yes.. Dumaguete is growing in price... now is a good time to invest on the other side of the island... still can find beach front property at reasonable prices.. really pristine beaches... still a quite life but more buyers showing up... still able to find a good deal...
What do you mean with "other side of the Island"? Getting properties in Sipalay? Or in Bayawan or St. Catalina? Or the complete west coast of NegOcc?
The reason for real estate prices going up is due to the lack of a real estate regulating body and as a result, unlisenced brokers are inflating prices by trying to sell above what the owner wants. Also, you got to remember that Dumaguete and other areas have grown by 100% in the last 5 years and as a city grows so do prices. Land in Darro for example is already selling for 12,000 per sqm and closer to Dumaguete city it can be 50,000 per sqm. I think Paris, Sydney and New York are only slightly more expensive.
Personally I hope it skyrockets so come time to go back and live in Oz, we can sell up, make a killing and fund our resettlement in an outback (aka; more affordable) Oz country setting...
You can certainly buy land in Hawaii cheaper than you can Dumaguete and the surrounding areas. Building a house will certainly cost more in Hawaii....but will most certainly be of higher build quality.
Respectfully disagree with the mentioned pricelevels, 12k or even worse 50k per sqm are still in the category "wishful thinking" for landowners looking to sell lots in Dumaguete. More appropriate pricing would in my view see 4k to 5k per sqm for lots close to downtown, and at most half of that if a 10 minute drive is close enough. However, any comparison with major world cities fails. A current vacant (big) lot offer at a very desirable location in the Amsterdam area is at 600€ per sqm (33k php), a more average price for building lots in the Netherlands would be at around half that price. Compared to many world cities though, the Netherlands would still qualify as "cheapish". Sydney is a lot more expensive, even outside the downtown area, at 3000 AU$ per sqm (110k php). Paris, London, New York, Hong Kong etc. are harder to compare because in many world cities property is mostly in the form of apartments rather than "house and lot" stuff. Obviously though, anywhere where a large majority of people is forced to live in apartments, it must be very high land prices that force them into such apartment buildings.
regarding real estate, only 3 things are important: location, location and location. means in the Dumaguete area: beach lots. and here, yes, prices are exploding over the past few years. I saw a (beautiful) 1000 sqm beach lot with an old house selling for 18mio, but this might be the top of the peak...actually.
SELLING or SOLD? They are not the same thing and many comments here tell of sellers trying their luck. The problem is that buyers may look at prices of property up for sale and then think that the one they are looking at is cheap/reasonable in comparison, when in fact they are basing it on comparison with overpriced property ... that would create a 'self fulfilling prophecy' and lift actual prices.
sold for 18m. all sellers here and all agents know that once or twice a year a crazy foreigner comes and buys an absolutely overprized property and this is what they are all waiting for. by the way, rumors say that the Duterte family bought some not so cheap properties in the Dauin area...no idea if that's true.
Excellent marketing strategy, say the President spent pXXmio on land no one knows who owns. No way to verify so you can just reset the market price of the area based on what you want your commission to be. (that is a general someone 'you', I don't mean you personally)
