🇵🇭 The Philippines Condo Market has CRASHED‼️ (What they aren’t telling you)
ฝัง
- เผยแพร่เมื่อ 27 ธ.ค. 2024
- American Expat in his 40s living in the Philippines full time since 2022 breaks down the MOST OVERVALUED thing in the Philippines currently.
#passportbros #expat #philippines #filipina #manila #bonifacioglobalcity #cebu #dumaguete #filipina #itsmorefuninthephilippines #angelescity #travel #travelvlog
Philippine real estate in general is overpriced.
Ok
Some investors seem unwilling to accept that condos, particularly in the Makati and BGC areas, are significantly overpriced. This situation is quite unrealistic. Additionally, sellers are struggling to sell their condos. Furthermore, obtaining financing from Philippine banks is dismal and challenging to get approved. Good luck to the sellers trying to sell their units.
Yup
Only sellers in this market are those that HAVE TO sell.. Deal with Motivated sellers only.. All else is a waste of time
In my opinion, the prices for condos in the Philippines are high everywhere, at least if you want something western and don't want to live in a shoebox.
I'm currently looking for a condo in Cebu for 2-3 months and can't find anything affordable. 30 sqm or less for $500-600 as a studio. A 1 bedroom for 1000 USD + additional costs.
If you want something cheap you have to get out of the city center or make big sacrifices in the city center.
On the other hand, when I compare the rents and amenities of condos in Thailand or Vietnam, they are significantly cheaper with significantly better infrastructure, at least in Thailand.
What speaks in favor of the Philippines, apart from earthquakes and typhoons, are of course the better visa conditions and the advantage that almost everyone speaks English, which makes communication much easier.
Ok
Don't buy property in the Philippines,not a good investment,😢
Ok
Not a single good reason to buy a Phillipine condo. People overpaying rent from idiots who watch too much youtube they ruined Thailand already and ruined it like they ruined Costa Rica and Colombia. If you're a bigshot, who overpays, do it in the USA.
100% true
Is there some way a foreigner can actually own something like condo without the rug being pulled from underneath?
Jaspers' video shows an idyllic, futuristic, tempting, surreal landscape near BGC, so clean, uncrowded (sure, it was raining) and well maintained. Looks horrifically expensive to keep up, but I know labor is cheap there..
Agree!
Don't buy in Retirement especially when the rent is so Cheap that leaving the $ in your brokerage account yields dividends that cover the rent or more . And that's just One of the reasons
Nice
That's what I was thinking too--just rent and let your dividend investments in the US pay for it.
Good info. Thanks for sharing. Was just talking with someone the other day about how the prices in the Phils are not competitive with most of SE Asia. We need this correction. Cheers.
🫡
People who are buying these condos are going to lose them in this crash. I bought a 91sqm 1 bedroom condo that was 7 years old at the time in 2016 for $11k in Mandaluyong. It's now worth supposedly $200k which I have no plans on selling. I updated my condo including new appliances before renting it out for less than $250/mo.
I have a great tenant and I haven't raised her rent in 5 years. I can't believe how ridiculous some of these condos are selling and how many fools are buying them.
Insane
11k?????? Are you sure not a typo?
Impossible 11K for a condo!!! You got to be kidding
What happened to my post? Okay, giving this another try.
Okay either Jasper is deleting my posts or YT. yes, $11k. I only buy properties during economic crashes.
Live frugally.
Pay attention to the economy.
I don't like labels.
I drive a 20+ year old car but I have 20+ properties globally.
I was just there in BGC and I agree that condo prices went way too high.
I viewed a brand new 3bedroom 2 cr with maids quarters 2,100sqft and the asking price was $700k usd.
I’d rather rent or lease anyway for the convenience of not being locked into one location.
Ok
No thank you, people can purchase a nice house outside of the city for a quarter of that price.
I'm an avid investor from the Philippines. Yes, the real estate sector in the Ph is a MASSIVE bubble, maybe bigger than 2008's. Some pieces of land in the province cost more than you'll be paying for in many parts of the US. It's just laughable. The average pinoy makes around 7K USD per year but it's not uncommon nowadays to see a piece of property for 40K to 70K USD for 250 sqm lot. LOL
People are taking advantage of the influx of foreigners especially after covid. This is a new thing and it's only a matter of time for this gigantic bubble to burst.
Already bursting. 🫡
@@JasperinthePhilippinesyou’re just seeing some cracks and isolated cases but that’s about it. The real burst is when it starts to put lots of pressure on the banking system and the value of the php. As of now, prices are still very elevated all over the country.
@@quantomic1106 there is a lot of isolated cases & room for negotiation rents are droppping in the best areas. Very bad sign.
@@JasperinthePhilippines Prices have to come down to their intrinsic value to match the overall economy. These prices are unsustainable when the vast majority of Filipinos earn 10 times less per year than the price of an average house or condo. Demand is only coming from a small demographic - the rich, foreigners, and overseas Filipino workers.
@@quantomic1106 You lack knowledge about real estate. Hundreds of thosuands of buyers come from middle class Filipinos. Condo is affordable now outside BGC with bank mortgages and government HDMF as guarantors. The term can last up to 30 years. It's very affordable for middle income Filipinos. The crash won't happen.
Default is very low. Developers are not highly indebted like in China. Personal and company bankrupticies are so improbable.
someone mentioned this rise in condo inventory is related to the crackdown on chinese scam operations in the Fils? at any rate, the bubble is global, so it's logical that any crash will be also
We shall see
That is true.
POGO or Philippine Offshore Gaming Operations ceased to operate in PH. There are 300K at its peak Chinese workers here. Now, they’re gone.
Is it a great time to be in BGC with a 60k PHP monthly rent budget?
Ofcourse!
And you're still overpaying for a box that's built poorly in a building that's most likely not kept up. Just to say that you live in BGC. 🤔🤫🤣
Bgc looks better than most American cities
True
By far... Makati and BGC are safer and cleaner than most American cities although Manila itself is a trash heap, you still won't be bothered just minding your own business.
about the ONLY city in the Fills. that is
@@JMgmkh ,lol there's also makati and eastwood ortigas , not to mention forbes park where the elites reside, top dogs.
@@phoenixdown1947 Yes. There are a handful. but not very representative of the Philippines as a whole. Only my opinion.
The Gramercy is still expensive. A two bedroom, two bath was almost $260,000 US and that was a few weeks ago.
That’s the asking price My Friend everything is negotiable
You can tell when rents are less than 1% of asking prices that a fall is coming soon.. Unsustainable.
Its not a crash until whole buildings start defaulting
Lol
This vlogger focused only on BGC.
The real estate market of the country is huge. Metro Manila outside BGC is already a big market. There are also provincial areas like Cebu, Clark, Ilolio, Bacolod and Davao with thriving real estate business.
One major point. The government has alloted billions of pesos to fund the construction (on-going) of mid to high rise residential towers for lower middle income groups and those living in slums.
They are now starting to build in Quezon City, Batangas.
Crash? It's too far.
The PH real estate market did not even crash during the worst economic times of the country in 1980s.
Watch the whole video & yestedays in its entirety. I did not only focus on BGC.
Overbuilding means nothing when I know tons of built condos with LOW OCCUPANCY
Bank defaults remain healty at single digit.
yes, office vacancy rates are high due to sudden departure of POGO. However, real estate insiders and experts are not worried.
This is a temporary setback as there is stll a demand from BPO and buyers.
Many of those inventroy are owned by individuals. So, there is no need to sound alarm. If they are not rented, it won't cause so much distraction in the market. They remain idle or became their vacation homes. I have 8 cousins in Canada and USA. They have a combined 12 condos in Metro Manila. They don't care if they are rented or not.
Rich or not. People care if their condos are rented. My father owns several condos in Los Angeles. He’s a multi millionaire & he cares if his condos are rented. They are OVERPRICED plain and simple.
@@JasperinthePhilippines I agree that prices of condos here are over priced but the market has not crashed.
You should know that developers are not hugely indebted. This is not China.
Exposure to banks mortgages are also within healthy levels.
Household debts of Filipinos are low compared to Thailand and Malaysia. So, default is a remote possibility.
I would welcome reduction of prices as this would benefit everyone.
Yes, my cousins use their condos as their staycation whenever they come home for short visit. They are not worried really. Two units with Chinese tenants have left last November. There are other interested renters like this expat from India and Europe but my cousins are not yet sure if they're gonna rent them out.
I'm not connected to real estate industry.
I appreciate your awareness and your stay in the country.
@@RR52517 Rent is going down. BAD SIGN. The Secondary market is down bad call it what you want.
Solid advice as usual. Is it prudent to use a real estate broker to find rentals or just hunt on your own?
I hunt on my own. Brokers are in denial for good reason
real estate developers thought POGOs will be long term they thought Chinese POGOs will be around in the long run. They forget government change, so policies change. Their target market are expats and balikbayans and ofws who are ignorant. Filipinos are not stupid to invest overpriced condo even if they can afford it.
Yup
Hey Jasper, good information. Where do you do your research?
I just live here. I’m boots on the ground. I have rented like seven condos. My girl owns a condo. It’s not really research. It’s just life experience.
@@JasperinthePhilippinesso, you've only lived in the Philippines for how many years?
Observation and being an investor for decades are 2 different things. When an investor is trying to teach you something, it's best to listen or ask questions without being condescending.
I'm trying to give drops of advice to you and your audience but you seem to be wanting to be in competition rather than gathering information and sharing it
Not convinced. 1) People are still moving into Manila 2) Wages are going up fast with the economy growing 6-7% per year 3) There is very little transparency in the market making price comparisons difficult, newly builds are likely the best price gauge available 4) Philippines is ripe for a major change in housing loans - expect it to become cheaper and easier to get in the near future 5) with rapidly rising wages people will want to live in better surroundings - and nothing really compares to BCG/Makati. These are not "average" market, but condos for the very best earners. Prices may momentarily go down, but the long term momentum is up.
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Then buy.. Your logic doesn't make cents.. Or dollars. New builds best price gauge really?? 40% cancelation rate of new condo contracts. Buyers walked away from a huge liability...34 month inventory. Those are universal indicators. Also rent/price ratios are very low, less than 1%.. I'm in Manila now and have been seeing condos to rent in moa, malate.. $600-1000 asking for 2bd ocean view condos.. Across Robinson too.. Empty for months. I'll get a monthly for awhile longer.
thats too optimistic really 6-7% growth? latest data shows only 5% rapidly rising wages? you sure about that?
Philippine wages are not going up! Its been like that for almost 20+ years
How I just waited for someone to make a claim about the GDP growth. That means nothing in a country like the Philippines. The vast majority is poor and they only get poorer with time. Their salaries are lagging way too far behind inflation. Even if there would be 10% GDP growth annually, it would still not make it to the poor, only the rich and super rich would actually benefit from it. Check out the Gini Coefficient for Philippines, always being the worst among all South East Asian countries. The Philippines is doomed to forever be a slave economy and slaves can never get richer. Hence you would never ever see any demand rise for condos from the average Filipino.
Renting until the smoke clears is the primo move
Crazy
Great news . Thanks for sharing . I’m moving there in a couple months and this was very nice to know .
Have fun!
@ i can tell you know what you’re talking about and appreciate it very much .
@ i think I’ll be hitting you up for a consult . I’ve been to the Philippines many many times but never for more than a month . It’ll be nice to get insight from you .
I’m available anytime. Email in bio my friend.
Just got back from Mactan Newtown, Cebu. What a sideshow in delusion! Real estate salespeople adding 400K to prices, and everyone telling me that there are no units for sale! I look at the electrical boxes that are not hooked up, and the empty balconies which shows half the units empty. I am waiting until the market crashes! Renting is the best thing to do there.
If there's a huge backlog its good for the buyers or renters, the prices will go down
Yup
I Belated Merry Christmas. I was in Makati in November and I am convinced what you talk about is just beginning. I have always believed there is more value in the older condos than the newer ones if you value space over amenities.
Ok 👍
This is great info. Honestly, I’m not surprised at all. I’ve been saying this for over a year, now. They are ridiculously overpriced! It would probably benefit potential future-renters to use this video to establish a baseline and negotiate their monthly rent.
Yes
Properties in BGC are priced so high and maybe higher than first world countries.
But other parts of the country seems reasonable.
just stay in a hotel with room service, maid service and a pool..lol
Lol
I did that for 2 weeks but 1500 p a night gets expensive
I'm a hotel guy also. Maximum flexibility. All inclusive.
@ Suit yourself. Great option if you have deep pockets.
Buddy I’m good with a small place , if your singe 30 sq meters works fine , I was paying 1500$ back home for 45 sq meters and 350$ in Manila with a nice pool
I did it for years.
To each their own. I’m not single. 🫡
@@JasperinthePhilippines buddy I didn’t come here to pay 1200 usd on rent
BUDDY I’m paying 750 for 700 sq ft in BGC. Ok buddy? 🤣
200 square foot condo? Are you serious? My bathroom in a small home is almost that big? (20by10). Who can live in that??
Yeah, they do exist
The JAP will that is their size in Tokyo.
I will never buy a condo in Manila there condo are shit. Go to Thailand spend less money and get a beautiful condo in a good area with good health care and delicious food. It’s a win win situation.
lol
True, but Thai visa world is not so easy, unless you have big money......
@@3777177 that true. You need to show proof of 65,000 baht per month or $23,000 in a Thai bank account for a retirement visa. Very easy to do if your over the age 50
youll need great healthcare if you eat that 'delicious' food. hmmm the build quality on those 'beautiful' condos. the constant rug pulls on visas (((
@@regnorse you can eat very healthy eating fruit and veggie and I’ve never been sick eating the street food in Thailand I’ve been to the Philippines 4 times and every time eating the street food I get food poison and the health in the Philippines is not that good if you wanna die stay in the Philippines. If your over the age of 50 you can get a retirement visa you must show proof of income 65,000 baht or deposit $23,000 in a Thai bank. Thailand is a world class destination for travelers and there are lots of people from around the world going to Thailand for there health care needs most people say Thailand is the best place to live from all the Asia country. And I agree.
It is a lot cheaper to live in the Philippines even you rent a condo compared to rent an apartments in the USA. We’ve been there, that is why many Americans are coming here because their retirement money is not enough to live comfortably because everything there is so expensive.
More good news . Love it .
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That's Good News!!
Expect the Condo Prices to Go Down thereafter!!❤
Yup
Perhaps, ..that'll pave the way for the CONDO PRICE to GO DOWN!!
Yessss
Not much talking because it was expected when the closure of pogo was announced. No shock. The developers are doing measures to minimize the impact. But it will recover. There was a similar situation last 1997- 1998. It will recover. Sooner this time.
True
Good video I just subscribed and liked this video great content
Thanks
I'm waiting for the price to drop 95%, then I'm buying
Lmfao
But at least the Filipinas are still not overpriced 😊👊 .
They are free if you’re me 🤣
Trueeee... Lovin it!!
I think the Secondary market shows where the real value is. Like you said the developers are lowering their price yet but the individual owners are starting to realize the real price.
Yup. Not lowering. I think you mean
@@JasperinthePhilippines
Yes
Hoping prices drop and availability up once time for me to move there! 🎉
Yes sir 🫡
Thanks Jasper what is the average square footage for a one bedroom in BGC? And what would be the average rental price for that one bedroom? Thank you.
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A condo is not a good investment especially for the locals. Buy a piece of land and build a house instead of buying a condo unit. Condos get dilapidated and unfortunately the building has a life span. If not maintained properly, there is this weird smell in the building when it gets old. Lol
Ok…
Foreigners can not own land in the Philippines. They can lease but then will never know when the land will be sold off and the lease terminated.
You foreigners are not allowed to own land in our country! Don’t even think about it!
Are people making lowball offers on anything?
I did
@@JasperinthePhilippines good any counter offers?
Beef liver is, unfortunately, expensive in the Philippines than in the USA, but I like to eat well-cooked, fresh beef liver. I'm in heaven when I eat well-cooked, fresh beef liver.
Lol
It’s more than 34 months. More units hitting the market all the time and more over priced than ever. Only unwise foreigners buying. Locals can’t afford them so the pool of buyers is very limited.
Agreed
Can you please make your measurments in sqauere meters. Its much more easier for people outside US and your former colony (philippines).
I lived fife years ago in Makati for 20 m2 for about 400 Euro, sich was the double amount which i was paying in Germany. I hope the people there are really get grounded for their 2,nd world service.
Special requests on this channel are paid
Hi, Frank, find a rule of thumb to guide you. Or if you have a digital assistant (Siri or Google or what have ya) ask it.
@@MindFusion-ij1xl 🎯
Average Wage for Working Filipinos is 25,000 so it will be hard for average Filipinos to afford a condo.
True
Rich speculators selling to dumb foreigners
These developers main target market are expat, foreigners and pogo.
@@loreleifajardo2430 Their target market is high income Filipinos and yes some retired expats who receives at least 1,000USD pension.
i am in cebu and i am shokked for the prices and cant understand why are this prices and who can afford 280k for 57 square meters is crazy expansive more then europe ...
Insane
The Mayor of BGC has spoken so wait 3 years for market to bottom to buy.
Ha ha
For now, they dont seem to care..so yeah, the prices remain the same.
Plus the locals are wiser. They go for house and lot, townhouses in places that are near the Metro but less crowded --not condos.
Nope. All negotiable.
Secondary market is straight fire sale
Seems like what sellers do there is raise the price instead of finding the market so if this continues a potential collapse will be much larger.
Yup
Don't forget HOA fees. For example, if only 30% of the units in a building are sold your HOA fees will probably be much higher.
Could be
Have you tried staying in Nuvali Laguna?
No
And also I have noticed around GBC they are still building high rise towers so more supply is going to be flooding the market
BGC.
$500 to $800 a month? Thats cheap compare to australia. Old condo here is like $250 to $500 a week!
Facts
Actually good news for me. Time to buy for cheap.
Ok
Prices are still way cheaper in the Philippines than in US…
Ok
and 100X harder to sell
Mate of mine always goes in around 40% less on the asking price but pays 6 months up front in cash, claims he wins always when doing so.
I have done that before, but not the 40% 40% is a bit strong depending on the price
Sounds like the condo market is mirroring the American dating market: Girl who's a 6 gets a guy who's a 10, and then she thinks she's worth a 10 for future relationships, but the market will let her know her true value over time. She'll settle for her true worth, and perhaps that's what the Phils market is doing. Love the Philippines and its people btw!
🤣
Don't buy BGC. Buy BTC instead
Lol
Excellent, when is the housing market going to crash in the Philippines, I rent in a subdivision and more than half of the houses are empty except the owners are asking North American prices to buy. Yes there are no sound reason why they want the big prices except greed. It’s like the condo market.
It’s already “quietly” crashed just stubborn owners would rather lose a years rent or a place on the market 5 years than admit defeat.
not all buildings and location have same demand even in BGC.
Obviously
Backlog or Surplus..........pls define correctly as per traditional supply/demand rules
For real. Back log makes no sense here. Back log of what? Non sales? Is the poster saying average listing is active for 3 years?
The oversupply of condominium units has shot up to an equivalent of 34 months as of November amid the sudden increase in availability of units, according to data released by Leechiu Property Consultants (LPC).
According to LPC Research and Consultancy director Roy Golez Jr., the latest level should have been close to net zero as there were 4,000 units in additional supply and 4,000 units sold, but there were 6,000 backouts since the 29 months’ worth of supply was recorded as of the third quarter
This means that it will take 34 months for the current supply to be sold, given the prevailing sales pace. LPC earlier said the market would normally see 12 months as a maximum.
Listen and learn from me little buddy
Lol
Good girl
Jasper, is this a suitable time to purchase a Condo?
Wait awhile
Not even close to a bottom... will continue to spiral down for at least a couple of years.
🎯 Seac. We are certainly not there yet. Time will tell
What about BGC?
Yup. I just got a great deal and I know a couple of people have.
@@JasperinthePhilippines Cool
Then goto other country with a lower rent.
I’m good.
BGC is not representative for the Philippines.
Ok
Oh like Newark, NJ or Detroit, MI or Bronx, NY is not part of America? The fact is, your limited provincial mindset has to broaden. Countries have desirable and non desirable areas. It doesn't mean that a specific area is not representative of a nation. BGC is the Philippines as much as crime ridden Newar, NJ or any of those high crime liberal cities in CA is part of the US, not any less
@ sure, Beverly Hills Is typical for US
BGC owners primarily purchased on a cash basis, but I believe a correction is imminent.
Umm ok
Manila, you can Have it! NO Thank you ! Been there done that !
Are you sure?
There taking advantage not only pilipino also foreigner. Be careful. 😢
Yup
developers have started giving our big discounts. that's their way of lowering its prices.
True
Over value over build a poor corrupt country of have and have not lack of middle class cannot afford nice condo if foreign investment is gone Philippines will crash investor gone your master US don't Bale you out closed all military base bye bye bong dong.
Wo
over priced is just a term for people that wish they can afford bgc, in manila you get what you pay for.
Well, I live in Bgc so I’m not sure that would apply to me but OK whatever you say, buddy
A lot of the overpriced apartments are foreigners buying, but try to sell it to a local.😂😂😂
🤣
No surprise really when you take away one of the major buyers in the market e.g. Chinese POGO operators...who will pay any price as all the money they earn needs to be laundered anyway.
Ok
Thats good so that condo will become cheap
Maybe
Make some friends. Friend let me use condo while they were out of the country. I think its called Condo sitting. I had to pay for cleaning and electricity.
🤣
Manila has truly crashed. Anywhere that rents are dropping is a bad sign. I’m not an expert but I noticed that only the choice few buildings are booked up, Gramercy manila or Solinea tower Cebu.
Otherwise not too solid. Condo prices even in Hawai’i have dropped off from their peak in 2022.
Insurance crisis and rising HOAs, insane inflation is catching up and building maintenance is too crazy.
Timing is everything I guess.
Yup
Cebu crashed also
Yes it has. But, Assumed units / foreclosed can be had for a low price, it’s a more risky transaction since buyer need to pay the owners balance directly to them, and then pay the remaining balance to the developer. Brand new developments; so far popular for foreigner renters but remain mostly unsold. Assume price Approx 130k per sqm. My unit is yielding around 5-6% gross in cebu business park. Found new buyer who is willing to pay 1m more than what I paid just months after I put it on BnB but cap gains and redoc fees plus commission, it’s a break even. The only way this is working out is that my agent is super connected with foreigners constantly passing thru. So we do short and mid term. The unit needs to be unique to have a chance since the oversupply.
Long term so far hasn’t happened. Mactan Newtown is too remote so it has crashed. But some towers are doing okay, the ones by IT park and Ayala
Housing prices are ridiculous in the Philippines. If you look at what you can get dollar for dollar in comparison to other countries, such as Vietnam, Thailand, and Cambodia, you’ll get an extremely larger high quality unit. Not only that but you don’t have to deal with all the headaches in the Philippines that don’t exist in those other Asian countries. The Philippines future looks grim. No nightlife and no family tourism. Vloggers should be more honest. Go to Vietnam instead. Better food, better nightlife, better housing.
Crazy
Oh, come on. The maximum visa stay in Vietnam is 90 days and if you do buy a condo you can only resell to another foreigner.
I’ll be renting in makati in Jan - confident I can find a one or two bedroom for max 25k
1 br sure
Real estate is going to be repriced when new property tax laws come out. Everyone will know what market rate is and realtors won't be able to hide prices
Could be
Rarely a good idea to buy real estate in the third world.
Ok
You can buy a bigger house and lot property, where ownership is yours perpetually, and have a bigger and better space outside Manila. Like in Laguna, Bulacan or Pampanga. For the same or cheaper price than Metro Manila Condominium price.
Ok
pls do not buy condos in BGC. It's way cheaper to rent.
Lol
What the hell does a back log mean?
Lol
way overprice shoebox? no thanks......
Foreigners can never own property in Philippines any way so renting always best keep your reality property in your own property 😉😀👍🥂
They can own condos
Living in those tiny boxes is inhumane, way too small... And way too expensive...
Ok
I don't think it has reached the bottom yet. . . And even if you manage to buy one, selling them is difficult, why? Well there are always newer, nicer and cheaper being build all the time. Cheers
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especially paying that in philippies
Yup
I paid 1.2 million php in a foreclosure. I can sell for 5 mill
Try to sell it.
@JasperinthePhilippines I don't desire to do that... its my place in go to when I travel to other Asian countries. It's my home office and I love it.
Its centrally located, and it has three pools, a full gym and a bar for night life and dinners. Cheaper than in California where I own my house outright.
That's how much I paid for my nipa hut in my backyard
@methemonkeyking Sounds like you are as happy as I.
@@halfunkbass2966all good.
Properties in province though chinese buying them all
Ok
Nonsense! We Filipinos will never allow Chinese or any other foreigner to buy up our land. These aliens may get away with it for a while, but ultimately the Filipino people will scream bloody murder and pressure the government to take back these lands illegally acquired by these foreigners!
Jasper, its the same everywhere, new apartments will fall in value for about 10 years!
Ok
So what?
?
Agree 100%
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Philippines is New York City lol westerners did it
Lol
Being overpriced and over supply of tiny little condos like low-cost housing project. No way the priced will hold and more buyers regrets buying condos where there is noise, pollution, overcrowded pedestrians, motorists. Besides high price, high property taxes and HOA. Parking is also to be purchased separately, about half the price of the condo unit.
Ok
Don't be house/condo poor.....like me
?
@@JasperinthePhilippines Spend too much on housing = less disposable money for everything else.
@ oh ya ya. I’m just a renter I prefer to be liquid. No clue what the future holds
Inflation rate
Lol