Can't believe it's been five years. I remember stumbling upon your channel during the pandemic, feeling so homesick. You guys helped me through those years.
I like that you try different types of resorts either fancy or cheaper version. That resort that you had your lunch has a beautiful view and the food looks yummy. I guess they take advantage once the place is becoming touristy, then it becomes more expensive. See you on the next vlog.
It's not for Filipinos it's for foreigners and for the elites to flock to our hellish island. Come to think of our regular Filipino wage, do you think a minimum wage earner can purchase one of these "low price" condos? Maybe a low price for the elites but for some it's a no.
@@spikespicegel5572this is exactly why I like the rules around land ownership in the Philippines (and I say that as a westerner looking to retire there). The fact that only Filipinos can own land puts a brake on a potential property bubble. If they ever removed that, the explosion in condo prices you’ve seen would spread right through the market. The last thing I want to see is the same out pricing of the next generation we’ve seen throughout the west happening there.
Hard to comment if it's a crisis. I have witnessed the 90's Asian Financial Crisis (started by collapsed of property market). A lot of banks was closed and merged. The government (Finance Department) has learned lessons and implement to at least managed the property collapsed in the future. Example of this is to limit banks exposure to property development. Also, the finance department periodically (randomly) test the banks (to big to fail). At the end, the marginalized are most affected in any crisis. Pardon my English/grammar
We looked into condos last week in Cebu. I was shocked on how much they wanted to get a parking space $30,000. US dollars. Megaworld is crazy expensive to buy here. We have land and we decided to build a small house instead. Thanks for telling people about this issue Jay.
@@diegohorton869 agreed mate...its replicating itself around the capital cities in Philippines....but move a little out and you will find some opportunities
@ When I left the UK in 1977 to go off and work in Africa inflation was around 20% and you were only allowed to take £125.00 out of the country in cash and there was no plastic in those days so you aint seen nothing yet. By the way in the mid 90s interest rates on a mortgage was running at 15.25%.
You’re right about when you do build to make sure you’re present most of the time. I wouldn’t trust the contractors even if you know them. Hard to find a good one in my experience. Make sure you have a contract with payment installments. Don’t go for their lies when they want an early payment. Make sure to tell the contractor that he needs to respect what the contract agreement says. They will have many excuses like a family member is very sick and no one can help.
I think not trusting a family member with a financial scenario would be the top issue. Money and family, friends, and strangers don't belong in the same room. Expect money to be a big curse and don't f around and find out.
Renting is the best option, as there is an oversupply even in rentals, so plenty of leverage for the renter. I have been advised by a few savy filipinos the only developer to buy from is ayala. The problem is they offer you less for more money, because of their top tier reputation. Prices are in need of a correction and is part of the real estate market cycle everywhere.
How do most of you guys still balance life, even with the downturn of the economy and ever increasing life standards. I pray that anyone who reads this will be successful in life 🇺🇸
It's really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It's a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot Madeleine Howells for saving me from huge financial debt with just a small investment.
Wow 😱 Wow 😱 she helped you too? Miss Madeleine Howells is a remarkable individual whom has brought immense positivity and inspiration into my life ever since I lost my job due to some serious illness
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
I'm surprised that you just mentioned and recommended Madeleine Howells, I met her at a conference in 2023 and we have been working together ever since.
I'm reaching out to seek your expertise and guidance on investment opportunities. I've been considering investing in stocks, real estate, or cryptocurrencies, but I'd love to explore more options. Could you please share some additional ideas and recommendations?
Speaking of investments of passive income, i will suggest in invest in either cryptocurrency or Real Estate. Although i invested with assistance of my discretionary fund manager.
Cryptocurrency trading isn't easy, but with the help of an expert and your patience, you can achieve good results and gain a deeper understanding over time.
I've been investing in cryptocurrency through Daniel Cheung FX for over a year now, and it's been a successful experience throughout. I also made my first profit from binary options with the help of Daniel Cheung FX.
I believe that the secret to financial stability lies in having the right investment ideas, which enable you to earn more money. While opinions may vary, I personally recommend considering real estate, cryptocurrencies, or stocks as potential investment options.
Ebs and flows my friend just a matter of cycles and history repeating....hold for the long term then dont stress....but opportunities are presented during this bearish times
That's 3 years IF they don't build any more to clear the existing empty units..was just in Cebu,could count 7 tower cranes from our hotel window and keep in mind that's one direction looking out only..
Check that all wooden materials are treated from termites. I guaranty you that is one of the biggest problems if not the biggest in the construction materials in the country.
Thats normal mostly everywhere in these countries the big investors move in , would not say its a crash but it can be difficult to sell if you have bought a property
Hello John. We built our 3 Bed house and Church four years ago in Camarines Sur by the sea. Luckily my wife had a plot of land in the family village and was built before the inflation bubble. We estimate the property would cost 50% more to build now. My wife was on site with her interior design ideas and we had an excellent skilled foreman.
Buyers realized that condo buildings are not a long term investment. Buildings are only good for certain years…15 to 25 years. Then structures starts to deteriorate.
I disagree with you. It's a myth. Concrete structures won't deteriorate after 25 years as you said. High rise structures are structurally designed to withstand even earthquakes and it has a fire protection system.
You also don't own the land. You may be "buying" the space but you still pay property taxes for a land you don't own and admin/association fees. Some of these developers only lease the land. Wonder what happens when that lease is over.
@@bimz2710Shelf life for buildings is 50yrs. Makati had those old bldgs (some of which are still standing) that have been retrofitted or completely torn down.
Hi Jay, I'm a civil engineer in the Philippines. I hope you get a quote for a standard concrete/CHB build before going for the steel structure build. It might end up costing you at least 2x more but if you are willing to spend for sustainability by all means. Also, take in consideration how far your property is from the sea, I'm sure you are familiar by now how corrosive the sea winds are. Looking forward to seeing your Siargao dream home in the vlogs.
The prices in Asia never drop the vendors will just wait for the market to move up again and then they will sell. They are happy to keep the property on the market for years until they achieve their price. Rents will drop and maintenance will be bad but the sale prices will not drop.
9 дней назад+1
Until they absolutely crater like they have so many times before in Asia. The reluctance to sell is tied into the “saving face” phenomenon in Asia. Pride before profits 😂
You can still walk around like they do. Don’t exaggerate. It‘s not like Tottenham or so everywhere in the UK. But interestingly enough: The UK is under almost total surveillance but the Phillipines seem safe enough without all that!
That's how they do business in the Philippines, different from Western countries. Eventhough there is a massive oversupply of Condos here, Developers still will not be willing to bring down the prices as dictated by the market. They will lower it just a bit and offer some promos like easy payment plan but just like I've said they will stick to what they want as far as pricing goes. They are not willing to take losses.
I'm renting a condo in a 6 year old development in Cebu. If I hadn't been told the age, I'd have assumed it was 15-20 years old. The maintenance is none existent and the building quality is rock bottom... I own a condo in Thailand and even compared to there (Which isn't exactly known for build quality), here is another world of bad buildings, right across the different price ranges...
They shouldn't. Cubo its overpriced in my opinion. I stopped by their showroom in Manila, and after comparing the price per sq mtr? its best to hire a local company to construct.
@@8milesfromhome Are you going to have anymore children? It's a tough challenge with 4 children but a lovely family atmosphere when the boys are on good behaviour.
If you want formally trained contractors to build your house in Siargao then you have to bring them over from Manila but that will translate to higher costs. The thing is you made a choice to live in an underdeveloped island but expect the same standards as in a highly urbanized city.... Perhaps you should start asking all major property developers to start masterplaning the island so gentrification can start to kick in. On the side note, condos are still a good investment. Take a look at history no matter where you are in the world, real estate slump is only temporary! It always bounces back. Real estate is a tangible asset and you can't go wrong on such investment unless you bought a property that would be submerged in water 10 years from now then that is what you call a screw up.
I have been following the real estate problem in Manila, especially around BGC. Since POGO was closed down in the Philippines most if not all the people running POGO have left the Philippines (deported) leaving hundreds of empty condos, which has put the developers in a spin. Buying or even renting condos now is a dodgy investment and they are still building, the problem is the developers, or at least some are financial institutions, BDO being one of them which puts them in dire position because they to borrow money to build condos and if don't sell them they will default on the repayments to their lenders and so on. I think you are wise at this time to ride it out until the dust has settled. Nothing in the Philippines lasts.
Yes my friend was renting to pogo staff when it was legal for 60,000 a month. Once pogo was outlawed it left their unit empty and eventually rented it for 30,000 a month. Bad for real estate investors but great for renters.
I think buying a property “as an investment” needs to come to an end, and fast. Investors inflating the housing market breaks the generational social contract. Besides, it’s not actually a great investment. The same cash dumped into a global tracker will appreciate quicker and will have greater liquidity - though I appreciate people like to invest in things they can touch and see. If you buy your home to live in it though - you don’t care what happens to the housing market.
If you don't need to be in the city live by the beach, as long as there is a decent sized city center in the area you have everything you need. Small one bedroom apartments do not have utility you cant raise a family in one. Larger units are a bit better but you are still liable if your building needs major repairs which they will when the building ages
you can practice your swimming breathing rhythms anytime even outside of the water story! its a good way to learn how important breath control is in many aspects of life! i once heard somewhere that the main reason doggies cant speak is cause they cant control their breathing. congrats on crossing the pool for your first time kiddo!! thats a huge milestone!🎉 i still remember my first full crossing and now my personal best stands at 88 full laps nonstop! one day youll probably pass that easily though 😂🎉
Real Estate crisis? There is an oversupply of mid range condo. But high end and low end condo. Demand is still high. So far, I havent seen any condo giving huge discount. I have 3 condos in Metro Manila.
let the foreign vloggers rant about it to pressure developers to sell it at a lower price. Theyre really pissed off 😂Hope the Philippines wouldnt give in. Hayaan nyo sila. 😂
@@ßhopkins correct. They expect that they can get condo at a bargain price. They want to live in BGC, Makita and Ortigas but not willing to price the price. But, I guess we need to pressure the developer too. OA na ang price nila per SQM
@@macolet9711 greedy ang developers pero salbahe rin un vloggers who take advantage and release videos discouraging others not to buy. So patigasan sila jan.
@Saeedmustapha-v1l check it out yourself. In a separate video, India GDP growth was first and Philippines, is tied with Vietnam for second place. I didn't made it up. 😊
@JoeyZee-vs4kr I only care about the facts. I'm not sure why you pulled India out of your hat. However, the Philippines' GDP is ranked around 37. I don't care about countries, I care about facts. .
@JoeyZee-vs4kr Philippines was less than 4% in 2014, and there are several countries way way way about that. Guyana is number 1. Listen, man, I am not anti Philippines. However, facts don't change. I come to the Philippines all the time, and my wife is from the Philippines, 35 years of marriage.
Which developers are offering "hefty discounts"? I don't see anyone at least from the major developers but they are offering easier payment terms and early move-in promos.
I would suggest since you love Siargao buy a property here as a corporate with your in laws and build extra cabin for rentals and now when it is low or over supply.
Property in general always goes through cycles of "correction" so you should only invest if you understand the risks/cycles. If you are buying somewhere to live then as long as you can afford it (either paid outright or mortage) then corrections should not be a problem UNLESS again you overstretched or/and relied on low interest rates
false report, there are 6-million housing backlog, the problem is the higher cost of condominium, condominium is good if you will stay in urban areas, metromanila properties are high , if you dont have enough money then go to provinces where u can rent a huge house, condominium in the bgc is good but expensive, so it dpends if you can afford it or not.
Because CONDOS prices are insane. Plus considering the electricity prices, and the quality of construction. Kito famiky, Juicy Vlog got problem with their condos. It's still good to have a house and lot.
I'm actually planning to have condo in manila in about 5 years from now. Evening though I plan to retire in the provinces have my own land its hard to disconnect from the city. I'm from New York so you can understand what I mean. I believe both farm and city life will help my family in the long run especially to love and understand their country.
Forget buying the Condo build in the Provence and rent when you want to go to Manila so when you return to the Provence you leave the costs of upkeep and the headaches of upkeep for someone else.
A kilo of rice is 60peso if you want to sell it for 3000peso then you probably wont find buyers. The price is the value of what someone is willing to pay not what you think it should be. Problem with the condos is they think its worth the sale price but people are showing them that its not... buy a condo in America for the same price, rent it out for $1800/month not 25k peso. You dont need to be a savvy investor you just need to know math
The returns on investment are so bad now in the PH, the maffs is not maffsing 😂 like you said the prices are high enough where you can buy in the US or Europe and get more home for your money! Plus get 3x higher income from it and have a safer transaction without much risk of getting scammed
Developers build and set the price. The developers are essentially the wealthy families who can afford to sit on the properties for decades. The 20% down more than covers the cost of the condo or lot everything else is profit especially the 25-30% interest rates which is of course in house financing. Unlike in other countries, here the price is set by what the seller wants, nothing else, no comps, no market analysis, and no appraisers! It’s the wild west set your price based on pure speculation and your trusted financial specialists family. They sell dreams, nothing more. Buy it and in 5 years you’ll double or triple your “investment” with many condos and lots being bought, repossessed and resold multiple times by the developers. It’s a we tote the note business model and like gambling in Vegas the house always wins.
The construction materials that you find in the Philippines have bad quality. So keep it simple and expect that you will spend more than what was quoted. You definitely have to be around the whole time of the construction to see through the work or it’s going to be a mess. You have to choose yourself the materials or they’ll use the cheapest, bad quality. We built ours 1 1/2 yr ago and still we keep on doing corrections and paying from our own pockets. Workers are not necessarily qualified. Once they get their payment, they’re gone. Find a contractor with good reputation, check the houses he has done, interview the owners if you can. You have to be flexible in your mind that these are Filipino ways coz if you think about it, the cost cannot be compared to the construction in Europe or America. But always remain respectful, polite but firm. You’re there so you know the Filipino ways.
Lol, I feel your pain. Showed a gentleman a design of a 2 compartment sewer pit I wanted built to support our new bathroom. He did what he wanted to do, one compartment.
Ive stayed in many condis in Manila and Cebu, its risky not just because of value. Some have persistent insect infestations, others are not strict about tenants being noisy or having noisy dogs, if you end up with noisy neighbours you're not free to move on.
You re not contended and that's the problem!!! Don't blame how real estate in the Philippines are doing so far! find a real job and don't rely on vlogging which you normally use as click-baiting!
The main problem with condo living is the management costs as you have no control unlike your own lot and house. I bought a lot in the early 80s did nothing with it till 2005 then built a 3 bedroomed bungalow lived in it till 2019 when we returned to the UK making a handsome profit in the process. Simple living is by far the best.
The Condo Market is crashing it's just oversupply due to post-pandemic reasons. They are looking at whether within 5 years there will be an equal footing as time progresses. It's not all over the place it's only in Manila, BGC, and other major cities. Country side doesn't really get affected by this.
Buy a home 😔 n native country and assign to property management company. Income more than covers upkeep and leaves enough to rent a beachfront house. You also gain far more value than a ph property when you sell your property.
Hey, congrats on your decision to avoid the Manila condo! I have a question-since I know foreigners aren’t allowed to own land in the Philippines, how were you able to purchase land? Did you apply for a dual citizenship? thanks!
I also live in the Philippines. I hope you do realize that foreigners are not allowed to own land here, but only lease or rent. Only Filipino citizens are allowed to own land.
Siargao prices of restaurant food and hotel is very expensive like your booking a Marriott , its very expensive for ordinary Filipino who would like to visit. Airport maintaenance is not fixing their toilet instead those ladies just give you bucket of water only and no tissues ti wipe your butt. Its Very sad that they collected money when you arrrive but cannot provide that.
Can't believe it's been five years. I remember stumbling upon your channel during the pandemic, feeling so homesick. You guys helped me through those years.
And it’s nice to see Storm growing to be a fine daughter; and also the number of your subscribers 😊
Did you use shipping containers if so how much are they
We are going with www.cubo.ph
Yes it’s crazy how fast 5 years goes by
This is no crisis at all. If the house prices crash it would be great for Filipinos.
It's considered an economic crisis, but Filipinos and investors that time the market successfully could benefit from a crash. That much is true.
I like that you try different types of resorts either fancy or cheaper version. That resort that you had your lunch has a beautiful view and the food looks yummy. I guess they take advantage once the place is becoming touristy, then it becomes more expensive. See you on the next vlog.
It's not for Filipinos it's for foreigners and for the elites to flock to our hellish island. Come to think of our regular Filipino wage, do you think a minimum wage earner can purchase one of these "low price" condos? Maybe a low price for the elites but for some it's a no.
@@spikespicegel5572this is exactly why I like the rules around land ownership in the Philippines (and I say that as a westerner looking to retire there). The fact that only Filipinos can own land puts a brake on a potential property bubble. If they ever removed that, the explosion in condo prices you’ve seen would spread right through the market.
The last thing I want to see is the same out pricing of the next generation we’ve seen throughout the west happening there.
Hard to comment if it's a crisis. I have witnessed the 90's Asian Financial Crisis (started by collapsed of property market). A lot of banks was closed and merged. The government (Finance Department) has learned lessons and implement to at least managed the property collapsed in the future. Example of this is to limit banks exposure to property development. Also, the finance department periodically (randomly) test the banks (to big to fail).
At the end, the marginalized are most affected in any crisis.
Pardon my English/grammar
We looked into condos last week in Cebu. I was shocked on how much they wanted to get a parking space $30,000. US dollars.
Megaworld is crazy expensive to buy here. We have land and we decided to build a small house instead.
Thanks for telling people about this issue Jay.
@@diegohorton869 agreed mate...its replicating itself around the capital cities in Philippines....but move a little out and you will find some opportunities
So expensive for a parking space….
The UK is now in recession. Nice to see you living the free life, through your hard work
Yes we've been tracking the news on the UK. Things aren't looking great right now
Don't trust any of the contractors in the Philippines. Majority of them are liars, Even if you knew them.Through my experiences xx
@@8milesfromhome At least I'm alive and fighting my unfortunate health condition. Here is so bad now in the UK and is the worst I have known it to be.
@ When I left the UK in 1977 to go off and work in Africa inflation was around 20% and you were only allowed to take £125.00 out of the country in cash and there was no plastic in those days so you aint seen nothing yet. By the way in the mid 90s interest rates on a mortgage was running at 15.25%.
When your money bring in Philippines it’s just like a coins..imagine 1 pound in Philippines 71.25 ..imagine that…
❤ Nice to see you building your house in the Philippines ❤️
Still the plan
@@8milesfromhome Love it. I feel like visiting Siargao to see lovely Story in person ha ha ha....
You’re right about when you do build to make sure you’re present most of the time. I wouldn’t trust the contractors even if you know them. Hard to find a good one in my experience. Make sure you have a contract with payment installments. Don’t go for their lies when they want an early payment. Make sure to tell the contractor that he needs to respect what the contract agreement says. They will have many excuses like a family member is very sick and no one can help.
I think not trusting a family member with a financial scenario would be the top issue. Money and family, friends, and strangers don't belong in the same room. Expect money to be a big curse and don't f around and find out.
Renting is the best option, as there is an oversupply even in rentals, so plenty of leverage for the renter. I have been advised by a few savy filipinos the only developer to buy from is ayala. The problem is they offer you less for more money, because of their top tier reputation. Prices are in need of a correction and is part of the real estate market cycle everywhere.
How do most of you guys still balance life, even with the downturn of the economy and ever increasing life standards. I pray that anyone who reads this will be successful in life 🇺🇸
It's really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It's a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot Madeleine Howells for saving me from huge financial debt with just a small investment.
Wow 😱 Wow 😱 she helped you too?
Miss Madeleine Howells is a remarkable individual whom has brought immense positivity and inspiration into my life ever since I lost my job due to some serious illness
investing with the help of Madeleine Howells advisor set me up for life. Retired with about $1.6m in stock portfolio only. She's a miracle worker
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
I'm surprised that you just mentioned and recommended Madeleine Howells, I met her at a conference in 2023 and we have been working together ever since.
So happy to see things are going well for yall! (:
I'm reaching out to seek your expertise and guidance on investment opportunities. I've been considering investing in stocks, real estate, or cryptocurrencies, but I'd love to explore more options. Could you please share some additional ideas and recommendations?
Investing in Cryptocurrency will surpass your full time job.
Speaking of investments of passive income, i will suggest in invest in either cryptocurrency or Real Estate. Although i invested with assistance of my discretionary fund manager.
Cryptocurrency trading isn't easy, but with the help of an expert and your patience, you can achieve good results and gain a deeper understanding over time.
I've been investing in cryptocurrency through Daniel Cheung FX for over a year now, and it's been a successful experience throughout. I also made my first profit from binary options with the help of Daniel Cheung FX.
I believe that the secret to financial stability lies in having the right investment ideas, which enable you to earn more money. While opinions may vary, I personally recommend considering real estate, cryptocurrencies, or stocks as potential investment options.
With your simple life style close to nature . It is just right that you choose a piece of land in Siargao than a Condo unit in Manila 👍
Ebs and flows my friend just a matter of cycles and history repeating....hold for the long term then dont stress....but opportunities are presented during this bearish times
Thanks for your insight. I always appreciate vloggers like you. 🙂
That's 3 years IF they don't build any more to clear the existing empty units..was just in Cebu,could count 7 tower cranes from our hotel window and keep in mind that's one direction looking out only..
Island life looks great. Love the view from your window, 10min 30sec, it's breath taking. Thanks for sharing
Oh my Story is becoming a gorgeous Young Lady now.😊
Check that all wooden materials are treated from termites. I guaranty you that is one of the biggest problems if not the biggest in the construction materials in the country.
You deserve more viewers.
There’s no crisis. Philippine price is just overpriced and buyers came to realize that.
You cannot look it that way. The economy would suffer then the people suffer
It's called supply and demand. Demand is gone, supply is too high......prices go 👎
@@Jocelyn1975 the people suffer more through higher prices if they cannot afford a house
U mean they are already?
Properties are just worth nothing because locals can't pay.
It will go higher when higher inflation kicks in.
Thats normal mostly everywhere in these countries the big investors move in , would not say its a crash but it can be difficult to sell if you have bought a property
Hello John. We built our 3 Bed house and Church four years ago in Camarines Sur by the sea. Luckily my wife had a plot of land in the family village and was built before the inflation bubble. We estimate the property would cost 50% more to build now. My wife was on site with her interior design ideas and we had an excellent skilled foreman.
Buyers realized that condo buildings are not a long term investment. Buildings are only good for certain years…15 to 25 years. Then structures starts to deteriorate.
We are hearing this more and more.
I disagree with you. It's a myth. Concrete structures won't deteriorate after 25 years as you said. High rise structures are structurally designed to withstand even earthquakes and it has a fire protection system.
You also don't own the land. You may be "buying" the space but you still pay property taxes for a land you don't own and admin/association fees. Some of these developers only lease the land. Wonder what happens when that lease is over.
They don’t build things to last long in the Philippines. Always quantity vs quality
@@bimz2710Shelf life for buildings is 50yrs. Makati had those old bldgs (some of which are still standing) that have been retrofitted or completely torn down.
Hi Jay, I'm a civil engineer in the Philippines. I hope you get a quote for a standard concrete/CHB build before going for the steel structure build. It might end up costing you at least 2x more but if you are willing to spend for sustainability by all means. Also, take in consideration how far your property is from the sea, I'm sure you are familiar by now how corrosive the sea winds are. Looking forward to seeing your Siargao dream home in the vlogs.
It's so beautiful and peaceful. Thank you for always showing us the beautiful Sorigao Island. God bless you and your family 🙏 ❤️
The prices in Asia never drop the vendors will just wait for the market to move up again and then they will sell. They are happy to keep the property on the market for years until they achieve their price.
Rents will drop and maintenance will be bad but the sale prices will not drop.
Until they absolutely crater like they have so many times before in Asia. The reluctance to sell is tied into the “saving face” phenomenon in Asia. Pride before profits 😂
The UK is so dangerous now. Violent crime has risen to seriously high levels. It's very unsafe here
Hope your family is doing ok
You can still walk around like they do.
Don’t exaggerate. It‘s not like Tottenham or so everywhere in the UK.
But interestingly enough: The UK is under almost total surveillance but the Phillipines seem safe enough without all that!
Keep safe always❤
Thank you for sharing your video 😊 God bless 🥰🙏🍀
Can we stop viewing properties as investments but homes. Lets hope they drop so the locals can afford.
Hi Jmayel, Sacha & Story, this is Lizi.. the one who emailed you yesterday 🤗
Thanks for the video. I enjoyed it 😊
Very good move by not buying a condo in the city - you’d be making payments on an asset worth less now than when you bought it.
Wake up. Learn about the secondary market. Invest some time before you invest your money
Makes my heart full seeing you guys safe and living life here to the fullest 😊❤
How do you fund your lifestyle? How do you get around the fact that foregners are not permitted to own land in the Philippines?
To answer your question,Her dad married a Filipino
Hi guys that view of the ocean is superb thank you for sharing your video
I just got back home from siargao. I was very very sad not seeing you guys there. I really hope to see u all someday.. ❤
That's how they do business in the Philippines, different from Western countries. Eventhough there is a massive oversupply of Condos here, Developers still will not be willing to bring down the prices as dictated by the market. They will lower it just a bit and offer some promos like easy payment plan but just like I've said they will stick to what they want as far as pricing goes. They are not willing to take losses.
so i guess they succumb to the pressure by social media
I'm renting a condo in a 6 year old development in Cebu. If I hadn't been told the age, I'd have assumed it was 15-20 years old. The maintenance is none existent and the building quality is rock bottom... I own a condo in Thailand and even compared to there (Which isn't exactly known for build quality), here is another world of bad buildings, right across the different price ranges...
Don't screw up screw in and get a good firm long term hold for Storys future
Hi, so you're not pushing through with the Cubo modular home?
They shouldn't. Cubo its overpriced in my opinion. I stopped by their showroom in Manila, and after comparing the price per sq mtr? its best to hire a local company to construct.
@@axelortiz907 Thanks for the feedback!
"FOOD TEASE" at 9min 24sec loooo Look at Story next to Sacha. Story looks so big now
Yes she's very tall now
@@8milesfromhome Are you going to have anymore children? It's a tough challenge with 4 children but a lovely family atmosphere when the boys are on good behaviour.
If you want formally trained contractors to build your house in Siargao then you have to bring them over from Manila but that will translate to higher costs. The thing is you made a choice to live in an underdeveloped island but expect the same standards as in a highly urbanized city.... Perhaps you should start asking all major property developers to start masterplaning the island so gentrification can start to kick in. On the side note, condos are still a good investment. Take a look at history no matter where you are in the world, real estate slump is only temporary! It always bounces back. Real estate is a tangible asset and you can't go wrong on such investment unless you bought a property that would be submerged in water 10 years from now then that is what you call a screw up.
I have been following the real estate problem in Manila, especially around BGC. Since POGO was closed down in the Philippines most if not all the people running POGO have left the Philippines (deported) leaving hundreds of empty condos, which has put the developers in a spin. Buying or even renting condos now is a dodgy investment and they are still building, the problem is the developers, or at least some are financial institutions, BDO being one of them which puts them in dire position because they to borrow money to build condos and if don't sell them they will default on the repayments to their lenders and so on. I think you are wise at this time to ride it out until the dust has settled. Nothing in the Philippines lasts.
Yes my friend was renting to pogo staff when it was legal for 60,000 a month. Once pogo was outlawed it left their unit empty and eventually rented it for 30,000 a month. Bad for real estate investors but great for renters.
Awesome 👏
What’s awesome?
I think buying a property “as an investment” needs to come to an end, and fast. Investors inflating the housing market breaks the generational social contract. Besides, it’s not actually a great investment. The same cash dumped into a global tracker will appreciate quicker and will have greater liquidity - though I appreciate people like to invest in things they can touch and see.
If you buy your home to live in it though - you don’t care what happens to the housing market.
agree, and worldwide.
If you don't need to be in the city live by the beach, as long as there is a decent sized city center in the area you have everything you need.
Small one bedroom apartments do not have utility you cant raise a family in one.
Larger units are a bit better but you are still liable if your building needs major repairs which they will when the building ages
May I know the name of the place ? It's good to see you vlogging here
How would you build inland as a foreigner? Not unless you plan on leasing the land.
Do you have a video on how did you get your land ?
you can practice your swimming breathing rhythms anytime even outside of the water story! its a good way to learn how important breath control is in many aspects of life! i once heard somewhere that the main reason doggies cant speak is cause they cant control their breathing. congrats on crossing the pool for your first time kiddo!! thats a huge milestone!🎉
i still remember my first full crossing and now my personal best stands at 88 full laps nonstop! one day youll probably pass that easily though 😂🎉
Wow 88 laps! That’s incredible
@8milesfromhome yup was trying to gauge if I can pull off an ironman someday but still not convinced! 😅
Thanks for a good video.
How did you acquire land in Siargao when its not allowed for foreigners to own land in the Philippines?
I was wondering that also. Maybe they did a 50-year lease on a plot of land and will build on it?
They have Filipino family. Zsa’s father is married to a Filipina. The land title might have been bought under their name.
Right time or opportunity to buy condo in Manila when prices are down. After that, prices will just go up and up.
Real Estate crisis? There is an oversupply of mid range condo. But high end and low end condo. Demand is still high.
So far, I havent seen any condo giving huge discount.
I have 3 condos in Metro Manila.
let the foreign vloggers rant about it to pressure developers to sell it at a lower price. Theyre really pissed off 😂Hope the Philippines wouldnt give in. Hayaan nyo sila. 😂
@@ßhopkins correct. They expect that they can get condo at a bargain price. They want to live in BGC, Makita and Ortigas but not willing to price the price. But, I guess we need to pressure the developer too. OA na ang price nila per SQM
@@macolet9711 greedy ang developers pero salbahe rin un vloggers who take advantage and release videos discouraging others not to buy. So patigasan sila jan.
I would not take it as an investment , at least not in cebu. I seen bad maintenance of structures, cracks after 5 years.
Beautiful home you guys have! ❤
It's impossible that house prices will crash. Prices are linked to GDP growth and Philippines is one of the highest. 2nd in the world. 😊
😂😂😂😂 second in the world. 😂😂😂 not sure where you lack of knowledge comes from. 😂😂😂😂
@Saeedmustapha-v1l check it out yourself. In a separate video, India GDP growth was first and Philippines, is tied with Vietnam for second place. I didn't made it up. 😊
@JoeyZee-vs4kr I only care about the facts. I'm not sure why you pulled India out of your hat. However, the Philippines' GDP is ranked around 37. I don't care about countries, I care about facts. .
@Saeedmustapha-v1l I'm talking about gdp GROWTH. Check out what it means. 😊
@JoeyZee-vs4kr Philippines was less than 4% in 2014, and there are several countries way way way about that. Guyana is number 1. Listen, man, I am not anti Philippines. However, facts don't change. I come to the Philippines all the time, and my wife is from the Philippines, 35 years of marriage.
Which developers are offering "hefty discounts"? I don't see anyone at least from the major developers but they are offering easier payment terms and early move-in promos.
Ok. Ever heard of the Secondary market? I am a happy owner of PHL Condos, after having both bought and sold. Requires some Due Dilligence
Easy to buy condo in the Philippines difficult to sell if you are not into longest term don’t do it.
Any investment whether land or money has always its risks anywhere in the world! There’s nothing new!
I would suggest since you love Siargao buy a property here as a corporate with your in laws and build extra cabin for rentals and now when it is low or over supply.
how about land can ou buy?
Wow she is grown up beautiful 😍
Property in general always goes through cycles of "correction" so you should only invest if you understand the risks/cycles. If you are buying somewhere to live then as long as you can afford it (either paid outright or mortage) then corrections should not be a problem UNLESS again you overstretched or/and relied on low interest rates
false report, there are 6-million housing backlog, the problem is the higher cost of condominium, condominium is good if you will stay in urban areas, metromanila properties are high , if you dont have enough money then go to provinces where u can rent a huge house, condominium in the bgc is good but expensive, so it dpends if you can afford it or not.
Because CONDOS prices are insane. Plus considering the electricity prices, and the quality of construction. Kito famiky, Juicy Vlog got problem with their condos. It's still good to have a house and lot.
I'm actually planning to have condo in manila in about 5 years from now. Evening though I plan to retire in the provinces have my own land its hard to disconnect from the city. I'm from New York so you can understand what I mean. I believe both farm and city life will help my family in the long run especially to love and understand their country.
Forget buying the Condo build in the Provence and rent when you want to go to Manila so when you return to the Provence you leave the costs of upkeep and the headaches of upkeep for someone else.
smart decision in a long term
❤ good day
A kilo of rice is 60peso if you want to sell it for 3000peso then you probably wont find buyers. The price is the value of what someone is willing to pay not what you think it should be. Problem with the condos is they think its worth the sale price but people are showing them that its not... buy a condo in America for the same price, rent it out for $1800/month not 25k peso. You dont need to be a savvy investor you just need to know math
The returns on investment are so bad now in the PH, the maffs is not maffsing 😂 like you said the prices are high enough where you can buy in the US or Europe and get more home for your money! Plus get 3x higher income from it and have a safer transaction without much risk of getting scammed
You have a best spot practicing surfing.the waves is very nice for surfer.why they don't have a surfer in that area my friend,is it dangerous?
Hi how are you 8miles thank you for sharing this video
prices?
Love your home now❤❤❤❤❤
Buy when it's low Philippines is the new Bali
The island is ruined by westerners
it was low 10 years ago. those times are over
nope. we wont develop that much so the foreigners cannot ruined it, just like what they did to Bali.
@@ßhopkins You did already in Manila. lots of Chinese investors bought places like crazy. they pushed the price up. and will continue to do so.
Your latest Family Vlog, the comment section is turned off 😢
Developers build and set the price. The developers are essentially the wealthy families who can afford to sit on the properties for decades. The 20% down more than covers the cost of the condo or lot everything else is profit especially the 25-30% interest rates which is of course in house financing. Unlike in other countries, here the price is set by what the seller wants, nothing else, no comps, no market analysis, and no appraisers! It’s the wild west set your price based on pure speculation and your trusted financial specialists family. They sell dreams, nothing more. Buy it and in 5 years you’ll double or triple your “investment” with many condos and lots being bought, repossessed and resold multiple times by the developers. It’s a we tote the note business model and like gambling in Vegas the house always wins.
BGC is the most expensive better the private subdivision and has a village roving guards and nearby km. to public market and malls.
Yes that'd be very comfortable. We've stayed in a few subdivisions on our travels and it's a good option
The construction materials that you find in the Philippines have bad quality. So keep it simple and expect that you will spend more than what was quoted. You definitely have to be around the whole time of the construction to see through the work or it’s going to be a mess. You have to choose yourself the materials or they’ll use the cheapest, bad quality. We built ours 1 1/2 yr ago and still we keep on doing corrections and paying from our own pockets. Workers are not necessarily qualified. Once they get their payment, they’re gone. Find a contractor with good reputation, check the houses he has done, interview the owners if you can. You have to be flexible in your mind that these are Filipino ways coz if you think about it, the cost cannot be compared to the construction in Europe or America. But always remain respectful, polite but firm. You’re there so you know the Filipino ways.
Lol, I feel your pain. Showed a gentleman a design of a 2 compartment sewer pit I wanted built to support our new bathroom. He did what he wanted to do, one compartment.
Rent first for condo units.
I haven’t been keeping up with all your posts on this channel. What happened to your idea of buying a CUBO home?
Thanks,, nice 🙏♥️🌹💋😍
Ive stayed in many condis in Manila and Cebu, its risky not just because of value. Some have persistent insect infestations, others are not strict about tenants being noisy or having noisy dogs, if you end up with noisy neighbours you're not free to move on.
You re not contended and that's the problem!!! Don't blame how real estate in the Philippines are doing so far! find a real job and don't rely on vlogging which you normally use as click-baiting!
❤❤❤
Brown Kenny G in the house!
The main problem with condo living is the management costs as you have no control unlike your own lot and house. I bought a lot in the early 80s did nothing with it till 2005 then built a 3 bedroomed bungalow lived in it till 2019 when we returned to the UK making a handsome profit in the process. Simple living is by far the best.
That and the fact that you certainly don’t want to be on the 25th+ floor when a stronger earth quake hits…
12:00 Are those the ones who regrets buying a condo?😢 They’re not like Jay😊 He makes the best and smartest decisions !❤ CUBO will be a success!!🎉🎉🎉
This is normal
The Condo Market is crashing it's just oversupply due to post-pandemic reasons. They are looking at whether within 5 years there will be an equal footing as time progresses. It's not all over the place it's only in Manila, BGC, and other major cities. Country side doesn't really get affected by this.
Buy a home 😔 n native country and assign to property management company. Income more than covers upkeep and leaves enough to rent a beachfront house. You also gain far more value than a ph property when you sell your property.
Pogo ban? Maybe?
its a bubble..will wait for better price...
Hey, congrats on your decision to avoid the Manila condo! I have a question-since I know foreigners aren’t allowed to own land in the Philippines, how were you able to purchase land? Did you apply for a dual citizenship? thanks!
Very expensive and high maintenance.
how about buying a prefab house from china?
I also live in the Philippines. I hope you do realize that foreigners are not allowed to own land here, but only lease or rent. Only Filipino citizens are allowed to own land.
Philippines so much affordable compare to living in USA 🇺🇸🇵🇭 . I hope get to live in the Philippines again.❤❤❤❤❤
Siargao prices of restaurant food and hotel is very expensive like your booking a Marriott , its very expensive for ordinary Filipino who would like to visit. Airport maintaenance is not fixing their toilet instead those ladies just give you bucket of water only and no tissues ti wipe your butt. Its Very sad that they collected money when you arrrive but cannot provide that.
Wow a metropolitan area with an OVERSUPPLY of housing. There are so many places in the world with the opposite problem.