May 25, 2018, 8:30 pm
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1 Philippine Peso = 0.06987 UAE Dirham
1 Philippine Peso = 2.04394 Albanian Lek
1 Philippine Peso = 0.03405 Neth Antilles Guilder
1 Philippine Peso = 0.46707 Argentine Peso
1 Philippine Peso = 0.02507 Australian Dollar
1 Philippine Peso = 0.03386 Aruba Florin
1 Philippine Peso = 0.03804 Barbados Dollar
1 Philippine Peso = 1.58684 Bangladesh Taka
1 Philippine Peso = 0.03178 Bulgarian Lev
1 Philippine Peso = 0.00718 Bahraini Dinar
1 Philippine Peso = 33.30759 Burundi Franc
1 Philippine Peso = 0.01902 Bermuda Dollar
1 Philippine Peso = 0.02521 Brunei Dollar
1 Philippine Peso = 0.13049 Bolivian Boliviano
1 Philippine Peso = 0.06941 Brazilian Real
1 Philippine Peso = 0.01902 Bahamian Dollar
1 Philippine Peso = 1.2997 Bhutan Ngultrum
1 Philippine Peso = 0.18862 Botswana Pula
1 Philippine Peso = 380.82557 Belarus Ruble
1 Philippine Peso = 0.038 Belize Dollar
1 Philippine Peso = 0.02456 Canadian Dollar
1 Philippine Peso = 0.01888 Swiss Franc
1 Philippine Peso = 11.92087 Chilean Peso
1 Philippine Peso = 0.1215 Chinese Yuan
1 Philippine Peso = 54.23245 Colombian Peso
1 Philippine Peso = 10.69241 Costa Rica Colon
1 Philippine Peso = 0.01902 Cuban Peso
1 Philippine Peso = 1.79018 Cape Verde Escudo
1 Philippine Peso = 0.41871 Czech Koruna
1 Philippine Peso = 3.37645 Djibouti Franc
1 Philippine Peso = 0.12092 Danish Krone
1 Philippine Peso = 0.9416 Dominican Peso
1 Philippine Peso = 2.20987 Algerian Dinar
1 Philippine Peso = 0.25394 Estonian Kroon
1 Philippine Peso = 0.33993 Egyptian Pound
1 Philippine Peso = 0.51779 Ethiopian Birr
1 Philippine Peso = 0.01623 Euro
1 Philippine Peso = 0.03907 Fiji Dollar
1 Philippine Peso = 0.01422 Falkland Islands Pound
1 Philippine Peso = 0.01425 British Pound
1 Philippine Peso = 0.08823 Ghanaian Cedi
1 Philippine Peso = 0.89024 Gambian Dalasi
1 Philippine Peso = 171.23835 Guinea Franc
1 Philippine Peso = 0.13955 Guatemala Quetzal
1 Philippine Peso = 3.93875 Guyana Dollar
1 Philippine Peso = 0.14924 Hong Kong Dollar
1 Philippine Peso = 0.45305 Honduras Lempira
1 Philippine Peso = 0.11993 Croatian Kuna
1 Philippine Peso = 1.23264 Haiti Gourde
1 Philippine Peso = 5.18261 Hungarian Forint
1 Philippine Peso = 268.49914 Indonesian Rupiah
1 Philippine Peso = 0.06761 Israeli Shekel
1 Philippine Peso = 1.28921 Indian Rupee
1 Philippine Peso = 22.52235 Iraqi Dinar
1 Philippine Peso = 800.64676 Iran Rial
1 Philippine Peso = 2.00476 Iceland Krona
1 Philippine Peso = 2.38368 Jamaican Dollar
1 Philippine Peso = 0.01348 Jordanian Dinar
1 Philippine Peso = 2.08195 Japanese Yen
1 Philippine Peso = 1.91839 Kenyan Shilling
1 Philippine Peso = 1.2975 Kyrgyzstan Som
1 Philippine Peso = 77.23036 Cambodia Riel
1 Philippine Peso = 7.96595 Comoros Franc
1 Philippine Peso = 17.12003 North Korean Won
1 Philippine Peso = 20.46376 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.0156 Cayman Islands Dollar
1 Philippine Peso = 6.24805 Kazakhstan Tenge
1 Philippine Peso = 158.41735 Lao Kip
1 Philippine Peso = 28.6285 Lebanese Pound
1 Philippine Peso = 3.00552 Sri Lanka Rupee
1 Philippine Peso = 2.59102 Liberian Dollar
1 Philippine Peso = 0.23569 Lesotho Loti
1 Philippine Peso = 0.05799 Lithuanian Lita
1 Philippine Peso = 0.0118 Latvian Lat
1 Philippine Peso = 0.02586 Libyan Dinar
1 Philippine Peso = 0.18008 Moroccan Dirham
1 Philippine Peso = 0.31929 Moldovan Leu
1 Philippine Peso = 0.99391 Macedonian Denar
1 Philippine Peso = 25.77516 Myanmar Kyat
1 Philippine Peso = 45.76412 Mongolian Tugrik
1 Philippine Peso = 0.15373 Macau Pataca
1 Philippine Peso = 6.73388 Mauritania Ougulya
1 Philippine Peso = 0.65627 Mauritius Rupee
1 Philippine Peso = 0.29618 Maldives Rufiyaa
1 Philippine Peso = 13.63553 Malawi Kwacha
1 Philippine Peso = 0.37196 Mexican Peso
1 Philippine Peso = 0.07566 Malaysian Ringgit
1 Philippine Peso = 0.23683 Namibian Dollar
1 Philippine Peso = 6.82899 Nigerian Naira
1 Philippine Peso = 0.59717 Nicaragua Cordoba
1 Philippine Peso = 0.15404 Norwegian Krone
1 Philippine Peso = 2.06962 Nepalese Rupee
1 Philippine Peso = 0.02745 New Zealand Dollar
1 Philippine Peso = 0.00732 Omani Rial
1 Philippine Peso = 0.01902 Panama Balboa
1 Philippine Peso = 0.0621 Peruvian Nuevo Sol
1 Philippine Peso = 0.06201 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.19897 Pakistani Rupee
1 Philippine Peso = 0.06975 Polish Zloty
1 Philippine Peso = 108.10348 Paraguayan Guarani
1 Philippine Peso = 0.06924 Qatar Rial
1 Philippine Peso = 0.0751 Romanian New Leu
1 Philippine Peso = 1.17631 Russian Rouble
1 Philippine Peso = 16.13468 Rwanda Franc
1 Philippine Peso = 0.07134 Saudi Arabian Riyal
1 Philippine Peso = 0.15092 Solomon Islands Dollar
1 Philippine Peso = 0.25547 Seychelles Rupee
1 Philippine Peso = 0.34155 Sudanese Pound
1 Philippine Peso = 0.16566 Swedish Krona
1 Philippine Peso = 0.02546 Singapore Dollar
1 Philippine Peso = 0.01422 St Helena Pound
1 Philippine Peso = 0.42241 Slovak Koruna
1 Philippine Peso = 149.32471 Sierra Leone Leone
1 Philippine Peso = 10.69051 Somali Shilling
1 Philippine Peso = 397.78391 Sao Tome Dobra
1 Philippine Peso = 0.16644 El Salvador Colon
1 Philippine Peso = 9.79608 Syrian Pound
1 Philippine Peso = 0.23678 Swaziland Lilageni
1 Philippine Peso = 0.60662 Thai Baht
1 Philippine Peso = 0.0483 Tunisian Dinar
1 Philippine Peso = 0.04363 Tongan paʻanga
1 Philippine Peso = 0.08961 Turkish Lira
1 Philippine Peso = 0.1286 Trinidad Tobago Dollar
1 Philippine Peso = 0.56886 Taiwan Dollar
1 Philippine Peso = 43.27563 Tanzanian Shilling
1 Philippine Peso = 0.49705 Ukraine Hryvnia
1 Philippine Peso = 71.0291 Ugandan Shilling
1 Philippine Peso = 0.01902 United States Dollar
1 Philippine Peso = 0.5933 Uruguayan New Peso
1 Philippine Peso = 151.83565 Uzbekistan Sum
1 Philippine Peso = 1494.25528 Venezuelan Bolivar
1 Philippine Peso = 433.30797 Vietnam Dong
1 Philippine Peso = 2.03595 Vanuatu Vatu
1 Philippine Peso = 0.04914 Samoa Tala
1 Philippine Peso = 10.63667 CFA Franc (BEAC)
1 Philippine Peso = 0.05136 East Caribbean Dollar
1 Philippine Peso = 10.63667 CFA Franc (BCEAO)
1 Philippine Peso = 1.926 Pacific Franc
1 Philippine Peso = 4.75366 Yemen Riyal
1 Philippine Peso = 0.23681 South African Rand
1 Philippine Peso = 98.716 Zambian Kwacha
1 Philippine Peso = 6.88415 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.
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