Real Estate and Housing Industry

[sarahwassmann]

http://www.skyscrapercity.com/showthread.php?t=959412

Is our project...
My wife bought it before we got to know each other and it has been handed over to us last year.

At least we have a place to stay when in Phil.


Just for you to understand, we Germans are rather conservative when it comes to real estate investment. We are usually renting for most of our life and usually buy to live.

[Ady001]

You'd hit the nail right on the head sir. I guess most people most of their lives do not want to rent, especially here in the Philippines wherein land is getting scarcer.

To give you an idea sir, the average Filipino would barely get by with a monthly salary of 15,000 pesos so an added income (or marrying someone else in the same income bracket) would do just fine.

However, most Filipinos prefer to rent close to their place while they are getting the house of their choice.

Most average housing loans, would run 30 years.

So most of us do take real estate seriously.

[sarahwassmann]

Oh I completely understand. Our loans run for the same period of time and we have quite a few schemes that support the average joe to buy his own property. However, it is really pretty much based on buy-to-live.

The median income is what gives me a bit of a worry. Because many projects are aiming at the high end to mid-class segment, which is still above the average income. I may be completely wrong, but these people are not able to afford to rent and live in these condo communities.
So you are pretty much relying on a small segment of the population, the same segment that can afford to buy on their own. I have seen the brokers over here selling their projects to the OFWs and quite frankly, people overestimate the ROI. So they end up having a unit that cannot cover its monthly installments.

So to sum it up, the property sales market is steady, perhaps even positive, based on OFWs investing but how about the rentals?

BTW, how is the taxation on properties and income, generated from properties in Phil?

[Ady001]

You'll have to ask some of our expert peeps here about the taxes mam and about those who bought their properties as well.

But I have to tell you now. Anything beyond the 20,000 pay scale as monthly rent is considered high in the rental market.

Again I am not to speak about this but considered that I live in Manila, for someone like me who earns on less than 30k but above 20k in pesos, 10,000 for rent is too much.

[sarahwassmann]

We're pretty much on the same line here. Rent for our place is supposed to be 20.000 and we are intending to do some alternations and furnish it, so we might be able to get a better yield through short term rental, which will enable us to live there when we are going to philippines, thus save the money for a hotel.

Thanks ADY

[RonnieR]

Guys, Acqua Livingstone? Is this the Acqua Residences across Rockwell?

http://www.buffalonews.com/business/...s-first-condo/

In the Philippines, Missoni’s First Condo
Culture, Travel

By STEPHEN HEYMAN
| March 23, 2012, 3:00 pm
A rendering of the lobby of Missoni's condominium tower, scheduled to be completed in 2015.A rendering of the lobby of Missoni’s $315 million condominium tower, scheduled to be completed in 2015.

From Milan to Kuwait City to Dubai to Edinburgh, Italian luxury fashion houses have clearly conquered the hotel business. Now it seems condominiums might be their next avenue of expansion. This week, the polychromatic money machine Missoni released renderings for its very first residential project, a condominium tower in a $315 million master-planned community in the Philippines.

The flashy tower, called Acqua Livingstone, is scheduled to be completed in 2015. Since the condominiums went on sale at the beginning of the month, 25 percent of them have already been purchased, according to the developer. The apartments are cheap by New York standards: one-bedroom units start at $82,000. The common spaces, like the pool, lobby and gym, are all decked out in the brand’s variegated squiggles and stripes, but the actual residences are empty of Missoni design touches, which are offered for an additional premium.

“We brought our colors and our style inside. It’s a happy, positive approach: summer colors, solar colors,” Vittorio Missoni said of the 52-story building. “Coming from the outside you’re going to be surprised. … It’s like opening a box and discovering something unexpected.”

[jpdm]

Pumasok na Camella sa Puerto Princesa, Palawan...Sigurado sunod sunod na ang pagpasok ng mga well-known mass housing developers nyan.

[Officialdmcileasing]

sigurado yan.. dadagsa na mga home developers sa Palawan!

[jpdm]

Originally Posted by Officialdmcileasing

sigurado yan.. dadagsa na mga home developers sa Palawan!

Basta pumasok ang Ayala (high-end) o Camella (middle class), siguradong susunod na ang iba pang well-known developers...

[Ady001]

Originally Posted by jpdm

Pumasok na Camella sa Puerto Princesa, Palawan...Sigurado sunod sunod na ang pagpasok ng mga well-known mass housing developers nyan.

I just heard this but Camella daw is good on the outside but poorly build on the inside.

[jpdm]

Originally Posted by Ady001

I just heard this but Camella daw is good on the outside but poorly build on the inside.

May katotohanan yan. Loko yung mga contractor na nakukuha. Tinitipid yung mga materyales. Kaya bago kunin ng buyer ang unit dapat paayos sa Camella muna.

Ganun naman lagi.


Kahit yung mga nakuha ni Chief Justice Corona kaya hindi sinama sa SALN dahil hindi in-accept ni Mrs. Corona ang Ayala Columns, kasi daw puro palpak ang pagkakagawa at ang Megaworld's Bellagio naman napakalaki ng nakuhang discount dahil daw palpak din pagkakagawa....ayon sa Defense team niya....toinks!

[Ady001]

Originally Posted by jpdm

Basta pumasok ang Ayala (high-end) o Camella (middle class), siguradong susunod na ang iba pang well-known developers...

My only problem with big time developers is that, as what Coniocondo says in one thread, they become "greedy."

[jpdm]

Originally Posted by Ady001

My only problem with big time developers is that, as what Coniocondo says in one thread, they become "greedy."

Yes thats the problem.

Ngayon pa lang may projected ng glut sa condo market.Kahit mayaman ka at may pera kung uubusin mo rin ay milyong piso bakit ka naman bibili ng condo lalo kung first home buyer ka o malaki pamilya mo? Siyempre bili ka na lang ng house and lot.

Delikado pa ang mga hi-rise lalo dito sa earthquake prone country of ours. Yun na ngang kay Corona's Columns and Bellagio hi-end na palpak papaano pa yung mga fly by night na "developers' daw. toinks!

[Ady001]

I don't want to be a Debbie Downer too but kahit na planong ipa-renta ng iba diyan yung mga condo nila, can the average Juan even afford the monthly mortgage?

[jpdm]

Originally Posted by Ady001

I don't want to be a Debbie Downer too but kahit na planong ipa-renta ng iba diyan yung mga condo nila, can the average Juan even afford the monthly mortgage?

Di kaya.

Magkano isang condo unit, studio type lang..1.2-2 million. E yung ngang row house na worth 300,000k lang (meron pa ba?)di pa kaya e.Pag-Ibig pa yung payment ha....

[Ady001]

Wala na sigurong Row House na tig 300,000 pero may iilan pa siguro sa may San Jose del Monte or Rizal (yung Eastwood Residences.)

[Officialdmcileasing]

I never knew that Camella properties are like that.. Suprising! They have to at least choose contractors na hindi titipidin ang mga materyales!

[LuckyLady]

Originally Posted by sarahwassmann

http://www.skyscrapercity.com/showthread.php?t=959412

Is our project...
My wife bought it before we got to know each other and it has been handed over to us last year.

At least we have a place to stay when in Phil.


Just for you to understand, we Germans are rather conservative when it comes to real estate investment. We are usually renting for most of our life and usually buy to live.

i think your wife bought a nice project. heard a lot of good things about the developer and i like the resort type of condo also.

[Ady001]

I'd usually disdain blogs as a source, but this one, is too hard to ignore:

http://djsumaylo.wordpress.com/2009/...s-home-owners/

(by the way, it was written by one of my friends and erstwhile lecturer D.J. Sumaylo.)

[siopao.asado]

Are columns part of the total area of a condo unit?
It says in the condominium act that the columns are considered as 'common' and part of the integral structure of the building.

If the column is almost 1 meter sq in area, should I complain about this? There are units that are in the price range of Php 100k per sqm. Php 100k is no easy money nowadays.