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feel her belly.
.........Yes Grasshopper, this is the second rule of Thai Club
Is it good to seek the past, Master Po? Does it not rob the present?
If a man dwells on the past, then he robs the present. But if a man ignores the past, he may rob the future. The seeds of our destiny are nurtured by the roots of our past.
Really good post, IMO.
Baguio is simply another elevated alternative to Tagaytay for Manilans and Central Luzon residents to escape the heat of the Filipino summer months from March thru May. I agree with most of what else you say about Baguio and I usually only pass through on my way to or from Sagada and Banaue.
We have prospered incredibly in U$ from buying real estate in prime locations since 79 up to the present with returns similiar to those buying California beach community real estate in the late 50s thru the late 60s. The Filipino population is exploding and has been for the past 20 years not so much different than the ever increasing popuation of California so where theres growth there is prime location real estate appreciation. And during downturns in the economic cycle prime location real estate suffers little or far less than half of other properties.
Our Manila location has gone up 800 in U$ land value and my wifes first Boracay property up 3000 ( U$1000 to U$30,000 ) from 79 to 89 and our 3rd property from 90 to 2006 up 1500 ( $100T to $1.5M ). Also on Caticlan near Boracay from $700 to U$10,000 from 89 to 2001 nearly 100 / year. There are many people who choose to be critical and hesitant about investing in the Philippines and many Filipinos who overprice their properties. THANK GOD for ALL of them leaving wise frugal, patient investors to prosper beyond their dreams.
Every 10th person in the USA and Europe does not have a job.
About 1 in 500 in the market Real Estate investor realizes a cash in their pocket return the can spend.
About 1 in 10,000 webmaster makes enough money to live from G ads.
Yes, prime location real estate is a better investment in terms of appreciation potential. But from a international real estate buyers perspective, there are x factors which increase the risk of buying property exponentially. However, sellers can always bank on the ignorance of vacation buyers to overpay or otherwise not know what they are getting into with the local government (taxes and other extortions), building quality standards, currency fluctuations, environmental risk, and labor force. Therefore, people can always make excessive profits selling to unwitting retirement/foreign buyers. I would guess there are few truly good deals to be had for the foreign retiree who wishes to settle down. Especially when you look at the true value of the real estate as it compares to the prices available to natives for similar quality and location. I would guess that the price to build to good quality building standards, as demanded by some foreign buyers, rises way out of proportion to the actual work performed. Also, with no assurance as to the actual quality of the work.
Sorry Chris and Andy, Have to disagree! It has alot to do with attitude, when 1 out of 10 people allow themselves to get depressed and out of a job often due to their excessive spending and consumer habits to some of us among the 9 out of 10 we see OPPORTUNITY. When major corporations go bankrupt for similiar bad expense, marketing and accounting decisons what remains creates opportunity for others in the the same market.
Three important details about investing in any type of real estate in the Philippines is
1 ) once its paid for the resident investor has access to all types of educated, skilled and uneducated unskilled cheap labor. Business owners in the G20 wealthier countries have tired of so many of their employees striking and demanding higher and higher pay, paying ever inflating health benefits and rising retirement incomes not to mention government intervention. It seems like nobody understands that the wealthy and those who provide jobs do NOT need to work nor bother with such headaches.
2 ) Once a real estate investor or small businessman establishes himself in a Filipino community the level of trust is incredible compared to the wealthier countries where agents and attorneymiddlement have firmly installed themselves between the BUYER and the SELLER. We have had Absolute Deeds of Sale signed and notarized and the land transferred to my wifes name BEFORE making full and final payment withOUT interest. That type of TRUST disappeared in the States from 50 to 100 years ago.
3 ) Here in the Philippines in the Spirit of Self-Determination Filipinos and foreigners can build their own house, depending on location, withOUT any interruption from local government. And most anywhere they can build their own structure withOUT an archetect, withOUT a contractor, withOUT a sub-contractor by simple hiring masons, carpenters, electricians, plumbers etc directly on a daily salary basis. They can use the Tel yellow pages to call local building materials suppliers to canvas prices in ENGLISH and arrange delivery. For 20 years the cost of building in U$ hasnt gone up much, for ground floor structures with steel roofing U$100 / sqm and for 2nd , 3rd, 4th and 5th Floor structures built with steel rebar and concrete U$150 /sqm. NOW those are numbers which anybody can get EXCITED ABOUT when deciding to invest in the Philippines.
Careful Bill this is a NO Bola Bola zone,