February 18, 2018, 1:01 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07035 UAE Dirham
1 Philippine Peso = 2.03736 Albanian Lek
1 Philippine Peso = 0.0341 Neth Antilles Guilder
1 Philippine Peso = 0.37852 Argentine Peso
1 Philippine Peso = 0.02417 Australian Dollar
1 Philippine Peso = 0.0341 Aruba Florin
1 Philippine Peso = 0.03831 Barbados Dollar
1 Philippine Peso = 1.58755 Bangladesh Taka
1 Philippine Peso = 0.03006 Bulgarian Lev
1 Philippine Peso = 0.00722 Bahraini Dinar
1 Philippine Peso = 33.54368 Burundi Franc
1 Philippine Peso = 0.01916 Bermuda Dollar
1 Philippine Peso = 0.02532 Brunei Dollar
1 Philippine Peso = 0.13142 Bolivian Boliviano
1 Philippine Peso = 0.06189 Brazilian Real
1 Philippine Peso = 0.01916 Bahamian Dollar
1 Philippine Peso = 1.22893 Bhutan Ngultrum
1 Philippine Peso = 0.18046 Botswana Pula
1 Philippine Peso = 383.5249 Belarus Ruble
1 Philippine Peso = 0.03827 Belize Dollar
1 Philippine Peso = 0.02404 Canadian Dollar
1 Philippine Peso = 0.01774 Swiss Franc
1 Philippine Peso = 11.3659 Chilean Peso
1 Philippine Peso = 0.12153 Chinese Yuan
1 Philippine Peso = 54.27203 Colombian Peso
1 Philippine Peso = 10.83966 Costa Rica Colon
1 Philippine Peso = 0.01916 Cuban Peso
1 Philippine Peso = 1.70268 Cape Verde Escudo
1 Philippine Peso = 0.39128 Czech Koruna
1 Philippine Peso = 3.38755 Djibouti Franc
1 Philippine Peso = 0.115 Danish Krone
1 Philippine Peso = 0.93544 Dominican Peso
1 Philippine Peso = 2.16856 Algerian Dinar
1 Philippine Peso = 0.24138 Estonian Kroon
1 Philippine Peso = 0.33716 Egyptian Pound
1 Philippine Peso = 0.52165 Ethiopian Birr
1 Philippine Peso = 0.01543 Euro
1 Philippine Peso = 0.03813 Fiji Dollar
1 Philippine Peso = 0.01366 Falkland Islands Pound
1 Philippine Peso = 0.01366 British Pound
1 Philippine Peso = 0.08656 Ghanaian Cedi
1 Philippine Peso = 0.89866 Gambian Dalasi
1 Philippine Peso = 172.37548 Guinea Franc
1 Philippine Peso = 0.14054 Guatemala Quetzal
1 Philippine Peso = 3.9364 Guyana Dollar
1 Philippine Peso = 0.14982 Hong Kong Dollar
1 Philippine Peso = 0.45019 Honduras Lempira
1 Philippine Peso = 0.11447 Croatian Kuna
1 Philippine Peso = 1.21437 Haiti Gourde
1 Philippine Peso = 4.80326 Hungarian Forint
1 Philippine Peso = 259.67432 Indonesian Rupiah
1 Philippine Peso = 0.06787 Israeli Shekel
1 Philippine Peso = 1.23063 Indian Rupee
1 Philippine Peso = 22.68199 Iraqi Dinar
1 Philippine Peso = 709.84673 Iran Rial
1 Philippine Peso = 1.91667 Iceland Krona
1 Philippine Peso = 2.39444 Jamaican Dollar
1 Philippine Peso = 0.01355 Jordanian Dinar
1 Philippine Peso = 2.03307 Japanese Yen
1 Philippine Peso = 1.93774 Kenyan Shilling
1 Philippine Peso = 1.30544 Kyrgyzstan Som
1 Philippine Peso = 76.53257 Cambodia Riel
1 Philippine Peso = 7.57567 Comoros Franc
1 Philippine Peso = 17.24138 North Korean Won
1 Philippine Peso = 20.41552 Korean Won
1 Philippine Peso = 0.00573 Kuwaiti Dinar
1 Philippine Peso = 0.01571 Cayman Islands Dollar
1 Philippine Peso = 6.12088 Kazakhstan Tenge
1 Philippine Peso = 158.62069 Lao Kip
1 Philippine Peso = 28.83908 Lebanese Pound
1 Philippine Peso = 2.97165 Sri Lanka Rupee
1 Philippine Peso = 2.44272 Liberian Dollar
1 Philippine Peso = 0.22308 Lesotho Loti
1 Philippine Peso = 0.0584 Lithuanian Lita
1 Philippine Peso = 0.01189 Latvian Lat
1 Philippine Peso = 0.02534 Libyan Dinar
1 Philippine Peso = 0.17539 Moroccan Dirham
1 Philippine Peso = 0.31734 Moldovan Leu
1 Philippine Peso = 0.9454 Macedonian Denar
1 Philippine Peso = 25.42146 Myanmar Kyat
1 Philippine Peso = 45.82375 Mongolian Tugrik
1 Philippine Peso = 0.15425 Macau Pataca
1 Philippine Peso = 6.68582 Mauritania Ougulya
1 Philippine Peso = 0.61303 Mauritius Rupee
1 Philippine Peso = 0.29828 Maldives Rufiyaa
1 Philippine Peso = 13.66743 Malawi Kwacha
1 Philippine Peso = 0.35467 Mexican Peso
1 Philippine Peso = 0.07454 Malaysian Ringgit
1 Philippine Peso = 0.22274 Namibian Dollar
1 Philippine Peso = 6.87739 Nigerian Naira
1 Philippine Peso = 0.59195 Nicaragua Cordoba
1 Philippine Peso = 0.14901 Norwegian Krone
1 Philippine Peso = 1.96697 Nepalese Rupee
1 Philippine Peso = 0.02593 New Zealand Dollar
1 Philippine Peso = 0.00737 Omani Rial
1 Philippine Peso = 0.01916 Panama Balboa
1 Philippine Peso = 0.06225 Peruvian Nuevo Sol
1 Philippine Peso = 0.06025 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11398 Pakistani Rupee
1 Philippine Peso = 0.0642 Polish Zloty
1 Philippine Peso = 106.68774 Paraguayan Guarani
1 Philippine Peso = 0.06973 Qatar Rial
1 Philippine Peso = 0.07198 Romanian New Leu
1 Philippine Peso = 1.08044 Russian Rouble
1 Philippine Peso = 16.10153 Rwanda Franc
1 Philippine Peso = 0.07184 Saudi Arabian Riyal
1 Philippine Peso = 0.14875 Solomon Islands Dollar
1 Philippine Peso = 0.25546 Seychelles Rupee
1 Philippine Peso = 0.34393 Sudanese Pound
1 Philippine Peso = 0.15255 Swedish Krona
1 Philippine Peso = 0.02511 Singapore Dollar
1 Philippine Peso = 0.01367 St Helena Pound
1 Philippine Peso = 0.4254 Slovak Koruna
1 Philippine Peso = 146.16858 Sierra Leone Leone
1 Philippine Peso = 10.76628 Somali Shilling
1 Philippine Peso = 378.35439 Sao Tome Dobra
1 Philippine Peso = 0.16762 El Salvador Colon
1 Philippine Peso = 9.86552 Syrian Pound
1 Philippine Peso = 0.22276 Swaziland Lilageni
1 Philippine Peso = 0.59923 Thai Baht
1 Philippine Peso = 0.04546 Tunisian Dinar
1 Philippine Peso = 0.04238 Tongan paʻanga
1 Philippine Peso = 0.07167 Turkish Lira
1 Philippine Peso = 0.12904 Trinidad Tobago Dollar
1 Philippine Peso = 0.55669 Taiwan Dollar
1 Philippine Peso = 43.02682 Tanzanian Shilling
1 Philippine Peso = 0.51715 Ukraine Hryvnia
1 Philippine Peso = 69.38697 Ugandan Shilling
1 Philippine Peso = 0.01916 United States Dollar
1 Philippine Peso = 0.54521 Uruguayan New Peso
1 Philippine Peso = 156.47509 Uzbekistan Sum
1 Philippine Peso = 477.73945 Venezuelan Bolivar
1 Philippine Peso = 434.75095 Vietnam Dong
1 Philippine Peso = 2.01916 Vanuatu Vatu
1 Philippine Peso = 0.04802 Samoa Tala
1 Philippine Peso = 10.11303 CFA Franc (BEAC)
1 Philippine Peso = 0.05172 East Caribbean Dollar
1 Philippine Peso = 10.11303 CFA Franc (BCEAO)
1 Philippine Peso = 1.81628 Pacific Franc
1 Philippine Peso = 4.78831 Yemen Riyal
1 Philippine Peso = 0.22279 South African Rand
1 Philippine Peso = 99.41571 Zambian Kwacha
1 Philippine Peso = 6.93295 Zimbabwe dollar

Pinoys still prefer house and lot

House and lot remains the most searched property amongFilipinos looking for residential properties online, according to Lamudi.

Based on the 2017 traffic and listings in its website Lamudi.com.ph, 59 percent of property hunters were looking for houses while 14 percent were searching for condominiums, followed by land/lots at 12 percent and apartments at 11 percent. 

Of the house and lot searches, 49 percent looked for properties priced at P5 million and below, 35 percent for homes priced up to P20 million, 13 percent for those priced up to P150 million, and interestingly, 4 percent for those with over P150 million price tag. 

“We believe for this to be a perfect reflection of the demand of the property seeker market in the Philippines,” said Bhavna Suresh, chief executive officer ofLamudi Philippines.

“These searches, representing demand, are reflective of the real market scenario that as more unit types (supply) and price ranges are made available online to the market, the more concrete the demand patterns of the buyers become,” she added. 

Lamudi said the data also showed the country’s property sector remains a buyer’s market, with 61 percent of listed properties up for sale and only 39 percent were for lease.

“They absorb what is pushed into the market, and with so many options now made available to them, they can easily find what suits their needs best,” said Suresh.

Lamudi said Quezon City remains the main source of properties posted online owning up to 18 percent of the listings on the platform, followed by Makati at 12 percent, Parañaque and Pasig both at 8 percent each, and Taguig, Manila and Davao at 7 percent each. 

Quezon City also hosts most of online property searchers, accounting for over 15 percent of the total views, followed by Makati at 10 percent. 

Lamudi said searches from established cities outside of Metro Manila like Cebu, Davao, Iloilo, Bacolod, General Santos City and Cagayan de Oro have started to grow in the past three years. 

These numbers indicate a robust supply and demand environment in the property market across the country, said Suresh, with “more demand for both residential and commercial properties in the next several years” seen in line with the economy’s growth. 

“This is also driven by the government’s plans of massive infrastructure investments through the Build, Build, Build program,” she added. 

Lamudinoted continued growth in online searches for real estate properties over the years. Its website had 15 million user visits last year, 20 percent up from the prior year, clocking in a total of 2.7 million hours of online stay,a 40 percent increase. 

“More developers, brokers, and owners are now breaking the brick and mortar barrier to crossover to the click and discover business environment,” said Suresh. 

She added thatLamudisaw close to five times growth in online traffic since 2014, indicating Filipinos’ growing acceptance of property technology (PropTech) as a tool to help them make a major purchase decision. 

PropTech are technology-enabled tools like Lamudi’s online platformthat allow developers, brokers and property owners to reach a wider market, while allowing property decision makers to understand the market better and gather more consumer insights through big data.

“Our role in the PropTech sector is to help establish more transparency in the market. Lamudi sees itself as a collaborator, open to working with the public and the private sectors to move the industry forward,”Suresh said

“In fact, we signed an agreement with HLURB (Housing and Land Use Regulatory Board) recently to help real estate regulating body to bolster their information campaign, protect property buyers, and help them make sound property purchase decisions,” she added.

In 2017, Lamudi hosted more than 100,000 active listings, accounting to over 1.1 billion square meters of properties for sale or for lease – a mix of residential condominiums, house and lots, apartments, commercial spaces, raw lots and foreclosed properties located across the Philippines. 

The portal has a network of 5,000 real estate brokers posting these properties, of which only Professional Regulation Commission-licensed practitioners are enrolled to ensure credibility and professionalism.

Suresh said buyers check at least eight listings on average, spending 10 minutes per visit, indicating their serious need for comparison when it comes to making a decision. About 60 percent of these organically driven sessions are repeat visits which means searchers have high intent in purchasing or leasing a property in the next six to 12 months.

“Buyers naturally do some ‘property window shopping’ before zeroing in on a shortlist and making a purchase decision. Doing it online is more efficient and complements their usual showroom and on-site ocular visits,” Suresh said.

Property consultant Colliers International, meanwhile, said take-up in the condominium market continues to post record level, bringing property prices with it, with 52,600 units sold last year in Manila alone, up 25.24 percent from the prior year’s 42,000 units.This is the highest annual take-up since 2012. 

“Given record number of take-up, it was not surprising to see prices rise to record levels as well. Meanwhile, rents have been declining or flat at best, due to the combined effect of a double-digit vacancy and the influx of new supply. Naturally, residential yields are declining. We consider yields, bank mortgage rates, and capital appreciation potential to attempt to answer whether investments in condominiums will continue,”said DinboMacaranas, Colliers senior research manager. 

“We noted that condominium demand will remain considering that: (a) Metro Manila still has more attractive rental yields than most Asian Cities; (b) Even when adjusted for inflation, return remained positive for key Metro Manila locations; and (c) if we include capital appreciation, the returns become even more attractive,” Macaranas added.

Colliers said Metro Manila central business districts’ (CBDs) condominium stock stands at 101,500 units, with approximately 2,900 units delivered in the last quarter of 2017 alone. 

“The completions during the quarter were concentrated in Fort Bonifacio and Makati CBD, allowing them to increase their leads as the two biggest shareholders among submarkets with 27 percent and 25 percent of total stock, respectively. They were followed by Ortigas Center with 17 percent and Manila Bay area with 11 percent,” Macaranas said. 

He added supply in 2018 is expected to reach 27,200 units, a record high for Metro Manila, with the completion of multiple projects, putting upward pressure on condominium vacancy to reach mid-teen levels by yearend. 

“However, with fewer completions expected in the years that follow, we project that vacancy will tumble back to the pre-teens range by 2019 and 2020,” Macaranassaid. 

For the fourth quarter of 2017, Metro Manila vacancy was largely flat at 12.6 percent from the previous quarter’s 12.7 percent, primarily due to delays in construction during the period and the rental market demand from young professionals. 

Colliers noticed a growing community of Chinese and Korean nationals in CBDs more recently. 

“Primary CBDs saw marginal changes in vacancy from last quarter. Manila Bay Area and Fort Bonifacio have highest vacancy driven by the size of stock available in these locations. Manila Bay Area vacancy improved from 18.3 percent to 17.2 percent. We attribute this to the absence of new supply in the location during the quarter and the growing demand from employees of offshore gambling companies which typically look for residential component to complement their office space requirements,” it said. 

Colliers noted a slight increase in vacancy at Fort Bonifacio from 15.3 percent to 15.7 percent given the new supply in the area, offset by demand from young professionals.
Category: 
Rating: 
No votes yet

Column of the Day

The remunerative rice importation

By DAHLI ASPILLERA | February 16,2018
‘The Foreign Corrupt Practices Act of 1977 (FCPA) (15 U.S.C. § 78dd-1, et seq.) is a United States federal law known primarily for its main provision: Against bribery of foreign countries’ food management officials.’

Opinion of the Day

Duterte’s tentacles

By DODY LACUNA | February 16, 2018
‘The PNP and DOJ charged by law to accord protection... will offer no refuge for Atty. Sabio.’