NEWS: US recession will not affect Philippine real estate

Construction magnate Reghis Romero II yesterday said a possible US recession as a result of its housing market crisis will not likely affect the Philippine real estate industry.

“In the Philippines, the loan to collateral ratio (for housing loans) is very strict so it would not happen, Romero, national president of the Chamber of Real Estate and Builders' Association, who was the guest speaker at the general assembly meeting of CREBA-Negros Chapter in Bacolod, said yesterday.

Romero said Philippine banks also do not use the same mortgages as their US counterparts which experienced sharp rise in home foreclosures.

CREBA has instituted the use of contract-to-sell instead of mortgage origination in documenting installment sales of house-and-lot packages to prevent subprime crisis in the Philippines .

“The advantage of that is the title is not yet under the name of the buyer. If a (homebuyer) fails to pay, then the contract can immediately be reverted back to the bank, and the bank can use or sell it, or securitize it,” Romero said.

Prior to the use of CTS, a deed of sale is issued to a homebuyer even with only 10 to 30 percent downpayment.

Romero said the “pump priming” of the national government through housing projects like the “One Million Homes Program,” aimed to address housing backlog, can also help the real estate industry.

“We have projects that will spur development in the housing sector. CREBA will take the lead in supporting this program, for the Filipinos not to experience the impending American recession,” he said.

HOUSING BACKLOG

Romero said the Philippines has a housing backlog of 4.5 million within 20 years thus, a production rate of at least 500,000 socialized and low-income housing units per year needs to be achieved.

From 2005 to 2010 alone, a total of 200,000 houses per year should have been built, he said.

MODERATE GROWTH

Romero said the country's real estate industry is “in a state of moderate growth and in a process of consolidation from last year, 2007, to 2010.”

“In other words, what we do now or how we fare this year will create an impact on what the industry will become in 2010. This is the time to act, to make the machine grind at a pace higher than it did in the recent past, otherwise, we may lose one good chance,” he added.*NLG

Source: Visayan News Daily (January 25, 2008)

Field Trip: Marquee Place, uniquely Modern Contemporary Design Development in Angeles City

Last February 3, 2008, in celebration of the Lunar New Year. Marquee Place celebrated their first open house for 2008 with a bang during this Chinese New Year - Spring to Life. Most of the soon-to be residents where treated with lunch and snack of assorted Chinese delicacies and meals. People were also treated for a free photo opportunity wearing a Chinese costumes used during the old dynasties of the past. The children on the hand were given mind games for their enjoyment and relaxation in the open house event.

Community Innovations, Inc.'s Marquee Place is an upscale residential development standing on a 35-hectare tract of land, just nearby North Luz0n Expressway toll exit to Angeles City. It is less than 10 minutes from the Clark Freeport and only a few minutes from everything right beside this land is an on-going construction of world class shopping called Marquee Mall (an Ayala Mall).

Marquee Place boasts of a social and sports zone, complete with lap pool, jogging trails, exercise stations and ball court facilities. The entire park is a playground for children and health buffs. At the same time, its serene ambience encourages relaxation and re-generation.

Community Innovation has already introduced two of its newest housing, HUDSON and NIAGARA house wherein they are themed with modern contemporary design of houses in accordance with modern living you can find here in Angeles City.

Property sales have been very brisk, another indicator of the booming local economy. The Pampangos have really got it made even in the midst of hardship brought about by Mt. Pinatubo eruption and other calamities which devastated the province in the past decade.

Pampanga is now rising on its feet, we welcome you to visit or permanently stay in Pampanga for good.

For inquiries, please call me at 0917-510-0734, Tel: (045) 961-5936 or email me at cfbaluyut@yahoo.com.

Field Trip: Andalusia - Communities Philippines newest jewel in Pampanga

COMMUNITIES, the largest and most successful real estate developer (A Vista Land Company), has brought families home. Because for Communities, it has never been about building houses - it's about building homes for your family and for countless others across the nation. As a pioneer Master Planned Community developer in the Philippines, Communities adhere to the development of the upgraded line of residential community projects.

For these reasons, and more, Communities is proud to celebrate six years of building Master Planned Communities where people just like you feel at home.

Andalusia is a master-planned community spanning 8 hectares of prime land along the Mc. Arthur Highway in San Fernando, Pampanga (the former site of ALMA Ice Plant which was wholly owned and operated by the Lagman family). A community proud to be the center of it all-just a short walk away from the school, church, hospital, recreation center and other lifestyle hubs. This “walkable” , “bikeable” community is designed with residents safety and privacy in mind. A commercial is likewise envisioned to transform the community into a self-sufficient, self-sustaining one. The residents’ well-being is assured with the many wellness features that will be incorporated in the development.

Exclusive Features:
•Community Courtyard with Fountain Park
•Tree lined streets
•WI-FI ready
•Security Monitoring System
•Entrance Gate with Guardhouse/24-hour security
•Underground Drainage System