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Will the earthquakes cool the buying and rental market?


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Davaoeno

 This could be another colntributing factor to a bubble.

If everyone leaves the condos and don't buy tyhem, there will be too many and the prices will have to drop.

Of course here the building will probably drop before the prices do.

 

 

Amazingly Linc was the last place that I thought I would be receiving an education in economics.  I have learned more here in the last week than i ever thought possible.  Are you a big fan of Keynes ??

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Well to give you the heads up from my side, we have got 4 clients wanting to move out of condos this last week, pretty scary Tuesday morning especially for some that live in older condo blocks. As far

But isn't it also true that 100% of highrises are still fine after the strongest earthquake ever recorded in this area. All buildings that collapsed are one/two story buildings. In addition some old h

This whole country is long over due for a property decrease/bubble pop. I actually get very concerned when a country where 80% live on less then 2 dollars a day look at condo;s being built and sold f

My wife and I live in a condo in Florida and in Cebu City and as long as they keep standing we will continue to do so

:-)

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Skywalker

In a Country that is still essentially feudal, the rules of economics are Donald Ducked.   :cold:

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Headshot

Probably the biggest factor in home pricing in the Philippines is material costs. With huge tariffs levied on imported materials, it significantly raises the cost of building a house (or any other structure for that matter). Of course, if you stick to local construction materials an methods, you can still get a pretty cheap house here. However, if local materials and methods are not up to the quality standards you expect, then expect to pay a premium for what you want. The only way anybody is ever going to get a deal here is if the seller absolutely needs to get out from under their house regardless of the loss. If you are building new or trying to buy from those who are NOT in dire straits, then you should expect to pay the going price...and that isn't likely to change in the near future.

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I have friends who own resorts in Alona Beach, Panglao. They have had 80% cancellations in the past 10 days. But significantly they are back to full bookings for the middle of next month and are booked out until mid January.

 

This is a hiccup, albeit a pretty big one, but tourists will soon forget and the real estate market will get even hotter, especially here in Panglao.

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Brucewayne

I have friends who own resorts in Alona Beach, Panglao. They have had 80% cancellations in the past 10 days. But significantly they are back to full bookings for the middle of next month and are booked out until mid January.

 

This is a hiccup, albeit a pretty big one, but tourists will soon forget and the real estate market will get even hotter, especially here in Panglao.

 

When it comes to money here, major setbacks are only major for the poor and this is further proof of said theory.

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smokey

 This could be another colntributing factor to a bubble.

If everyone leaves the condos and don't buy tyhem, there will be too many and the prices will have to drop.

Of course here the building will probably drop before the prices do.

bruce i hope you find your bubble before you meet saint peter at the pearly gates.. 

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Brucewayne

bruce i hope you find your bubble before you meet saint peter at the pearly gates.. 

 

Meet who, where?

Sorry, I gave up on acid trips in the late 80's.

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