Banks tighten standards for real estate lending resulting to developers having difficulty securing financing, BCDA seeks bids for the long-term lease of Poro Point and more
Know the pulse of the real estate industry. We’ve selected five news articles this week that will keep you up-to-date with the happenings of the country’s real estate sector.
This week, property developers were reported to have difficulty in securing bank financing due to tighter regulations made by the BSP (Bangko Sentral ng Pilipinas) to curb the sector from a property bubble. Meanwhile, Quezon City grants real estate tax relief in line with their diamond jubilee anniversary. Also, it is reported that Baguio city’s housing backlog reached 35,000 units.
Banks tighten standards for real estate lending
Property developers are having a difficult time securing bank financing in the last quarter of 2014. This is due to tightened credit standards because of the recently released stricter regulations made by the BSP (Bangko Sentral ng Pilipinas) to avoid the formation of a property bubble.
Inquirer; January 25, 2015
Quezon City grants real estate tax relief
The local government of Quezon City passed several measures, including real estate tax relief, to help ease the burden on tax payers. The move is in celebration of Quezon City’s Diamond Jubilee anniversary.
ABS-CBN News; January 28, 2015
BCDA seeks bids for long-term lease of Poro Point
Poro Point Management Corp., a member of the BCDA group, is seeking for interested parties for a bidding involving the Poro Point site. Proposals are expected to incorporate tourism-leisure and entertainment-related developments for the mixed-use site.
Business World; January 28, 2015
15-day real estate board seminar set in Davao
A comprehensive seminar to prepare for the real estate broker licensure examination will be held every weekend from February 7 to March 28 at the Davao Doctors College. The seminar will be conducted by PAREB (Philippine Association of Real Estate Boards Inc.) and DBRFI (Davao Board of Realtors Foundation Inc.).
Sunstar; January 29, 2015
35,000 housing backlog in Baguio
CREBA-BBC (Chamber of Real Estate and Builders Association – Baguio-Benguet Chapter) reported that the city has need of 35,000 housing units for those belonging in the middle income and socialized housing beneficiaries in the past several years.
Manila Standard Today; January 29, 2015