⌛ Lot in Ajong, Sibulan

Hi,

Just been offered a lot on the highway in Ajong Sibulan (near the school) for about 3000pesos per sqm. I bought 3 lots for 600p 10 years agoaround thesame place. Can anybody tell me if the market + inflation justify such unit cost. Would appreciate your feedback.

 

No Way BUT!

No way makoy, Unfortunately, greed is overtaking market values, of course there is no end to it, so if it is what you want, then you have to pay the price, Then that leads to the knock on regime. Very unfortunate But that's life I guess!


Jack P.:(

 

Yes, NO WAY! That price is ridiculous unless you are buying in close to the downtown Dumaguete area.

 

Are you serious? Never heard of price like that in Sibulan. Are you just testing the market and like to get reactions to 3000/sqm. Do you have any of your lots for sale now????? I am looking.

Cheers Ron

 

Gosh

Are you serious too Ron ? If the market is being tested at this point I would not ask the question Best of luck with your search....John

 

Sorry to burst your bubble/s, mate, however, from personal experience, I bought a lot in Agan-an SIBULAN, 18 years ago, for about P160/sq.m. Nowadays, (within the last 5 years), there hasn't a single lot along the beach that's been sold here, or Cangmating, for less than P2500/sq. m.(most probably P3500+).
The population in those days when we bought our land, was 25% less than it is today. Do the basic math, more people, less land, more OFW's earning decent wages, more foreigners looking for a dream etc, thus more demand overall has to dictate land prices soar.
We're not in some time capsule here, prices move on whether we like it or not, people ask the market rate, as they do in the 'west', if one doesn't like the price then one doesn't buy, real simple.
Please don't make sweeping statements, such as 'Ive never heard of a price like that.......', unless you actually know what the **** you're talking about, of course if you're a registered Neg. Or. real estate agent, employed by the Municipality of Sibulan's assessor's office or the B.I.R., I bow to your superior knowledge(sic).

 

Wow KTM harsh words
Fact is in the West and around the World for that matter there is a recession!
European house prices have fallen dramatically, as in the States etc.
It would seen the only place the "Bubble" has not burst is the PI !!
I have said it before" Don't kill the goose that lay's the golden egg"
cheers JB

 

John, not harsh words mate, reality in this country!
Fact, in the West, population hasn't risen by almost 40% in any country, unlike here(source IMF Phil pop'n: - 1988- 58mill, 2009-92.3mill).
Guess I don't need to explain why we don't have recessions in this country, as demand will always increase, as population expands at a staggering rate, more of the 'skilled' workforce go overseas and send money home. OFW's support (please see: - OFW remittances - an economic booster - Philippines Today and OFW remittances kept RP afloat, economist says - Pinoy Abroad - GMANews.TV - Official Website of GMA News and Public Affairs - Latest Philippine News)

IMHO, a 'bubble', property, investment or whatever etc etc, only occurs, IF a 'false demand' has been created, how can this ever happen here, if "we" all keep 'breeding like rabbits" and the land supply can't keep up?! It is and will be, for the foreseeable future, be a genuine demand after all.

 

I have to agree with KTM. Many local families have children working/living overseas, these children know what it cost to live elsewhere, they want to remain in their new countries and many even move their families there. They see a chance to get ahead and they are holding all the cards. If you can't or won't buy it, there is always the newbie with lots of money looking for the "simple life" to sell it to. Some lots have sold for those prices so of course the neighbors what a piece of that pie, you would too.

This is what keeps the RE and Expat world spinning. With the RE bubble bursting and lowering housing prices in the western world that is even more reason to try to get to where you are running from. Ironic isn't?

 

MMM Food for thought!

As I said GREED! The very mention of the word WESTERN WORLD! and there you have it.


Jack P.