everra_header_be_safe.jpg

Fair Market Value
HOME
HOUSES AND LOTS
RENT / LEASE
CONDOMINIUMS
TOWNHOUSES
OFFICES
COMMERCIAL BUILDINGS
COMMERCIAL LOTS
RESIDENTIAL LOTS
POST YOUR REQUIREMENT
LIST YOUR PROPERTY FOR SALE
LIST YOUR PROPERTY FOR LEASE
TESTIMONIALS
REAL ESTATE LAW
HOUSEKEEPING
ACCOMMODATION
PROPERTY APPRAISAL
DOCUMENTATION
FIRE INSURANCE
CAREERS
CONTACT US
RELATED LINKS

by Wilfredo C. Manzon, REALTORŪ
 
FACE VALUE REAL ESTATE AWAKENING

 
Doing business in the Philippines at present has been identified as one of the exciting emerging markets in the region. The real estate market trend gets going higher after elections where the economy seems to run better now than on the recent years. Some economist described our country has a very strong potential in investment opportunity right now. The strong peso and the stock market soars to the highest after a decade according to the record contribute the highest trust in the business sector. The reviews in the stock market conclude the two largest land developers, Ayala Land Inc. and Megaworld Corporation, had been the two biggest gainer among the investors group. These developers are in full swing of their construction of high rise buildings in the metropolis aside from other joint venture for housing sector in the countryside.

 
Our country is one of the largest English-speaking technical and executive resources for manpower in the region where we can offer a large pool of skilled managerial and technical expertise. Maybe the problem in the cost of power and labor are the main factors why the investors group, are so extra careful in putting business here. Economic reforms have been undertaken by the government to open the market making way for numerous investor-friendly policies that could attract many global companies to set up operations here. The process of doing business has been simplified to ensure more efficient business transactions. Laws could have been amended to open up several sectors to foreign investors. The government maybe needed to do a lot of infrastructure development to support economic growth.

On the real estate sector, prices of lands were going higher in the recent quarter. Aside from the housing units sold, prime properties in the Central Business District had been offered much higher than the recent years. The office and residential spaces in this area have been continuously transacted (Call Centers and Business Processing/ Outsourcing requirements). That is why, several construction of high rise buildings are on going nowadays. The low interest that our government (PAGIBIG) had been offered in the housing sector gave some sigh of relief for the borrowing public. The efforts of some universal banks, that very aggressive on their lending business, are truly helpful on this government campaign to resolve the requirements of the housing sector.
 
The appraisal industry also benefited of this scenario. ROPOA’s (Real & Other Properties Owned or Acquired) Assets of the banks have been appraised for disposal. These non performing assets are keeping their owners of heavy burden on their books because I presumed that these assets are acquired by those banks beginning of Asian Crisis in 1997. We should capitalize the continuous remittances of our Overseas Foreign Workers (OFWs) to invest their extra dollars to real estate. It is time to the government to consider the inter-regional trade of our neighboring countries. It could bring tourism and investment here. The government should implement all the laws in the land for the tax collection, the corruptive pork barrel system, the political dynasty to the separation of powers between the Legislative, Executive and Judiciary but the reality is the political patronage that are mainly affecting those attainable economic growth.

 
VALUE INFORMATION

INDICATIVE LAND VALUES

   Current Market Value
Range (per sq.m.)
 Makati City      
 Ayala Avenue   P 250,000
P300,000
 Legaspi Village     200,000  220,000
 Salcedo Village     200,000  220,000
 Taguig City     120,000  150,000
 Global City      
 Mandaluyong/Pasig      
 Greenhills       50,000    60,000
 Ortigas Center     120,000  150,000
 City of Manila      
 Binondo       70,000  100,000
 Roxas Boulevard       60,000    80,000
 Muntinlupa City      
 Madrigal Business Park / Filinvest       50,000    60,000
 
September 2007