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    • Paul

      New Members: Click Here   03/09/2017

      Hello. If you are a new member, and feel a bit apprehensive about posting in the "open" forums, or, just wish to get your "sea legs" prior to posting in the open forums, feel free to post anything you wish to talk about, in the Newbies Forum. No one will bother you, or give you any sort of grief. Everyone there is happy to help you get answers to your questions.


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About aussiekangaroo

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Philippines Experience

  • Philippines
    Visited 1 to 5 trips
  1. The unit is 22sq.m.
  2. The Board further ordered that there should be two measurements of the areas in controversy, one based on the master deed and another based on the internal surface of the perimeter wall. After the ocular inspection, the independent geodetic engineer found the following measurements: Unit 2405- Based on internal face of perimeter wall = 109 sq. m. Based on master deed = 115 sq. m. Unit 2406- Based on internal face of perimeter wall = 110 sq. m
  3. I also read that case prior to purchasing my unit at winland. The Sq.M on there current price list for 3 bedroom unit is 127 Sq.m but you need to include everything from the pipe chase to the balcony which is originally used for aircon only and you need to convert it to a balcony. I had a surveyor into one of my unit's at LGF2 and my winland unit and what is included in the measurements is half way through the wall to the edge of the balcony. It all checked out at as correct measurements. It will cost 80php per sq.m for a licenced surveyor to give a report.
  4. So that's around a 7.3% yearly compounded return, with a 5% difference in my rental yield and reinvesting it I would probably be ahead in 20 years even more so if the condo increases in value by just 2% per annum.
  5. Yes Sydney prices have increased substantially but other places all around QLD have also fallen in the last few years. Like I said i'm lucky I never bought in Gladstone and decided to invest in Cebu instead. If only I had invested in Sydney I might be a millionaire today but it's all about luck I guess.
  6. Members are always complaining about the high purchase prices of condo's in Cebu but I honestly can't understand it to me it's a no brainer that property in Philippines is great value compared to what you get in Australia and far higher rental yields. Below are a few examples. Gladstone QLD, let's look at 2/36 Wood street Barney point, for example with a purchase price today of $100,000. When I first moved here in 2011 they were around $365,00 and when I first started buying property back around 2013 they were selling for $410,000. Thank goodness I decided against buying a unit or house here and rather invested in Cebu condos. Prices may be around the same as when i first bought but they certainly haven't fallen by around 75% either. Now let's see if it's good value to buy now that prices have fallen by 75% and I would still have to say that it's not worth it with a rental rate of $150 a week with Body corporate of $2,576 a year and rates of $2,400 a year that's around 5% a year just in those 2 expenses alone leaving only $55 a week or $2,860 a year let's not even think about repairs or insurance. Now let's look at a 44sq.m studio unit at 14-20 Nicholson Street Coburg VIC selling at $270,000 and tenanted for $13,000pa for example. The body corporate is $1,700 and yearly rates at $700 a month with a capital gain on units around 22% over the last 5 years. Rental yield after body corp and tax equals about 3.8% Now lets compare with my 4 condo units in Cebu with a value around the same as the 44sq.m unit above at around $270k AUD. My total sq.m is 173sq.m and I can easily get 69,000 pesos after dues or $1,865 a month which represents a rental yield of approx 8.5%. The other way looking at is I get to live in a 77sq.m 2 bedroom unit with 2 Parking spaces at 12.5sq.m each and rent the other 3 units at a total of 41,000php after monthly dues or around $13,200 which is a higher yield after dues then the 44sq.m studio unit in Coburg whilst still living in the 77sq.m unit with 2 Parking spaces. Am I missing something? It's a no brainer to me.
  7. You got that right it's ridiculous sometimes having to go back every few months just to get a new prescription so they can charge for a consultation, The most anoying is dole bludgers doctor shoping for sleeping tablets and valium etc and having multiple consultations a week for very minor things just because it's free. It also amazes me how the doctor's clinic don't even ask for any medicare forms to be signed on each visit. How do you know they are aren't just charging for consultations for people not even attending the clinic at that time. I think a few practices have been busted in the past doing that.
  8. There a couple of reasonable full strength beers for as low as $1.25 like Arc Valley and Hollandia, $2 is around the price for Heineken and Carlsberg etc
  9. The price is around the same as the preselling 4 years ago, I've only had this particular unit for around a year and bought it from an OFW in Australia and did the same procedure. There are around 3 fee's all amounting to around 80k I think the tax was around 40-50k and transfer name fee in Primary Homes was 20k and I can't recall what the other amount was for at present. Because the title is still with developer until fully paid there are just a few tax' s to change but no CGT. Have sent you a PM regarding rental rate. For anyone else wanting to enquire please send me a PM directly for faster responses and to save Paul having to approve each enquiry.
  10. I believe Primary Homes has some project like that in Mactan Brentwood, labangon the courtyards at brookridge and Argao Royal palms. Check primaryhomes.com for info.
  11. For sale I have a studio type condo at La Guardia Flats 2 that was completed in 2013 for sale at only 1,850,000 net of fees and is fully furnished. The unit is on the 12th floor out of 15 but there is no 4th or 13th floor. There will be no capital gains tax on the unit as it's still financed in house with the developer being Primary Homes so the total cost to transfer will be approximately 80,000PHP only. The unit is into it's 4th year but is well managed and still looks quite new. There are lots of great reviews on Airbnb for the building. The unit is currently rented out to a nice international student who keeps the unit very clean and has been there a year already and just renewed for a year last month however if your wanting to buy the unit for personal use you will need to give the tenant 2 months notice to vacate. The rental yield is outstanding at approx 9% and is still low compared to other units as she was offered a lower rate since direct and yearly contract. The unit is very easy to rent out as there are always lots of enquiries when listed or agents trying to bang down the door with there clients haha. I currently have 3 units in the same building but just looking to sell one at present due to some financial reasons. The unit is in a great location just beside I.T park and an easy 5 minutes walk. The unit is also facing I.T park and very economical being around half the price of new condo's inside I.T Park. Other owners try to ask 2M plus however I am just looking for a quick sale. You may also take over payments in Primary Homes at 9.25% with around 700k owing if you wanted finance for some of the price.
  12. I'm using Globe plan 299 with anti bill shock guarantee on a Huawei 4G WiFi Modem - E5573 purchased in Australia.
  13. This is my speed in Cagayan De Oro right now.
  14. 30 days max.