House prices

[stevewool]

House prices and lot prices go up every year but have you noticed if they have gone up more since the pandemic, is there any members who either live around Bohol and the Laguna area and how the house/lot prices are.

[Gandang Smile]

The way I see it, the market is in distress all over the Philippines and whoever hikes the price is fully delusional.

[earthdome]

I don't know anything about prices in the Philippines. But where I live in the US midwest my home estimated selling price according to the internet is up 30% in the last 18 months. 

[graham59]

Prices are not falling in Pangasinan, where my shack is located. 

 

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[Old55]

There is no logic or sense to real estate prices in Philippines. 

[scott h]

8 hours ago, stevewool said:

if they have gone up more since the pandemic,

Hey there Steve. I have no specific knowledge of Bohol or Laguna, but almost daily I skim the business section of the Manila star (great use of bowel movement time ) I can not remember any articles about increasing or decreasing of residential prices in the last 8 years. Quite a few about rent prices going down for BPO office space here in Manila (POGOs exiting the country and BPOs moving to work from home)

What I will share based on my experience whilst watching our family sell some property here, is that unlike the US and probably the UK, Canada and AUS there is no website that tracks property and house value here (probably what Earthdome is using to track his home)

Here, agents will go to city hall and get a form that shows the estimated (average) square meter/peso price of land by Barangay. It does not take into account neighborhood, infrastructure or surrounding houses, but just off of property tax. Then it is up to buy/seller to come to an agreed total price. 

Now since the pandemic I have noticed a lot more for sale by owner signs going up, but never a price quoted 

[stevewool]

Thanks everyone for replying, the wife and I was talking and looking at places over there  but the problem is maybe what we are looking at has either been sold or has been on the market for years , the estate agents don’t seem to work like they do here, boots on the ground maybe next year to have a better sense of prices.

[Old55]

1 hour ago, stevewool said:

Thanks everyone for replying, the wife and I was talking and looking at places over there  but the problem is maybe what we are looking at has either been sold or has been on the market for years , the estate agents don’t seem to work like they do here, boots on the ground maybe next year to have a better sense of prices.

Steve as you know we are not expats living in Cebu but have been watching prices of lots and homes the past 20 + years. There is no gage or history to compare prices. The best you can do is view the large developed communities for published prices.

Word of mouth and boots on the ground for best prices is what we've found. Keeping the fact a rich Kano is involved is helpful but you know all this. I doubt we would ever buy a property in Cebu but keep our ears open. 

[Joey G]

Housing prices... it's all about location, location, location.  You want a good location (and view) you're gonna pay for it. You don't mind living in the province, on a farm... dirt cheap.  The in between places are limitless.  In the Philippines I'd be more concerned about finding a place with clear title and deed than anything 

[RBM]

7 hours ago, Old55 said:

There is no logic or sense to real estate prices in Philippines. 

To add to this, we just received an e mail from an expat offering us their condo at less than half of what he paid for it 2 years ago. 

Like many he just sees no chance of returning in near future.