If there are a lot of questions you’d like to ask about the Philippine real estate industry, you can get all the information you need about the latest developments, financial institutions, investment advice and more at the Philippine Real Estate Festival 2008. Themed “Living Under One Roof”, the festival will be held at the SMX Convention Center from July 24 until July 26 and will be populated by over 150 real estate practitioners, professional groups, expatriates, and overseas Filipino workers.

Besides exhibits and booths of real estate developers and contractors, the Philippine Real Estate Festival will also hold free lectures on a wide variety of topics such as making your dream home under a tight budget, tips on how to avail affordable housing loans, identifying fake titles, and identifying practical investments. Pag-Ibig Fund and other financial institutions will also be around to answer any questions you might have on housing loans and related topics. Specialized sessions for OFW groups and real estate brokers will also be held to discuss topics related to real estate investments or to honor newly passed Brokers and the best Filipino real estate investors.

Schedule of Activities

Visit the Philippine Real Estate Festival website for more information on the activities and exhibits.

What with the rising prices of gas, food, and basics of everyday living, would it be a good idea to buy property or close deals before prices rise again?

According to senior economist Prince Christian Cruz, if a buyer can pay in cash and the property is bought for the purpose of owner occupancy, any time is the best time to buy it regardless of the price increase of goods. If the purchase will be financed by a loan, however, the buyer will need to consider other factors like his income, savings, expenses, and the amount allotted for the monthly amortization. Although it’s easy to estimate how much income you’ll make in a year, the unstable economy makes it harder to predict how much your expenses will be. Even if prices seem stable for a week, it can increase unpredictably and without warning.

If you’re buying the property simply to invest in it, it gets a little trickier. Just because you bought the property with a 20% markup does not mean it will also be sold at a higher price. The price is determined by the demand for it, and it seems as though we are nearing the end of the housing price boom.

The best time to buy is now, according to President of the Subdivision and Housing Developers Association Eduardo Alunan. The interest rates are still low thanks to Pag-Ibig and other commercial banks, and you can still dodge increasing gas bills by carpooling or using public transport. But as the peso appreciates, the interest rates could rise as well.

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Thanks to the boom in the business process outsourcing (BPO) industry, the Philippines is the hottest real estate market in Southeast Asia Today. According to CB Richard Ellis Group Philippines general manager Trent Frankum, the BPO created newer opportunities for the real estate market. Major businesses and investors are expanding their presence in the Philippines due to the large work force and because it is one of the biggest English speaking nations in the world.

This assessment was recently made in Hong Kong at the Smart Investment and International Property Expo, the biggest real estate exposition in Asia. The expo showcases global real estate market opportunities and invites property experts and investors from global companies in Asia, the UK, and Australia.

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