June 15, 2011
When buying and selling real estate properties in the Philippines, the final purchase price is not the only relevant amount. Other taxes and fees charged on the transaction must be considered by both the buyer and seller because these costs affect the total transaction price.
In the Philippines, the following fees and taxes are charged on real estate transactions.
July 16, 2009
On July 14, 2009, President Gloria Macapagal-Arroyo signed into law the Rent Control Act of 2009 which will supposedly protect millions of Filipinos renting houses around the country.
Republic Act (RA) 9653, “An Act Establishing Reforms in the Regulation of Rent of Certain Residential Units, Providing the Mechanisms Therefore and For Other Purposes,” effectively extended the old Rent Control law (RA 9341) that expired on December 31, 2008.
November 28, 2008
There’s an interesting discussion going on in the PMT Forum, about one’s residence and whether it is an asset or a liability.
By definition, an asset is anything that can directly or indirectly contribute future cash flows. A liability, on the other hand, is anything that can result to a transfer or disposal of an asset.
In this context, is the house an asset or a liability? Here are a few thoughts from some PMT members.
October 9, 2008
Here is a list of things you should consider when buying a condominium unit. Price is definitely a major issue but should not be the only issue.
After living in two condos before, one in Makati and another at The Fort, I have identified seven (7) basic but important things that must be considered before purchasing a condo unit.
Feel free to add your inputs to the list!
July 21, 2008
For sale: Oriental Garden Makati – Lotus Tower (Studio Unit at the 26th Floor)
—– UPDATE September 15, 2008: This unit has already been sold. —–
Location: Buendia cor. Chino Roces beside Export Bank Building (a block away from Ayala Avenue, Makati City)
Floor Area: 33 sq. meters, 26th Floor
Price: Php 2.7M RUSH SALE! Just P2.5 million (US$56,000) (Cash, Bank financing, Flexible terms negotiable)
July 21, 2008
For rent: Fifth Avenue Place (1-Bedroom Condo Unit)
Available starting December 26, 2011!
Location: Fifth Avenue, The Fort Global City (beside Essensa Condominium, near McKinley Hills)
Floor Area: 36 sq. meters
Inclusive of aircon, Double-size bed, microwave oven and refrigerator
Php 18,000/month (without parking)
Php 21,000/month (with parking)
Exclusive of utility and association dues
- Swimming pool and children’s pool
- Fitness Center
- Badminton courts
- Jogging path
- Landscaped gardens
0921-335-3858 (SMS only)
June 22, 2008
Americans are really beginning to feel the effects of the subprime mortgage problem. A news article from CNN Money reported that home prices in the US dropped 7.7% in the first quarter of 2008 compared to the same period last year.
February 20, 2008
The renowned guru of foreclosed property investing in the Philippines, Dinna Revilla, was arrested three weeks ago and her supposed fraudulent schemes were featured last week on GMA7′s Imbestigador.
The arrest was based on estafa complaints by her investors, after Dinna allegedly continued collecting funds although the real estate properties were already foreclosed by the bank. In addition, several of the checks she previously issued as payment to investors bounced.
This development caused several people to believe that the foreclosed property investing venture espoused by Dinna and Think Rich! Pinoy author Larry Gamboa was a fraud.
January 31, 2008
The latest news in the Philippine real estate investing industry is that Dinna Revilla, a renowned guru of foreclosed property investing in the country, was arrested yesterday due to accusations of estafa.
Revilla, author of the foreclosed property investing book Riches in Foreclosures and mentor to Think Rich! Pinoy author Larry Gamboa, allegedly misappropriated the invested money of beauty queen and TV host Miriam Quiambao and four other people.
The Philippine Star and the Manila Standard have the scoop on the issue.
Miriam Quiambao files raps vs realty firm
Former beauty queen Miriam Quiambao and four others filed a syndicated estafa case yesterday against an alleged incorporator of a real estate investment company before the Manila City Prosecutor’s Office.
September 24, 2006
Compared to other countries, the Philippines still has a highly-regulated real estate industry. There are strict rules with regard to purchasing, owning, and investing in real estate and, by default, foreigners are not allowed to own property.
Here are frequently asked questions (FAQs) to help you understand how to buy, own, and invest in real estate property in the Philippines.