Local land prices, are they crazy?

Land prices are looking crazy to me, maybe I am talking to the wrong people or prices are just crazy. I am getting prices of p400/m2 5 km west of Valencia (up the mountain) which is $30,000/ac and p1,500/m2 just outside Valencia which is $122,000/ac.

What are you all seeing/finding?

 

It all depends on What you are looking for, Ease of Travel, right of Way, Is it For Housing or Arable? The DAR are getting pretty strict on Usage.

 

100+/- sqm house and space for covered parking, a garden, maybe some chickens and a few pigs.... and unlike the p400 land in the OP, a paved road most of the way and at least a stable (not having to dodge rocks as big as a person's head, 4"+ drops to dirt from the pavement/climb to pavement, that changes almost daily) road to the property.

 

When you are looking at land to purchase send your Filipina wife and stay at home. Soon as they see kano the price triples. Having said that price always depends on the beauty of the location, if it has a clean title, right of way or a concrete barangay road, water and power connection, street lights, fencing, bad water run off etc. Then you may also wanna check out the local neighbours to make sure there are no midnight kareoke fests, rooster breeders, pig breeders, night time barking dogs or drunken Filipinos wandering about. Oh and don't stand under the coconut tree.

 

There is no such thing as title insurance in the Philippines.

 

What the most crazy stuff is in philippines and many other countries with lot owning restrictions, that most people which are allowed to own lot can not afford it at all! And people who can afford the lot are most time people, which are not allowed to own the lot.
Saw once a lot (no buildings on it) for around 72000 php per m2. For that price can you get top lots in switzerland.

 

The population of this country has almost doubled in 30 years, land supply is fixed,(unless one reclaims it from the sea), simple supply and demand I presume. However, an added complication is the increased greed of both the middle & upper classes, thereby trying to screw as much from anyone who can afford aforesaid land prices. Thankfully, all our land was bought in the late '80's early 90's, when prices were reasonable. Most of our construction was also done when the Piso was around P55-58/US$ and cement was P40/sack too. One only needs to look at the 'ready made shoe box' prices in the Philsouth rabbit warrens around town, P1.6 million for a 2 bedroom and P2.1 million for a 3 bedroom, the slums and shabu hot-spots of the future......If you really want to find property prices that are crazy.

 

Those prices are more or less typical depending on location and other factors such as utilities and road access. There are many areas that are much more expensive than those you quoted and other areas, not close to town, that are cheaper. BE CAREFUL as you can lose on purchasing raw land in particular.

 

This can mean many things, what was on your mind to lose in particular?