Dumaguete Info Search


Land / house prices

Discussion in 'Dumaguete City' started by charlyB, Jul 22, 2019.

  1. furriner

    furriner DI Forum Adept Restricted Account

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    So you think the sovereign state should enact legislation to force owners to sell property at low prices if they do not “use” it. Who determines the selling price, the buyer? So if a buyer does not like my price, does he suggest to the enforcement authorities what a “reasonable” price is and then seller takes it or loses it? Wow.
    Your other point about this being characteristic of the “older generation” is not very good. Old people die and guess who gets the land: Their kids. If I don’t sell my kids inherit it and the new owners will be much younger than you, Sir. I purchased my lot from a person younger than me who had been hanging on to his inheritance until he got the price he wanted. You are envious of older people because they have more money than you. Your point is meaningless. But better for me to sell my land to you at a low price acceptable to you than to have the state seize my land, use it or lose it, right? Like patent law lol. There are so many “isms” here that i could accuse you with but I am not going to bother. Your economic philosophy is what it is and I’m not going to change it; however, if you are looking for a tropical place that may be more amenable to your land seizure mentality to benefit the masses, Cuba comes to mind. “With all due respect” I have no interest on continuing this thread along these lines as to do so might give legitimacy to the chilling, authoritarian prospects that you propose.


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  2. wolvhund

    wolvhund DI Member

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    Seems like Venezuela might be a good place for him too.
     
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  3. furriner

    furriner DI Forum Adept Restricted Account

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    I am so glad that the Philippines applies free market capitalism to land sales with the only restriction being that it be amongst Filipinos. Our Filipino spouses are the only owners although the property is marital. And market collapse is a necessary mechanism to realize true market value over the long term. It is cyclical and will always happen; it is only a matter of your opinion exactly when and where at any given time we are, in relation to the next “correction”. In my case, I have a selling price. If one cannot afford to be in the market because his/her loss might be catastrophic, or if one make decisions based on emotion, then I agree, any buyer or seller who does that is an idiot. But there is nothing wrong with waiting to buy or sell at a price that you like. You personally believe the market here is not worth it and will not play the game. Me either; I’m waiting for a better offer. If I don’t get it, I don’t care. I am happy to pass the inheritance on to my kids as I am my bank account and the rest. I am happy with things as they are and liquid assets in my bank account would not make me any happier right now, not unless/until I actually need it, if ever (probably not).


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  4. wolvhund

    wolvhund DI Member

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    Prices seem totally out of whack to me. They have to be dependent on foreign buyers, so few Filipino's can afford that range. It certainly isn't the only place that I think prices are out of whack and that is the thing about markets, they don't have to make sense to any one person, they just have to make sense to two people, the buyer and the seller.
     
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  5. furriner

    furriner DI Forum Adept Restricted Account

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    But it is not possible for foreigners to buy at high prices; only Filipinos can buy land here. This is a measure held dearly in the constitution. Would you marry a citizen here merely so you could invest as marital property? Probably not. But if you happen to be married, well, you need a place to stay and rents here are terribly unstable with owners changing hands and raising rents way above inflation rates. I wonder if land prices really are more stable in countries where only citizens can own land; obviously not in the Phils. Where I lived in NC, prices rose about the same, very slowly, in both good times and throughout the 2008 housing crisis. Prices there are very stable. There, foreigners can and do own a lot of land. On the other hand, California prices went way up and then crashed in 2008. Over the long term, you won’t lose buying land in the Philippines but you are not likely to get rich either. The only ones getting rich are the people who inherit here and then sell...but then they have to spend their “riches” on a new place to live.


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  6. SkipJack

    SkipJack DI Senior Member

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    I don't know.
    Actually I did not present the specifics of a solution. I would like to hear from any forum members who have constructive thoughts about this.
     
  7. Dr. Shiva

    Dr. Shiva DI Senior Member

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    And the California property mess is starting again skyrocketing. Rental prices are now already out of range even for people with higher income.
    In the Philippines it is odd also. The people who are allowed to buy properties don't have the money to buy these. And the people with money are almost foreigners not being allowed to buy properties. Another odd thing. In Zambales was build a highrise building with many condos starting at 39 mio PHP and going up to 79 mio PHP. Yeah that building was sold out in two months! And that was around 76 condos.
     
    Last edited: Jul 26, 2019
  8. furriner

    furriner DI Forum Adept Restricted Account

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    You said “So as I said at the beginning I would welcome the forum's opinion/ advice, have I just been looking at the wrong places or is 2000php + per sqm the norm.”. I was on topic and chose to give you the former, an “opinion” and the good news is, it’s free! Btw, 2000p is a bit low but perhaps achievable. At such a low price I might be suspicious as to why they are willing to take a low ball, for example, are there any family disputes? Is there an actual title? I have seen 2.5k to 5k inside the city limits in places like Candau-Ay-at but it may be higher for urban lots. For “advice”: There is no title insurance here, that means you will have to do whatever you can on your own to ensure a clean title and that future challenges are unlikely. Also know that after the sale, there are several steps which may affect final RoD approval after you paid the money and sellers are gone but you seem pretty smart and probably know that already.


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  9. osodelnorte

    osodelnorte DI Forum Adept Restricted Account Showcase Reviewer

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    Check out Bayawan. More like what you came here the first time. Prices still reasonable. The Mayor and Congressman are brothers so the place is booming.
     
  10. Liverpool fan

    Liverpool fan DI Senior Member Showcase Reviewer

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    I have been in Bayawan several times, beautiful nature for sure, but when a mall is the highlight of the town it's not enough for me to live there, a holiday house there would be nice
     
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