Archive for 2009

Oakwood Premier Manila soon to offer its new Serviced Aparments

Oakwood, the leading, global serviced apartment provider, today announces its return to Manila with the opening of Oakwood Premier Joy~Nostalg Center Manila.

Located in the business and commercial district of Ortigas, Oakwood greets residents with 233 elegantly appointed apartments, offering a unique combination of hotel-like facilities and services with modern home conveniences.

“Manila is important to our international portfolio because of its expanding role in the global community,” says Chris Ahearn, Senior Vice President of Sales and Marketing for Oakwood.

“The occasion is made more significant because we opened the very first Oakwood Premier originally here in Manila.

The addition of this property further marks Oakwood’s commitment to meeting the needs of our global customers.”

The property features studio, one, two and three bedroom apartments, as well as a spacious chairman suite including a pool and Jacuzzi. Each Oakwood apartment offers the following amenities, all included in the cost of the apartment: Read more…

Philippine Real estate loans up 23% in first half of 2009

Local banks in the Philippines reports that real estate loans grew by 23% for the first half of 2009.

Real Estate Loans

According to report the increase was boosted by loans extended in the period despite the tightening of lending standards for residential and commercial borrowers, central bank data showed.

Philippines’ Central Bank showed that total exposure of universal, commercial and trift banks to the real estate sector was P377.8 billion at the end of June.

This was a 2.8% expansion from the P367.6 billion recorded at the end of March, and a 23.3% growth over the P306.3 billion in June of last year.

Loans recorded by banks was composed of loans for commercial and residential purposes and investment in securities that are sold and issued by local real estate firms.

How to conduct real estate negotiations

Once the home buyer has selected a home for which he or she is ready make a formal offer, there are several basic principles which he or she should follow to successfully conduct and conclude a negotiation.

Real Estate Property

Before submitting the offer verbally or in writing through a letter of intent or other such document, or starting negotiations, he should become familiar with these principles.

Buyer should realize that hallmark of a successful negotiation is to create a win–win situation where both parties can walk away with satisfaction. Read more…

Typhoon Ondoy damaged real estate to dampen property market

The damage to real estates caused by Typhoon Ondoy in Metro Manila and nearby areas has a dampening effect to some extent on investors in the property market in the affected areas.

Jaime Ysmael, senior vice-president and chief finance officer of Ayala Land Inc. (ALI), made this assessment on the impact of the flooding in those areas on the local property market.

“It will dampen the interest of investors which is a natural reaction but we cannot be sure it is a permanent thing because people forget,” Ysmael said. Read more…

Ayala Land to venture into economic housing development

Ayala Land Inc. (ALI), the property arm of conglomerate Ayala Corp., will develop a 20-hectare lot near the Sta. Rosa, Laguna-Tagaytay area with an estimated development cost of P2 billion.

This was revealed by Jaime Ysmael, senior vice-president and chief finance officer of the Ayala Land Inc., to reporters at the launch of the Certificate of Real Estate Investment Finance (CREIF) program.

He said the new development would start in the first half of next year. Read more…

Condominium living, the answer to modern residential woes?

A Filipino’s first dream is to have a house of his own before anything else but with the skyrocketing prices of land and construction materials, few are able to get it, specially in the metropolis where everything is expensive.

A house and lot double as investment and family comfort zone but in the big cities where cash makes life go round, it can also be a burden to the older people, particularly the retirees who must pay escalating tax on real estate properties.

When the children have grown up and are on their own, parents tend to be alone in a house, which could be costly to maintain especially in a bustling city. Read more…