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Property 'bubble' In Cebu - Your Views Please!


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smokey

Now I am sure you know I can't show you 'before" ads as they are non existent at this time, but I can certainly show you a lot of empty condos at P10k-P12K all day long.

First of all, prices and terms are getting easier to afford at some places because they are tired of the buildings being empty and falling down without being rented, so the new ones can be had fairly reasonably now http://www.cebuclass...l.php?id=872950

Here's one for rent at 16K http://www.cebuclass...l.php?id=872654

10k http://www.cebuclass...l.php?id=871071

12k http://www.cebuclass...l.php?id=866059

 

There are better deals out there (larger units) that are not advertised online.

I have a friend who bought a 2 bedroom condo in a building with 10 units total.

He has lived there for 6 years and 2 other units have been sold, the other 7 are now being offered at P10,000 per month because nobody has bought them and they are going into disrepair due to sitting empty for so many years with no maintenance done on them.

 

 

 

 

winland towers and units smaller then hotel rooms dont count ....

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It's not that the market is immune to forces. It's that filipinos are immune to logic.

You are communicating in the wrong place. You should be going into pubs all over the island with a shirt that details your proud investments, then you will are talk to folks that live or visit there a

what i invested was found money ,,, i made a lot of money in a short time with little effort so i spent it sure i could of cut here and downsized there but i did not i am of the mind that life is a hu

smokey

This is what is truly baffling about filipino logic. Many owners stubbornly stick to asking rent even if it means keeping the unit empty and receiving zero rent. This happens not only for a month or two but for years sometimes. So instead of getting 80% or 90% of desired rent, the owner keeps the unit empty and receives no rent. Most filipino owners seem to stick to this type of behavior and this seems to be the main reason why rental rate in Philippines is totally out of whack compared to other neighboring countries.

 

seaman

 

 

 

and if you own a unit you can do what ever your heart desires really if i owned a condo i would rather not have anyone renting it anyway i dont rent out part of my house that i use who wants people sleeping in their bed.... this whole thread is same year after year the people that own the units refuse to lower their rent to please the people who want to rent... just buy the unit and then when your done with it you can rent it cheap to someone else

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For Real

Sorry if I didn't make it plain, I want comments from people who live here! Who have made an investment in time and money.

You are communicating in the wrong place. You should be going into pubs all over the island with a shirt that details your proud investments, then you will are talk to folks that live or visit there and have at least invested in a plane ticket & a SMB. If the punters disagree you can just look for another pub.

 

Or you could start an investors network to find like minded people who have parted with their money with the expectation of a return.

 

I bailed from Cebu due to bleak prospects and i couldn't bring myself to start scamming the new guys to remain there, yes was burned by another foreigner and saw a handful of friends burned in real estate and business.

 

Expats living in the Philippines can be put into 3 groups: Hunted, Hunters and the guys with a level of healthy skepticism....have at them all if it floats your boat.

 

Healthy skeptics in this thread who have shared some good commentary include Smokey & Headshot ( that right a respect their points of view). They are going to hate me now...why don't you get to know them personally...to a point that they trust you enough to share what they thinking of investing in July 2012.

 

Not somebody who just got off the boat, and can't decide what inexpensive vehicle to buy.

Come back when you've made some sort of an investment please, besides a cheap run around.

Somebody just off the boat commencing their dream with buying cheap, reliable & safe transport are off to a prudent start. What if their version of prudence prevents them from buying a condo, what will you do when they are 15 years of the boat and still think your purchase was a stupid one.

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smokey

You are communicating in the wrong place. You should be going into pubs all over the island with a shirt that details your proud investments, then you will are talk to folks that live or visit there and have at least invested in a plane ticket & a SMB. If the punters disagree you can just look for another pub.

 

Or you could start an investors network to find like minded people who have parted with their money with the expectation of a return.

 

I bailed from Cebu due to bleak prospects and i couldn't bring myself to start scamming the new guys to remain there, yes was burned by another foreigner and saw a handful of friends burned in real estate and business.

 

Expats living in the Philippines can be put into 3 groups: Hunted, Hunters and the guys with a level of healthy skepticism....have at them all if it floats your boat.

 

Healthy skeptics in this thread who have shared some good commentary include Smokey & Headshot ( that right a respect their points of view). They are going to hate me now...why don't you get to know them personally...to a point that they trust you enough to share what they thinking of investing in July 2012.

 

 

Somebody just off the boat commencing their dream with buying cheap, reliable & safe transport are off to a prudent start. What if their version of prudence prevents them from buying a condo, what will you do when they are 15 years of the boat and still think your purchase was a stupid one.

 

 

 

i know i can be blunt at times but i do speak before i think often

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For Real

i know i can be blunt at times but i do speak before i think often

I actually have a lot of respect for you.

This topic is a warm one - not hot enough to be banned but thoughts are polarized. If the time was right I'd invest (probably retirement) limit my investment on the ground to a house outside the city - the City is only getting grubbier & busier. The only Philippines attraction to me is the opportunity to live a simple life off the grid.

I haven't seen any evidence over the last 5 years that would lead me to believe there are real get ahead opportunities to the common guy (including foreigners) that would allow me to leave a lasting legacy there after I'm gone...and i am reviewing the list of opportunities outside the Philippines...but there are some.

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smokey

I actually have a lot of respect for you.

This topic is a warm one - not hot enough to be banned but thoughts are polarized. If the time was right I'd invest (probably retirement) limit my investment on the ground to a house outside the city - the City is only getting grubbier & busier. The only Philippines attraction to me is the opportunity to live a simple life off the grid.

I haven't seen any evidence over the last 5 years that would lead me to believe there are real get ahead opportunities to the common guy (including foreigners) that would allow me to leave a lasting legacy there after I'm gone...and i am reviewing the list of opportunities outside the Philippines...but there are some.

 

 

 

in some ways i am just another south of the tracks boy who when he fell in shit came out smelling like a rose....

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ellenbrook2001

the market hes too expensive for what you get example where i live all the town house are up market but still 2 empty for the last 6 months brand new near ROBINSONS and hospital quiet location guard , the owner hes frustrated cannot rent all i say too him you did lost a lot of money the last 6 months so has did explain too him better put the price down then you will have full occupancy but did end up on dead ear?????????? i do not understand the way they do business here very weird??

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Skywalker

Actually I am rather pleased to have garnered so many interesting comments to the thread. There is something to be said about the pack animal attitude I pick up on at times here, but it all seems mostly to be taken in good jest.

 

Having met some of the characters here as well, and reading between the lines of some posts (cod psychology!) in general I feel a real camaraderie!

 

Winland Towers always seems to pop up in any thread about property in Cebu. Fascinating really. Anyway I made a few points, read a few points and ignored others. I am still pretty pleased that I have bought my condo, be even more pleased when I get the chance to live there. I am still in the age bracket whereby I feel that purchase is still viable over renting, and I still don't consider my purchase to be an investment - it will be my home.

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