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RogerDuMond

Back on topic please.

 

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And ability to pay your mortgage which any house over 3 million most likely has no mortgage maybe prices will drop in the 1 to 4 million range  i have not asked everyone but out of the 30 home owners

Lots of optimism here but none of us has ever been through anything like the sort of economic damage this virus is causing worldwide and its only going to get worse. To sell anything requires a buyer

These are odd times. We haven't had a pandemic since 1918. As a real estate investor I can assure you that " odd"  doesn't necessarily mean " bad".    Don't reject a screaming hot deal just becau

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Next stop Cebu ?

Thailand’s Condo Market Devastated By Covid-19 Pandemic – Chinese Can’t Pay For Their Properties

A leading figure in the Thai property market told the media that the Covid-19 pandemic has devastated the condo market in Thailand.

Dr Apha Atthaboonwong who heads a Thai condo association and is an executive at Richy Place in Charan Sanitwong, Bangkok said that the biggest problem is the almost complete lack of new foreign investors in the market.

He said travel restrictions meant that 98% of potential buyers couldn’t get to Thailand. Most of these were Chinese people from the mainland and investors from Hong Kong.

Even those who had already bought units were unable to continue with payments due to problems in transferring funds as they couldn’t get to Thailand.

Channel 3 said that 10,000 units had only been partially paid for and instalments had ceased during the pandemic.

In many cases 30% had been paid and 70% was due but not coming.

Calls are being made for a government 5 billion fund to be established to help with loans for repayments to help condo developers who have cash flow difficulties due to the lack of inflows from foreign investors.

Dr Apha also indicated that the domestic market for condos to live in would probably take one to two years to recover.

Source: https://thailand-construction.com/thailands-condo-market-devastated-by-covid-19-pandemic-chinese-cant-pay-for-their-properties/

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On 8/8/2020 at 3:20 PM, jaybee747 said:

Prices may be going up but from what I am seeing, rents are DOWN.

Last year this time when I was looking to rent near Ayala, the least expensive condo was 25k, now in the same building, there are few condos renting for 20k, even 18k. 

I see that also but i see creative adds.  

Close walking distance to ayala look at maps its 1 hour walk.  Or RENT ?  IS then parking space extra.  Hoa. Extra. Fee fee fee. Saw one 2 months deposit 3 months advance   thinking i might have to rent myself a few months.  Now tourist area could see discount like angeles ?  I see a vloģger called property club he checks prices

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Kabisay-an gid

Fairy tale predictions of a major crash in the prices of Philippine condos and other residential real estate properties continue to be disproven. In reality, prices are rising substantially in the coronavirus era:

Condo Demand Pushed PH Property Prices Up in Q2 Despite Pandemic

By: Daxim L. Lucas - 25 September 2020

MANILA, Philippines — 

"Residential real estate prices of various types of new housing units in the Philippines rose by 27.1 percent in the second quarter of 2020 despite the onset of the coronavirus pandemic, based on the latest survey of the central bank – the highest growth rate since the survey began in 2016.

In the quarterly, Residential Real Estate Price Index poll, banks cited higher demand for high-end projects, which drove the average price per square meter upwards.

The also attributed the spike to rising prices of construction materials, labor costs, and other indirect costs, including higher marketing costs of appraised premium properties.

Further, in terms of area and type of housing unit, the highest contributors to the increase in housing prices were loans for the purchase of condominium units, particularly those in Metro Manila, and single attached or detached houses.

Low base effects also contributed to the price growth, the central bank said.

By area, residential property prices in both the National Capital Region and in areas outside Metro Manila registered growth.

Residential property prices in the metropolis grew by 34.9 percent relative to a year ago, which is higher than the 18.1 percent growth in other areas.

In Metro Manila, all types of housing units registered an increase in prices, except for duplexes as no loans for the purchase of duplexes in the said area were granted and reported in the second quarter of  2020. Likewise, prices outside Manila increased across all types of housing units.

By category of housing units, residential property prices climbed across all types of dwellings.

All types of housing units recorded growth in prices in the second quarter of this year relative to last year’s levels.

Prices of condominium units rose the fastest at 30.1 percent. Similarly, prices of single-detached or attached houses, townhouses, and duplexes grew by 24.1 percent, 10.8 percent, and 0.8 percent, respectively.

In the second quarter, the number of real estate loans granted for all types of new housing units declined by 55.2 percent. Similarly, declines in real estate loans were also observed in both Metro Manila and other areas.

The average appraised value per square meter of new housing units grew by 66 percent, and all types of new housing units recorded a growth in their average appraised values from a year ago.

During the second quarter of 2020, the purchase of new housing units accounted for 84.8 percent of residential real estate loans.

Meanwhile, by type of housing unit, more than half of residential property loans were used for the acquisition of condominium units (62.7 percent), followed by single-detached/attached houses (32.1 percent), and townhouses (4.8 percent)."

https://business.inquirer.net/308146/condo-demand-pushed-ph-property-prices-up-in-q2-despite-pandemic

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Thing are as usual here in region 8. More advertising for sure as people need money. If somebody tells you their house/land is for sale the answer is simple. "So is everybody else's". No condos here but my veranda is bigger than a condo :biggrin_01:

Most of the locals that are buying are financed by a kano. So traveling has put a stop to that. Otherwise I would have a large amount of money in the bank for land I have for sale.

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After searching Facebook for months (since March-ish or before) I have noticed that there are definitely people with money still in The Philippines. 

Almost all the deals that I have deemed "good" I have bookmarked, and now looking back almost all of them have sold. Definitely been an interesting time. Used cars have seemed to do especially well. 

I have also noticed that the selection on Shopee and Lazada seems to always be getting better and better. I am saddened that a Filipino company could not have been a bigger player in the online e-commerce market (they are both Singaporean companies). I read that Angkas will have some competition from two companies called JoyRide and Moveit. Don't know if they are filipino owned, but competition is always good. 

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to_dave007
51 minutes ago, seanm said:

I have also noticed that the selection on Shopee and Lazada seems to always be getting better and better. I am saddened that a Filipino company could not have been a bigger player in the online e-commerce market (they are both Singaporean companies).

Lazada is owned by Alibaba.. so it's Chinese not Singaporean.

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RogerDuMond
7 minutes ago, to_dave007 said:

Lazada is owned by Alibaba.. so it's Chinese not Singaporean.

To be fair, before Lazada was purchased by Alibaba, it's corporate headquarters was in Singapore. It was started in 2012 by Germany's Rocket Internet.

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Salty Dog

I didn't realize Lazada sold property In Cebu...:unknw:

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In December I got an offer to buy a property in Lapu-Lapu. The owner was working in the Middle East and had it rented. He lost his job and renters lost their job. The property was offered to me on the basis "just take over the bank repayments".

Surely this is very odd.

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Ozepete

A lot of hype about prices holding, but has anyone actually sold Cebu property and if so how did that work out?  From my observations prices asked may be holding but the reality is far different. :scratch_head:

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Davaoeno
4 hours ago, Gavan said:

In December I got an offer to buy a property in Lapu-Lapu. The owner was working in the Middle East and had it rented. He lost his job and renters lost their job. The property was offered to me on the basis "just take over the bank repayments".

Surely this is very odd.

These are odd times. We haven't had a pandemic since 1918.

As a real estate investor I can assure you that " odd"  doesn't necessarily mean " bad".    Don't reject a screaming hot deal just because its unusual !! 

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fred42

A lot of property deals going through now here in Bohol.  No covid property slumps or discounts here.
Big hotels and water parks going up as planned all over the Island. Even a new Wilcon depot being constructed in Dauis. 
It`s hard to fathom where all the money is coming from during these strange times.
 

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smokey

Oh property  well having one in market i can say many offers but the one i want CASH the twisted bank loan here is as good as gambling the i will lease it for 20 years means little to a 69 year old. The 8 down and another 8 in one year is a lawyers dream so i find with my house at 36.000 sq meter furnished with car included is a good price and the buyer will come if not lots of 50.000 sq meter houses iut there or 150.000 sq meter condos

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smokey
1 hour ago, fred42 said:

A lot of property deals going through now here in Bohol.  No covid property slumps or discounts here.
Big hotels and water parks going up as planned all over the Island. Even a new Wilcon depot being constructed in Dauis. 
It`s hard to fathom where all the money is coming from during these strange times.
 

Really u dont know we had one offer but to sneaky for me a brand new company selling medical supplies mask  etc  one customer hummmmm wonder who 

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