Price if land and dwellings in RP

[johncar54]

Settle an argument (good natured ! )

My wife believes that prices in RP are continuing to rise whereas I believe RP is affected by the worldwide crisis and thus logically prices must be stagnant or falling.

Which of us is correct ??? A answers on a ten pound note, or if you must post here.

Thanks.
John

PS sorry about the miss-spelling in the title, but I can't correct it.

[rani]

philippines is in crisis for... who knows, how many decades now
prices continues to rise also

argument settled

we need a very good economist here

[Steve.r]

I was advised that prices continue to rise. Depends where you buy of course.

[Englishman2010]

Surely the price of real estate always goes up if a foreigner is buying

[johncar54]

Surely the price of real estate always goes up if a foreigner is buying

Yes but that's the point.

In Spain, nothing is selling at almost any price. I find it inconceivable that things are that different anywhere, including RP

[Steve.r]

Surely the price of real estate always goes up if a foreigner is buying

Its all about knowing the rules Ian, Oh, and doing the homework first

[Sim11UK]

Land is definately going up in price, the wife has just bought a plot, with her sisters.

[Steve.r]

I guess it is one of the places on earth that the housing is relatively cheap,(for us) but as populations grow, the housing market is going to take off. Maybe now that possibly western culture is more prevelant, materialistic and so on, prices will rise and rise.

[subseastu]

I was thinking about this sort of thing the other day. A couple of years ago the peso was one of the strongest currencies in the world and I can't figure it out. When you consider that it wasn't much before it was averaging 100 - 110 to the pound! What was the philippines doing that everyone else wasn't? It obviously doesn't help us with this recession happening but the effects will spread to the east soon. I think the philippines has been riding on the back of the economic explosion in china, taiwan, singers etc but when that starts to slow down (even more) then I can see the peso start to weaken regardless what ever the mess the pound / dollar is in. When this happens the economy will start to slow due to less investment from abroad, things will start to stagnant and then deals should be had at a local level. Sellers do after all need to keep selling. But it also worth bearing mind that on the whole prices will over a long enough time naturally increase, inflation, growing population, stortages in commodities (land, minerals, skilled labour). Basic supply and demand.

[fred]

Yes but that's the point.

In Spain, nothing is selling at almost any price. I find it inconceivable that things are that different anywhere, including RP

Prices in our region are still hitting new highs on a monthly basis with quality new domestic property,hotels and resorts being built just about everywhere on our small island..
This may seem inconceivable to you John but in fact its a reality.
IMO this general trend will continue for a good few years to come.
You pays your money and takes your chance!

[johncar54]

QUOTE A couple of years ago the peso was one of the strongest currencies in the world and I can't figure it out. When you consider that it wasn't much before it was averaging 100 - 110 to the pound!


If I understand you correctly, you are saying you believe it was strong when it was 100 P to the pound. Sorry that was when it was weak against the pound. It is stronger now, relative to the pound, at about 70 to the pound.

Example to buy one pound then cost 100 pesos, now it costs only 70 pesos to buy a pound.

[subseastu]

QUOTE A couple of years ago the peso was one of the strongest currencies in the world and I can't figure it out. When you consider that it wasn't much before it was averaging 100 - 110 to the pound!


If I understand you correctly, you are saying you believe it was strong when it was 100 P to the pound. Sorry that was when it was weak against the pound. It is stronger now, relative to the pound, at about 70 to the pound.

Example to buy one pound then cost 100 pesos, now it costs only 70 pesos to buy a pound.

No, I think you've mis read. As I said it was one of the strongest currencies over the last couple of years which is strange when you consider it WASN'T before when it was averaging 100 to 100 to the pound which is indeed weaker.

[johncar54]

A couple of years ago the peso was one of the strongest currencies in the world and I can't figure it out.

Sorry I took it to mean what it says, but I understand now you meant that for the past couple of years it has been strong.

I think the reality is that the US dollar and the UK pound have been surprisingly weak. I find it hard to understand why the Euro retains it's strength when many countries in the Euro Area are in such bad shape, Ireland, Greece, Spain and Portugal.

[subseastu]

A couple of years ago the peso was one of the strongest currencies in the world and I can't figure it out.

Sorry I took it to mean what it says, but I understand now you meant that for the past couple of years it has been strong.

I think the reality is that the US dollar and the UK pound have been surprisingly weak. I find it hard to understand why the Euro retains it's strength when many countries in the Euro Area are in such bad shape, Ireland, Greece, Spain and Portugal.

Thank the european bank for that, but mainly the germans as they seem to be the ones forking out these loans to everyone. What confuses me how they expect these countries to pay back these loans when they are so heavily in debt? Reminds me of those adverts on tv about consolidating all your loans into one easy payment!!! It ain't going to owrk.

Germany are going to take over the world, tried it twice and failed now it's easier to do it by being loan sharks!!!!

[johncar54]

Ok whatever

[Terpe]

Prices in our region are still hitting new highs on a monthly basis with quality new domestic property,hotels and resorts being built just about everywhere on our small island..
This may seem inconceivable to you John but in fact its a reality.
IMO this general trend will continue for a good few years to come.
You pays your money and takes your chance!

I agree fred.
To me, given the current conditions in the global economy, I think the Philippines is well placed. Personally I do not see the Philippines going into recession any time soon.

Provided of course that the current government can boost trade, help to reduce poverty, improve employment opportunities and improve infrastructure.
The governments major limitation in achieving this continues to be inadequate tax revenues. However, a new initiative and investment by the US to maximise BIR revenues should help.

The global financial crisis was largely fuelled by the banks.
Philippine banks had very minimal exposure to troubled financial institutions.
The economy has a relatively resilient and strong domestic consumption, very well supported by large remittances from 4 to 5 million OFW's.
There's also a growing contact center business in Philippines and together with other sectors of this industry is predicted to create an additional 1 million jobs.
This industry’s expected growth in the near future is so strong that some experts say the Philippines may well outpace India as the global capital for this.

For all these reasons, my belief is that the housing market in Philippines will continue to grow.
Well worth thinking about as investment opportunity.

[aposhark]

What I would like to know about the slightly better rate £-PHP is: is the pound getting stronger or the peso weaker?

I suppose you'd have to cross-reference both currencies to other currencies to see which way it is going.

Anyway let's just hope the pound gets stronger and the peso gets weaker

[johncar54]

Against the Euro the pound, at 1.172 is up. This is just about the highest it has been for quite some time.

Not so long ago it was was almost 1 for 1

[aposhark]

Does anyone know if the PHP is tied to the US$ ?

I'd love to see a graph of the £ to the US$, with the PHP too.

[subseastu]

You can't do a comparason of 3 currencies but you can do 2 with the following link if that helps

http://www.xe.com/currencycharts/?from=USD&to=EUR

Just change the currencies and the time frame

[subseastu]

JUst done a sterling to peso comparason for 5 years, made me want to cry!!! FRom a high of 101 (7/12/06) to 70.5 today

[joebloggs]

JUst done a sterling to peso comparason for 5 years, made me want to cry!!! FRom a high of 101 (7/12/06) to 70.5 today

those were the days you could walk out of the money changers in the malls and feel like a millionaire

those days are gone probably for good

[aposhark]

At least it's come up from the middle 60's

[fred]

JUst done a sterling to peso comparason for 5 years, made me want to cry!!! FRom a high of 101

Go back another year or two...You`d be inconsolable!!

[aposhark]

those were the days you could walk out of the money changers in the malls and feel like a millionaire

those days are gone probably for good

Hope you're wrong, Joe

[subseastu]

20/12/2004

AAAARRRRRRGGGGGGHHHHHHHH
Nearly 110 to the pound!!!!!!!!
Wish I'd never found the bloody chart now!!!

[jimeve]

In thr 60's or 70's think it was 30/40 to the pound

[Terpe]

Averages against the Pound

Yearly Average
Year Peso US Dollar Euro
2010 75.19 1.55 1.18
2009 74.53 1.56 1.12
2008 81.97 1.85 1.26
2007 92.16 2.00 1.46
2006 94.50 1.84 1.46
2005 100.08 1.82 1.46
2004 102.91 1.83 1.47
2003 88.73 1.63 1.45
2002 77.71 1.50 1.59
2001 73.32 1.44 1.61
2000 66.99 1.52 1.64
1999 62.10 1.62 1.52
1998 67.80 1.66 1.47
1997 48.66 1.64 1.42
1996 40.94 1.56
1995 40.62 1.58
1994 40.44 1.53
1993 39.46 1.50
1992 43.25 1.76
1991 46.72 1.77
1990 41.98 1.78


But remember this is just historical.
The data cannot really be used to make any predictions for investment purposes.

Source:-
http://www.hmrc.gov.uk/exrate/

[subseastu]

So it looks like we had it good in the uk from late 90's till 2007 ish. Our time will come again, its just fitting in with the boom and reccession cycle. Personally I think another 2 or so years and the pound will get up to 1.5 euro, 1.7 dollars and 85 - 90 peso.

[Terpe]

So it looks like we had it good in the uk from late 90's till 2007 ish. Our time will come again, its just fitting in with the boom and reccession cycle. Personally I think another 2 or so years and the pound will get up to 1.5 euro, 1.7 dollars and 85 - 90 peso.

Anything is possible.
The key issue I think, is what can be bought for Eu1.5, $1.7 or 85-90 peso

That then brings us back to the individual economies.