Philippine realty builds on bullish prospects, economic growth

MANILA: Strong economic growth and bullish prospects of the business process outsourcing (BPO) industry will keep the Philippine real estate sector rosy and going until 2016. “We are very optimistic by the way things are going for the real estate sector. As we’ve observed before, transformation of areas outside the major central business districts are continuously creating more investment opp

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Philippine banks get stricter about realty lending

MANILA: If you are an OFW and looking to buy property in Philippines, you have an edge over the compatriots back home as banks there have further tightened their lending standards for credit extended to the real estate sector in the third quarter. The Bangko Sentral ng Pilipinas, in its latest Senior Loan Officers Survey, has observed a “net tightening” for standards of commercial real estate

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Properties in Manila more affordable than other global cities

MANILA: Housing units in Manila are more affordable compared to the global cities, according to the 2014 Philippine Property Sector Report unveiled by PNB Securities. “Payments for housing units are also competitive than renting in Manila as compared to other cities,” the latest report said. According to the International Monetary Fund’s Global Housing Watch, the Philippines had the highest

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The Globe Tower named best PH commercial property

MANILA: The Globe Tower, the corporate headquarters of the telecommunication provider, was declared the Best Commercial Development in the Philippines at the recent South East Asia Property Awards 2014 held in Singapore. The Globe Tower, the new 27-storey headquarters for more than 4000 employees of Globe Telecom located in Bonifacio Global City, bested Park Centrale Cebu and SM Aura Premier in t

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PH realty considered ‘overweight’ as BSP rejects bubble rumors

Stock brokerage Maybank ATR Kim Eng is upbeat on the Philippine property sector, buoyed by an assurance from the Bangko Sentral ng Pilipinas (BSP) chief that there was no evidence of a bubble in the sector. Maybank ATR Kim Eng analyst Rommel Rodrigo was quoted as saying by Inquirer that they remained “overweight” on the property sector, noting that BSP Governor Amando Tetangco Jr. had confirm

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Home loans rise by 6.6% in Philippines

MANILA: Stricter guidelines aimed at restricting loans to property firms notwithstanding, real estate exposure of local banks continued to rise at the end of the first semester of the year. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that real estate loans rose by 6.6 percent to PhP924.32 billion at the end of June compared to PhP866.62 billion in March, Inquirer reported. Rela

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Top tips that will protect you from losing dream home

MANILA: Here are some of the things that the Philippine Housing and Land Use Regulatory Board legal office (HLURB) advises to the property buyers in the country. HLURB legal officers generally suggest that prospective buyers should oblige their sales agents (even of reputable developers) to show documents pertaining to the project and the developer before giving the downpayment. Apart from that,

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OFWs among major property buyers in Cebu

CEBU: With demand for residential units from overseas Filipino workers(OFW) increasing sharply, real estate brokers in Cebu are calling on developers to accelerate their residential projects, particularly condominiums, to keep up with the accelerating demand. “There are a lot of buyers but there are no projects. Developers have to build more,” Anthony Leuterio, founder of Cebu-based Leuterio

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Former natural born Filipinos may also buy property in Philippines

MANILA: Only Filipinos can acquire land in the Philippines as a rule, disqualifying former natural born Filipinos who have acquired foreign citizenship from owning lands in the country. However, various special laws including Republic Act No. 9225 or the Philippine Dual Citizenship Law and Republic Act No. 8179 and Batas Pambansa Blg. 185 or the property acquisitions allowed to former natural bor

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More expats, tourists opting for serviced apartments

MANILA: Serviced apartments have registered considerable growth, with expatriates moving to the Philippines on short contracts—varying between few months to more than a year—as well as leisure travelers who are now more actively seeking additional space and amenities. “Serviced apartments are becoming more popular than conventional hotels or even private properties as they provide a host of

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