ARTA says validity of electronic signatures cleared by CoA
philippine real estate news
by
3y ago
December 21, 2020 | 7:39 pm [ bworldonline.com ] THE Anti-Red Tape Authority (ARTA) has confirmed that electronic signatures may be used for government permits and licenses. In a statement Monday, ARTA said it arrived at this determination after consulting with the Commission on Audit (CoA). ARTA said it is seeking to address reluctance expressed by government agencies after the authority rolled out its guidelines on the use of digital signatures through the Philippine National Public Key Infrastructure. CoA told ARTA that the digital signatures may be used as long as they comply with govern ..read more
Visit website
Developers granted 3-year extension to comply with accounting norm on borrowing costs
philippine real estate news
by
3y ago
December 17, 2020 | 7:48 pm [ bworldonline.com ] THE Securities and Exchange Commission (SEC) has granted property firms more time to implement an accounting standard governing the treatment of borrowing costs, citing the need to provide relief to the industry during the financial crisis. In a memorandum circular on its website, the SEC said the extension applies to accounting treatments raised by the Philippine Interpretation Committee and the International Financial Reporting Standards Interpretations Committee concerning Over Time Transfer of Constructed Goods. The accounting treatment of ..read more
Visit website
Cap on residential rent hikes to remain in force until end of 2021
philippine real estate news
by
3y ago
December 17, 2020 | 7:50 pm [ bworldonline.com ] WWW.NHA.GOV.PH THE cap on residential rent increases will remain in force for another year, to the end of 2021, according to the National Human Settlements Board (NHSB). In resolution 2020-04 published Wednesday, the NHSB said a 2% cap on rent increases applies to those paying monthly rent of up to P4,999. The maximum rent hike is set at 7% for those paying monthly rent of between P5,000 and P8,999, and 11% for those paying between P9,000 and P10,000. The guidelines apply to residential units occupied by the same lessee. If the unit is vacated ..read more
Visit website
Floods hurt property valuations in Marikina
philippine real estate news
by
3y ago
December 15, 2020 | 12:01 am [ bworldonline.com ] PARTS OF Metro Manila experienced heavy flooding when a string of typhoons hit the country in November. Sheila G. Lobien, CEO of the Lobien Realty Group, said in a statement the property valuations in flooded areas have been severely affected. She noted land values in Marikina are around P40,000 to P70,000 per square meter (sq.m.), just below Caloocan land values of between P35,000-P65,000 per sq.m. To compare, land valuations in Muntinlupa/Alabang are between P120,000-P140,000 per sq.m., while those in Quezon City, Ortigas and Bay City peak ..read more
Visit website
More property seekers eyeing house and lots
philippine real estate news
by
3y ago
December 8, 2020 | 12:06 am [ bworldonline.com ] MORE PROPERTY seekers are interested in buying house and lot properties as well as land-only projects due to the lockdown, online property marketplace Lamudi said in a report on Monday. “After the experience of staying at home for a long period, property seekers appreciate larger floor areas in their property. House and lots and land-only projects have captured great interest as preferences for the living set-up tilt to horizontal developments,” Lamudi said in its third quarter report. House and lot properties remained the most popular listing ..read more
Visit website
Why offices are likely to change, not disappear after pandemic
philippine real estate news
by
3y ago
December 8, 2020 | 12:05 am [ bworldonline.com ] MANY FILIPINOS were forced to work from home during the lockdown in Metro Manila. — COMPANY HANDOUT By Arjay L. Balinbin, Senior Reporter DESPITE THE work-from-home boom and accelerated digital transformation, offices are not likely to disappear after the pandemic, a real estate expert said. “If I talk about the shape of the future of our offices, they are not going to disappear. The office will stay. It will stay in a different shape,” Christophe Vicic, country head of JLL Philippines, Inc., said during the recent BusinessWorld Virtual Econom ..read more
Visit website
Pandemic seen to give Metro Manila a chance to correct urban planning errors
philippine real estate news
by
3y ago
December 1, 2020 | 12:02 am [ bworldonline ] TEMPORARY bike lanes were installed along EDSA during the lockdown, May 24. — PHILSTAR/MICHAEL VARCAS By Cathy Rose A. Garcia, Managing Editor THE PANDEMIC has exposed the vulnerabilities of mega-cities like Metro Manila, but it also offers a once-in-a-lifetime opportunity to correct urban planning mistakes, a top urban planner said. Palafox Associates Founder and Principal Architect Felino “Jun” Palafox, Jr. said the pandemic is forcing cities around the world to rethink urban development for the “new normal.” “I think cities will bounce back and ..read more
Visit website
DoubleDragon files REIT application with SEC
philippine real estate news
by
3y ago
November 24, 2020 | 12:05 am [ bworldonline.com ]   DDMP REIT, Inc. has submitted an application to the Securities and Exchange Commission (SEC) for a real estate investment trust (REIT) offer. The firm, formerly known as DD Meridian Park Development Corp., on Monday submitted to the SEC its REIT plan to sell to the public 5,942,488,469 common shares at P2.25 apiece, with an over-allotment option of up to 594,248,847. The shares include existing common shares offered by DoubleDragon Properties Corp., Benedicto V. Yujuico and Teresita M. Yujuico. The company will not receive proceeds, b ..read more
Visit website
Makati seen to lag in recovery of rent, residential prices
philippine real estate news
by
3y ago
November 20, 2020 | 12:32 am [ bworldonline.com ]  A rebound in rents and residential prices in Makati City is seen by the third quarter of 2022. — REUTERS RENTS and residential prices in the Philippines are expected to start recovering by 2021, except in Makati City which may continue to see a decline for a longer period, a recent survey of real estate agents found. In a Property Survey and Index Q4 2020 report, published by real estate technology group Juwai IQI on Thursday, 192 real estate agents in the Philippines were surveyed and found to anticipate a bounce back in the industry by ..read more
Visit website
Vista Land plans REIT offering, sees recovery signs as income falls
philippine real estate news
by
3y ago
November 17, 2020 | 12:07 am [ bworldonline.com ] FacebookTwitterLinkedIn   VILLAR-LED Vista Land & Lifescapes, Inc. is keen on doing a real estate investment trust (REIT) offering for some of its leasing assets to improve its financial position during the coronavirus pandemic. In a statement on Monday, the property developer said it is  “seriously looking at the possibility of doing a REIT with our 1.5 million square meters GFA (gross floor area) leasing portfolio.” It noted 15% of its leasing portfolio is made up of office spaces occupied by business process outsourcing tena ..read more
Visit website

Follow philippine real estate news on FeedSpot

Continue with Google
Continue with Apple
OR