is it too soon to ask a question like this and who would know what the answer would be,
The price of land in and around Bohol has been increasing lots over the past few years,
Has what happened in the last week changed that, will people think its not the place to buy and will people have to reduce there prices if they want that buyer, also will the airport that is planned for panglao stop or be put on hold
If you find the person who know's those answers then you've probably found the richest person in the world.
The biggest question is why
Are you potentially buying as an investment, if so over what term?
Are you buying to live or retire there, if so who cares what happens to the price, it's your home
thats why i am asking on here , i am not expecting the one person to know everything but lots of people together may help with the answer
In my own mind I'm pretty satisfied with the 'model' that says that land and property values only grow.Originally Posted by stevewool
In a practical sense such as outcomes of quakes, floods landslides etc then the impact is that property investment ends.
But the land value usually remains in growth in the longer term.
As Simon mentions, it can be significantly different if your talking about property you're not actually living in but solely use as income stream and investment.
Just my 2 centavos
Wouldn't put me off anyway......
The last quake in Bohol was in 1990...A 6.2 ,so hopefully we are not due for another for 23 years or so?? Who really knows..No One.But what with the new fault line discovered in Bohol, it might be a while before we see an impact on property investment, after all, it's not like there is a shortage of other islands to choose from.
Not sure about the other islands you speak of though.. Its pot luck when you decide to visit or live ANYWHERE within the ring of fire!!
In regards property values... We bought a lot in Baguio 3 months before the devastating earthquake there.. We paid 800.00 Per Sqr meter.. Now the value is 15,000 per sqr mtr...
I have been watching with great interest local property prices for over 30 years.. I have never once seen prices come down..Only up.
Yeah, i guess knee jerk reaction will deter some investors but on the whole money will inevitably be spent there. As you say, hard to predict in the Ring of Fire, but at least you can reduce your chances by distancing yourself from any non extinct volcanoes and cliff tops.....
When i was in the elevator today, i was asked by another resident why i wasn't leaving for another condo. I think there is some gossip about the structural integrity of the building and some people are relocating already.
I guess you will be buying more land in Bohol in the near future
Have listened to a few expats over the years telling me how they know that the Philippines will experience a property bubble. After 25 years i am still waiting for their prediction's to become a reality! If you are lucky or clever enough to buy the right piece of land here the value can increase 10 times in a few years. At the worst the value may stay the same, which is not really a problem as you will probably have payed cash.
If/when you build your dream home and want to sell it, then the price might go below what you paid for the land and construction. Most people who have that sort of money tend to want their own design etc...
In my own opinion, I think that land prices on or near the coast within easy reach of an airport is a fairly safe investment. If you look at prices of land in places like Phuket, and then think that it's now possible to fly direct to Manila then the Philippines is going to get very popular over the next few years.
There again I could being talking a load of rubbish, hope not though
I'm always a bit skeptical about buying a plot in Phils. If i was ever to buy, i would have to buy space for a house and then a considerably large space around it. It doesn't have to be necessarily close to an airport either.
In a rapidly developing area, you never know who might plonk a monstrosity right next you or block your view of the sea. All it takes is the popularity of a place to get so much, that along come SM or Robinsons and dump one of their malls. But then again, the further away you are from the developments, the less increase in value of the land maybe.
But what with the new fault line discovered in Bohol, it might be a while before we see an impact on property investment, after all, it's not like there is a shortage of other islands to choose from.
I think there is some gossip about the structural integrity of the building and some people are relocating already.
Understandable and good reason to move IMO!
Its knowing what you want and where you want to be,
Bohol has always been my dream and Ems is willing to go along with where ever i want to be, but her dream is in Marikina,
So its like killing to birds with one stone, make me happy and also make Ems happy
Rent in Bohol until we know this is the palce to be, spend on Ems dads place enough to make it nice and a place to call our home while we are there, that way Ems is happy and i am too, just have to work out the price to make it nice
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