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Lawmaker Urges For Reforms To Foreign Land Ownership In The Philippines


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Kreole
11 hours ago, Fresh said:

Not sure why you're quoting "people",  the point is that those less desirable locations won't have to be in the two or three urbanized cities anymore, that's the long-term benefits of opening the market to everyone. As people are priced out of urban areas, rural areas become suburban. There's a reason suburbia doesn't currently exist in the PH, and that reason is money. Open the market to everyone and the money pours in.

And this is a good thing?  Maybe you can show me some examples of where open markets in 3rd world countries benefited the poor and displaced.

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So...It is important that foreigners only own land to their disadvantage? Cool.   

Strictly for investment. There are thousands of investment schemes where people purchase properties purely for rental returns and resale. Investors own real estate in places they can never even get a

Yeah it should read  

smokey
5 minutes ago, Kreole said:

And this is a good thing?  Maybe you can show me some examples of where open markets in 3rd world countries benefited the poor and displaced.

Well same can be said every country in the west they give money to the poor who remain poor  personally speaking i would advise others dont invest in this country u will never own what u build

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Kreole
3 hours ago, smokey said:

Well same can be said every country in the west they give money to the poor who remain poor  personally speaking i would advise others dont invest in this country u will never own what u build

There are many social reasons the poor remain poor even after receiving money which they do not know how to utilize for their future benefit.  Keep in mind that many poor live day to day with no future.  As per investing in the PH, my caution would be that foreigners have NO rights with a court system that is known to be deeply corrupt. 

And then there is the problem that even if you win the court case in a land dispute, the losing party may threaten your life and in some cases commit murder.  I have personal experience from a friend who won a land dispute based on the fact that the Filipino was trying to resell his property.  The perps threatened his life and made it clear that he and his wife would never be safe living on the property.  He just walked away.  There are many more stories like this, so it is my opinion this is not a safe environment to invest.

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Soupeod
11 hours ago, fred42 said:

market price 

There is NO market price! There is some Filipino who says I want 20 million for this... and out of touch with reality.

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Soupeod
3 hours ago, Kreole said:

There are many social reasons the poor remain poor even after receiving money which they do not know how to utilize for their future benefit.  Keep in mind that many poor live day to day with no future.  As per investing in the PH, my caution would be that foreigners have NO rights with a court system that is known to be deeply corrupt. 

And then there is the problem that even if you win the court case in a land dispute, the losing party may threaten your life and in some cases commit murder.  I have personal experience from a friend who won a land dispute based on the fact that the Filipino was trying to resell his property.  The perps threatened his life and made it clear that he and his wife would never be safe living on the property.  He just walked away.  There are many more stories like this, so it is my opinion this is not a safe environment to invest.

He should have reciprocated. 😉

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fred42
22 minutes ago, Soupeod said:

There is NO market price! There is some Filipino who says I want 20 million for this... and out of touch with reality.

The market price is controlled by actual historic sales..
Not some chancer that asks 20 Million for a 5 million property and fails to sell.
Streuth!!

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Soupeod
2 hours ago, fred42 said:

The market price is controlled by actual historic sales..
Not some chancer that asks 20 Million for a 5 million property and fails to sell.
Streuth!!

Surely you joke or come to Leyte!

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Kreole
2 hours ago, fred42 said:

The market price is controlled by actual historic sales..
Not some chancer that asks 20 Million for a 5 million property and fails to sell.

As mentioned, Filipinos have a very distorted sense of value when dealing with foreigners, whereas they would never try that on other Filipinos who would just laugh in their face.  Someone here mentioned that they have never seen a price reduced for any reason and I am not sure where their lack of reasoning comes from.  Not much different for people buying products in cases at no discount or a paltry 10 p for a 1200 p item.

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15 hours ago, jaybee747 said:

Most lower class or poor filipinos who live in urban centers are just renters, so if rich foreigner is paying top pesos to buy the property, they will get evicted

How is that a valid concern when that happens all the time, now? Half the city are squatters. And if they're restricting ownership to residential only, that type of land would be off-limits to foreigners anyway.  An influx of foreign money is just what the country needs, now in the short term to indirectly benefit the poorest through government assistance, and also in the long term to grow the middle-class and so the Philippines won't be just two or three developed urban cities surrounded by rural.

And here's an even better reason: Filipinos are allowed to own land in the US, so Americans should be allowed to own land in the PH.  If they want to get picky, make it allowed for those with resident visas only.

 

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12 hours ago, Kreole said:

Maybe you can show me some examples of where open markets in 3rd world countries benefited the poor and displaced.

Today, all of them?  Look what happened to those places in Africa and South Africa where they kicked the foreigners out, the cities suffered and they're still suffering.

 

 

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lamoe
9 hours ago, fred42 said:

The market price is controlled by actual historic sales..
Not some chancer that asks 20 Million for a 5 million property and fails to sell.
Streuth!!

What is the "market price" also time spent up for sale? - no MLS here. Condo next to mine been up for over 4 years - same price.

 

 

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Dafey
9 hours ago, Kreole said:

Someone here mentioned that they have never seen a price reduced

When we were looking I tried to negotiate several times to no avail. I would also ask, "How did you come to this price?" Every time the answer was, "that's what I need."

 

2 hours ago, lamoe said:

no MLS here

And that's the issue with Americans expecting a fair market price. If they ever get an MLS the Real Estate market will boom.

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fred42
5 hours ago, lamoe said:

What is the "market price" also time spent up for sale?

Owners adding 300% to the value of their property are not serious sellers IMO..
That said,if someone offers them the asking price then...JACKPOT!!


 

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smokey
3 hours ago, fred42 said:

Owners adding 300% to the value of their property are not serious sellers IMO..
That said,if someone offers them the asking price then...JACKPOT!!


 

People who buy lotto tickets and gamble are no different last guy who told me this played 20 dollars a week on lotto at that time 23 years  thats over 23.000 dollars and the world was bad he said because of all these stupid dreamers with there overpriced property   oh and said he was waiting to buy as soon as the dreamers wake up  hummmm renter for life

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Dafey
2 hours ago, smokey said:

 oh and said he was waiting to buy as soon as the dreamers wake up  hummmm renter for life

Or finally hits the Lotto!

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