Cebu Real Property Investments

11/09/2022

𝗔 𝗿𝗲𝗺𝗶𝗻𝗱𝗲𝗿 𝘁𝗼 𝗮𝗹𝗹 𝗥𝗘𝗔𝗟 𝗘𝗦𝗧𝗔𝗧𝗘 𝗕𝗨𝗬𝗘𝗥𝗦 📣

Whether you are selling your home or purchasing a new one, it pays to transact with a licensed real estate broker for a smoother transaction. It might not seem like a big deal but there are people who have their own share of horror stories due to dealing with real estate brokers who are not licensed.

A broker can either make your life easier or a living hell once transactions go wrong. Buying and selling a real property entails risks when a real estate broker is not licensed. With a professional license, a buyer or seller is protected because these real estate brokers have a license to protect. The real estate brokers who fail to abide by the law will have their license revoked. A buyer or seller can verify if a real estate broker is licensed by visiting PRC’s official website.

“Section 29. Prohibition Against the Unauthorized Practice of Real Estate Service. - No person shall practice or offer to practice real estate service in the Philippines or offer himself/herself as real estate service practitioner, or use the title, word, letter, figure or any sign tending to convey the impression that one is a real estate service practitioner, or advertise or indicate in any manner whatsoever that one is qualified to practice the profession, or be appointed as real property appraiser or assessor in any national government entity or local government unit, unless he/she has satisfactorily passed the licensure examination given by the Board, except as otherwise provided in this Act, a holder of a valid certificate of registration, and professional identification card or a valid special/temporary permit duly issued to him/her by the Board and the Commission, and in the case of real estate brokers and private appraisers, they have paid the required bond as hereto provided.

Section 30. Positions in Government Requiring the Services of Registered and Licensed Real Estate Service Practitioners. - Within three (3) years from the effectivity of this Act, all existing and new positions in the national and local governments, whether career, permanent, temporary or contractual, and primarily requiring the services of any real estate service practitioner, shall be filled only by registered and licensed real estate service practitioners.
All incumbent assessors holding permanent appointments shall continue to perform their functions without need for re appointment and without diminution of status, rank and salary grade, and shall enjoy security of tenure. However, they may not be promoted to a higher position until they meet the qualification requirements of that higher position as herein prescribed. Nothing in this Act shall be construed to reduce any benefit, interest, or right enjoyed by the incumbents at the time of the enactment of this Act. The appointing authority shall exercise his power to appoint the assessor in accordance with the provisions of this Act only when a vacancy occurs.”

Source: attorney.org.ph

02/06/2022

The ADVANTAGES of buying your home today:

1. You'll save yourself from a 20% price increase per year for that same house. Ang 1M mahimong 1.2M next year.

2. Buying LATER is like throwing 200k in the trash can. You can choose the best unit inside the subdivision instead of forcing yourself to choose from the leftovers.

3. The monthly downpayment is affordable because it is payable on longer terms. You won't stress yourself so much from your financial cash flow adjustments.

4. You still have ample time to look for a better setup and save for your interior home improvements and furnishings.

27/10/2021

What to expect from construction cost for 2022 🙂

NO MORE 25k per square meters for the year 2021

Due to inflation in Materials and Labor Rates, the previously established 25k per sqm (2018-early 2020) has increased to 30k per sqm. By the fourth quarter of 2020, the price had begun to progressively rise. According to Rider Levett Bucknall's Construction Cost Calculator, the price has not returned this year and is gradually increasing, with the lowest rate of 30.1k and a high rate of 63.2k per sqm (as of October 8, 2021).

We regret to inform our clients (present) who have been caught in the middle of the market inflation season that these data will be the new minimal basis for house construction. Also, future clients should be cautious of individuals who claim that the rates haven't changed. Remember that the cheapest price is not necessarily the best option.

As architects, we are trained to design your building around your unique guidelines and, of course, your budget. We are made to adapt to changes and solve issues using our skills to manipulate planning and design, which is why it is such an important step in creating your dream home. It isn't just about adding to your expenses; it's about making the most out of your resources.

References:
https://www.rlb.com/ccc/ -cost-indicator
Architect JM de Jesus (Construction Cost of a House in PH), https://www.facebook.com/ArchitectJMdeJesus/photos/a.110214777160688/419743789541117/
DISCLAIMER: This is only applicable to houses made of CONCRETE, which is common here in the Philippines. The Probable Project Cost always depends on the materials used, the location of the project, labor rates... etc. Which is already stated in the photo. Thank you.

20/10/2021

Dear PAO,Would a law be violated if a person starts a house construction and subsequently occupies the same without any permit?JonahDear Jonah,The answer to your query is yes. For...