Land / house prices

So they get the foreigners to buy property for their citizens! Sounds like a great way for a country to aid their people onto the housing ladder.

 

But in the Philippines are not that many foreigners around as like in Indonesia or Thailand who could buy properties for the citizens.

 

Many in Japan would think that it is impossible to be sure - it has taken 27 years for some land values to increase and many still have not.

But if Dumaguete ever becomes a Tokyo ( ) then possibly land might become worth the 23 million pesos (equivalent) per square metre a plot near Tokyo's Ginza shopping district is now worth.

 

So what propels the ever-increasing prices, especially in top cities such as Manila and Cebu?

 

True, but the sellers can also drive price. If there are no sellers, buyers have to increase their offer to encourage a sale.

 

Probably the same real estate sickness as in Switzerland. They are constructing far too many condos and houses in the high price range. But there are too few renters and buyers around for these. On the low price range there are too many people for the few houses and condos around resulting that these prices will be increasing too.

 

Ajong? Do you mean Ayungon?