Housing sector sees 15% growth

By Katlene O. Cacho

SUBDIVISION and Housing Developers Association Inc. (SHDA) 7 reported 15 percent to 20 percent growth in the housing sector this year.
“There is a growing market of people who want to own houses,” said Rey Ralota, president of SHDA 7, during the opening of the 2009 Housing Fair and Trade Exhibits held at SM City Cebu Atrium last Friday.
He attributed such growth to Pag-ibig’s six percent interest rate in housing loans and Cebu’s continued growth in business and tourism.
“The expansion of business process outsourcing (BPO), remittances from the overseas Filipino workers (OFW) and the tourism in Cebu have contributed a lot to the
growth of the housing sector,” said Ralota, also president of Ramman Realty.
He noted that about 70 percent of the buyers are from the local market.
“Young professionals, start-up families and OFWs are the major buyers for low- cost houses,” he said.
With the city’s continued expansion in business and tourism, Ralota added, there is no doubt the housing sector will continue to expand.
However, such expansion, he said, will depend on the availability of the government’s funds. “Yes, we can expand so long as the government’s lending portfolio remains the same or will increase,” said JJ Atencio, president and chief executive of 8990 Housing Development Corp.
8990 Housing Development Corp. was able to develop 2,000 housing units this year.
“And we are optimistic that we will develop more housing units in the coming years,” he added.
The SHDA 7, in partnership with the Housing and Urban Development Coordinating Council (HUDCC), is celebrating Shelter Month in October.
The annual housing fair and trade exhibits were conceptualized to shelter the homeless.
“Housing developers are here to exhibit different housing units to address the growing demand for houses in the region,” Ralota said.
Exhibitors
This year’s housing fair is composed of 15 exhibitors in the region, including 8990 Housing Development Corp., PrimeHomes Development Corp., Willow Park Properties, Philippine Estates Corp., Primary Homes Inc., Ramma/Buildrich Realty and Development Corp., Shelter Concepts Inc., Pacific Land Ventures and Property Development Inc., Taft Property Venture Development Corp., ProHomes Development Corp., AboitizLand Inc., Tri Star Paints Center and Construction Supply and Home Development Mutual Fund/Pag-Ibig.
The housing and trade fair exhibit will be until Oct. 30.
Aside from the housing fair, SHDA 7 will also host the Visayas-Mindanao-wide Housing Summit in May next year.
“This summit will focus on sustainable development where issues and concerns on disaster preparedness will be tackled,” Ralota said.
He also added that they will pilot the project on rainwater catchment.
“This is one of the immediate solutions we see on the problems on flooding. With this rainwater catchment, we can conserve and re-use water for other purposes,” he said.


Published in the Sun.Star Cebu newspaper on October 26, 2009.

New law to improve real estate services, industry professionalism

THE Real Estate Service Act of the Philippines (Resa) will improve professionalism in the real estate service industry in the country.

Emily Amie Cabillada of real estate service company F9 Property Development and Consultancy Inc. said accredited real estate service practitioners will be regarded as professionals like engineers, architects and nurses under the law.This, after Resa has moved the regulatory and supervisory authority of the real estate services in the country from the Department of Trade and Industry (DTI) to the Professional Regulation Commission (PRC).

As a result, DTI field offices will no longer accept applications and renewal of licenses of real estate consultants, appraisers, brokers and salespersons starting July 30. All records will be moved from the DTI to the PRC, which will create the Professional Regulatory Board of Real Estate Service.

President Arroyo signed Resa into law last June 29. The law took effect starting July 30.

Under the law, those with expired licenses or those who passed previous examinations but have not applied for a license as of July 29 will be required to take another licensure exam.

“New and tougher requirements have been adopted in the Resa. For example, a broker applicant must be a holder of a relevant bachelor’s degree from a state college or university and other educational institutions recognized by the Commission for Higher Education (Ched),” said Cabillada. She said the PRC will require applicants to be graduates with a bachelor’s degree in real estate service before they can take the licensure exam. The course, though, will still have to be developed by Ched.

For real estate salespersons, there will be no examinations but they will be required to complete at least two years of college education.

Cabillada said this is one way of upgrading the skills and knowledge of real estate service practitioners and informing the public that they will be dealing with professionals.

Resa also mandates all real estate service associations to be integrated into one national organization that will be recognized by the Professional Regulatory Board of Real Estate Service and approved by PRC as the only accredited and integrated professional organization of real estate service practitioners.

The law also provides a fine of not less than P100,000 or imprisonment of not less than two years or both against those who violate it.

INVEST IN CEBU

NVEST IN CEBU MAYOR URGES BUSINESSMEN TO INVEST IN CEBU Mayor Tomas R. Osmeña urges foreign and local businessmen to invest in Cebu amid the political turmoil that the country is experiencing today. ``Cebu is now the best place to do business in the Philippines. We have political and economic stability. The peace and order situation is relatively peaceful,’’ Osmeña said. The rallies and demonstrations calling for President Gloria Macapagal Arroyo's resignation are only confined within Metro Manila, the mayor said. The political and business leaders in Cebu are united. We have a common vision to make the city and the entire province a better place to live in. ``More importantly, we shared a united stand supporting President Gloria Arroyo,’’ said Osmeña, who is now in The Netherlands for an official trip. Aside from the stability in politics and the economy, Osmeña stressed that Cebu has an educated and skilled work force. Cebu City has world-class communication and transportation facilities, making it easy for businessmen and tourists to be connected and travel worldwide. Osmeña said the city will place some advertisements in the leading national dailies urging the investors to do business in Cebu. ``We will show to them (investors) that the Philippines is not Metro Manila. There is Cebu City, which is better for business than Metro Manila,’’ he said. During his state of the city address last week, Osmeña rallied the Cebuanos to take advantage of the political crisis in Metro Manila. ``It is really now our chance to show to Manila that they are no longer the leaders. Cebu will step into their shoes, and we will lead the way,’’ Osmeña stressed in his speech during the Cebu City Council's inaugural session. Osmeña urged Cebuanos not to be bothered by the chaotic political situation in Metro Manila. Instead, he asked the city residents to exercise a strong sense of self-reliance. ``If we, here in Cebu, are just going to react to what we see on the television and read in the newspapers, then we will be a victim of our own sense of pride,’’ Osmeña stressed. Mayor Osmeña, together with the entire city council, department heads, and rank, and file employees, have expressed their full support to President Gloria Macapagal Arroyo. (City Public Information Office) Source: http://www.cebucity.gov.ph

DEVELOPER EYES WORKERS

By Nancy R. Cudis

A REAL estate developer maintains a positive outlook on the housing sector in Cebu amid the global economic slowdown.

Prohomes Development Inc. continues to focus on the local workforce, which it describes as a “resilient” market.



“We are (feeling) the pressure to produce more units to meet the demand,” said Prohomes founder, president and chief executive officer Beverly Dayanan.

Citing figures from the Home Development Mutual Fund (Pag-Ibig Fund), she said the country needs to produce an average of 200,000 housing units every year to meet the demand.

This year, Pag-Ibig Fund plans to release some P43.5 billion worth of funding to developers nationwide, said Victoria dela Peña, department manager of Pag-Ibig Fund Mandaue branch.

About P3.5 billion of the amount is expected to be released for housing development in Cebu.

Dayanan said Prohomes hopes to get P500 to P600 million of the Cebu share, especially when the company has already identified three projects for next year that will collectively produce about 1,000 housing units.

“These projects would translate to a billion (pesos) in sales collections. Our prospects are bright. Our thrust is to continue producing more housing units through Pag-Ibig Fund,” she said.

Prohomes is the sister company of Johndorf Ventures Corp. (JVC), a wholly owned Filipino company with 20 years of experience in building houses and communities.

CEBU MEMORIAL PARK INVESTMENT

Why Invest in Manila Memorial Park CEBU???

It is very fortunate to know that more & more people have known that Memorial Lots are Secured and stable form of investment. The need for a place to be buried is a basic need for all. Changing Economies hardly affect the demand for it.

Memorial Parks in the urban areas are quickly being filled-up. Accessible and Convenient Parks are becoming difficult to find. And with the continued increase in population in the urban areas, the demand for and shortage of memorial park lot becomes more apparent.

Prices of Memorial Lots increase by not less than 15% early this year. Plus, developer gives discounts for cash buyers giving you bigger ROI within the year.

But, we should remember that there are things to consider before putting our hard earned money in this investment.

First, consider the DEVELOPER, the LOCATION, and the nature of DEVELOPMENT. In order to maximize the benefits and protect your investment, the developer must be reliable with a number of years experience in the industry. And with the noted accomplishments and previous projects you can already see.


So when you are thinking of where to put your money..........
THINK Manila Memorial Park, Liloan-CEBU

The Park in Liloan is 16km from Cebu City which is accessible by private and public vehicles (Bus, Jeepney, Tricycle, etc.) via the NATIONAL HIGHWAY.

Manila Memorial Park in Liloan Cebu has 4 LANE ROADS all through out the Park which allow our clients to park their cars NEAREST TO THEIR LOT, giving them convenience in parking.

AMENITIES:

* MODERN DESIGN *CONVENIENCE
Chapel & Admin Bldg. Wide concrete roads, ample
parking spaces, Gazebos &
Comfort Rooms

* LANDSCAPED GARDENS * SECURITY
Lagoon with fountain, 24 hours security, perimeter
Computerize underground fence & night lighting

For your Investment...

BE SAFE. Deal only with PRC Licensed Real Estate Broker.

View more photos, click https://www.cebubai.com/property/manila-memorial-park-cebu/

MYVAN Cityscape Tower

A new 14-storey Condo Residential Hotel will soon rise in F.Cabahug St., Mandaue City. This modern type Residential- Hotel Building is strategically located near Sykes Call Center. It is 5 to 10 minutes drive to SM City and Ayala Business Center and just minutes away from schools, medical centers, shopping malls, golf courses, hotels and much more. A major access road from Cebu to Mandaue and Vice Versa.

"MYVAN Cityscape Tower" is the third project of MYVAN Properties and Development Inc.
The residences of MYVAN Cityscape will be greeted by a Grand Hotel Lobby. The 2nd floor houses the MYVAN Corporate office¸ 3rd ­ 9th floor is for the Condotel Units¸ and 10th ­ 16th floor is the residential units. The roof deck includes swimming pool¸ function room, and viewing deck with 360degree panoramic view to Cebu, Mandaue & Mactan Island.
An ideal destination to end your taxing day, MYVAN CITYSCAPE TOWER gives you the full comfort of luxurious yet practical living¸ with its bar and restaurant, coffee shop and many more located at its ground floor level. It surely is the welcoming atmosphere you crave after the long day at work. Just like any individual who experiences the daily demands of the city life¸ capping your day with a drink and a flavorful of aromatic dishes is a start of the daily relaxation you deserve. Before ending your day¸ make a beeline for the pool and let the warm water drain those tired muscles away. And after¸ take solace at your one or two-bedroom sanctuary where you can capture the nightlights from your big glass windows. A perfect place to make your every day end right.

Location Map

Myvan Cityscape Tower Location Map
Available Units

Studio 20.17sqm Php1.2 to 1.5M
1-2 Bedroom 40.34sqm Php2.5 to 3M
2-3 Bedroom 60.51sqm Php3.8 to 4.5M
3-4 Bedroom 80.68sqm Php5.1 to 6M

For Inquiries:

Call: +63 32 5169798
Email: cocomaria15@yahoo.com

Pag-IBIG lowers housing loan rates anew

Pag-IBIG lowers housing loan rates anew

April 03,2009

VICE President and Chairman of the Housing and Urban Development Coordinating Council (HUDCC) and the Home Development Mutual Fund (Pag-IBIG Fund) Board of Trustees, today announced further adjustments to its end-user financing program, this time creating additional housing loan brackets with corresponding lower interest rates. The rate adjustments are aligned with the redefined housing packages set by the HUDCC.

The new Pag-IBIG housing loan interest rate structure retains the 6%-rate for loans up to P400,000, and 7% for loans over P400,000 up to P750,000.

Interest rates have been slashed from 10.5 percent to only 8.5% for loans over P750,000 up to P1 million, and to 9.5% for loans over P1 million to P1.25 million.

Meanwhile, interest for loans over P1.25 million to P2 million remains at 10.5%.

Along with the latest rate adjustment, the Pag-IBIG Board also approved the increase in maximum loanable amount to P3 million, at an interest rate of 11.5% per annum for loans starting at over P2 million.

De Castro said the latest amendments in the Pag-IBIG housing loan program are intended to make the program more affordable to members, especially workers in highly-urbanized areas whose housing needs often range from more than P750,000 up to 1 million. Likewise, with the Board’s approval of raising the loan ceiling to P3 million, Pag-IBIG will be able to meet the home financing needs of members belonging to the middle-income earners. “This should give Pag-IBIG members a wider range of choices in buying a house,” he said.

Over the last two years, the Fund has implemented significant improvements in its end-user financing program. In 2007, Pag-IBIG has reduced the interest rates for loans over P300,000 to P750,000 from 10.5% to 7%. Earlier this year, the socialized housing bracket was expanded to cover loans of up to P400,000.

With the new changes taking effect April 1, Pag-IBIG member-borrowers can look forward to more value for their money as well as savings especially at this time of economic difficulties. “The savings given the lower monthly amortizations should convince Pag-IBIG members that buying their own home is a more practical alternative to renting,” De Castro added.

Members who avail of a P1 million housing loan stand to save 15.94% per month with amortizations of only P7,689.13 (covering principal and interest) over a 30 year period, compared to P9,147.39 under the old rate of 10.5%.

Year-on-year figures show the Pag-IBIG Fund is able to maintain the growth in its housing loan takeout. From P4.59 billion, the Fund recorded a P5.83 billion total takeout from January to February of the current year, representing a 27% increase.

“The demand for housing, especially from the low and middle-income earners, continues to be strong despite the global financial crisis,” he said.

Following these amendments in the Pag-IBIG housing loan program, the Fund expects to maintain a steady growth in loans granted to members and attain its target of P43 billion takeout for 2009. “This will further sustain the housing sector by providing financing to home buyers at very attractive, affordable rates,” De Castro said. (end)