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Property prices in the Philippines

Hello everyone,

Finding affordable housing in the Philippines is number one priority for newcomers. Tell us more about the estate market in your district/city/region.

What are the most desired places to live? What are the most affordable ones? What is the average cost of a rented flat? And what is the average sale price for an appartment or a house? Could you tell us more about local real estate policies/procedures? What about property tax or residency tax in the Philippines?

What about you? Where do you live now? Is it a place you would recommend?

Thank you in advance for your clarifications.

Priscilla

hello....i live in negros island now ..i have a cottage on near the beach in dauin...its all mine..just paid the taxes...but is so boring there....so i will look for a 2nd hand place in the  cebu area....i am now working in india and the boss gives me free housing ..visa...and travel....hope to look in cebu in 2018....joe

We have lived near Tagaytay for 7 years and found it great , we have the countryside, clean air and best of all low humidity and temperatures always 5 or 6 degrees cooler than Manila.
Yet we are only 90 minutes from Makati and 60 minutes ( on a good day) tom Naia

One of the main concerns of expats is security, In the Countryside it is not as much concern as in the City. Although subdivisions seem to offer security , walls and guards, infect it is not always the case.

We live in a barangay , 7km from Tagayaty , and our security is the whole barangay, like  a village we know all the people and they know us , so we have had no problems at all in 7 years.

Sub divisions are certainly more expensive than 'normal' land, and many sub divisions are only partly full and therefore  owner cannot maintain the whole of the subdivision without loss . so the common facilities, pool etc , are poorly maintained.
Far better in my view is to buy land and build a property yourself.

My view

We live inside Subic base, a quite place and far from traffic and noises u can sleep well hearing crickets , its like american neighborhood, they follow the rules and regulations, when u get caught by the police traffic they'll give u ticket no under the table as far as i know.:D We just only been here for  2 yrs and we are near to everything like schools, SM stores, HMR, Harbor, parks  fresh and wet market and so on and you can do a lot of errands in 1 day at no traffic :D unlike Manila is just 1 errand for whole day:( traffic is really bad:( pollution and so over populated, it seems that people are not sleeping anymore in Manila: while in the provinces you can leave in a simple life, peaceful and happy life:D,.

COLEMI14 :

We have lived near Tagaytay for 7 years and found it great , we have the countryside, clean air and best of all low humidity and temperatures always 5 or 6 degrees cooler than Manila.
Yet we are only 90 minutes from Makati and 60 minutes ( on a good day) tom Naia

One of the main concerns of expats is security, In the Countryside it is not as much concern as in the City. Although subdivisions seem to offer security , walls and guards, infect it is not always the case.

We live in a barangay , 7km from Tagayaty , and our security is the whole barangay, like  a village we know all the people and they know us , so we have had no problems at all in 7 years.

Sub divisions are certainly more expensive than 'normal' land, and many sub divisions are only partly full and therefore  owner cannot maintain the whole of the subdivision without loss . so the common facilities, pool etc , are poorly maintained.
Far better in my view is to buy land and build a property yourself.

My view

COLEMI14,

We purchased in an "unfinished" subdivision, but in our case the owner lives in the subdivision and maintains the amenities most likely because she and her sister call it home, though the roads and utility installation remain incomplete. It does not affect us but it will affect other land owners in the sub division who are planning to build in the future. 
The subdivision dead ends on a steep ravine with a wide running stream and three waterfalls, the owner spent a bundle on building walkways, benches, pools and picnic areas, all of which are maintained daily.
Our area has dependable water from the Silang water district and we paid a little more than a $1000 U.S. for the power to our home with labor supplied through agreement by the subdivision owner.

We know of other subdivisions in the area that are either unfinished or if finished, very few of the lots have been sold and the amenities, like the pool are either not maintained or poorly maintained. One of the more expensive subdivisions in the area has had quite a few problems with crime even with guards, though the traffic coming and going from the college within its walls makes it hard to account for who is entering or leaving and why. One property owner is selling and moving to another community to escape the chaos and disorganization, though the golf course in the new community made have had a little to do with the move.

As far as living in the country, i would imagine it depends on just how far out in the country you are before added security is needed. In your case living in close proximity to others in a nice neighborhood or barrio / barangay and knowing your neighbors as we do helps.

Do you have people on the property aside from your immediate family 24/7 who look out for the property when you are not there?  If so, that would take the place of a security guard and added to the neighbors watching out for one another, would give you great security.

The property outside a gated subdivision is definitely less expensive in most areas and if your budget can afford you a nice place in other than a gated community that is a plus, though a recent story of another gentleman and his wife living in a gated community in Batangas with guards in a new large two story home with two new vehicles in the driveway served as an invitation for a robbery by some young men who admitted that the home looked like a good place to find some items worth stealing, IE laptops, computers, etc. 

We know of a few expats living close by in a less expensive part of the area in homes they have either built or remodeled and the only complaint seems to be with regard to crowing roosters, barking dogs and karaoke parties, though they also seem to have no problem with security issues.

So I guess it comes down to location, what you can afford on a monthly basis and how much you can spend on the land and the home. 
  With enough money a nice piece of land can be turned into your personal paradise, with palms, fruit trees, a big garden area and maybe even a pool if the beach is not close by.
Some might prefer a kubo on the beach with no utilities and a few candles for light and a hand dug well for water.

It can be a cheap or as expensive as you make it I guess, and if you are living in a kubo with only the clothes on your back I would imagine your security would not be much of an issue seeing as how you would not look like a very good choice for a robbery as there is nothing to rob.

So what is the cost of land?  500 per sq. meter or 10,000 per sq. meter or more, it depends on the land and where it's at. 

My two cents,

TeeJay

Teejay
Yes we have staff on the property and run a private resort

Land has doubled in price since we moved in 7 years ago from 1000/ m2 to 2000 m2 ( with main road access) farm land is around 500 - 600  m2

Colin

Cebu ,  Traffic is becoming a huge problem so you need to located in a good spot for moving around.

You can get an ok apartment for P9,000 from the the sky is the limit in Cebu.   It is a renters market

there are plenty of apartments  choose from.   When it come to good stand alone houses it becomes a litter tougher

Prices here too have doubled in the last ten year and no end in sight at this time

Leasing a fully  furnished  studio condo appr. 21sm  in a 6 story complex,  2 -24/7   armed security guards when they are awake at nite  in Cagayan de Oro costs me  P15,000 per month. No pool.  Selling price for studio is appr. 1.5 -1.7 million pesos. Owner offered to sell it to me for  P 1.2 million but i said no way. Complex is only 4 years old and already problems with cracked ceilings,and a number of problems due to shoddy construction. Convenient location in good area with an SM mall across the street. Number of new subdivisions going up in the area but i see a number of complaints already by owners about low water pressure to no water pressure. Complaints about trash not being picked up and who is responsible for that service . New homes in subdivisions in my area start at P3 million and up. Lots of new large condo towers along the skyline in the city  and i was told selling out fast. Studios in the new condo towers start at P1.9 million and up for larger units and includes pool on roof and reck area. I am  enjoying my stay ,content leasing for now . Knowing i can pack my 2 suitcases and be off to Thailand in short notice.

We have lived in Barangy and  Landco Subdivisions and much prefer the subdivisions which have neat clean areas and usually a pool. I could not put up with the antisocial habits of the neighbors in the Barangy who would litter the streets, create loud noises and clear their noses without tissues. Despite the warm nature of these people I simply found their habits offensive. Subdivisions are much better and the inhabitants are higher class....but not so much friendly unless you make the effort to socialise. If your wife is lower working class like the most of us then its much harder. Presently we are building a small bungalow in Hacienda Escudero and I'm having trouble having my title transferred by Landco Pacific who say that it can take over 12 months. This is ridiculous when we've done it a few times in less than 4 months. I suspect that they use the titles as collateral for further loans for more investment but they deny it of course?

Peter Clark :

Presently we are building a small bungalow in Hacienda Escudero and I'm having trouble having my title transferred by Landco Pacific who say that it can take over 12 months. This is ridiculous when we've done it a few times in less than 4 months. I suspect that they use the titles as collateral for further loans for more investment but they deny it of course?

Peter,

We know of an subdivision owner who has done exactly as you suggested. They have held up title transfers because they have used land that has been sold and money has already changed hands for collateral for loans. Only when the land owners get to the point where they threaten legal action do the wheels begin to turn to begin the process of title transfer.

Maybe a phone call to DU30's new citizens corruption reporting number (8888), would be in order should you gain any proof?  Or maybe just a comment from your wife that she is considering doing so?

Teejay many thanks, honestly the amount of collateral is staggering and it amounts of Billions of pesos. The office of course deny everything but what else can their be?
To keep the process confidential they only need a handful of staff to be wise to it.

Will give it a go and hope the moped shooters don't get me!!!

There are crooks everywhere in philippines and a few honest real estate dealers. I personally live among the farmers on an estate  divided in 1980 among the farmers awardees(my late mother in aw was an awardee). Price for a 1000 sq meter lot 20 years ago was 80,000 Pesos now its 400,000 Pesos.

There are crooks everwhere
Not only in the Philippines

I agree that in the Philippines corruptipn is endemic as in most of developing countries all over the world
At least here it is easier to identify and with patience get through it

Corruption in the west is more sophisticated , but it is still there,

Hallo Everyone. Its inspiring to read your posts. Its our dream to stay in the Philippines one day. I'm married to a Philippina lady thats from Davao. Currently we reside in South Africa (my place of birth). This sight helps me a lot for preparations before we rellocate in the near future.

Warm regards.

Gideon

Having a bungalow built presently and comparing prices with our present place where i hired local chaps and managed the build myself. Do it yourself for half the cost but the finish will not be as nice as the professional companies.  Add your living space up, companies will charge an all in package of  between 20 and 30 thousand pesos per sq mt, DIY is only 10

Peter Clark :

Having a bungalow built presently and comparing prices with our present place where i hired local chaps and managed the build myself. Do it yourself for half the cost but the finish will not be as nice as the professional companies.  Add your living space up, companies will charge an all in package of  between 20 and 30 thousand pesos per sq mt, DIY is only 10

Hi Peter,

as always I appreciate your comments.  I am currently looking at building a house for my GF's family, it will not be a western style house, rather a simple but durable traditional style house.

My question is, is the 20 to 30 thousand php you mentioned above for a western style house or a more traditional style house?

The style of house doesn't matter unless its something out of the ordinary, the building company will just use the living space to work out the total price. If you build in a baranguy there is not much to get in your way and if you can get water and electricity turned on without planning permission well go for it. In subdivisions they are hot on restrictions and judge blue prints before allowing the building permit to be authorized.
We found our present place, knocked down the walls cost nothing and then rebuilt with "found" help. Water and electric was already on tap.  Maybe there is a property nearby where you want to build that is going for the right price and could do likewise to what we did.

Did I mention that the cost of construction for a single story is the same as a 2 story.

Ensure that the position of the sun is part of your design because it is sooooo powerful Eg  bedrooms and bathrooms face East or north East. If a single story have a wide overhang of the roof, 1.5 meters is great. Choose a builder using hardieflex cement boards instead of plywood.

We also live near Tagaytay and Alfonso.  We have been here for about 11 months, renting out in the countryside (province) which we really enjoy.  We have been married only since May...I am much older than her.  I'm on crutches due to a pinched nerve in my back but she's a great help.  The Tagaytay area is BEAUTIFUL looking out over Lake Taal and out in the open province areas.  The climate is great (Ohio, USA was TOO cold!) and cost of living much better for persons on pension or Social Security.     Brian

We built a small bungalow for Mil's bro and sis, still single but not speaking ? Paid 330k for the 120 sq mts plot and 850 k for a home builder to to put up the property. 1 year after they lived there we found it run down with loose window catches, grimy bathrooms with alkaline stains, dirty stained toilets.  Of course we were upset but on second thoughts we realised that they didn't know how to look after the property very well. Have a shower then just walk away and leave it etc etc. Tatty garden area. what I'm saying is don't spoil them because you will be disappointed.                                                                         We sold a property to French guy with Filipino GF and 2 sweet little girls who were "Escaping" from the families home in Pampanga. Pierre had improved the mothers kitchen and the roof but she was insisting on stainless steel guttering. Purchased a new tricycle for the gfs brother but when it was registered in Pierre's name he became loud and aggressive demanding the name to be changed.  We all like to treat the family but unfortunately it just becomes what is expected of a foreigner and is a slippery slope. Start by how you intend to carry on and be thoughtful but "Stingy"

I did speak with a man online and he moved back after retiring in the Philippines for years. He is in Arizona now. He left the Philippines. He said the cost of living is skyrocketing there. I could see relocating there possibly. However, I have health issues such as arthritis - and with a medical retirement from the military and no Tricare, it seems like it is not a good idea to go to the Philippines even if I really want to do it. I don't have a Filipina wife now, I know moving there would change that - and I will be 55 next year, but perhaps staying in the USA and moving to the desert is my best option long term with the Philippines and the inflation there.

I wouldn't agree that prices have sky rocketed, depends on where you live of course. Eat and live wisely doesn't cost the earth. Locals do have arthritis as well but their problems are lack of exercise and poor diet.  Why walk when you can ride? I'm sure that every Filipino adopts this attitude, step out of the front door and signal for a tricycle. Suppose the walkways are not designed for much usage with broken pavings and parking but we have to make the effort.

Property prices may not have skyrocketed in certain areas, however other prices have, education and electricity and food go up every year, (food more in the last 12 months due to the drought, rice sky rocketed).

The federal bank here in the Philippines is looking for (hoping for) inflation at a rate of between 2% and 4%, so given an average rate of increase of 3%, The cost of living is going up compared to many 1st world countries. 

Of course the Philippines is a 3rd world country, so naturally the hope for inflation to increase, along with wages for the national people.

Tj, did you get my message regarding lots in you subdivision?  rainrider9

We already bought a house in cebu Talisay and about my Job we can still not live there continuous, but I'm counting the days up to my retirement that I can settle down there.... I love the phils ......

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