Solar Power sub-station

[jon1]

So I read this article a ways back http://www.mysubicbay.com.ph/news/2015/09/23/subic-hosts-largest-solar-power-project-in-southeast-asia and just returned for a couple of weeks. The first thing that I noticed about my neighborhood were these extra tall steel electric poles (3x the height of a normal power pole). This is along the road that goes by the golf course. Then just before the road to the Aeta village, I see several long range electric transport towers going up the mountain. So apparently this project is in full swing and making great progress (something that you rarely see). 

 

Wishful thinking would be that this will somehow lower electricity costs locally but that would be somehow logical which does not apply in this no logic zone. However, that being said, you would think with the price of coal so low that the electricity should follow. Again that logic cannot apply here. 

 

 

 

[mogo51]

Yes, amazing how they can put the price of utilities up (and indeed most things) but going south is another story. 

By the way, I have been searching the net for some information on long life leases in Freeport Zone, can you help please.

[jon1]

On 5/15/2016 at 0:01 PM, mogo51 said:

Yes, amazing how they can put the price of utilities up (and indeed most things) but going south is another story. 

By the way, I have been searching the net for some information on long life leases in Freeport Zone, can you help please.

The leases are for up to 50 years. You can purchase the "Lease Hold Rights" for whatever time is left on the original lease (most are around 40 years now). Once the lease is down to 25 years, you can buy an additional 25 years (cannot be more than 50 years) from the Subic Bay Metro Authority (SBMA). The downside is that you rarely can buy these Lease Hold Rights with financing or installments, unless you can find a seller willing to work with you. The lease prices keep appreciating. Most houses are now going for around $130K+ for 40-42 years (they were around $95K in 2011). I believe that all of the residential properties have now been leased out.

[mogo51]

thanks Jon1, I read some info on the l.i.s.b site.  I am thinking they are starting to price themselves out of the market?  But they keep going up, so what do I know, other than they are just about out of my budget.

Any suggestions on who to try for renting in Subic Freeport?

[jon1]

For short term rentals, you could try searching olx.com.ph. Also, ALOP LAROA REALTY is sometimes pretty good (at a minimum they are honest). If you are in the market for purchasing a lease, your first stop should be the Land & Asset office http://www.mysubicbay.com.ph/about-us/departments/land-and-asset-management-department in the Freeport. They usually have visibility on houses up for sale and can provide you a list to go check out.