⌛ Expensive house/lot ?

Surfing the web and talking to a few real estate brokers for a house/lot for sale in Dumaguete, I notice it's too expensive compared to Metro Cebu and Metro Manila, why is that?

 

Seller-V-Buyer market!

Newbie, Any Estate Broker/Agent is in business, A House is a home, It is to my Mind, only worth what you are prepared to Pay for it. Over the last year or so, we have had many Posts on Threads, totally the opposite of what you have said. Give us a Clue to these web sites you have been too. I just bought a lot for a lot less than Bruce Wayne was Quoting in Cebu. PatO moved here because in the Main, Makati was so dear. not sure you have the right facts here my friend. I know that we all trust (Wrongly) Brokers, Agents Real Estate Professionals, BUT I can not agree with you comments. Prices are going up and this a sad fact BUT Negros and Dgte in particular, to me is, no where near as expensive to buy lots or build housing at this time. as in Metro Cebu or Metro Manila


Jack P.

 

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There is no way land here is as expensive as Cebu or Manila. I moved from Cebu and bought a nice lot here and built. Estate Agents are well Estate Agents and work on commission. People value their house to what it means to them not the real market value plus there are chancers. I know of a 425sqm lot with four new two bedroom apartments, furnished which gives an income that could be sale at just 4.5m :D I didnt use an agent i spent a month in a hotel then driving around every morning asking locals.

 

The key is determining how much you want to spend, and then spending the time to find someone that WANTS to sell. Most of the adds on the internet are dreamers, hoping to make a fortune from one sale. They know that mostly only foreigners would look on the internet so the prices are naturally inflated. If you are serious, it would be worth a shot to post an add in the classifieds forum explaining your price range and desires/dislikes, someone here likely knows of just such a place for you.

Larry

 

I agree with shadow. That was my experience 2 years ago when we bought some land near dauin. You have to look around yourself and stop and talk to locals. We saw a sign about land on the highway and talked to someone local. They knew about other land not advertised that someone was looking to sell. Someone who needs to sell = lower price. good luck.
Dan

 

The key is a "buyer's market" as opposed to a "seller's market", particularly for foreigners, as Shadow suggests. As an example, a year ago we didn't know anyone in this area when we went looking for lots and paid X amount when we found one we wanted. Recently, I met an American friend and his wife who just bought a lot a quarter mile from my place and paid 60% less per sq mtr than I did for a similar lot. They were able to get a great price because his mother-in-law knew someone close by who wanted to sell and the American had the funds and jumped on it. Now he and I are looking to find a larger lot someone is looking to unload, for my friend to build an apartment on and for me to create a farm on. In our area, the further away from the hiway toward the hills, the lower the price.

 

Because Negros Oriental is a much better place to live, and a lot of people want to live here.

 

An older thread, but still some useful info:

http://www.dumagueteinfo.com/board/general-chat/tips-buying-lands-philippines-2346.html

 

Hi,
That was my experience 3 years ago when we bought some land near dauin. You have to look around yourself, and stop and talk to locals. We saw a sign about land, on the highway and talked to someone local.

 

If you found lower prices in Cebu, it is probably in what I call the badlands.
No electricity, water or legal easement= a very low price on purchase, but at what cost after the place is paid for to get the amenities you want or need to live there?
Also, you might be looking at those who inflate their prices for the foreign newbies, they know there is a sucker born every minute you know.