Euro Chocozone Buyer Posted April 27, 2017 Report Share Posted April 27, 2017 Another video - warning about the possible "toxic" nature of foreclosures... Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted May 7, 2017 Report Share Posted May 7, 2017 How to rent (out) your condo fast. One Spanish guy fired his real estate broker because they were too slow... So we are seeing more foreigners. Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted May 7, 2017 Report Share Posted May 7, 2017 The next video is about the mismatch in the student housing market. Apparently there are only 5695 unit versus a demand of 130K. Has anyone here looked into student housing??? Usually, and in most places, that gives you very high returns like 8 to 10pct per annum. Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted May 7, 2017 Report Share Posted May 7, 2017 Earn 20-25pct in the very low income housing segment. Maybe this opportunity is only available for Filipinos though http://www.kapandesalcoop.org/membership Maybe this is the same as what most Chinese are investing in, a kind of Wealth Management Product that gives a higher rate of return than the bank. (the investor) "They will have an about 20 to 25pct dividend yield in their investment" Link to comment Share on other sites More sharing options...
drbubb Posted May 8, 2017 Author Report Share Posted May 8, 2017 A 25% annual return is a classic "too good to be true" type investment IMHO But the problem of finding good tenants in PH is very real - especially now How to rent (out) your condo fast. One Spanish guy fired his real estate broker because they were too slow... So we are seeing more foreigners. The problems he experienced had little to do with the growing problem of Excess supply: ("The procedures take too much time, too much validation... The agent had to check with her boss to see if they would accept the Owners Rental asking price. She could not process the clients that the owner brought in himself. The agent wanted the commission, even when the onwer found the client...") Maybe We can share tips on good agents, as we find them. "Has anyone here looked into student housing???" Interesting, I was chatting yesterday (with MDS) about Ayala's new Dormitory project FLATS AMORSOLO(7,480sq.m)AMORSOLO ST. COR. DELA ROSA MAKATI CITY > ssc: http://www.skyscrapercity.com/showthread.php?t=1994288 (I had this conversation with "MDS" elsewhere - he reads this website, and has posted here): MDS : Ayala is building a dormitory on dela rosa.. It's not for pre-selling, only lease.They feel where the demand isDrB : If they are holding it, they must think it will be profitable. It will undercut some of the properties they selloffMDS:...I think the bull market is maturing. Investing in pre-selling is not attractive anymore given the sharp price increases, the long wait, the supply and the yields (after tax, fees etc) are unattractive for Pinoy setting. I have learned this also from W---, but the money lies in the properties which are under the radar of foreign investors, 10y old, in location where it floods 3-4x a year etc.. They come at sharp discounts. The rent is way cheaper then in all other new places and therefore easy to find tenants. Yields are >10%2.What surprises me.. Liquidity seems pretty bad.. We have been purchasing 2 studios this month RFO, Rush sales, one 15% gross yield and one 12% gross after negotiating.. And they have been sitting in the market for a few months.. We did the due diligence and hopefully we won't have bad surprises. Just surprised how long it took for those people to sell...DrB:"properties which are under the radar of foreign investors" Makes sense. Can you be any more specific of the kinds of opportunities you like?MDS:Found them on OLX, no broker involved so no broker fees, you just have to process everything yourself. There are many buildings which can be interesting.. Generally I like the ones of the early 2000s.. Just because that was near the through in the market, the early buyers bought really cheap and some are just happy to get out with the price they paid back then.. They made enough money over the years renting it. It's just very important to really look at the building well because some are very badly maintained and you don't want to end up paying for renovation.Dr B:Makes sense. If the seller bought cheap, they can sell cheap too. That is a serious matter - the erratic quality of building mgmt(he goes on to talk about a specific building, and so I will pick up the conversation on the BARGAINS thread): ===> http://www.greenenergyinvestors.com/index.php?showtopic=21400 Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted May 9, 2017 Report Share Posted May 9, 2017 Here's another video from an - American - blogger who bought a preselling unit in BGC from Megaworld. He is quite bullish on BGC, -- even though I believe the price there is already quite high. I did not know that Megaworld was going to move its HQ to BGC but that's what he is saying. And Citibank also closed down its Makati HQ and moved it to BGC as well so it appears to be true that a lot of jobs are coming to BGC. Link to comment Share on other sites More sharing options...
drbubb Posted May 10, 2017 Author Report Share Posted May 10, 2017 "it appears to be true that a lot of jobs are coming to BGC." Not unexpected... given all the new office space opening up there. There is a very low vacancy rate in Makati's Office market, so opening up of space in Makati will be a good thing for those who want to expand in Makati, or move their offices there. It is good that jobs are moving to BGC for those who own residential properties there, since there are something like 6,000+ units to be completed there in 2017. And the completions will run high for years to come. My concern is that those who live and work in BGC may find the traffic jams getting in and out to be "challenging" McKinley Avenue is a real choke point between Makati and BGC Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted May 11, 2017 Report Share Posted May 11, 2017 http://www.globalpropertyguide.com/news-Top_5_Metro_Manila_Neighborhoods_for_Condo_Investors-3100 Neigborhoods with the highest rental yield are mentioned in this article. Good if you re looking for a condo to buy and rent out I guess... Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted May 13, 2017 Report Share Posted May 13, 2017 http://theexpatangle.com/aroundtown/manila-property-market-to-buy-or-not-to-buy/ Another article about a foreign expat who does recommends that you better don't buy PH Real estate. Opinions are clearly mixed on this subject. Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted May 13, 2017 Report Share Posted May 13, 2017 What initially attracted me to look at real estate investment in the Philippines was the rental yields on offer. It is not too difficult to find yields of 10%+ on gross rental income. However, after looking deeper it is my opinion that, on average, rents are unlikely to grow in the short term due to the massive supply coming onto the market in the years ahead. So if you choose to rent it is unlikely that your cost of living will be pushed up by skyrocketing rental costs. This will strangle capital values, and after fees it will be difficult to make a profit. So while there is certainly a property boom happening in Manila, it is the developers that are cashing in on this. I do hope that the masses look deeper into what they are really buying if it is an investment they want, as is the case for thousands of OFWs. The dream being sold by the developers is not always going to be the reality. Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted May 13, 2017 Report Share Posted May 13, 2017 Being able to make some kind of prediction of price direction in the market requires a reliable source of sales data. The secondary property market is very scattered and as far as I am aware there is no centralized database collating sales information. If anyone reading this knows of one please get in contact. I would love to take a look at it! Without this you can only rely on anecdotal evidence and make a judgment call. Link to comment Share on other sites More sharing options...
drbubb Posted May 13, 2017 Author Report Share Posted May 13, 2017 .... I do hope that the masses look deeper into what they are really buying if it is an investment they want, as is the case for thousands of OFWs. The dream being sold by the developers is not always going to be the reality. Developers say things like: "You can expect a Rent of P1000 psm" yes. A person can expect anything. (Some people expect a flying saucer to land on the White House lawn...) But that does not mean your expectations will be met. For those who dig deeper, they may soon discover that Rents are now FALLING at 4-5% per annum. And the rental return expectations (8-10% pa growth, or whatever) are NOT going to be met. Some people are going to be very disappointed, and they may find that the cash income they expected from renting out their properties is going to fall short, and they will have to subsidize mortgage payment, rather than getting an extra income every month from their rentals. This realization may be pushing more properties out as potential SALES in the secondary market. We may see some real bargains over the next year or two. Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted June 9, 2017 Report Share Posted June 9, 2017 http://www.propertyguru.com.my/property-news/2017/5/152765/investing-in-a-property-in-the-philippines-heres-what-you-need-to-know Excerpt: many of the top condominiums at this moment are located in non-traditional areas Others in the top ten, such as Amaia Skies Shaw, Lumiere Residences, The Vantage at Kapitolyo, and Asteria Residences, are conveniently located near CBDs but are not within their jurisdictions. The first three are located along the stretch of Shaw Boulevard that connects Pasig with C-5 Road, and have excellent accessibility to EDSA, Makati, and Fort Bonifacio Global City. Link to comment Share on other sites More sharing options...
drbubb Posted June 10, 2017 Author Report Share Posted June 10, 2017 WOMEN DOMINATE Online searches, says Lamudi "TOP property listing site Lamudi Philippines said Friday online property hunting in the country is being dominated by women in terms of search volume" + 65% of Lamudi's users are WOMEN looking for condos in terms of search volume, and a majoity are between the ages of 25 to 34, and account for 41% of the firm's total users + PH is an anomaly in Asia, since in other countries, such as Bangladesh, Sri Lanka, Pakistan, Indonesia, and Myanmar, men dominate property hunts + PH is like Latin American countries like Mexico, Columbia, and Peru, who have women dominating the online market Reasons: looking for halfway houses, getting married, or seeking a new location Most popular: For land/ house searches: Quezon City (2nd is Makati) For Condos: Makati Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted July 13, 2017 Report Share Posted July 13, 2017 Quite an interesting video as we see a very young air stewardess entering the real estate rental business, but in her second follow up video, we can notice that it turned out to be a bed spacer business with 4 beds cramped in a tiny 20-22 square meter tiny flat. In most Western european countries this many people on such a small space is not allowed, btw. Quite an interesting video, -- I like it. Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted July 16, 2017 Report Share Posted July 16, 2017 And another "adventure" traveller from Belgium this time. He rents a small flat for about PHP1500 per month, that's about USD30 per month... That's obviously dirt cheap. And he owns a store with his partner I guess. (isn't it illegal for foreigners to enter the retail trade in PH?) And he doesn't want to go back to Belgium, because there is too much bureacracy and no freedom. So PH is new USA. Interesting because it means PH is open for cheapskates. Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted July 16, 2017 Report Share Posted July 16, 2017 And Peter from the PropertyClub has been very busy as of late. His latest videos: where to live in PH the 10 pitfalls of buying property in PH Link to comment Share on other sites More sharing options...
drbubb Posted July 16, 2017 Author Report Share Posted July 16, 2017 " And he doesn't want to go back to Belgium, because there is too much bureacracy and no freedom. So PH is new USA." Yeah, So many Belgians here. I met one recently who travels between PH and Hong Kong, He has a nice flat in Milano. His dream? To open a bakery selling high quality Belgian waffles Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted September 4, 2017 Report Share Posted September 4, 2017 http://www.malaya.com.ph/business-news/business/condo-buyers-pay-hefty-price-parking An article about parking slots which appear to be getting more expensive all the time... Link to comment Share on other sites More sharing options...
drbubb Posted December 26, 2017 Author Report Share Posted December 26, 2017 More Tips Things to consider before buying a condominium unit (mostly Tagalog) Here are the things that you should know and consider before you buy your condominium unit. There is more to mornings than your usual daily-paper-and-coffee habit. GMK showcases heightened and unmatched public services, sensible exchanges of stories and opinions, and trustworthy news reports. GOOD MORNING KUYA Aired June 20, 2014 at UNTV 37 TIPS: + Don't spend more than 30% of your income (following is mostly Tagalog with written & some verbal English translation) WATCH THIS BEFORE BUYING A CONDO In the Philippines! Guide To Help You Decide by GraceDRealtor Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted December 27, 2017 Report Share Posted December 27, 2017 Link to comment Share on other sites More sharing options...
drbubb Posted January 21, 2018 Author Report Share Posted January 21, 2018 Some good advice here. Seven (7) Things to Consider when Buying a Condo Unit 1. Location, location, location When buying real estate, condo units included, a major factor a potential buyer should consider is location, location, location. The location determines accessibility to needed comforts and conveniences. If you value convenience, get a condo unit that has easy access to restaurants, schools, banks, or hospitals... “Access” here means ability to go to those places by foot in under 10 minutes from the unit. 2. Track Record and Reputation of the Developer For condos that are still in pre-selling stage, the reputation of the developer matters a lot because it ultimately determines whether the condo will actually be completed. There have been cases of condo projects in the past that halted construction because the developer ran out of money... For condos that are already ready for occupancy (RFO), the reputation of the developer can tell you if they are committed to work with the condominium homeowners’ association to help manage the condo. Condo management means adoption of effective security measures, strict implementation of condo rules, and proper maintenance of the building. This is not an endorsement but Ayala Land, Robinsons Land, Megaworld, Federal Land, Century Properties and DMCI, among others, have proven themselves to be reliable real estate developers in the Philippines based on their ability to turn over condo projects to homeowners within predetermined dates. 3. Parking If you think condo units are expensive, wait till you hear how much parking spaces cost. In our Makati condo, a 9-square-meter of parking slot costs P400,000 to P500,000. Yup, around half a million pesos for a tight parking space. In BGC, some parking slots sell for P600,000 to P1.5 million each... Inquire with your condo’s property office how to rent one or ask other condo residents if they are renting out their unused parking slot. 4. Noise In a condo, you share everything with the residents — elevators, swimming pool, playground, garden, etc. That includes the noise as well. 5. Amenities and Population Density A condo may be expensive because of the amenities it offers. Normal amenities include swimming pool, gym, children’s playground, function room, and the like. Assess whether the price you are paying corresponds to the value of the amenities available to you. Be concerned about the population density of the condo. “Population density” refers to the number of people per available unit area. In a condo, this translates to the number of residents sharing amenities. In short, the more people living in a condo, the more inconvenient it gets because you’ll have to share the same amenities with more people. 6. Association Dues Living in a condo means paying an additional expense every month: the association dues. This represents your contribution to the shared costs incurred by all condo owners, such as electricity in common areas, water used in swimming pools and to water the plants, wages of security guards, janitors, and maintenance workers, among others. The association dues are usually a fixed amount multiplied by the total floor area of your unit AND your parking slot, if you have one. Our monthly dues at our Makati condo was P50.00 per floor area while at BGC, it is P80.00 per floor area. So for our 40-square meter Makati condo, association dues were P2,000 per month (that’s P50 x 40 sq.m.), while for our 40-square meter BGC condo, the association dues were P3,200 per month. Make sure you pay these dues on time because like credit cards, the penalty interest rate for late payment ranges from 1-4% per month. That is a hefty price to pay for late payments. 7. Rules and Regulations As a resident, you are bound by rules and regulations applicable to all residents and tenants of the condo building. Some condominiums, for example, totally disallow pets and animals of all kinds. There are condos that forbid tearing down a part of your unit or changing the color of your wall. Some condos allow residents to use the swimming pool or the common area up to a certain time only. Parties inside residents’ units are allowed but normally have to end before 10 or 11 p.m. Know your condo rules prior to buying so you won’t be surprised by the regulations once you have moved in. Again we reiterate, if you’re looking to buy a condo unit, don’t be concerned with price alone. Several things must be considered so you won’t feel shortchanged or disappointed with your purchase. The list above may not be exhaustive but we hope this gave you an idea on what to look for before buying a condo. > MORE: https://www.pinoymoneytalk.com/tips-buy-condo-philippines/ Other awesome articles that you might find useful! Is there Rent Control Law in the Philippines? Taxes and fees when buying Real Estate in the Philippines Link to comment Share on other sites More sharing options...
Seven (7) Things to Consider when Buying a Condo Unit 1. Location, location, location When buying real estate, condo units included, a major factor a potential buyer should consider is location, location, location. The location determines accessibility to needed comforts and conveniences. If you value convenience, get a condo unit that has easy access to restaurants, schools, banks, or hospitals... “Access” here means ability to go to those places by foot in under 10 minutes from the unit. 2. Track Record and Reputation of the Developer For condos that are still in pre-selling stage, the reputation of the developer matters a lot because it ultimately determines whether the condo will actually be completed. There have been cases of condo projects in the past that halted construction because the developer ran out of money... For condos that are already ready for occupancy (RFO), the reputation of the developer can tell you if they are committed to work with the condominium homeowners’ association to help manage the condo. Condo management means adoption of effective security measures, strict implementation of condo rules, and proper maintenance of the building. This is not an endorsement but Ayala Land, Robinsons Land, Megaworld, Federal Land, Century Properties and DMCI, among others, have proven themselves to be reliable real estate developers in the Philippines based on their ability to turn over condo projects to homeowners within predetermined dates. 3. Parking If you think condo units are expensive, wait till you hear how much parking spaces cost. In our Makati condo, a 9-square-meter of parking slot costs P400,000 to P500,000. Yup, around half a million pesos for a tight parking space. In BGC, some parking slots sell for P600,000 to P1.5 million each... Inquire with your condo’s property office how to rent one or ask other condo residents if they are renting out their unused parking slot. 4. Noise In a condo, you share everything with the residents — elevators, swimming pool, playground, garden, etc. That includes the noise as well. 5. Amenities and Population Density A condo may be expensive because of the amenities it offers. Normal amenities include swimming pool, gym, children’s playground, function room, and the like. Assess whether the price you are paying corresponds to the value of the amenities available to you. Be concerned about the population density of the condo. “Population density” refers to the number of people per available unit area. In a condo, this translates to the number of residents sharing amenities. In short, the more people living in a condo, the more inconvenient it gets because you’ll have to share the same amenities with more people. 6. Association Dues Living in a condo means paying an additional expense every month: the association dues. This represents your contribution to the shared costs incurred by all condo owners, such as electricity in common areas, water used in swimming pools and to water the plants, wages of security guards, janitors, and maintenance workers, among others. The association dues are usually a fixed amount multiplied by the total floor area of your unit AND your parking slot, if you have one. Our monthly dues at our Makati condo was P50.00 per floor area while at BGC, it is P80.00 per floor area. So for our 40-square meter Makati condo, association dues were P2,000 per month (that’s P50 x 40 sq.m.), while for our 40-square meter BGC condo, the association dues were P3,200 per month. Make sure you pay these dues on time because like credit cards, the penalty interest rate for late payment ranges from 1-4% per month. That is a hefty price to pay for late payments. 7. Rules and Regulations As a resident, you are bound by rules and regulations applicable to all residents and tenants of the condo building. Some condominiums, for example, totally disallow pets and animals of all kinds. There are condos that forbid tearing down a part of your unit or changing the color of your wall. Some condos allow residents to use the swimming pool or the common area up to a certain time only. Parties inside residents’ units are allowed but normally have to end before 10 or 11 p.m. Know your condo rules prior to buying so you won’t be surprised by the regulations once you have moved in. Again we reiterate, if you’re looking to buy a condo unit, don’t be concerned with price alone. Several things must be considered so you won’t feel shortchanged or disappointed with your purchase. The list above may not be exhaustive but we hope this gave you an idea on what to look for before buying a condo. > MORE: https://www.pinoymoneytalk.com/tips-buy-condo-philippines/ Other awesome articles that you might find useful! Is there Rent Control Law in the Philippines? Taxes and fees when buying Real Estate in the Philippines
drbubb Posted January 21, 2018 Author Report Share Posted January 21, 2018 To Buy or Not to Buy a Pre-selling Condo in the Philippines By Hoppler Editorial Board - February 26, 2013 In real estate, a pre-selling condo is a condo being sold before its completion, during its construction, or while still in the planning stages. Hence, the variant terms such as pre-construction and off-the-plan. These mean that the property is still non-existent and the developer is yet to break ground for the project. At this point, it seems that opting to buy a pre-selling condo would be like throwing money into a hole yet to be dug. The question really is not whether to buy or not to buy a pre-selling condo, but what are the risks? What makes people take those risks? What makes pre-selling properties attractive and even downright seductive? Buying a pre-selling condo is a risky venture that needs an informed decision. The following quick tips can help you avoid fraud from the get go: Only buy from and invest in reputable developers who have a long and solid history of delivering quality properties on time. (Check out our list of top real estate developers in the Philippines) Consult a good lawyer you can trust to guide you in the murky waters of legal jargon and paperwork before you sign any contract. Do the math to see if your income and resources enable you to make the commitment of buying a property. Get the services of a licensed and registered broker to guide you in the process of buying a pre-selling condo. Verify if the developer is licensed to sell the pre-selling condo project and if the project is registered on the Housing and Land Use Regulatory Board (HLURB) website www.hlurb.gov.ph. HLURB is a government agency that regulates the Philippine real estate industry. For a more in-depth discussion on pre-selling property in the Philippines, read our other blog posts. > https://www.hoppler.com.ph/blog/real-estate-buying-tips/to-buy-or-not-to-buy-a-pre-selling-condo-in-the-philippines Link to comment Share on other sites More sharing options...
drbubb Posted January 21, 2018 Author Report Share Posted January 21, 2018 Condo Investment: Is it Better To Buy On A Higher Floor or Lower Floor? - True Condos Condo Investment: Is it better to buy on a lower floor for less money or a higher floor for more money? Andrew la Fleur answers with help from Urbanation. Insight #1: Higher Floors DO get Higher Rents The numbers for Burano shows that as you go up in the building and pay more for the privilege, you will get higher rents. This is very important because some investors still believe that they will not get higher rents if they buy on a higher floor and they will use this as a reason to only ‘buy low’. So don’t buy low just because you think you will not get higher rents if you go higher. Insight #2: Higher Is Better The big question this answers is that when you are investing in a pre-construction condo, it is better to go higher. Think of it like this: for a median floor premium of $8.33/floor/month that works out to $100/year. An extra $100/year on a $1000 initial investment means you are getting a 10% cap rate which is very good. If you can get a 10% cap rate on a condo investment, you should take that all day long! Higher is better. Insight #3: 3 Bedrooms get the Highest Floor Premium This was really interesting to see that the largest floor premiums by far were for the 3 bedroom units. Landlords of 3 bedroom units saw an average increase of $54/month or $648/year for every floor up they went. If buyers paid only a $1000 per floor, than that works out to an astonishing 64.8% cap rate! I don’t think this is a universal rule but investors who bought the 3-bedroom units on high floors in this building are doing very well at Burano. Why are renters willing to pay such high floor premiums for these 3-bedroom units? My theory is that if you are already shelling out $3000+ per month for rent, what’s another $200-300/month for an outstanding view? High end renters will pay big premiums for premium views. Insight #4: Renters Will Pay a Premium for Premium Views Check out the 1-bedroom units on this chart. The 445 sq ft unit faces south, the 491 faces north. Even though the average rental price for both units does not show much difference, the average floor premium for the south facing unit is about twice that of the north facing unit ($16 per floor vs. $8). How I interpret this is that the highest floors of the south facing unit command such a HUGE premium over the lower floors that it brings the average rental premium per floor up. On the other hand, for the north facing units, renters will not pay as much of a premium to go up very high > https://truecondos.com/condo-investment-better-buy-higher-floor-lower-floor/ Hmm. That's for North America, My own anecdotal evidence has told me something different - from experience in HK + Higher floors do not necessarily get a higher rent, but they DO RENT FASTER + The premium for a higher floor (better view?) can be about 0.50% per floor in HK. But in PH the premiums for higher floors are much smaller, like only 0.20% (or less) per floor. Maybe PH buyers will eventually pay more for higher floors, when they become more accustomed to living in highrises Link to comment Share on other sites More sharing options...
Euro Chocozone Buyer Posted April 20, 2018 Report Share Posted April 20, 2018 Link to comment Share on other sites More sharing options...
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