Hello.. I need an opinion from you guys...My boyfriend is visiting Philippines on Nov. He talked to a british guy in Cebu and told him about the house and lot for sale. The land area is 175 sq.m and floor area is 100 sq.m. It is located in Azienda Milan Talisay Cebu,a first class subdivision. It includes 3 bedroom, 2 bathrooms, balcony, good garden and garage.The price is 3 million pesos. What do you think, is it a good price? I need all your advises regarding this matter. Thank you
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that is a good price for meOriginally Posted by Marwin08
all things are possible!
hmmm a little too pricey i think, we brought a lot 800sqm for 1.4 built a house for a little over 1m, or maybe its just cheaper in our city. just try looking around maybe you find a better value house for less.
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From my own research here in Cebu property values are artificially high and have stalled out at the moment.....plots tend to be tiny and often they are very poorly designed, stair cases taking up the space, to steep tiny bedrooms and unless you supervise the building yourself cement can cover a multitude of shoddy and sub-standard building practice so my advice is don't buy anything in a hurry, rent first and have a really good look , make connections with folk who are living here and consider for example looking at BPI foreclosures as they sell them for the outstanding mortgage values not the notional value
The impressions I am getting here is that REAL bargains are possible if you are prepared to be patient and thorough
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Ask for discount (tawad) if he smart enough ,he can get it possible 2.5 M
Good luck
P.S
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i think thats a very good price.
I would thinkFrom my own research here in Cebu property values are artificially high and have stalled out at the moment.....plots tend to be tiny and often they are very poorly designed, stair cases taking up the space, to steep tiny bedrooms and unless you supervise the building yourself cement can cover a multitude of shoddy and sub-standard building practice so my advice is don't buy anything in a hurry, rent first and have a really good look , make connections with folk who are living here and consider for example looking at BPI foreclosures as they sell them for the outstanding mortgage values not the notional value
The impressions I am getting here is that REAL bargains are possible if you are prepared to be patient and thorough
I would think many larger plots and houses in Cebu and Manila are purchased and financed by people from countries who recently had a boom in propety and now its receding. Mnay not living there full time im sure will want to bail out and then bargins will be aplenty.
I remeber looking at one of the banks repossed housing lists a few years back and the value was very good. Also buying off the bank you should be ok with regards land titles and what have you i guess?
I noticed whilst in Angeles (albeit a couple of years ago now) you could buy a brand new Barratt style house build to foreign(American) spec standards for 35 million. Angeles is a very expensive place to buy though, or was. So I dont think its a bargain, but its about the current market price.
I think the advice, especially in todays environment, given by Keith and Angel is very good and I would follow their idea. Real bargains can be had almost anywhere at the moment, especially in PI.
Wena&Russ
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