzzen.com/files/pictures/img_169513_1_146.jpg

Above pics i took last time i went to P.Burgos to check out our old street lol imagine my surprise to see how it has become ... .

Well before the area became a "red light district" i did partially live there as a kid in the 80's during weekends i usually stayed in our homes in Las Pinas for school days, my dad owned a restaurant called the "Danish connection" where mainly expats would come and have a beer or a bite to eat and we had an appartment on top of the restaurant and back then it wasn't as overgrown with all the stuff you see in the pics and definetely no Korean stuff as it seems to be now, the Virra building in the picture already existed way back then in the 80's and it's still there .

My memory of the area was that it was ok might still be so despite the new additions, the street felt kindof cozy but you definetely are aware that it's sort of a red light district, the jungle of overhead cables is definetely so Phillippines the street would look nicer if they were buried under the pavement .

Ady001

February 7th, 2012, 10:42 AM

^^ I'll definitely go to that resto to sample some eats Arvor. :D

Arvor

February 7th, 2012, 10:55 AM

Lol my dad sold Danish connection in the late 80's to a friend but it continued to exist until a few years ago at least from what ive heard of it and i think it had by then moved to another street nearby, ive no idea if it still exists today which is why i went there last time to find out but didn't see it anywhere .

The menu was pretty simple tho lol mainly northern European styled dishes steaks, cold cuts, salads and sandwiches and beer ... .

Ive found some mention of it tho on the internet :

http://www.gpsmycity.com/tours/makati-nightlife-walking-tour-in-manila-3499.html

http://answers.yahoo.com/question/index?qid=20070830062543AA630aJ
Danish Connection : Located on Kalayan Avenue, this to be honest is more of a restaurant than a bar. It is open from 9 am to 1 am but quietens down after dinner around 10pm. The bar is a Viking style bar, which even has a small Viking boat suspended from the ceiling which is used the bars glass holder. The food is good, and the bar itself gets busy with expat residents that are living in the area just after work around 7pm. If you are in the area it is worth going to if only to see Julie, one of the beautiful waitresses !

According to this it's on Kalayaan but it was dated as being 5 years ago ... .

InfinitiFX45

February 7th, 2012, 05:57 PM

Century To Develop Batangas Property :)

by JAMES A. LOYOLA | Manila Bulletin | Tuesday | February 7, 2012 | 11:36pm

MANILA, Philippines — Century Properties Group Inc. has entered into a joint venture agreement with three landowners to develop 142 hectares of prime land in Batulao, Batangas into a leisure and resort community estate.

In a disclosure to the Philippine Stock Exchange, Century compliance officer Neko Lyree Uson-Cruz said the leisure and resort community estate project is for both the local and foreign markets.

Cruz said the agreement was signed between wholly-owned subsidiary Century Communities Corporation and landowners Group Developers Inc., Caylaway Development Corporation and Batulao Bio-loop Farms Inc.

Century is raising its planned capital expenditures for 2012 by 46-66 percent to P7.3 billion to P8.3 billion from about P5 billion in 2011 on the back of strong sales recorded last year.

Century chief financial officer Jose Carlo R. Antonio said Century is planning to launch a 4.4-hectare project along Commonwealth Avenue in Quezon City to offer approximately 2,000 affordable housing units this year.

The firm is also constructing a lifestyle center that is expected to include a variety of retail offerings to complement its existing developments in Century City.

Century said its pre-sales data indicated that it pre-sold P18.4 billion for the full year 2011, equivalent to a 129 percent growth compared to the P8.0 billion in pre-sales for the full year 2010.

On a unit basis, Century pre-sold 5,367 units for the full year 2011, as compared to 2,325 units for the full year 2010.

Century believes it was able to attain this sales growth in large part due to its efforts to sell to Filipinos living overseas, as well as foreign nationals. In 2011, approximately 67 percent (in terms of value) of Century’s pre-sales came from international markets.

Source: http://www.mb.com.ph/articles/350656/century-to-develop-batangas-property

3cr

February 7th, 2012, 11:17 PM

Building projects down 12%
Business Mirror
February 7, 2012
http://www.businessmirror.com.ph/home/top-news/22986-government-inflation-retreated-further-in-jan-

Uncertainties in the global economy caused sharp drops in “building construction starts” in the country, particularly for residential and office spaces, and there are indications that this will not be a short-term slump, construction industry information provider BCI Asia Philippines said.

BCI Asia Philippines reported that in 2011, the total value of building projects that started construction fell to P575 billion from P657 billion in 2010. The figures represent the total cost of the construction as estimated by the developer or architect for the whole construction period.

“Very few projects were canceled last year, though quite a lot were deferred due to the severe typhoon season as well as uncertainty in global markets. That uncertainty didn’t just affect the projects already at construction but also those earlier in the ‘pipeline’ of upcoming projects.

What we’re seeing now in construction starts is the effect of a drop in large projects in the design stages six months ago. Unfortunately we’re still not seeing many new large-scale projects at design stage and that means this is not just a short-term slump,” Ian Paolo Reyes, chief data analyst of BCI Asia Philippines, told the BusinessMirror.

Building construction starts is defined as the start of “main works,” or work done after site clearing, excavation, and when they start pouring the concrete and laying the bricks.

By sectors, the drops in building construction starts were notable in industrial, residential, community, and office at 66.71 percent, 19.52 percent, 18.52 percent and 10.4 percent, respectively.

Reyes said the most significant contributors to the sharp decline, due to their larger share of the market, were the residential and office segments.

He said the residential-sector drops were probably due to the fact that a lot of very big projects were started in the last few years, and while they are still being built, there were less new projects ready to start.

“Office starts are highly sensitive to world markets and developers need to be confident that they will fill the rental spaces quickly and reliably. If not, then their investment will not pay off and is likely to be a huge financial burden, so an uncertain global market means a slow-down in projects starts,” Reyes added.

Residential construction projects were valued at P306.17 billion in 2011, down sharply from P416 billion in 2010.

The office segment, on the other hand, fell from P62.08 billion in 2010 to P50.629 in 2011.

BCI Asia based its reports from the National Statistics Coordination Board data and from its own research.

Reyes said building construction starts actually had a strong first half last year. However, construction starts started to drop sharply in first the quarter of the year, falling by 80 percent compared to the second quarter.

For 2012, Reyes said another quiet year could be in the offing.

“We have data on expected starts, but due to the nature of the construction industry in the Philippines it can be very difficult to forecast beyond three months. What we can say is that January starts were similar to December. There are still projects out there—still plenty of projects starting—just fewer large projects. If none comes through by typhoon season, then 2012 will be a very quiet year, but it’s too difficult to say what will happen in Q2,” Reyes said.

Officialdmcileasing

February 8th, 2012, 04:11 AM

^^ With the world economic collapsed this is not surprising..

3cr

February 8th, 2012, 09:46 PM

Wow big big news indeed! SM is oh so loaded! :cheers:

Sy acquiring Ortigas group for $1B
‘Game-changing’ move for SM
By: Doris C. Dumlao
Philippine Daily Inquirer
1:02 am | Thursday, February 9th, 2012

HENRY SY SR.: Game-changing move
Tycoon Henry Sy Sr. is finalizing a deal to acquire a majority stake in the privately held Ortigas property group in a transaction worth around $1 billion, seen as a potential “game-changing” move that will expand the SM group’s landbank in the metropolis and give it control of the 16-hectare Greenhills shopping complex.
Inquirer sources confirmed that the SM group was close to a deal to buy into the Ortigases’ property holding unit OCLP Holdings after a crucial bloc, which included British banking giant HSBC and some family members, consented to the deal.
The sources said that HSBC, the single biggest stockholder of OCLP with a stake of 34 percent in the property unit, has already signed some documents approving the sale. On the other hand, there was likewise a critical mass of Ortigas family members who had agreed to the transaction, aiming to unlock more values from their vast landholding.
The target was to finalize all documentation by March, at the latest, one source said.

Jose Mari Lacson, head of research at local stockbrokerage Campos Lanuza & Co., said this was a potential “game-changer” move that could propel the SM group’s SM Land or SM Development Corp. to the size of Ayala Land Inc.
“It allows them to secure a large landbank in a major central business district. Ayala can now pick on somebody its own size,” Lacson said.
The Ortigas group has a vast urban landbank spanning Mandaluyong, San Juan and Quezon City, the crown jewel of which is Greenhills shopping center.
It is not yet known which SM unit or units will take part in the transaction but SM Prime is seen benefiting significantly given the Greenhills landbank.
“Only SMIC can muster that money without straining its balance sheet too much,” Lacson said. He added that the group could also choose to use SM Land but this unit would have to raise cash, although a share-swap was also seen as a possibility.
Just last week, SM Investments raised $250 million from the sale of five-year bonds convertible into equity.
Both the SM and Ortigas groups declined to comment on the prospective transaction Wednesday.

davidheathe

February 9th, 2012, 02:47 AM

sy's wealth seems to be growing exponentially. success breeds more success

Ady001

February 9th, 2012, 04:24 AM

^^ Sa akin ang Makati, iyo ang Mandaluyong (The True Story of Ayala and Sy)

[jeyps]

February 9th, 2012, 06:27 AM

^^ Sa akin ang Makati, iyo ang Mandaluyong (The True Story of Ayala and Sy)

parang may karugtong pa ito...

Sa akin ang Makati, iyo ang Mandaluyong....pati North Edsa saka pasig, isama mo pa ang manila bay, ang marcos hiway, ang baguio, pampanga, taytay, cebu, bacolod, davao... kahit ang Xiamen, Jinjiang, Chengdu :lol::lol::lol:

Ady001

February 9th, 2012, 07:10 AM

^^ I'm still rooting for the Gaisanos.

Add ko lang: OK lang naman kung sila ang maghari, wag lang ang mga politico.

Officialdmcileasing

February 9th, 2012, 10:32 AM

Wow big big news indeed! SM is oh so loaded! :cheers:

Yaman naman nila.. haha

davidheathe

February 9th, 2012, 11:34 AM

^^ Sa akin ang Makati, iyo ang Mandaluyong (The True Story of Ayala and Sy)

matagal na sa real estate biz ang ayala kaya malaki-laki ang landbank nila. that's what i like about ayala-led developments especially kung malaki-laki ung land like bgc and nuvali. ayala keeps on reinventing itself proof of that is bgc. pero you gotta hand it to sm. in a span of a few years sy's worth will reach 10 billion while lately less than 2 billion ang ayalas.

kay sy din ung pasay. i think the MOA area will be the next big thing after bgc. pero ayala is banking on QCBD. interesting fight, indeed :)

Ady001

February 9th, 2012, 11:42 AM

^^ Sy is very bullish IMHO. He's probably bent in turning the entire country into a total mall country, and come to think of it, when BDO acquired Equitable PCI it was not only hostile but surprising. and now, condos with one syllables na din yung pinoproliferate niya dito sa metro.

Ayala must not succumb to them. Yes, ayala is quite conservative but it can still lead the race.

Gaisano might be the first victim of SM dominance though I'm seeing Gaisano malls mushrooming in small cities.

Lucio Tan's Eton is focusing on China and probably Go as well.

I have nothing against Chinoys dominating the country, I just hope they run it well.

Is Sy starting a monopoly? Probably yes.

Arvor

February 9th, 2012, 02:27 PM

-----

xxxriainxxx

February 9th, 2012, 02:29 PM

Pangit ng mga Gaisano malls. Hanggang ukay-ukay na lang talaga sila.

Knitemplar

February 9th, 2012, 02:42 PM

Wow big big news indeed! SM is oh so loaded! :cheers:

There must be something that the Sys see that the Ortigases or myself don't. I haven't been back to Manila in like 8 years, but that whole Greenhills/Pasig/Eastwood area is already developed. The only big plot left is the Rizal Provincial Capital compound on Shaw which is just leased from the Ortigases. So I don't know how Sy can get its $950 million investment back in one generation? Or unless sisibakin iyong Poveda or LS-Greenhills in which case that's prime land.

davidheathe

February 9th, 2012, 03:25 PM

There must be something that the Sys see that the Ortigases or myself don't. I haven't been back to Manila in like 8 years, but that whole Greenhills/Pasig/Eastwood area is already developed. The only big plot left is the Rizal Provincial Capital compound on Shaw which is just leased from the Ortigases. So I don't know how Sy can get its $950 million investment back in one generation? Or unless sisibakin iyong Poveda or LS-Greenhills in which case that's prime land.

honestly, i dont think henry needs a generation to get back that money. 10-15 years perhaps? 4 billion a year for the next 10 years would do that. he may need 20 years to get that back but he got time in his hands. the more money one has, the more money that money breeds. the rich gets richer, as they say :)

Arvor

February 9th, 2012, 03:36 PM

Yeah instead of pieces of paper or virtual numbers floating around in cyberspace the money spent got him "real and tangible assets" which isn't a bad thing and there is no doubt that it will make him more money over time than that which he has spent .

Knitemplar

February 9th, 2012, 08:33 PM

but he got time in his hands.

uhmmm, he's what? 86? Unless he's made a pact with the devil, he ain't gonna see the fruits of this transaction too soon. His heirs surely.

3cr

February 10th, 2012, 12:09 AM

SM keen to tap Ortigas camp’s vast landholdings
Business World
http://www.bworldonline.com/content.php?section=Corporate&title=SM-keen-to-tap-Ortigas-camp’s-vast-landholdings&id=46536

THE SM Group tagged the vast landholdings of the Ortigas camp as a key interest when it yesterday confirmed takeover talks, which analysts say could result in a profitable synergy of assets and know-how.

“We confirm that SM Group is in the process of discussion for the acquisition of majority interest in [OCLP Holdings, Inc.],”Jose T. Sio, SM Investments Corp. executive vice-president and chief finance officer said.

“Ortigas has a large land asset portfolio. If it pushes through, there will definitely be a good synergy for the residential and retail segments,” Corazon P. Guidote, SM Investments senior vice-president for investor relations told BusinessWorld in a telephone interview yesterday.

Details of the acquisition have yet to be finalized, Mr. Sio added.

Ortigas was hit by the 1997 Asian financial crisis, and is currently considering restructuring efforts to attract investors.

Last year, it bared plans to spend roughly P25 billion in 15 years for a 10-hectare, mixed-use development south of the Ortigas business district.

“It is our understanding that some key [company] shareholders are in dialogue and discussion with a prospective buyer...” J. Rowell L. Recinto, OCLP Holdings president and chief executive said in a separate e-mailed statement yesterday.

“But a deal has not been concluded. In the meantime, it is business as usual for the company,” Mr. Recinto added without elaborating.
SM’s planned acquisition is expected to give the Sy-led conglomerate more room to expand, experts said.

“SM can do wonders with this developable land in the medium to long-term, both for sale or lease for recurring income. This merger will make SM a formidable player in the property market moving forward,” Victor J. Asuncion, CB Richard Ellis Philippines, Inc. research and consultancy services executive director, said in an e-mail yesterday.

“Ortigas is a strategic land bank acquisition for SM. At the rate SM is developing its assets, they need the land bank of Ortigas for future development and to sustain revenue growth,” Mr. Asuncion added.

The likely acquisition is also seen to improve the SM group’s bottom line.

“I think the deal will boil down to the financials of SM. More available real estate spaces would contribute to the company’s revenue-generating capacity. It’s definitely a plus for SM,” said Freya B. Natividad, analyst at online brokerage 2TradeAsia.com in a telephone interview yesterday.

SM Investments has so far hiked its nine-month net income last year to P14.7 billion, 13.6% higher than P12.48 billion in 2010 on the back of robust revenues from its retail and banking businesses.

Ady001

February 10th, 2012, 01:47 AM

^^ Kulang na lang talaga kunin niya yung Hacienda Luisita :crazy:

Officialdmcileasing

February 10th, 2012, 03:07 AM

Simple Tips to Boost Your House and Lot Value

It undeniable that house and lot and other real estate property prices have been dropping and have experience major deflation. A real estate chart from http://www.jparsons.net/ shows that in the year 2005 & 2006 home prices in the United States have sky rocketed while the succeeding years shows that prices of national housing has deflated. In the real estate market today, prices have been steadily been falling. Experts say that this could continue to the coming years not until the world economy improves.

Read Entire Article here! (http://business.ezinemark.com/simple-tips-to-boost-your-house-and-lot-value-7d33d015bc72.html)

boypad

February 10th, 2012, 06:25 AM

Ilang sikat na subdibisyon sa Q.C., nakapatong o malapit sa fault line :ohno:

GMA New.tv
February 9, 2012 11:53pm

Nanawagan si Quezon City Mayor Herbert Bautista sa mga residente na nakatayo ang mga bahay, o malapit sa Marikina fault line na lumipat ng kanilang matitirhan.

Ang panawagan ay ginawa ng alkalde kasunod ng pinapatinding information drive ng lokal na pamahalaan upang makapaghanda ang mga tao sakaling magkaroon ng malakas na lindol.

“Our plan is to discourage the construction of structures within the 5 meter-wide borders or buffer zone on both sides of the fault line (West Valley Fault Line o Marikina Fault)," anang alkalde.

“We are considering declaring this buffer zone as non-residential to avoid further damage in case of ground rupture," dagdag ni Bautista sa pahayag.

Ilan sa mga subdibisyon sa Quezon City na nasa ibabaw o malapit sa fault line ay ang:

-Loyola Grand Villas
-Loyola Subdivision
-Ateneo de Manila University
-Barangka
-Monte Vista Subdivision
-Industrial Valley Subdivision
-Cinco Hermanos Subdivision
-Blue Ridge Subdivision
-The Acropolis
-White Plains Subdivision at
-Green Meadows Subdivision

Samantala, ang mga kalsada naman na nasa fault line ay ang:

-A. Bonifacio Ave. (Barangka)
-Marcos Highway (Barangka)
-Santolan Road (Blue Ridge)
-C5(Near St. Ignatius Village) at
-Green Meadows Ave.

Binigyan-diin ni Bautista ang kahalagahan ng paghahanda upang makaiwas sa disgrasya sa panahon ng matinding kalamidad.

Idinagdag niya na patuloy ang isasagawa nilang “tagging" at “marking" sa mga lugar na nasa fault line upang maipaalam sa publiko ang posibleng peligro na kanilang kakaharapin sa panahon ng lindol.

Nitong nakaraang taon, inihayag ng Philippine Institute of Volcanology and Seismology na “hinog" na sa panahon ang Marikina Valley Fault Line para muling gumalaw.

Nitong Lunes, niyanig ng lindol na may sukat na 6.8-magnitude ang Visayas kung saan umabot na sa 43 katao ang naiulat na nasasawi. - RRDinglasan/FRJ/KG, GMA News

http://www.gmanetwork.com/news/story/247481/ulatfilipino/balitangpinoy/ilang-sikat-na-subdibisyon-sa-q-c-nakapatong-o-malapit-sa-fault-line?ref=secitem

Ady001

February 10th, 2012, 11:49 AM

^^ Delikado talaga... :(

movingtoPI

February 10th, 2012, 01:28 PM

hey got a quick favor to ask you guys i used to work with a bunch of filipinos (they were such great people thats one of the main reasons ive chosen PI as my destination) and was particularly good friends with one lady in particular

i would like to send a text to her in tagalog to mess with her head a bit and was wondering if someone could translate the following inside joke for me

"hey ......... i know that ........ birthday is coming up do you want me to send you the recipe for ........ so that you can make it for her???"

im guessing the first word will be kumusta :)

thanks if anyone can help :) this lady is awesome and so fun to joke around with

todjikid

February 10th, 2012, 06:22 PM

kamusta...Alam ko yan....malapit na ang birthday.gusto mo bigyan kita ng recipe ng....para maipagluto mo siya?

movingtoPI

February 11th, 2012, 02:08 AM

ok now will someone confirm that he/she is telling me the right thing and not telling me to ask her if she wants to have a threesome with me and my pet cat or something weird like that :)

Ady001

February 11th, 2012, 02:34 AM

^^ It's correct, but honestly we can speak English. anyhow, it's correct.

(We will not use your pet cat as an excuse as I have pet cats at home too.)

hey got a quick favor to ask you guys i used to work with a bunch of filipinos (they were such great people thats one of the main reasons ive chosen PI as my destination) and was particularly good friends with one lady in particular

i would like to send a text to her in tagalog to mess with her head a bit and was wondering if someone could translate the following inside joke for me

"hey ......... i know that ........ birthday is coming up do you want me to send you the recipe for ........ so that you can make it for her???"

im guessing the first word will be kumusta :)

thanks if anyone can help :) this lady is awesome and so fun to joke around with

Uy _____, nalaman ko pala na parating na pala yung birthday ni _______ so gusto mo bang padalhan kita ng recipe ng/kay _______ para magawa mo sa kanya?

the reason why I used ng/kay is because "ng" refers to the "recipe" and "kay" refers to the person.

(sorry for the OT mods, movingtoPI you can perhaps move your questions to Travel and Tourism thread. :D there are a lot of helpful dudes there.

movingtoPI

February 11th, 2012, 02:48 AM

hehe i was just kidding thanks for the help i wish i could see the reaction on her face :)

(fwiw she speaks english shes just gonna freak out at me sending her a text in tagalog)

movingtoPI

February 11th, 2012, 02:52 AM

ya sorry for the offtopic, i wont ask again in this thread it was just a spur of the moment thing and u can delete this if you like

ady which do u suggest i use? the first one is a little easier will it make since to her?

Ady001

February 11th, 2012, 12:06 PM

^^ you can use either one.

movingtoPI

February 12th, 2012, 04:32 AM

surprised that those havent been deleted yet.... thanks peeps i sent it to her last night :)

what do you all know about the Xevera Mabalacat area? i was told about this last night and googled it and it looks amazing

rent starting at 3500 a month (under $90!!!!) and the area looks really nice

is it as nice as the pictures look? would it be safe for a white guy to live on his own? would the internet be good there?

just seems like i have to be missing something cuz it sounds to good to be true........

Ady001

February 12th, 2012, 05:53 AM

^^ Find someone near Pampanga to communicate, otherwise, you may want to reconsider:

http://www.manilastandardtoday.com/insideOpinion.htm?f=2011/april/20/alvincapino.isx&d=2011/april/20

Arvor

February 12th, 2012, 11:37 AM

I think ive seen that area on google earth it's somewhere north of Angeles city and near clark airport former us air force base, if i remember it was nearby a rather large river in a province prone to severe flooding so id be cautious of staying there .

Like ive said b4 if you are willing to stay somewhere like that then consider Las Pinas or else perhaps Cebu or Tagaytay, imo flooding is really the main recurrent concern in area's north of Manila to the plains extending to Lingayen gulf .

Davao city i think has the most stable and good weather conditions all year round you barely hear news about earthquakes either and is relatively spared by the Typhoons which usually pass just north of Mindanao, it's just a bit unsafe to travel well beyond the cities boundaries into the deep provinces but the city itself is said to be the safest in the country and it's got the usual malls, restaurants and whatnot .

At least that's what ive heard and know of it ive never been to Davao but i sure am planning to visit next time im in the country, perhaps there are other forumers who have ... .

movingtoPI

February 12th, 2012, 02:00 PM

ya after what ive read about mindanao im pretty much never gonna go to davao, i know the mayor there is like crazy with stopping crime but its just not worth it, plus if i told my mom i was moving there and she googled it she wouldnt be able to sleep the entire time i was gone

there are really only 2 extremely bad outcomes that could happen by my moving over there and getting kidnapped would be one of them

ive been told xevera mabalacat is a 20 minute jeepney from angeles/clark so should be pretty close

thanks for the info though arvor flooding is something that obviously never even comes to mind for me when considering places to live

interesting link ady, if im renting and not buying i really shouldnt have anything to worry about though right?

Officialdmcileasing

February 13th, 2012, 02:07 AM

Basis to Include Security Alarms in the Apartment

The word security as defined by Wikipedia.org is the extent of safety against jeopardy, damage, catastrophe and abomination. It's undeniable that offenses against the law all over the world are high and several of these crimes were household linked crimes. Yes, the volume of villains doing household related cases such as robberies is increasing. Thus increasing your home's security is vital. Security alarms are one of the several types of home security. Investing in an alarm system is a very good option, since it has been justified that it gives burglary preemption as well as complete soundness of mind to home owners.

Article Source: http://EzineArticles.com/6870410 :banana::banana:

movingtoPI

February 14th, 2012, 03:51 AM

b_9904

February 14th, 2012, 04:18 AM

arvor how serious a problem is flooding? cuz here in the US (or at least where i was from) it might come up once every few years but if you arent in a really bad spot you will be fine

sounds like its a much more major issue over there

If flooding is a concern and you wanna live in the Philippines then I suggest that you look for a place in Tagaytay or Silang in Cavite. If you wanna be around other foreigners, like yourself, then go look for a place in Dumaguete, Negros Oriental. If you like beaches then Cebu is a nicer place and safer place as against Davao. If you wanna look for work then live in Manila.

Flooding is a major RECURRING issue in the Philippines.

Ady001

February 14th, 2012, 06:00 AM

arvor how serious a problem is flooding? cuz here in the US (or at least where i was from) it might come up once every few years but if you arent in a really bad spot you will be fine

sounds like its a much more major issue over there

Yup, flooding is a major issue, but not if you live in farther suburban areas.

I currently live in an area near SM North where the connection is mighty fine (knocking on wood) and doesn't have that much flooding (only when Ketsana came.)

But overall, flooding is a major, major issue here.

Arvor

February 14th, 2012, 01:36 PM

arvor how serious a problem is flooding? cuz here in the US (or at least where i was from) it might come up once every few years but if you arent in a really bad spot you will be fine

sounds like its a much more major issue over there

Well as others have mentioned it's pretty much Noah's ark season once a year lol, seriously tho it depends on the area just as where you are from but the most flood prone area's are usually in parts of Metro Manila in the center due to a mix of wild urban growth with too little in the way of planning and too much concrete, low lying lands and outdated or insufficient infrastructure to channel the waters, otherwise regions mainly to the north and the low lying plains all the way to the Lingayen gulf in Pangasinan this includes Angeles city which are basically also low lying plains criss crossed by lots of rivers .

Southern Metro Manila is less affected because it is located on the foothills of a mountain range culminating in Tagaytay ridge this is why even during the worst storms places like Las Pinas have not really suffered any real or severe waist deep to roof level flooding, of course typhoons can cause other damage due to high winds that's pretty much inescapable but flooding can be avoided if you can pick the right place to stay .

http://www.buzzen.com/files/pictures/img_169513_1_148.jpg
http://www.dartmouth.edu/~floods/images/2003170Luzon.jpg

The map above is a bit dated but the information remains current as those are still the usual places that experience flooding which varies in severity year on year, in Metro Manila which is quite large depending on the area or from one block to the next it could be ankle deep to rooftop high in the worst case like Typhoon Ketsana a year or two ago .

Of course you shouldn't navel gaze too much just be kindof aware of it when you evaluate a place .

movingtoPI

February 15th, 2012, 01:13 AM

Ady001

February 15th, 2012, 06:08 AM

^^ $90 a month is only going to nick you a decent one roomer somewhere in Quezon City. Makati rents can be exorbitant.

you may want to visit the individual threads in SSC, especially those in the Metro Manila threads to give you a feel of the city.

movingtoPI

February 15th, 2012, 07:24 AM

true, i meant if in this xevera mabalacat place that im gonna atleast check out

my friend said there are some bad people in that area

all along ive been planning on makati but its so expensive and sounds horribly polluted

dont wanna be walking down the street breathing through my shirt, but its still probably where ill end up though my friend today suggested clark because she thinks itll be easier for me to fit in

again im sorry to keep posting here if its the wrong place, i asked one random question in a diff forum it got moved here so this is where i keep posting lol.....

when putting that map up next to a map of PI it looks to me that mabalacat is just a bit east of the red blotches....... could be wrong though its kinda hard to match them up

Arvor

February 15th, 2012, 10:35 PM

my friend today suggested clark because she thinks itll be easier for me to fit in

Lol fit in with the "john's" or "punters", actually here's an idea why not try "Guam" it's near the Phillippines it's got lots of Filipinos living there it's got the same weather yet still part of the US and if you feel like coming over to the Phillippines well it's just a few hours plane ride away .

Guam was actually part of Spanish Phillippines back in the day ... .

movingtoPI

February 16th, 2012, 01:44 AM

hehe im gonna go with the assumption that she meant id fit in there because there are more americans

:)

im coming to play online poker, if guam is part of the US then its probably illegal there as well

arvor am i right in thinking that clark/angeles/mabalacat are to the east of those red splotches?

Officialdmcileasing

February 16th, 2012, 03:13 AM

Competition is very tough today! Especially real estate.

Article Title: Effective Real Estate Marketing Techniques

Preview:

It is undeniable that real estate industry is one among those prosperous existing business in different parts of the globe. In this case, competition is getting tougher and tougher as every single day passes by, so one must have an effective real estate marketing techniques in order to increase sales at the same time become competitive among others and that will be the highlight of this article. It aims to help and give significant insights on how to come up with effective real estate marketing techniques that is effective in building good business reputation.

Read Entire Article here.. (http://goarticles.com/article/Effective-Real-Estate-Marketing-Techniques/6096696/)

3cr

February 16th, 2012, 03:20 AM

Clark or Subic will be good options for your budget as both locations have a good american population (so you know it's safe) and will give you good bang for your buck overhead-wise compared to being in the Metro. Internet connection is also good in those two former US bases.

true, i meant if in this xevera mabalacat place that im gonna atleast check out

my friend said there are some bad people in that area

all along ive been planning on makati but its so expensive and sounds horribly polluted

dont wanna be walking down the street breathing through my shirt, but its still probably where ill end up though my friend today suggested clark because she thinks itll be easier for me to fit in

again im sorry to keep posting here if its the wrong place, i asked one random question in a diff forum it got moved here so this is where i keep posting lol.....

when putting that map up next to a map of PI it looks to me that mabalacat is just a bit east of the red blotches....... could be wrong though its kinda hard to match them up

Arvor

February 16th, 2012, 10:55 AM

arvor am i right in thinking that clark/angeles/mabalacat are to the east of those red splotches?

Well hard to tell with that map so i looked it up on google earth, if you can see that little round dimple thing there in the center i have managed to identify it as being "mount arayat" which is located to the east of Angeles and Mabalacat so the area would be to the west of that little dimple, more precisely to the west of it and between those two lines of rivers one that curves to the north of it and the other that touches the dimple with an erratic course .

That map tho should only be taken as a guide it indicates past flooding but in the end of the day the Xevera-Mabalacat area is adjacent to a river, i guess the best thing is to simply rent something for a short period of time initially and then talk to other expats or locals to find out more and eventually move if necessary .

Like ive said probably shouldn't navel gaze too much about this just know that it could be a risk amongst others .

Officialdmcileasing

February 17th, 2012, 04:08 AM

What Affordability Really Means

Are you looking for an affordable apartment? Do you know what affordability really mean? A lot of people mistakenly define affordability means low price. Yes, in some aspects, affordability relays on money matters but when you really dig its deep meaning it does not only mean money. Let us talk about apartments, affordable apartment does not only mean that the rental fee is low, the place is considered affordable if you get what you have paid for. You need to bear in mind that there are factors to consider in telling if a place is affordable. Here, you will read about three factors that you need have in mind whenever you are looking a new place where you can reside.

1. The place should be safe and secured. This means that when you look for a new place, you need to make sure the house or apartment posses all the needed devices, equipment and people to secure your safety. This includes locks, surveillance cameras, fire protection equipment, fire alarms and security guards that are watching the vicinity. Luckily many of the apartments for rent and houses for sale around the world have complete security measures. Home builders and landlords have been responsible enough to provide their tenants real time security and action.

Read Entire Article! (http://www.amazines.com/article_detail.cfm/3808730?articleid=3808730&title=What%2CAffordability%2CReally%2CMeans%2Capartments%2Cfor%2Crent%2Chouses%2Cfor%2Csale) :angel1::okay:

movingtoPI

February 17th, 2012, 05:15 AM

k thanks arvor

like i said in the above post if im only paying $90 a month for rent and hear that a flood is going to be coming in i'd just go to an area that isnt gonna be flooded and get a hotel for a few days

thanks for input also 3cr

RonnieR

February 17th, 2012, 06:08 AM

is makati affected?

when you say waist or roof high.... if you live in an apt does the water make it in? be on a higher floor i guess?

does the whole city just shut down? i assume it would kind of have to

how long do these floods last? a few hours? all day? a week? can you really be trapped in your apt for a week!?!?!?

do you know ahead of time that the floods are about to come? cuz i guess if im only paying $90 a month for an apt and hear that there are gonna be floods for the next couple weeks i could always just get a hotel somewhere else not in the flood zone during that time, take a trip to cebu or manilla or something

as always thanks for the info

Makati is generally safe from floods. If floods happen in few areas outside the CBD, the water recedes immediately, not more than 24 hours. PH is visited by at an average of 20 typhoons every year. Out of 20 typhoons, an average of 3 hit Metro Manila and it is not always destructive.

I've been to Mabalacat, Pampanga. If you want to stay in that area, I suggest you stay in Angeles City, or near Clark Field. You have many choices there and there are a considerable number of foreigners living in the area. The "Red Light" district of Angeles City is alive!

movingtoPI

February 18th, 2012, 06:20 AM

what would be bad about mabalacat?

i can deal with a lot of bad stuff if my rent is $90 a month for a pretty nice apt

RonnieR

February 20th, 2012, 08:43 AM

^^
I have nothing against Mabalacat. The public transportation problem would be a hindrance there since it is not near from the business or commercial district. With this, you have to consider the following:

1. taxis are expensive if you hire them on "contract basis". I don't see metered taxis in the area.
2. if you take the public jeepneys, you should consider if jeepneys are available at night if you go to entertainment/commercial district of Angeles.

surprised that those havent been deleted yet.... thanks peeps i sent it to her last night :)

what do you all know about the Xevera Mabalacat area? i was told about this last night and googled it and it looks amazing

rent starting at 3500 a month (under $90!!!!) and the area looks really nice

is it as nice as the pictures look? would it be safe for a white guy to live on his own? would the internet be good there?

just seems like i have to be missing something cuz it sounds to good to be true........

I read from your previous post wherein you stated that the air pollution in Makati is worse. Air quality here is better than other major cities in Asia. In fact, the latest ranking from SIEMENS' study revealed that Manila got an "Above Average" Rating for Air Quality. Here's the link:

http://www.siemens.com/press/pool/de/events/2011/corporate/2011-02-asia/asian-gci-report-e.pdf

Arvor

February 20th, 2012, 01:20 PM

Lol the typhoons from the Pacific blows all the pollution back to China ... .

movingtoPI

February 21st, 2012, 01:05 AM

^^
I have nothing against Mabalacat. The public transportation problem would be a hindrance there since it is not near from the business or commercial district. With this, you have to consider the following:

1. taxis are expensive if you hire them on "contract basis". I don't see metered taxis in the area.
2. if you take the public jeepneys, you should consider if jeepneys are available at night if you go to entertainment/commercial district of Angeles.

I read from your previous post wherein you stated that the air pollution in Makati is worse. Air quality here is better than other major cities in Asia. In fact, the latest ranking from SIEMENS' study revealed that Manila got an "Above Average" Rating for Air Quality. Here's the link:

http://www.siemens.com/press/pool/de/events/2011/corporate/2011-02-asia/asian-gci-report-e.pdf

interesting, from what ive been told on the forum where ive got most of my info (a poker forum with some players over there) the pollution in manilla and cebu is awful and that people walk around holding shirts over there face to filter the air (not everyone, but some)

fwiw im gonna quit ruining this thread with my random posts that have nothing to do with it and move over to the angeles and san fernando thread (at least for the questions about mabalacat/clark/angeles)

thank you all for your answers/posts they have been helpful

InfinitiFX45

February 27th, 2012, 06:04 AM

8 rants about owning a PH condo :)

by Tessa R. Salazar | Philippine Daily Inquirer | Friday | February 24th, 2012 | 10:20 pm

THE INCREASING number of condo units near employees’ workplace also meant buyers should be more discerning.

http://business-cdn.inquirer.net/files/2012/02/prop1-300x225.jpg
Photo by Tessa R. Salazar

First in a series

Owning a piece of real estate such as a condominium unit has become a reachable dream for the multitude belonging to the working class. The healthy competition among developers has resulted in competitive pricing and more flexible payment schemes.

At a price range of P45,000 to P80,000 per square meter depending on the project location, a wider base of buyers are taking up units big and small near their places of work. The condominium business has become the darling of the local real estate industry.

But what’s on the flip side of this seemingly pretty picture of happy condo buyers and (even) happier developers? Inquirer Property has come across discerning readers and buyers who have had not-so-pleasant experiences of buying condominium units in the Philippines. Then, we asked property experts to either confirm or explain these experiences. Here are some surprising insights and revelations on the 8 most-ranted-about issues of buying condo units in the Philippines

1 Condos don’t come with the parking slots.

One reader/buyer ranted: “Developers don’t provide units with their own parking slot. We have to buy a separate lot with a separate title just for parking.”

Architect Edilberto J. Morcilla did confirm that parking slots are not bundled with the condo unit most of the time. “It is an option for a client to buy or not. It has a separate title, thus, a separate acquisition cost. Many buyers would also opt not to have a parking slot. Designers therefore do not provide a one-to-one ratio for units and parking slots.”

National Real Estate Association chair Alejandro S. Mañalac agreed with this observation. “Most developers do provide parking slots, but yes you have to buy them separately. This gives the buyer a choice whether to get one or not. It is more practical than automatically offering the unit with parking (with the corresponding additional price, of course) and ‘forcing’ the clients to buy them even if they don’t have use for them, especially those who are just intending to lease out their units. But, as a piece of advice to condo buyers, it is really more practical to buy a parking slot. You may not have use for them but you can definitely easily lease them out.”

Enrique M. Soriano, Ateneo program director for real estate and senior adviser for Wong+Bernstein Business Advisory, explained that developers must balance parking provisions vis-à-vis various unit sizes, and usually priority slots are given to bigger sized units. The building code provides a certain ratio, sq m over parking, making a parking purchase not automatic and separate from the condo unit.

2 Lost deposits.

“If you are in the process of buying a condo, you will go through all kinds of problems from (agents). You will lose your deposit if you don’t follow up all the time,” another buyer ranted.

http://business-cdn.inquirer.net/files/2012/02/prop2-300x199.jpg
Photo by Tessa R. Salazar

Soriano confirmed this happening. “Agents come and go, however, buyers must also have the initiative to track their purchase and not be overly dependent on agents.”

Mañalac said, “If you buy from the wrong agent, you will experience this whether you are buying real estate, cars, insurance, etc. Some buyers also tell their agents that they will just buy through their friends or relatives who are not really into the property business but just to give them a favor. This messes up the whole thing. Also, if you buy from an agent, and you ask for all their commissions, why should you expect good service?”

Morcilla explained that condo projects, especially the fast-moving ones, follow strict deadlines when it comes to unit reservations. Buyers must be mindful of the deadlines to submit pertinent documents as other agents might be eyeing the same units for their own clients. Failure to submit needed documents can and will result to the forfeiture of reservation fees, because there is also what is called the “lost opportunity”
for the developer.

3 Overseas Filipino workers are taken advantage of.

“Overseas Filipino workers have more problems (when buying condo units in the Philippines) as they are being taken advantage of. Buyers lose their deposits and payments because of corruption in the system. Sometimes, the OFW isn’t aware that he or she has been paying for a unit owned by many other buyers or existing owners, and corrupt agents collect payments from all of them. If you’re not in the Philippines they take advantage of your absence. And there are just too many paper work which are so complicated,” an angry reader writes.

“Agree,” Soriano quipped, as he added, “And I empathize. Overseas buyers really go through the wringer. The key is to invest on reputable developers with a long history of delivering quality projects on time.”

Mañalac revealed, “It is true that there are other agents selling abroad. Some were officially sent by their companies to do roadshows, while some are there on their own. It is very important for our OFWs to be very careful in dealing with these agents since they will not be here to personally attend to their accounts.” He then urges OFWs to answer these important questions whenever they encounter agents offering condos in the Philippines:

Does the agent belong to a credible company with a good track record of delivering their projects with good quality and on time?

SOME EMPLOYEES would rather purchase a condo unit near their offices than buy a car and drive to work.

http://business-cdn.inquirer.net/files/2012/02/prop3-198x300.jpg
Photo by Tessa R. Salazar

Is he or she an official representative of the company? It would be better if the developer has an official and legitimate office in that particular foreign country.

Are the agents quoting you the official prices and availability of the units? It would be better if their inventories and official computation templates were online.

Does the agent’s company maintain an online client portal where buyers can securely access their accounts anytime? This would be useful, especially when the agents are inaccessible or have left the company.

Mañalac said paperwork is necessary, whether they are buying properties here or abroad. Basically, though, this paperwork is really just part of a contract printed in several sets for buyer’s signatures, which makes it seem already voluminous for some. Expect additional paperwork when buyers avail of financing either through banks or a Pag-Ibig housing loan.

Morcilla said OFWs acquiring condo units can expect the process to be a “little more complicated,” more so if the overseas Filipino assigns a local representative not knowledgeable in such transactions.

“Being taken advantage of can happen in any business transaction. It is best that one must first solicit for a recommendation from relatives or friends for a more reliable developer, marketing firms or agents for that matter, before negotiating for a unit. Also, be cautious and discerning with your agent who might be ready to move heaven and earth just to close a sale. Most of all, if one is serious in buying a condo unit and after paying reservation fees, make sure to have the necessary documents delivered on time to avoid forfeiture as they are allowed to do so, for the reason given above,” Morcilla cautioned.

(Next: Rants 4 to 8—Multiple ownerships, association dues, geologic hazards, discounts and damaged units, and accountabilities in the event of a man-made disaster)

Source: http://business.inquirer.net/46215/8-rants-about-owning-a-ph-condo

Officialdmcileasing

February 28th, 2012, 06:14 AM

Hmm.. ^^ If that true then that's bad news!

[jeyps]

February 28th, 2012, 06:50 PM

Aside from hlurb...do we have other bodies or organization to side with the condo buyers. It seems most developers are delayed and giving overpriced units and fees. Consumers' protection act or something like that...

Ady001

February 29th, 2012, 04:24 AM

^^ You can ask anone for that :D

Officialdmcileasing

February 29th, 2012, 06:05 AM

Well there are a lot of home developers who price their units according to what they offer. :)

InfinitiFX45

March 3rd, 2012, 02:32 AM

Condo buyers encounter more woes in PH :)

by Tessa R. Salazar | Philippine Daily Inquirer | Saturday | March 3rd, 2012 | 1:16 am

http://business-cdn.inquirer.net/files/2012/03/TessaManila1-300x225.jpg
BUYING condo unit that’s literally a stone’s throw away from your workplace? Choose a company and agents with real estate experience and proven track record. Photo by Tessa R. Salazar

Second in a series

Condominiums are no longer the exclusive domains of the moneyed. They have also become financially attainable by the working class. Consider the competitive prices of condominiums at P45,000 to P80,000 per square meter in the city, and one can understand how tempting it is to buy a place to live in and be literally a stone’s throw away from the workplace.

However convenient condo living may be, buying a unit can be frustratingly difficult, as Inquirer Property started revealing last week, based on the experiences of actual buyers who e-mailed their buying “woes.” This series started by citing the first three of the eight most-ranted-about issues: condos with no parking slots; lost deposits; and overseas Filipino workers taken advantage of.

Before proceeding to the next rants, let’s expound a bit more on the overseas Filipinos’ complaints, particularly on payment forfeiture. A disgruntled reader/buyer wrote Inquirer Property online, “As a result of an OFW’s ‘absence,’ paperwork does not matter to selling agents, as they do not help you out. They just forfeit your payments.”

National Real Estate Association chair Alejandro S. Mañalac shed light on this issue. Most developers, he said, make “forfeitures their last resort. However, in most cases, this is not done without due process. Notices and reminders are sent with ample time/grace period for settlement before a final demand or notice of forfeiture is served (via registered mail).”

Mañalac stressed that the most important action in situations like these would be to communicate with the developers and “never ignore” their notices.

“If they have valid reasons and are not in habitual default of their payments, considerations and even restructuring of payments are accommodated. The problem is that some buyers ignore these letters and use the lame excuse that they are not receiving these notices (that is why it is very important to indicate the mailing address in the buyer’s info sheet that they fill up because this will be the same address used for the contract. Also, make sure that in case they decide to use their local address here, the people residing in the local address are responsible enough to inform them about such notices. There are many cases where relatives do not inform the buyers that the account is already delinquent),” Mañalac said.

Veteran real estate broker and educator Enrico Cruz of Marikina said OFWs should seek out reliable salespersons and brokers (before buying). Cruz said he always taught his students at Urban Institute that brokers and salespersons should always remember that the buyer is their principal, even if the commission fee they receive comes from the developer.

4 “Multiple ownership leads to manipulation of condominium units.”

A reader lamented that “Koreans, Chinese and Filipino politicians who own a number of units are renting out their units to ‘balikbayans’ for the duration of their vacation… Are they (unit owners) even paying income tax for renting out?”

Architect Edilberto J. Morcilla agreed with the observation. “Since foreign nationals are not allowed by Philippine law to own land, but allowed to own condominium units, these enterprising foreigners opt to buy several units for their investments. I am not sure, though, whether it will be easy for them to evade paying taxes as we now have stricter rules on taxation,” Morcilla said.

Mañalac said: “I am not sure whether the reader is referring to the ‘co-development/comunidades/Build-your-Own’ set-up where all the buyers are considered ‘co-owners’ or ‘co-developers.’”

http://business-cdn.inquirer.net/files/2012/03/TessaManila3-300x199.jpg
SEEK out reliable salespersons and brokers before buying a condo unit near your office. Ask around. Investigate. Photo by Tessa R. Salazar

He added, however, that it is true that “some units were sold to investors to be operated as condotels where the investors enjoy monthly returns through short- and long-term leasing of their units without personally managing it since it is being done by professional hotel operators, and there is absolutely nothing wrong with it.”

5 No price regulation of association dues.

Enrique M. Soriano, Ateneo program director for real estate and senior adviser for Wong+Bernstein Business Advisory, said: “Again, it’s a balancing financial act played by the developer in the initial stage prior to the turnover. Then, another challenge will come from the facilities manager managing the condo using as baseline variables like security, staffing, cost of maintenance, brand value and competitiveness.”

Mañalac said rates for association dues really depend on several factors: a) who manages the condo (in-house or professional building managers?); b) number of units/residents (to share in the operating expenses); and, c) size of common areas, amenities to maintain and to secure. “Thus, comparisons should be done apples to apples,” he stressed.

Morcilla said the varying rates would be due to “project cost and package prices of condominiums differing greatly, depending on location, amenities, specifications and of course, target market.” Cruz said such wildly varying dues happen “especially if the condominium corporation is still controlled by the developer.”

“However, for condominium corporations already in the hands of the unit owners, all dues and assessment emanates from the boards after thorough discussion with the members. Besides, any excess becomes property of the corporation, which is owned by unit owners,” Cruz said.

6 Some developers don’t reveal the “geological background” of the location.

“I agree (with this rant). There should be full disclosure,” quipped Soriano, while Manalac said, “Buyers should always exercise due diligence before buying a property, especially if a particular area has a recent history of problems like flooding, faultlines, landslides and the like.”

Morcilla said such geological data would be “too technical for most buyers, but for those who would want this particular information, the local government is the best entity to solicit documents from.” Cruz discloses that “development permits are issued by the Housing and Land Use Regulatory Board for the condo projects. The LGU issues building permits. These two should be able to prevent such an occurrence where a condo project is located in geo-hazard zone.”

7 No clear policy for discounts on bare or damaged units.

Soriano agreed with this complaint, observing that “buyers must catch up on a lot of issues before investing or buying a condominium.” Morcilla explained “This is also dependent on package prices of condominiums. Damaged units also differ on extent, thus, discounts cannot be encapsulated in the form of policy.”

Cruz agreed, saying discounts on bare/damaged units are the prerogative of the developer.

8 No clear policy on accountability when man-made disasters occur.

The unfortunate incident involving unit owners of the West Tower Condominium Building in Makati and the busted gas pipeline of First Philippine Industrial Corp. comes to mind. In such cases, Soriano said “legal remedies are provided through the condo corporation, but then again unit owners must contend with the Philippine legal system.”

Mañalac said “this problem would already be outside the developer’s concern and control.” Morcilla explained that “this falls on a different law of the land called ‘Writ of Kalikasan,’ where the Filipino people are empowered to assert their rights for a healthier environment.”

Cruz said building codes, structural codes, fire codes and development permits pinpoint responsibilities. “In the case of the pipeline leak, this is not the responsibility of the developer,” he said.

Source: http://business.inquirer.net/47257/condo-buyers-encounter-more-woes-in-ph