Real Estate and Housing Industry

[Coniocondo]

Originally Posted by hugodiekonig

By: Tessa R. Salazar
Philippine Daily Inquirer
11:39 pm | Friday, June 8th, 2012


source: http://business.inquirer.net/64015/s...ed-with-villas

I'm very interested in beachfront properties. Want to own one someday. Do post similar ones you find. Thanks.

[hugodiekonig]

Originally Posted by Ady001

Mahal pa din I'd rather buy a lot then magpatayo na lang ng bahay, tapos ipapaunti-unti na lang.

low cost housing i guess ay hindi mas mamahal pa sa P4 million. Sa 4 million na iyon, pwede na ang "mini-mansion" including yung lote kapag sa probinsiya ipapatayo.

[hugodiekonig]

Originally Posted by Ady001

Greek inspired... lugmok ang Greece... nagbabadya

peace hugo hehehehe

hahahaha utangero naman kasi ang Greece. Ang laki ng inutang nila noong Olympics. they spent money (around $17B) more than they can produce ($11B)

puros from Metro Manila and Baguio ang nag-avail ng mga lote sa Thunderbird.

Sa La Union pala, hetong Thunderbird ang pinakasosyal na real estate rito. the rest are low-cost housing na. wala pa rito yung medyo lelevel between luxury and simplicity at expensive sa low-cost gaya ng Camella

[hugodiekonig]

Originally Posted by Coniocondo

I'm very interested in beachfront properties. Want to own one someday. Do post similar ones you find. Thanks.

will do .

[calaguyo]

Originally Posted by Ady001

Mahal pa din I'd rather buy a lot then magpatayo na lang ng bahay, tapos ipapaunti-unti na lang.

I am also thinking of the same.

Napapansin ko lately, may mga recent private housing developments na lote lang binibenta nila. Question ko, what if I buy lot only, dapat ba yung design ng house na ipapagawa ko eh same nung typical designs ng house nila?

[hugodiekonig]

June 11, 2012, 4:26pm

Thunderbird Resorts Poro Point (TRPP) was a major sponsor of the Sillag Festival of Lights, playing host and venue to its key activities last April. The Thunderbird Boardwalk was the venue of the Lantern Fluvial Parade, performance by the Philippine Marine Band, releasing of the Hope Lanterns, rock concert and Pyromusical Show last April 28.

The following day marked the groundbreaking ceremony of TRPP’s three-storey Thunderbird Condotel. Thunderbird is set to build 51 additional rooms in the Condotel, to add to the existing 41 rooms at TRPP, with a total investmentof R200 million for the expansion project. To date, TRPP has pumped in a total of R1.2-B investments in the country since it started five years ago.

Clients who will purchase a condotel unit will have the opportunity to enroll their units to the rental program, which will enable them to enjoy while earning significant returns on the rentals.Within this program, owners turn over their unit to Thunderbird so that Thunderbird can manage the unit as a hotel room and allow owners to relax while earning.

The April 29 groundbreaking had the following key officials (see photo) in attendance: (from left) Wilson Tieng, corporate partner of Thunderbird Resorts; Felicito Payumo, BCDA chairman; Fausto Liriano, TRPP operations director for construction; David Chong, TRPP project manager for real estate; Shaun Thomsen, Thunderbird Resorts chief gaming officer; Arnel Casanova, BCDA president and CEO; Florante Gerdan, PPMC president and CEO; and Yves Remondeulaz, TRPP hotel general manager.

Meanwhile, Thunderbird Residences continues to expand, with the plan to build approximately 140 more villas or lifestyle beach homes in six to 10 years.Thunderbird Residences was launched last October 2010, and occupies 15 hectares within the total 65 hectare property of TRPP. Thunderbird Residences launched only 80 lots for sale and is currently 75 percent sold. The owners of the lots are also entitled to free playing rights to the Cliffs Golf and Beach Club. A Thunderbird residence is the perfect vacation or retirement place, as included in its expansion plans is a three-hectare park and wellness area, and a commercial area.

Other ongoing TRPP projects include the expansion of the Casino, whereby 1,100 square meters more of floor space is being added to accommodate more machines and gaming tables, a bigger entertainment area and bar, another kitchen, and to which the VIP rooms will be relocated; and the continued expansion of the resort’s all-weather golf course.

source

[3cr]

Filipinos Abroad Buying Manila Condos Buoy Peso: Southeast Asia
Bloomberg Business Week
http://www.businessweek.com/news/201...theast-asia#p1

Filipinos investing in the local property market with money earned overseas helped make the peso Asia’s best-performing currency of 2012, even as a global economic slump sapped demand for riskier assets.

Euliver Dizon, a web designer in the U.S., is scouting for a home in Manila, praising President Benigno Aquino for improving the economy. Rommel Adre, a software developer who worked abroad from 2000 to 2011, bought a home in the capital and some properties to rent. Aileen Respicio, a former domestic helper, opened a beach resort with her Scottish husband six years ago and is now buying more land.

The peso has gained 3.7 percent this year versus the dollar including interest. Capital inflows aid Aquino’s drive to win an investment-grade rating, which would allow the Philippines to attract pension money needed to build roads, bridges and airports. Central bank data shows remittances from overseas workers rose 5.4 percent in the first quarter from a year earlier to $4.8 billion, accounting for 10 percent of the economy. They don’t detail use of funds.

“Aquino has been working to remove corruption and other things that used to make investors reluctant to put money into the country,” Toshifumi Sugimoto, president and chief investment officer in Tokyo at Capital Asset Management Co., which runs a $16 million Philippine stock-dedicated fund, said in an interview on June 7. “The country has been moving quite fast and, because of strong growth and solid demand, there are many new properties going up.”

Asset Bubbles

The peso rose as much as 0.5 percent to a one-month high of 42.43 per dollar after exports rose 7.6 percent in April from a year earlier, exceeding the estimate for a 0.5 percent gain in a Bloomberg News survey. The central bank predicts remittances will reach a record $21 billion this year and is due to report April figures tomorrow. They are growing faster than the 5 percent target, supporting the peso, Finance Secretary Cesar Purisima said. He said there is no evidence of hot money driving property prices higher.

“We are monitoring carefully the situation to make sure we don’t create problems down the road for us in terms of asset bubbles,” Purisima said in a June 12 interview in New York. “We are very far from the situation.”

Overseas Filipinos account for about 30 percent of residential sales, as many workers have already satisfied the food and clothing needs of their families, said Alex Pomento, head of research at Macquarie Group’s Manila unit. About 100,000 housing units have been added per year since Aquino took office in 2010, up from about 60,000 in 2007, he said.

Returnees Targeted

Property firms are targeting returning Filipinos, known as balikbayan. Ayala Land Inc. (ALI), the nation’s largest developer, has been holding project exhibits in places such as Milpitas, California and Washington D.C. as well as three Canadian cities to attract expatriates with the slogan “we’ll bring you home.” Filipino-American actor Sam Milby sang at the opening of the company’s first U.S. office in Milpitas on April 28.

Between 2005 through first half of 2011, prices of two- bedroom condominiums rose at a compound annual growth rates of between 5.5 percent to 16 percent for selected projects located in five areas in Metro Manila, according to Richard Laneda, analyst at CitisecOnline.com.ph.

“I’d like to have my own home in the Philippines,” Dizon, 37, said in a June 6 interview. “It’s a good investment considering the positive developments in the economy.”

The peso may weaken as Europe’s debt crisis hurts Asia’s export outlook, according to Jonathan Ravelas, chief market strategist at BDO Unibank Inc. (BDO) in Manila.

“The peso is resilient but not immune to this global volatility,” he said.

Faster Growth

So far the economy is outperforming regional peers. First- quarter growth of 6.4 percent was the most among Southeast Asia’s five biggest economies as Aquino increased state spending to a record this year.

The government reported its second monthly budget surplus of 2012 in April and aims to narrow the annual shortfall to 2 percent of gross domestic product by 2013 from 2.6 percent this year. Collections made by the Bureau of Internal Revenue rose 14 percent from January to April, surpassing the 12 percent increase in state spending, official data showed on May 21.

Moody’s Investors Service upgraded the nation’s rating outlook in May to positive, citing improving debt levels. That followed a similar move by Standard & Poor’s in December. Both companies rank the $200 billion economy at the second-highest junk level. Fitch Ratings raised its assessment to one step below investment grade last year.

Budget Progress

Borrowing costs for the Philippines are now lower than higher-ranked Spain, which was downgraded by Moody’s yesterday by three steps to Baa3, the lowest investment grade. The Philippines’ 15 percent peso-denominated government bonds due March 2022 yielded 5.99 percent today, compared with 6.79 percent for Spain’s 5.85 percent bonds due 2022.

The cost of protecting Philippine five-year debt against non-payment has fallen 19 basis points to 173 basis points this year, while that for investment-grade Indonesia, slid nine basis points to 199, according to CMA, which is owned by CME Group Inc. The swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a nation or company fail to adhere to its debt agreements.

Aquino unveiled a $16 billion infrastructure program when he took power, including elevated highways that will link expressways to the north and south of Manila. He succeeded in winning Senate approval for the ouster of Renato Corona, the country’s top judge, for illegally concealing his wealth.

Political Stability

The Philippines climbed in last year’s Transparency International Corruption Perceptions Index to 129th place from 141th in 2008, below Thailand at 80th and Indonesia at 100th, according to the Berlin-based watchdog’s website.

The Philippines is on track to win credit upgrades in two or three years as “broad political stability” allows fiscal reforms, said Chia-Liang Lian, Singapore-based head of investment management for Asia excluding Japan at Western Asset Management Co., which oversees $443 billion of assets globally.

“The potential for the Philippines to unshackle itself from its sub-par growth trajectory has never been stronger,” said Lian, who holds more peso bonds than the benchmark used to track performance. “Policy makers should seize the opportunity to do the right thing. What this current administration has been successful at is the revenue side of the equation.”

Information technology and business-process outsourcing have also driven inflows, said Finance Secretary Purisima. Revenue rose 24 percent to $11 billion in 2011, the Business Processing Association of the Philippines said on its website. Purisima estimates it will grow to $24 billion by 2016.

[3cr]

Expat population spurs demand for posh condos
By: Tessa R. Salazar
Philippine Daily Inquirer
June 15th, 2012
http://business.inquirer.net/65303/e...or-posh-condos


Not every story behind luxury condominiums is about a controversial, high-ranking government official. Amid all the drama the past few months brought about by the impeachment of the Chief Justice, the luxury residential market has been brought to public attention.

But the overlooked fact is that this market has become the sunshine sector of the real estate industry for some time now. Looking at the robust growth more closely, one can see that the expatriate population in the Philippines has spurred the demand for luxury condominium units.

According to property consultant CB Richard Ellis’ First Quarter 2012 MarketView Metro Manila, the expatriate population is still growing, as there has been no letup in the entry and expansion of outsourcing and offshoring companies.

“The expansion of multinational companies due to the favorable macroeconomic situation is likewise contributing to the inflow of expatriates. Because of the consistent growth in the expatriate population, the demand for housing remains strong,” the report said.

The Bureau of Immigration’s alien registration division’s statement in March indicates that more than 65,155 foreign nationals residing in the Philippines filed their annual reports this year (higher by 5,123, or 8.53 percent, than the number that filed last year; the government earned more than P19.5 million in fees paid by aliens who filed their reports this year).

The report added that while investor demand has been increasing, transactions continue to be concentrated on leases as supply of luxury condominiums remains tight.

“In addition, luxury condominiums are facing strong competition from newer Grade A condominiums. Demand for units at the Pacific Plaza Towers was also affected by the adjacent construction, which is blocking the view of several of its units. Capital values of luxury condominiums, however, were maintained in the first quarter of the year.”

Newer Grade A buildings and newly renovated houses are seen by expatriates as an alternative to luxury condominiums. Because of leasing competition, rents were maintained in the first quarter of 2012. Unit owners have also been wary of increasing rents as they are aware of the limits on expatriate housing budgets.

Luxury residential condominium statistics disclosed in the report showed that the monthly rental rates of the Makati CBD range from P240,000 to P250,000; the Rockwell Center P210,000 to P230,000 and Bonifacio Global City P230,000 to P250,000.

Luxury residential houses statistics showed Forbes Park with rental rates of P350,000 to P500,000; Dasmariñas Village with P300,000 to P400,000; Urdaneta Village with P250,000 to P300,000; and Bel Air Village with P150,000 to P250,000. CBRE added that recent developments have prompted the organization to defer the use of size as a criterion in measuring lease rates for houses in these upscale communities. Extensive renovations done on a number of smaller houses in these communities have resulted in some of them fetching higher lease rates compared to their bigger but older counterparts.

The chart on upscale condominium statistics showed 40-sq-m to 250-sq-m units (ranging from one to three bedrooms) in Legaspi Village fetching monthly lease rates of P60,000 to P220,000; Salcedo Village’s 110-sq-m to 250-sq-m units (two to three bedrooms) have lease ranges of P115,000 to P160,000.

The Apartment Ridge ranging from 77-sq-m to 285-sq-m units (one to three bedrooms) have lease ranges of P40,000 to P150,000; Rockwell Center with 75-sq-m to 247-sq-m units (one to three bedrooms) are leased for P70,000 to P250,000. Bonifacio Global City’s 50-sq-m to 306-sq-m units (one to three bedrooms) have lease ranges of P70,000 to P220,000.

[Ady001]

Originally Posted by calaguyo

I am also thinking of the same.

Napapansin ko lately, may mga recent private housing developments na lote lang binibenta nila. Question ko, what if I buy lot only, dapat ba yung design ng house na ipapagawa ko eh same nung typical designs ng house nila?

I think there are some developments @Calaguyo that would somehow restrict the price of the house you're building. Abrio for one requires that you put in 10 million pesos daw eh, that's what @Mercato once told us.

[InfinitiFX45]

More property landmarks to dot Ph

By: Tessa R. Salazar | Philippine Daily Inquirer | Friday | June 15th, 2012 | 10:47 pm

SM Prime Holdings’ 42nd mall

What do Cebu Property Ventures and Development Inc., SM Development Corp., Filinvest Development Corp., Belle Corp. and Tiger Resorts, Leisure and Entertainment have in common?

They are never still, as all of them are putting up new buildings to accommodate offices, malls, hotels and entertainment complexes in various areas in the country.

Jones Lang LaSalle Leechiu’s Philippine Property Market Monitor in February 2012 enumerated the construction of a new IT building in Cebu City by Cebu Property Ventures and Development, a new office building by SMDC, a 10-story building from Filinvest, the 7-story SM Olongapo and a new Filinvest retail complex in Cebu City.

Expansion

The JLL monitor also singled out the expansion of Belle Corp. and Solaire Manila at the Pagcor Entertainment City at the Manila Bay Reclamation area. Tiger Resorts, Leisure and Entertainment Inc.’s recently launched $2-billion entertainment complex, meanwhile, has been called Manila Bay Resorts.

Construction of another IT building at the Cebu IT Park in Cebu City has started. The 12-story eBloc 3, with a total of 15,764 sq m of leasable space, is a project of Cebu Property Ventures and Development and Asian i-Office Properties.

SMDC is currently studying a possible venture to develop office buildings catering to business processing outsourcing companies.

The JLL property market monitor also mentioned Filinvest’s winning the bid for the development of a 10-story building on the property once occupied by the Bagong Buhay Rehabilitation Center and the Cebu City Treatment and Rehabilitation Center. The development would then be under a build-operate-transfer agreement with the Cebu City government.

Retail updates

A $2 BILLION entertainment complex will rise in the Pagcor Entertainment City.
The 7-story, 40,863-sq-m SM Olongapo mall—to cater to customers from Zambales, Bataan and other nearby provinces—was recently opened. This is SM Prime Holdings’ 42nd mall.

Filinvest is investing at least P7 billion in two retail establishments—the existing Festival Mall in Alabang and an upcoming retail complex in Cebu City. The JLL Property Market Monitor said the Festival Mall will have a new wing. The construction will increase the mall’s leasable area by around 50 percent.

The February 2012 JLL monitor also reported, “Grocery chain Puregold Price Club Inc. is looking to merge with S&R, an upscale membership supermarket.”

Lease additional land

A plan to lease an additional land in the Pagcor Entertainment City at the Manila Bay reclamation area by Belle Corp. and Bloomberry Resorts has also been revealed. The JLL February report said the two developers are in talks with the government. Plans are afoot for the expansion of their ongoing projects Belle Grande Manila Bay for Belle Corp. and Solaire Manila for Bloomberry Resorts.

Tiger Resorts, Leisure and Entertainment, a subsidiary of Japan-based Universal Entertainment Corp., has officially launched its $2-billion entertainment complex to be called Manila Bay Resorts. The project will include luxury hotels, a high-end shopping mall and a casino. It will rise in the Pagcor Entertainment City.

Source: http://business.inquirer.net/65299/m...arks-to-dot-ph

[amigo32]

Originally Posted by Ady001

I think there are some developments @Calaguyo that would somehow restrict the price of the house you're building. Abrio for one requires that you put in 10 million pesos daw eh, that's what @Mercato once told us.

hindi kasi puede maglagay ng low cost housing sa ganyang lugar
lalo na kung bahay kubo ilalagay mo, dapat kung pang sobrang yaman ang lugar pang sobrang yaman din ang mga bahay

[3cr]

BEST YEAR IN 2 DECADES; P472B pins property boom
Manila Times
http://www.malaya.com.ph/index.php/b...-property-boom

Pumped with P472 billion bank loans, property developers are enjoying the best year in two decades with the happy result of the Philippines now being assessed as a country of homeowners not only renters.

The loans made in the past year ending March went into the construction of middle and low middle high rise apartments that continue to dot the landscape in Quezon City, Makati, Mandaluyong and Manila.

Other favorable factors are falling into place, cheap lending rates encourage homebuyers to choose from a wide range of available units –– all competitively priced.

Rick Santos, chief executive officer and chairman of CBRE Philippines, said in a briefing that Filipinos are benefiting from a “democratized” housing industry -– fed by a single-digit mortgage rate, a boon for buyers.

“The single-digit mortgage rate has democratized the housing ownership in the Philippines allowing Filipinos to buy rather than just being renters for life,” Santos said.

The low financing scheme prevailing nowadays was witnessed in the United States after the Second World War.

CBRE said that in most cases, monthly rental rates for a typical household dwelling in Metro Manila are now at par with mortgages for house and lot or residential condominium units.

CBRE said demand remains strong due to the increasing affordability of funds for housing acquisitions.

“The liquidity in the market enables developers to provide more affordable payment terms to buyers. Low cost of borrowing are likewise spurring development expansions in the residential/ housing industry,” CBRE said in a report.

Victor Asuncion, executive director, global research and consultancy of CBRE, said the residential market is not slowing any time soon but it “is still location, location, location.”

A lot of developers including Ayala Land Inc. and Robinson’s Land are into heavy landbanking to ensure that they have enough supply to sustain growth.

Asuncion said a lot of the units are concentrated in Quezon Cty where a lot of business action is happening, such as in Eastwood, the UP area and even along EDSA, where high-density condo buildings are sprouting along the rail transit line for accessibility.

CBRE said that between 2016 and 2023, about 143,123 condominium units would come on stream in Metro Manila alone with more than two-thirds located in Quezon Cty, Makati, Mandaluyong and Manila, where the business process outsourcing firms are also rising.

Asuncion said developers are also shifting from the high-end residential towards the affordable segment.

“The demand for affordable condominium unit continues to grow year on year. The reason most property developers are shifting to the development of reasonably priced condominium units around the Metro is to cater to the growing population who are empowered by the economy to own their dwelling place,” Santos said.

“The Philippines is no longer the sick man of Asia, it is now the sweet spot for investors. We are now experiencing the best real estate market in the Philippines in the last 20 years.”

All eyes are now moving from BRIC (Brazil, Russia, India China) economies to TIP (Turkey, Indonesia, Philippines) Economies.

"The Philippines is becoming the lifeboat for many US and European companies that need to outsource in order for their businesses to survive and actually preserve jobs back in the US and Europe.”

Pre-leasing is back! The office sector goes from strength to strength, with a surge of pre-leasing commitments in the central business districts.

The Philippine property market is turning green into gold.

“Green buildings are future proof investments! As the outsourcing and offshoring sector gains strength in the country, we see more occupiers and developers prioritizing flight to quality, with green buildings becoming more the norm than the exception.”

[3cr]

Bright prospects seen for PH office market
Philippine Daily Inquirer
http://business.inquirer.net/66443/b...-office-market

Metro Manila continues to be the most cost-effective office destination, outperforming 18 other central business districts, according to real estate services and advisory firm CB Richard Ellis (CBRE) Philippines.

As economies in the West tighten, CBRE pointed out that the strong demand for alternative office locations has pointed multinational companies toward Asia and has opened opportunities for the Philippines.

“The Philippines is becoming the lifeboat for many US and European companies that need to outsource in order for their businesses to survive and actually preserve jobs back in the US and Europe,” noted CBRE chairman and CEO Rick Santos. “All eyes are now moving from BRIC [Brazil, Russia, India, China] economies to TIP [Turkey, Indonesia, Philippines] economies.”

Based on data provided by CBRE, the average office lease rates in Metro Manila stood at $22 per square foot a year. In contrast, the top six countries that have the highest rates were Hong Kong-Core Central with $200; Beijing CBD with $173; Tokyo, $162; Shanghai-Puxi, $121; and Mumbai-BKC and Singapore, $117.

On a local note, however, rental rates in Metro Manila CBDs, namely, Makati, Fort Bonifacio, Ortigas, Alabang and Quezon City, have noticeably increased in the first quarter of 2012 as against the previous year’s levels.

These rate increases, CBRE noted, could be attributed to tight office space supply and strong pre-leasing demand.

“Pre-leasing is back. The office sector goes from strength to strength, with a surge of pre-leasing commitments in the central business districts,” Santos said. He noted that these pre-commitments were being sustained by several factors, including cost anticipation, securing space, expansion and consolidation.

According to CBRE, office space demand was catching up with supply, particularly in the major business districts where office space requirements were on a steady uptake with no signs of a slowdown. Average occupancy rates during the first quarter of this year hovered at 96 percent.

CBRE explained that the sustained expansion of the outsourcing and off-shoring industries, as well as the limited tenant turnover, continued to put pressure on the already tight supply.

Although new supply of traditional and BPO office space was scheduled to come online in the second half of this year, it was not expected to do much to alleviate the situation, the firm noted.

As it is, of the 293,000 square meters of anticipated new supply, about 232,000 square meters have been pre-committed. The limited supply continued to put an upward pressure on office lease rates, CBRE said.

“We urge developers to push through with their planned projects and to avoid any delays and to capture all potential investments in the country. Developers with multiple office projects in their pipeline have the advantage over other developers as these provide confidence to lessee’s expansion projections,” CBRE said.

“Office market will continue to be active and it is guaranteed to be at its peak in the next two years,” it added

[3cr]

High Street South among the best in AsPac
Malaya
http://www.malaya.com.ph/index.php/s...-best-in-aspac

Ayala Land’s subsidiary, Alveo Land, recently announced that High Street South -- its newest, most iconic mixed-use development in Bonifacio Global City (BGC) -- won the Best Development Marketing in Asia-Pacific in this year’s International Property Awards held in Kuala Lumpur, Malaysia, thus joining the best developments, architecture, and interior design concepts across the region.

“Our winning marketing campaign is an expression of our passionate vision for High Street South. The campaign is tightly supported by the masterplan both springing from the overall vision of the district,” said Jennylle Tupaz, Project Development Group head of Alveo Land, adding that High Street South will now be carrying with it the International Property Award certification, a world-renowned mark of excellence.”

The awards from the Asia-Pacific region, combined with the other regional awards’ programs for Arabia, Europe, Africa and the Americas, form the globally renowned International Property Awards (IPA). Now on its 19th year, IPA is the world’s most prestigious award-giving body residential and commercial property professionals from around the globe.

High Street South is a pioneering Alveo Land initiative benchmarked on the most prominent cities across the globe.

“High Street South represents Alveo Land’s genuine commitment to create the best masterplanned urban address in Metro Manila. It will offer modern conveniences and a lively street experience that complements BGC’s thoughtfully-designed urban landscape through

a unique streetscape dotted with pedestrian-friendly infrastructures,” Tupaz said.

The district will exude a lively, cosmopolitan vibe through distinct and evolving architectural designs that radiate a memorable sense of place, thus delighting urbanites with an inviting and multifaceted city experience.

High Street South is a multi-faceted community complete with commercial; leisure; and institutional components such as art venues, theaters, and other civic spaces.

It is a pedestrian-friendly district not only through its delightful architectural and landscape elements, but also through its exciting retail mix ranging from community services to global brands.

Taking inspiration from Ayala Land’s unparalleled standards in property development, Alveo Land is now pioneering High Street South as an innovative district that fuses the concepts of a vibrant, modern, and integrated lifestyle.

[Dr. Richard Espeno]

tanong ko lang , me hiwalay ba na bayad na association dues/monthly maintenance fee ang car par slot? Thanks

[3cr]

Opo Doc meron din monthly dues ang parking slot if you have one. Depending on how the project does it, the dues for the parking slot may be computed at the same cost multiplier amount as your unit. Some projects use a different cost multiplier amount for units and parking slots. Anyway best to check with your developer. Hope this helps.

[Dr. Richard Espeno]

Thanks 3Cr, yeah that helps

[tj_brewed]

No glut in high-end residential market: CBRE
ABS-CBNNews
By Cathy Rose A. Garcia, ABS-CBNnews.com
Posted at 06/23/2012 8:36 AM | Updated as of 06/23/2012 8:36 AM

MANILA, Philippines - Luxury residential condominium projects are popping up all over the metropolis, making some people wonder if there's too much supply.

But according to property consultant CBRE Philippines, there is no glut in the high-end residential market.

"In my opinion, a glut is where there's supply but no take-up... We don't see that slowing down anytime soon," Victor Asuncion, CBRE Philippines executive director for global research and consultancy, said in a recent briefing.

A view of Makati City's skyline / Courtesy of CBRE Philippines

Based on CBRE figures as of June 15, there are 143,123 upcoming residential condominium units in the next 8 years. Of the total amount, 27,351 units will be turned over this year, and 37,678 units in 2013.

"It's still location, location, location. There are some irrational developers who build anywhere and then complain that they don't sell and say there is a glut. You have to build where the market is and developers are positioning where the market is," Asuncion said.

More than two-thirds of the upcoming supply is located in Quezon City (24%), Makati (18%), Mandaluyong (15%) and Manila (12%).

CBRE sees the upcoming residential condo supply shifting to the price range of P80,000 to P100,000 (42.5%) and P40,000 to P80,000 (36.8%). The share of projects priced above P100,000 is going down.

More condos in provinces

CBRE also noted the rise of condominium developments in key provincial cities such as Iloilo, Cebu and Davao.

In Cebu, there is a strong demand for condominiums, with a take-up rate of 434 units a month. "Cebu is catering to the upscale market, mostly condos in Mactan and the central business district," Asuncion noted.

Asuncion noted that SM Development Corp., Ayala Land through Avida, Camelia Homes and Megaworld are all gearing for condominium developments in the provinces.

[3cr]

Int’l pressure mounts for more ‘green’ buildings in PH
Philippine Daily Inquirer
http://business.inquirer.net/66775/i...uildings-in-ph

The construction and real estate industries have been called to shape up for the environment. While industrialization has long cast a gray pall over the planet, wealthy nations have also long been made aware of the consequences and have been implementing “green” building initiatives with international green rating systems.

The Asia-Pacific region is catching up in terms of these initiatives. The scale, pace and general trend of recent construction efforts have been geared toward efficient commercial real estate that complies with green building codes.

CBRE Philippines cited that an increasing number of building owners are retrofitting and upgrading existing buildings to improve their energy efficiency and environmental performance, among other things.

Now, there’s mounting pressure from the international business community, especially from foreign investors, on local locators to offer more green buildings in the country.

Joannie Mitchell, director for CBRE Philippines’ global corporate services, announced to the press during the June 20 mid-year report that international companies trying to invest in the country are looking for more environmentally sustainable structures to hold offices in.

Amid the presence of five LEED (Leadership in Energy and Environment Design)-certified buildings in the Philippines and 58 more projects currently registered for LEED certification, more building tenants have been encouraging their landlords to retrofit their buildings to be environmentally sustainable. Some multinational tenants have required landlords to retrofit their buildings for the latter to be able to secure the contract to lease.

Increased demand

Mitchell added that there has been a business demand for more green buildings, and from the viewpoint of corporate social responsibility, a moral imperative to build environmentally sustainable structures.

CBRE Philippines maintained that the surge in the number of green buildings would support the robust growth of the country’s property sector market.

“Fortune 500 companies, multinational corporations, and even local firms now consider green initiatives as prerequisites in their day-to-day maintenance and operations,” said Rick Santos, CBRE Philippines chair and CEO. “Through our global networks and resources, we have been strengthening the drive toward sustainable development which, as pointed out in several studies, could also benefit not only developers and the environment but also end-users—tenants, employees and residents—in the long run.”

A local rating, a counterpart of the LEED certification, has already been established by the Philippine Green Building Council. Called Berde, the certification means Building for Ecologically Responsive Design Excellence.

Another local rating has been formulated by the Philippine Green Building Initiative. This ratings body is composed of professional organizations such as United Architects of the Philippines, Institute of Integrated Electrical Engineers of the Philippines, Philippine Institute of Interior Designers, Geological Society of the Philippines, Heritage Conservation Society, International Council of Monuments & Sites, the Philippine Society of Ventilating Air-conditioning & Refrigerating Engineers.

Rating system

LEED, meanwhile, is a widely used international green rating system developed by the US Green Building Council.

The five LEED certified buildings are the Asian Development Bank, Nuvali One Evotech, Shell Shared Services Office, and Texas Instruments in Baguio and Clark.

Among the 58 projects currently registered for LEED certification are The Zuellig Building in Makati; BTTC Centre in Greenhills (both precertified Gold under the Core & Shell Program); Megaworld 8 Campus Building in Bonifacio Global City (which is pursuing Silver Certification under the Core & Shell Program); and Wells Fargo Headquarters in Bonifacio Global City, which is seeking Gold Certification under the Commercial Interiors Program.

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Energy Efficiency Measures Required For New Locators, Buildings In Makati
Manila Bulletin
http://www.mb.com.ph/articles/363085...ings-in-makati

MANILA, Phililppines --- Economic zone locators and new building proponents in Makati will be required to build energy-efficient facilities otherwise they would not be allowed to construct as part of the measures being implemented to make them competitive in light of the high cost and short supply of power in the country.

Henry Schumacher, executive vice president of the European Chamber of Commerce, announced during the launch of the 3rd Philippine Energy Efficiency Forum (PEEF) 2012 slated on July 10 at the SMX Convention Center that they have to do this because efficiency measures have not yet really been practiced by companies religiously.

“We are barely scratching the surface,” said Schumacher when asked

if companies have already reached the 30 percent reduction in their power consumption through energy conservation.

He even admitted that ECCP, which is spearheading the PEEF, has members that are not compliant just like other companies.

According to Schumacher, the ECCP has an agreement with Philippine Economic Zone Authority director-general Lilia B. De Lima and Makati City Mayor Junjun Binay to strictly impose energy efficiency measures among companies operating in their respective areas.

For PEZA, Schumacher said that one of the requirements of their registered locators is to invest in energy efficiency measures otherwise they would not be allowed to construct.

“Locators in the zone are required to take energy efficiency seriously by reducing their energy consumption and prepare to the period when subsidy is no longer to be there once open access is implemented,” Schumacher said.

In the case of Makati, he said, they are working on crafting a city ordinance that would require new buildings in the city to conform with energy efficient programs.

In Makati alone, he said, there are 300 buildings that have not converted to energy efficiency measures.

“The idea is to work with Mayor Binay because it is hosting so many BPOs so they should insist that energy efficiency program on new buildings,” he said.

“Companies should invest in energy efficiency program because the payback period of three years in energy savings is no brainer,” Schumacher said but he noted that it is a long way to convince people.

He said that if new buildings continue to be energy efficient then companies will transfer to these buildings.

Energy cost of BPOs alone would account for 40 percent of their total cost but these would be reduced by a minimum of 20 percent if they invest in energy efficiency measures.

“This would make them more competitive,” Schumacher said.

ECCP president Hubert d’Aboville said the 3rd PEEF will discuss topics on energy efficiency technologies, energy policies and consumer education that need to be integrated across the electric power sector value chain to improve energy security, enhance global competitiveness and accelerate economic growth.

“We believe that by bringing together stakeholders across the power sector value chain, from the private, government and international sectors, we are able to do more as well as operate more efficiently with the limited resources we are using to promote energy efficiency throughout the country,” he said.