Stay Safe During the Holidays: Christmas Decorating Safety Tips

It isn’t even December yet but already, stores, malls, and houses are showing the holiday spirit and decking out their walls and windows with Christmas lights and decors. Christmas decorations are a beautiful sight but without taking the right safety measures, they can also cause fires and other accidents. Here are some ways you can stay safe during the holidays.

The Christmas tree

If you’re buying a new artificial tree this year, check the box or ask the salesman if the tree is “fire resistant.” This doesn’t mean that the tree won’t catch fire if a fire breaks out; it simply means that it will be more resistant to burning and won’t enlarge the blaze immediately.

When placing the tree inside your home, make sure you keep it in a corner away from the door and other areas where people in the household might accidentally walk into it. Do not place Christmas candles or any other sources of fire near the tree (or any other decorations for that matter).

Christmas Lights

If you are reusing last year’s Christmas lights, inspect the wires and make sure that none of it has been damaged by rats. Check the lights for any broken or cracked sockets, loose connections, or bare wires. Replace any damaged bulbs immediately. Never pull on the Christmas lights as this will add stress to the cords and cause it to fray or break.

When using extension cords, tape them to the wall so that nobody accidentally trips on the wires. Make sure you do not plug too many lights or other electrical appliances onto the cord if you intend to use them for a long time; extension cords can burn if they are overused.

Finally, make it a habit to see that the Christmas lights are switched off before heading to bed.

Christmas candles and other decorations

Candles add warmth and holiday cheer to a room, but they can also be a source of accidents as well. As mentioned earlier, do not place lit candles near the Christmas tree or any other decor where the candle’s flames might reach it. Place all candles out of reach of children and pets, and use non-flammable holders. If you are going to light any Christmas candles, make sure you are within eyesight at all times.

If you have toddlers and other small children at home, do not use Christmas decorations that resemble candy because they will be tempted to see what they taste like! Do not use decorations with small removable parts either; children have a habit of putting things into their mouths and they could easily choke on small parts.

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Condo Investments: Things To Look Out For

Despite rising oil and commodity prices and the ongoing crisis in the US economy, now is still the best time to invest in real estate in the Philippines to safeguard your savings or your liquid financial resources. Real estate investment is the a good way to stay safe from inflation. Right now, the best kinds of property to invest in are high-rise condominium units located in prime areas like Makati, since the values continue to appreciate. With so many developments being built in the area, buyers also have the luxury to choose among the condominium developments available.

So what exactly should you look for in a high-rise condo?

First: location, location, loaction! Choose a condo situated in a premiere city center as the property values here will continuously appreciate. Makati is your best bet, as well as Fort Bonifacio and Ortigas. Condominiums in these areas are within walking distance of corporate, entertainment, and leisure facilities, as well as hotels, schools, and banks.

Make sure the condominium is developed by a reputable real estate firm. Only choose a developer who has experience, a proven track record, and a premiere roster of projects.

Fully fitted and furnished units are ideal, as it will lessen move-in stress caused by hiring designers or shopping furniture and appliances.

A condo that allows you to expand your living experience beyond your unit and caters to your lifestyle is the best investment you could ever find. Look for amenities such as a swimming pool, gym, spa, and childcare facilities.

Finally, a condo that is well-designed will increase your pride of ownership and will guarantee that ever single peso you invested in it is well worth the price.

Tough Times Ahead for Philippine Real Estate

It’s no big surprise that the global finance crisis is going to make things hard for the Philippine real estate industry, but even Ayala Land Inc. and SM Prime Holdings, the country’s biggest real estate moguls, aren’t too optimistic about the year 2009.

According to Ayala Land president Jaime Ayala, the company’s sales of low and middle-income residential properties are still strong for the third quarter of 2008, but the impact of the US crisis might be felt by the Philippines next year. Right now, sales from the United States represent only 25% of the company’s total foreign sales, whereas it used to account for almost 50% of their sales in the previous years. Because of the instability of the US economy, Ayala Land is now looking for markets in other regions such as the Middle East, where sales increased by 70% from January to September of this year. The first half of the year earned them a higher net income from Php 2.13 B to Php 2.91 B on strong residential sales.

As for what will happen in the year 2009, Jaime Ayala says there’s nothing to do but wait and see how the economic crisis will play out. Despite the uncertainty, however, Ayala Land will not slow down on ongoing developments nor reduce their capital for next year.

SM Prime Executive Vice President Jeffrey Lim also says that 2009 looks to be a difficult year for the real estate industry. The country’s largest commercial center developer received a growth in their net income for the first six months of 2008 – from Php 2.9 B to Php 3.17 B – because of the company’s consolidation of three China malls. While revenues increased by 8%, SM Prime is still wary about the market. Like Ayala Land Inc, they are going to expand their shopping centers in 2009 as planned, but they’re watching the market carefully to see how the economy and the real estate industry will be affected.

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Real Estate Investment Trusts to be Introduced in 2009

Despite the current global financial crisis, the Philippine government is still planning to push through with introducing Real Estate Investment Trust (REITs) into the local equities market. REITs are legal entities whose functions are to allow small and large investors to participate in owning income-producing real estate properties and other similar assets. REIT shares are traded like stocks, which means they are affecting by the ups and downs of the local and global stock market.

President of the Philippine Stock Exchange Francis Lim told the press at the REIT Forum in Makati that regardless of the external shocks going on right now, our market has to keep on moving. The government and the private sector must keep on creating an environment where investments can flourish, and this includes implementing measures to insulate the local stock market from external shocks and making it easier for investments to push through.

Lim also added that the Philippines is behind most countries in getting into the REIT bandwagon. The REIT bill was filed in 2006 and is already pending in both the House of Representatives and the Senate. It is likely that the bill will be put into place by July 2009. As of now the government is ironing out the details of the REIT scheme such as the 25% tax incentives for potential investors.

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New Law Makes Philippines a Retirement Haven

Two new real estate investment laws are expected to encourage Filipinos and OFWs to explore investment opportunities or retirement options in the Philippines. According to the Asia Pacific Association of Fiduciary Studies (APAFS), the Personal Equity Retirement Account (PERA) that was signed into a law last month, and the pending bill Real Estate Investment Trust (REIT), will help develop Philippine real estate markets. The PERA law allows individuals to transform their contributions from their income into a dependable retirement plan that they can use when they retire. The REIT bill allows Filipinos to invest in the real estate market without actually buying or selling properties directly, giving investors more areas to diversify.

APAFS will be discussing real estate investment trends, opportunities, and challenges in their Annual Pacific Region Investment Conference on October 9 and 10 at the Renaissance Hotel.

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Medium Rise Condos are the New Real Estate Trend

Today’s real estate developers are switching from building high-rise condominiums to medium-rise condominiums, mainly for economic reasons. Going higher will obviously result in higher construction costs as this will need more concrete, steel, wiring, workers, and other construction materials. For developers who are trying to cut costs, the advantages of making medium-rise condominiums are far greater.

Lower construction costs means lower selling prices, thereby making the units more affordable to more people. Medium rise condominiums are usually constructed at sites where building detached houses are no longer practical because of increasing land costs. Thus, medium-rise condominiums fill the gap between high-rise condominium buildings and detached houses. Medium-rise condominiums are also better at complementing the lifestyles of the residents, since it provides them simple luxury and all the modern day conveniences they need.

For high-density commercial areas such as Makati and Ortigas, however, medium rise buildings are not so practical because the developer has to recover the land cost from the number of sold units, which can only be accomplished if the building goes higher. However, there will be more medium-rise buildings in the outlying areas of the main business centers.

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