What documents do you need when buying land in the Philippines?

Documents Needed When Buying Land 

Documents do you need when buying land in the Philippines

1) Contract to sell

The contract to sell is a written pact between buyer and landowner that lays out the basis for a purchase agreement. This contract remains in place until all debt has been settled.

2) Deed of absolute sale

Once the aforementioned debt has been settled, a deed of absolute sale must be filed with the Registry of Deeds. The document essentially confirms that you are the rightful owner of the land.

3) Deed of adjudication with sale

The deed of adjudication with sale is an important document that confirms heirs to the land have also agreed to the sale. This protects you from future disputes from the owner’s family.

4) Certification of titles

This document, which is given to you by the Registry of Deeds, essentially proves your ownership of the land. In most cases, this document will be the Transfer of Certificate of Title.

5) Tax declaration

Once you have obtained the title, you’ll need a tax declaration from the Assessor’s office in the municipality the plot’s located in. Having this will clear you of any previous tax responsibilities.

Failing to have the documents needed to buy land in the Philippines can cause delays in completing your transaction or create a number of other issues for you in the future. If the seller does not assist you in obtaining these, do not proceed with the land sale.

 SOURCE: DotProperty

 

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Consunjis’ DMCI on a roll, earnings rise three-fold in 9 months

The listed holding company of the Consunji family is on track for strong and sustainable growth with its nine-month profit more than tripling to P13.5 billion on record revenues amid the rock solid performance of its coal mining and real estate businesses.

DMCI Holdings’ consolidated revenues skyrocketed to an all-time high of P80 billion, 82 percent more than the P44 billion registered a year ago on the strong rally of coal, nickel and electricity prices as well as the steady increase in construction accomplishments.

Excluding a nonrecurring loss of P592 million last year due mainly to sales cancellations for a DMCI Homes project and a nonrecurring gain of P1.2 billion from the remeasurement of deferred tax liabilities as a result of the CREATE law and sale of a lot, consolidated core net income surged to 173 percent to a record P12.3 billion.

For the third quarter, DMCI Holdings s more than doubled its net profit and core earnings to P4 billion as revenues expanded by 46 percent to an all-time high of P26.4 billion.

“This is our highest third-quarter revenue ever. If current market and operating conditions continue for the rest of the year, we expect our fourth quarter results to be even better,” said DMCI Holdings chairman and president Isidro A. Consunji.

Subsiiary Semirara Mining and Power Corp. contributed P6 billion to DMCI’s total earnings, up 252 percent on higher coal shipments and average selling prices for coal and electricity.

The real estate business under DMCI Homes pumped in P3.2 billion in core earnings, 199 percent more than the previous year.

DMCI Mining chipped in P983 million or an increase of 290 percent on higher selling prices, shipment and production with two of its mines operating at full capacity.

Construction firm D.M. Consunji swung to a P585 million profit from a P97 million net loss owing to higher construction accomplishments and minimal COVID-19 costs.

SOURCE: Bilyonaryo

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Robinsons REIT hits an all-time high

Shares of RL Commercial Inc. (RCR), the real estate investment trust of Gokongwei-led Robinsons Land Corp., jumped to an all-time high of P7.22 per share amid strong investor demand for high-yield products.

Wednesday’s closing price is 11.9 percent higher than RCR’s initial public offering price of P6.45 per share.

Among the four other REITs listed on the exchange, RCR has the biggest portfolio and asset size, the widest geographical coverage, longest lAnd lease tenure and largest market capitalization at P71.8 billion.

RCR is poised to grow even bigger with the expected infusion of as much as 100,000 square meters of existing RLC office developments within the next 18 months.

Its portfolio currently comprises 14 high-quality commercial assets valued at P73.9 billion, spanning across 425,315 sqm of gross leasable area.

These assets are strategically located in nine cities across Luzon, Visayas, and Mindanao, including the major central business districts of Makati, BGC, Mandaluyong, Ortigas, and Quezon City.

 Apart from this, RCR has access to RLC’s business process outsourcing (BPO) spaces located within its various commercial centers, as well as projects that are in various stages of construction.

From its office business portfolio alone, RLC’s potential pipeline for infusion to RCR could reach a total GLA of approximately 422,000 sqm over time.

RCR also continues to look for opportunities to acquire assets to further boost its stock performance and dividend yield.

RCR’s dividend yield forecast for 2022 is at 5.96 percent, one of the highest among REITs, calculated based on a 90% payout of the projected distributable income for next year.

SOURCE: Bilyonaryo

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Aboitiz Land profit surges by seven-fold in first 9 months but still below pre-pandemic levels

Aboitiz Land has bounced back from its dismal performance in 2021 but profits still below pre-pandemic level.

Aboitiz Land posted a 665 percent year-on-year jump in profit to ₱646 million in the first nine months. But this is still 22 percent below the P829 million profit in 2019.

Aboitiz Land’s revenues climbed 34 percent year-on-year to ₱2.9 billion in the first three quarters of 2021, well above pre-pandemic levels.

The company cited higher sales, especially of projects with large spot down payments, and increased construction and site development.

Aboitiz and gets the bulk of its sales from residential (73 percent) and industrial (21 percent).

It has 10 residential projects; three economic zones; and six commercial projects in operation.

 SOURCE: Bilyonaryo

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BSP survey: Home ownership a key asset among middle-income households

The primary residence as well as other real estate assets such as farm and land are the most valued assets of middle income Filipino households, according to a survey done by the Bangko Sentral ng Pilipinas.

Based on the latest Consumer Finance Survey (CFS) conducted pre-pandemic between October 2018 to June 2019 in terms of asset accumulation of households, 71.6 percent owned or co-owned a residential property while 45.4 percent owned both a house and lot.

About 26.2 percent owned only a housing unit while 8.8 percent of households owned other real properties besides their house and lot.

The most popular transportation owned by households are motorcycles. In the 2018 survey, 68.6 percent of households said they owned one.

In terms of appliance, the BSP said almost every household had a television set and a mobile phone. The ownership rate was 85 percent.

Some 22.6 percent said they had access to financial products and services such as insurance/pension and deposit accounts. Of the total, 16.3 percent of households owned an insurance or pension plan or were receiving insurance/pension benefits while 9.7 percent owned one or more interest-earning deposit accounts in the country’s big banks or non-stock savings and loan associations.

About 28.2 percent of households said they still kept their cash at home for emergency.

Since this survey was conducted before the pandemic, less than one percent of households had electronic money or e-money accounts and these were tied to their deposit accounts with banks.

The survey also showed that 6.6 percent of the households had account receivables in the form of non-property loans owed to them by other people or businesses.

About 40.4 percent or two in every five households had debts. Around 28.2 percent had outstanding loans, 17.1 percent had household bills and 1.6 percent had unpaid credit card loans.

Loans include Pag-IBIG Fund and National Housing Authority housing loans, in-house financing for vehicle loans, and financing companies/institutions for business and other consumer loans, said the BSP.

 SOURCE: Bilyonaryo

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Robles-Santos group enjoys healthy returns as booming residential sales lift Sta. Lucia’s profit

 
Sta. Lucia Land Inc. saw its first half net income surge by 90 percent to P1.44 billion as real estate sales spiked by 63 percent.

Revenues soared by 63 percent as sales from real estate jumped to P3.26 billion.

SLI executive vice president David Dela Cruz said the strong financial performance was largely “driven by sales of residential lots which have shown resilience during the pandemic.”

“As majority of our projects are in the fringes, or in the outskirts of the central business districts and major growth centers, they have become more practical as they offer bigger spaces, more affordable pricing and seen as ultimate beneficiaries of the government’s aggressive infrastructure program which aims to interconnect the entire country”, he said.

Also contributing to SLI’s growth was the 21.4 percent spike in rental income to P273.4 million as the government relaxed quarantine restrictions.

Interest income more than doubled to P188.67 million while commission income went up 11 times more than the P3.17 million recorded a year ago.

SLI, led by its president Exequiel Robles, also benefited from the CREATE law as it incurred lower tax expenses, partly offsetting the increase in cost and operating expenses.

Total assets increased by 26 percent as the company raised new long term debt to refinance its more expensive liabilities.

SLI has a total of 115 ongoing projects, 60 or 51 percent of which are located in the high growth area of CALABARZON.

It also has 25 projects in Davao while the rest are spread out in seven other regions.

SOURCE: Bilyonaryo

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Feng Shiu Expert Expects Good Fortune for Real Estate, Investing

 Marites Allen, a well known Feng Shui expert currently living in London, says that 2021 will bring a favorable energy to businesses in real estate and precious metals like gold and silver. 

The Year of the Metal Ox (2021) is projected to return fortune and good returns in these investments. 

The streamed online event named "Thrive, Not Just Strive" drew worldwide attention, not only in the Philippines, and was co-hosted by none other than Boy Abunda. 

“I see the coming year as a period for welcoming and adapting to change and of having renewed vigor and confidence that things will be better,” she added.

 

 FULL STORY at: https://www.philstar.com/the-freeman/cebu-business/2021/01/06/2068508/feng-shui-master-marites-allen-metal-ox-spells-good-returns-property-silver-and-gold

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