Real Estate and Housing Industry

[tchitz]

Originally Posted by 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.

Columns are considered common insofar as ownership is concerned because you are not allowed to alter it, but part of the unit area because it is within the horizontal & vertical boundaries of your unit. To understand unit area, think of an empty lot the size of 1000 square meter with no structure of any kind in it including fencing. If one day, the owner of the lot decide to fence the perimeter of the lot using thick hallow blocks 6 inches wide, would you say that the lot is now reduced by 6 inches all around? Of course not. The size of the lot is unchanged, although the livable (or useable) space certainly changed. Unit area and livable space are two different things, and the spec of a condo unit insofar it is defined in the CTBS (Contract to Buy and Sell) follows the unit measurement, not the livable space.

The onus rest on a prospective buyer to take into account any structural walls and post within a unit, as it certainly reduces the livable space and yet included in the unit area of measurement.

[siopao.asado]

Originally Posted by tchitz

Columns are considered common insofar as ownership is concerned because you are not allowed to alter it, but part of the unit area because it is within the horizontal & vertical boundaries of your unit. To understand unit area, think of an empty lot the size of 1000 square meter with no structure of any kind in it including fencing. If one day, the owner of the lot decide to fence the perimeter of the lot using thick hallow blocks 6 inches wide, would you say that the lot is now reduced by 6 inches all around? Of course not. The size of the lot is unchanged, although the livable (or useable) space certainly changed. Unit area and livable space are two different things, and the spec of a condo unit insofar it is defined in the CTBS (Contract to Buy and Sell) follows the unit measurement, not the livable space.

The onus rest on a prospective buyer to take into account any structural walls and post within a unit, as it certainly reduces the livable space and yet included in the unit area of measurement.

thanks for the reply... i think that the condo act should be updated. condos during the time of marcos were not as high as most condos which are being contructed today thus a bigger set of columns are important for lower floors. this would really make the livable area a lot smaller than promised. lugi ung mga nsa lower floor kesa sa upper floors.

[Coniocondo]

Guys, do you know of any house and lot projects in the Philippines?

[Ady001]

There's a lot man... no pun intended

I think you can find a sizable many by just browsing sulit.com.ph.

[AmbutLang]

Originally Posted by 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.

Here in New York a rental above 30% of the net monthly is considered excessive by the New York State housing Authority. NYC has a waiting list of at least 5 years because the rent is base of the renter 30% automatic deducted from the pay regardless of their income with free electricity and gas, except when it reach the $70K gross annual pay because this bracket is considered above middle income or not in hardship and can afford pricey units. The renters are required to submit their annual income pay stabs and will be match with the IRS and State taxes as reported in their income taxes. Thus prevent cheaters. Cheaters will be fined or jailed

[Ady001]

I'm not really the expert to say to that sir but I am merely judging from what I consider as "sagad" in the sense.

Let's face it, the real estate market is booming and constructions are all over the metro. While there is a reported "housing backlog" most people cannot afford these high-end condominium units and reported claims of "7,000 per month" units are nothing more than shoebox-sized studio units that cannot accommodate a minimum family of 3. Low-priced housing unfortunately, is located in far-off areas like Bulacan/Cavite/Laguna which is not practical for some families.

Some then would resort to renting.

There are still "rooms for rent" that are reasonable in metro manila and these provide the barest, but not always the best type of dwelling. These range from 3,000 to 10,000 which is in some ways still very economical for some families. Thus, renting being a "safe financial instruments" is used as one of the reasons why some should get a condo. They sell it to foreigners since they cannot own land. They sell it to OFWs as ROI is attractive and red tape is cut. They sell it to just about anyone for the basis of location and that rental yields are attractive, and by theory they should pull us in.

However, most of these rental units are also expensive in their own right. Next is that while there are ways to sell it like condo-sharing, these are often between friends and several people who share the same sentiment of being together just because the unit is close to their location. And we're just talking about the rent. What about the utilities?

In the end, the housing backlog remains. Some renters are left with no choice but to go to rooms rented inexpensively by longtime dwellers or succumb to long trips to the outskirts in Manila which most are not too keen on.

I just wish the best for the condo business in the city.

[jpdm]

Originally Posted by Ady001

I'm not really the expert to say to that sir but I am merely judging from what I consider as "sagad" in the sense.

Let's face it, the real estate market is booming and constructions are all over the metro. While there is a reported "housing backlog" most people cannot afford these high-end condominium units and reported claims of "7,000 per month" units are nothing more than shoebox-sized studio units that cannot accommodate a minimum family of 3. Low-priced housing unfortunately, is located in far-off areas like Bulacan/Cavite/Laguna which is not practical for some families.

Some then would resort to renting.

.

Thats why the government should either provide mass housing in the Metro or connect all of these mass housing projects located in far off communities with adequate mass public transport like rapid trains.

[Ady001]

Maganda din tong commieblocks ah... we just had a lively discussion about that in one thread here:

http://www.skyscrapercity.com/forumdisplay.php?f=477

[hugodiekonig]

article and photos from: http://theprojectreview.blogspot.com...esidences.html

There's a beautiful and new place to visit in the North : the Thunderbird Resorts, at Poro Point.
The Thunderbird Resorts is a 65 hectare beachfront development at the Poro Point Special Economic and Freeport Zone in San Fernando City, La Union in the North. Poro Point used to be the location of the US Military Base-Wallace Air Station. The resort boasts of a 5-star hotel, a beautiful infinity pool by the sea, a spa and wellness center, fine dining restaurants, a casino and a beautiful creamy white-sand beach. The resort complex is perched on a cliff overlooking the China Sea. The resort buildings' architecture are Greek and Mediterranean inspired which makes it stand-out in its location by the sea. This resort development is definitely a big tourism boost in the Ilocos region.

Incorporated in the resort and hotel development are the Point Residences, a residential village (where lots and villas are being sold) and the Thunderbird Residences, a condotel. The Thunderbird Residences Condotel is being offered as an income generating investment package.

The Thunderbird Residences privately-owned condotel units will be pooled together as part of the hotel managed properties and whatever income that is generated from the renting out of a condotel unit will be shared by the two parties (i.e unit owner and hotel management). On income sharing, seventy(70) percent goes to the condotel unit owner and thirty(30) percent goes to the hotel management. Even if the unit is not rented out, a condotel unit owner still gets an income from the use of the common areas facilities. It seems to be a very good investment indeed.

I hope that more developments of this type will sprout in the northern part of the Philippines. Having visited many provinces of the country, comparably, Ilocos ( Region 1) is one of the most scenic and historical region in the country. Add to that the hospitable and friendly people of the North, this new resort development will indeed be a beautiful place to visit, live and invest in.

Athena Model House

Photo by: thenoblewanderer
see blog at: http://thenoblewanderer.wordpress.co...ts-poro-point/


Latest Status


source

[hugodiekonig]

source: http://www.camellahomes.net/communit...ndon/index.php

[hugodiekonig]

Camella, the subsidiary catering to the mid-market segment of Vista Land & Lifescapes, is offerings its latest development in the most business-friendly city in the North.

Camella Candon, starting out as an 11-hectare masterplanned development, is expected to expand further in the suburbs of Candon, it is on the average five to eight minutes away from churches, the marketplace, schools, shopping centers, transport stations, and business firms.

Keeping to Ilocos Sur’s solid Filipino-Spanish heritage, every home in Camella Candon breathes of this tradition with a touch of modernity. The tasteful interiors reflect Camella’s 37 years of experience in nurturing families and building communities.

source

[todjikid]

Does it mean that it is a bit scary to buy metro manila properties?

http://newsinfo.inquirer.net/169895/...to-land-titles

Registered owners of more than half of the land in Metro Manila may lose their properties as a result of a recent Supreme Court ruling that the “sale certificates” of former friar lands that lacked the signatures of prewar government officials should be deemed void, a senior justice of the court said.
In a 23-page dissenting opinion, Senior Associate Justice Antonio Carpio said the Supreme Court’s March 6 decision in the ownership dispute involving the Manotoks and Barques over the P4-billion Piedad Estate in Quezon City would render millions of residents homeless.
“This is a disaster waiting to happen—a blow to the integrity of our Torrens system [of titles] and the stability of land titles in this country,” Carpio said.
“Hundreds of thousands, if not millions, of landowners would surely be dispossessed of their lands in these areas,” he said.
With a split vote of 8-7, the tribunal upheld its Aug. 24, 2010, decision that awarded the ownership of the 1,282-hectare of lands to the national government.
Chief Justice Renato Corona, who is facing impeachment in the Senate, agreed with the majority ruling written by Associate Justice Martin Villarama Jr.
Corona votes twice
Curiously, Corona virtually participated twice in the decision as he also voted with the winning bloc on behalf of Associate Justice Mariano del Castillo, who was supposed to be on sick leave when the court voted on the matter.

[Narnian_King]

Originally Posted by todjikid

Does it mean that it is a bit scary to buy metro manila properties?

http://newsinfo.inquirer.net/169895/...to-land-titles

Registered owners of more than half of the land in Metro Manila may lose their properties as a result of a recent Supreme Court ruling that the “sale certificates” of former friar lands that lacked the signatures of prewar government officials should be deemed void, a senior justice of the court said.
In a 23-page dissenting opinion, Senior Associate Justice Antonio Carpio said the Supreme Court’s March 6 decision in the ownership dispute involving the Manotoks and Barques over the P4-billion Piedad Estate in Quezon City would render millions of residents homeless.
“This is a disaster waiting to happen—a blow to the integrity of our Torrens system [of titles] and the stability of land titles in this country,” Carpio said.
“Hundreds of thousands, if not millions, of landowners would surely be dispossessed of their lands in these areas,” he said.
With a split vote of 8-7, the tribunal upheld its Aug. 24, 2010, decision that awarded the ownership of the 1,282-hectare of lands to the national government.
Chief Justice Renato Corona, who is facing impeachment in the Senate, agreed with the majority ruling written by Associate Justice Martin Villarama Jr.
Corona votes twice
Curiously, Corona virtually participated twice in the decision as he also voted with the winning bloc on behalf of Associate Justice Mariano del Castillo, who was supposed to be on sick leave when the court voted on the matter.

With a split vote of 8-7, the tribunal upheld its Aug. 24, 2010, decision that awarded the ownership of the 1,282-hectare of lands to the national government.

Chief Justice Renato Corona, who is facing impeachment in the Senate, agreed with the majority ruling written by Associate Justice Martin Villarama Jr.

Wow!! Finally Mapapasakamay na ng mga nakatira sa disputed parcel of lands sa mga tamang may-ari at hindi sa mga manotok

Ipapamahagi yan ng NHA sa mga may-ari ng bahay na na pinag-aawayan dahil inaangkin ng mga manotok

[todjikid]

i think the issue is the attack on the torrens system, specifically on "friar lands". The SC basically requires the deed of conveyance from the manotok and a couple of signatures. Carpio's fear is that all lands that were previously owned by the friar whose deed of conveyance was lost or have gone missing, will be under scrutiny.

[jpdm]

Originally Posted by Ady001

Maganda din tong commieblocks ah... we just had a lively discussion about that in one thread here:

http://www.skyscrapercity.com/forumdisplay.php?f=477

Far better than what we have here like the Vitas, Tondo housing. Sana ganyan ang government housing sa Pinas. Instead of the government wasting money on ghost projects, why not build housing projects, strictly manage it and compel beneficiaries to follow strict terms imposed by the government ( payment of amortization, house rules like cleanliness etc). Karamihan kasi sa mga informal settlers binababoy ang government housing projects, hindi nagbabayad ng amortization. Gusto lagi libre ayaw magsipagtrabaho dami pang bisyo.

[Ady001]

I think we need to have stringent laws concerning that kind of ownership.

BLISS in Pag-Asa would've been a good case study for this.

[jpdm]

Originally Posted by Ady001

I think we need to have stringent laws concerning that kind of ownership.

BLISS in Pag-Asa would've been a good case study for this.

Yes, we should. So that government housing projects should not turned into another s#it hole by some of our irresponsible informal settlers.

Personally nadala ako when a Gawad Kalinga project that we supported was received by an ungrateful community. Nung una lang ok, eventually pinakita na ang tunay na kulay ng mga beneficiaries. Mga batugan o tamad o walang sariling sikap at walang malasakit sa proyekto ang mga tao. Puro hingi at libre gusto

[Ady001]

I think we need to have categories for housing. If we need tenement style housing, we need to classify which needs which. For example, families with incomes less than 150,000 a year should be qualified to at least a one bedroom bare apartment with yearly appraisals. Those who cannot pay their rent or upkeep should immediately be penalized. Of course probable reasons should be provided. Yung mga matitigas ang ulo talaga at batugan, dapat daanin sa dahas and throw them out of the property and give them a 5-7 year blacklist period.

[Coniocondo]

Originally Posted by Ady001

I think we need to have categories for housing.

Yes what we need here in this forum is house and lots for the middle class, since this is the target of SSC. Less priority to tenements unless you define Hyatt and Shang as tenement condos as well.

Let's put them one by one. I've seen many non-skyscrapercity threads already (e.g., mind museum, maynilad bldg, moa, etc.) so non-skyscrapers are allowed by the mods.

This will be good to all, buyers will have more choice, sellers will have more projects to sell. It will make this board busier and have more traffic, knowledge-sharing.

[todjikid]

wow, some commie blocks look better than a lot of projects under construction. Not gonna name names baka may mag-react.