Real Estate Documentation Process in times of New Normal

It has been 19 months since the shutdown of our economy with almost 3 million Filipinos were infected with almost 2.5 million recovered while almost 39,000 were casualties as of this writing. The Philippine economy is still sluggish and slightly opening up the market but slowly recovering. The market is experiencing resistance from external forces such as world economic downturns from the pandemic, demand for oil for production by China and many others. Recently, Chinese economy was affected with the collapse of Evergrande. This incident does not affect the Philippine market as Evergrande it has no links or affiliates in Philippine real estate.  

Inside Real Estate: The Rise, Fall and Redemption of the Xevera Communities in Pampanga

 

 

It has been a year since the distribution of the transfer certificate of titles of the unit owners who have completed their payments previously and are currently residing in the two Xevera subdivisions in Bacolor and Mabalacat City and the Sameera Subdivision in Angeles City. In the past decade, Globe Asiatique Realty Holdings Corporation under the leadership of their then president and CEO, Delfin Lee. Globe Asiatique Realty Holdings, Inc. (GA) was the one of the leading real estate development firms in Pampanga and other parts of the country.

Inside Real Estate: Condo or House Pasalo Phenomenon

 Have Condo or House Pasalo ring a bell to your ears?

It has been a recent phenomenon for investors in the past year since we went to a standstill a year ago, those initial investor who wish to immediately divest their real estate properties particularly residential condominiums, townhouses and homes in National Capital Region (Metro Manila) and elsewhere in the Philippines. In this topic, we will focus more on residential condominium which played a significant number of cases for assume balance.  A condo unit's assumption of balance (known as Condo Pasalo) from banks or other financial institutions where unit owners are currently struggling to keep up their payments of this supposed income producing investments as they became white elephants when the pandemic hit the country. The real estate sector almost near rock bottom where the residential condominium segments were the hardest hit at - 15% drop with residential leasing for condo significantly drop because of many factors  but there were definite increase in sales on residential properties outside of NCR and the townhouses in the city.