Lamudi Philippines Magazine by Lamudi Philippines

ISSN 2545-9635

LAMUDI.COM.PH

REAL ESTATE MAGAZINE CITIES FILIPINOS LOVE The most searched locations for real estate in 2016

RETAIL THERAPY New malls and shopping centers in 2016 and beyond

Upgrades To Boost Your Home’s Resale Value Tips For Marketing Real Estate

Southern Charms

The best-looking homes in Tagaytay, Alabang, and the rest of the south.

P150

Volume 1, Issue 1 JANUARY–MARCH 2017

Your listing could be on the screens of almost 300,000* potential buyers right now.

Targeting property hunters on the go? Be where your buyer is: post your ads on *Based on Google Analytics - March 2015 mobile and tablet users

Contents

LA MU DI : REA L E ST AT E M AGA Z INE I s s ue 1 , V o l ume 1 | J a nua ry– M a rc h 2 0 1 7

22 THAT PLACE CALLED LAPU-LAPU

28 SOUTHERN CHARMS

A city poised to become the next hotspot for business and tourism in Cebu Province

The best looking homes in Tagaytay, Alabang, and the rest of the south

CITIES FILIPINOS LOVE

The most searched Philippine locations for real estate in 2016

2 LAMUDI | JANUARY–MARCH 2017

RETAIL THERAPY

Philippine retail real estate is expected to thrive in 2017 and beyond

Call Us

+63 917 933 3398 +632 894 4734

Column

What to Look for in Condo Investments

Contents

48 words ANDY MAÑALAC

Real estate investors can enjoy hassle-free ownership via professionally run rental pools

HOME FACELIFTS

Eight renovations and upgrades that give your property higher resale value

Real estate investors can enjoy hassle-free ownership via professionally run rental pools

Architect and urban planner Felino “Jun” Palafox, Jr. on architecture, Metro Manila’s urban planning, and why he refused a million bucks for a hotel project

10 LAMUDI | JANUARY–MARCH 2017

58 L AM UD I: R EA L EST A TE MA GA ZIN E Is s u e 1 , V o l ume 1 | J a nua ry– M a rc h 2 0 1 7

WHAT TO LOOK FOR IN CONDO INVESTMENTS

MASTER PLANNER

FROM PAGEANTRY TO PROPERTY MANAGEMENT

THE EGONOMICS OF REAL ESTATE PROFESSIONALISM

1999 Miss Universe first runner-up Miriam Quiambao-Roberto discusses a little bit of what she enjoys as a real estate investor and lessor

A look into the life, achievements, and goals of Dr. Eduardo G. Ong

45 Column

CAR ORREALCONDO? ESTATE MARKETING 101

Marketing ideas worth trying for licensed real estate brokers to boost sales

words RICHARD THADDEUS CARVAJAL

If you find yourself wondering which purchase to make, choose what will prove to be an excellent investment

THE COVER

Developed by Mañosa Properties, Tagô is a secluded yet accessible community of only 52 homes. Know more about this Tagaytay development on page 28.

4 LAMUDI | JANUARY–MARCH 2017

CAR OR CONDO?

ARCHITECTURE WITH A PURPOSE

If you find yourself wondering which purchase to make, choose what will prove to be an excellent investment

12 LAMUDI | JANUARY–MARCH 2017

WTA’s principal architect William Ty, Jr. discusses how his firm is designing its way to change the urban landscape

LAMUDI Lamudi is a leading global property portal focusing exclusively on emerging markets. It offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online. Lamudi was established in 2013 in Berlin, Germany and it is currently available in Asia, Latin America and Middle East. Within fewer than three years, Lamudi has established its presence as a key online real estate marketplace in the countries where it is operating.

MYPROPERTY Established in September 2010, MyProperty.ph is one of the leading Philippine real estate online brands that brings property buyers and sellers together. The website’s main offerings are listings of pre-selling properties and properties for sale and for rent. Lamudi: Real Estate Magazine is published by Lamudi Philippines Inc.

Fro m t he C EO

This Year, We Go Big

he year 2016 was indeed a banner year for Lamudi Philippines. Not only did the company achieved record growth in terms of both listings and revenue, it also established itself as the most visited real estate website in the Philippines, and that is thanks to my predecessor, Jacqueline van den Ende, who shepherded the company into what it is today. As we welcome 2017, the arrival of this magazine couldn’t be more opportune. Now on its fourth year, we at Lamudi have decided that this year we’ll go big on branding. It might sound counterintuitive, but it makes more business sense. After all, a business who has strong presence not just online but also oﬄine is deemed more trustworthy by its target market. Indeed, anybody can put up a website, but not everyone can make it successful. We’ve seen many players come and go, but Lamudi lingered on and became stronger. Speaking of branding, the release of this magazine also coincides with the launch of Lamudi’s very first TV campaign in the Philippines. Targeting a niche market ready to buy their first home, the commercial will indeed further cement the company’s position as the go-to website for everything Philippine real estate. Before I end this note, I would like to take this opportunity to thank the local Lamudi team for very warmly welcoming me. Indeed, the success that the company is enjoying wouldn’t be possible without them, and together, we look forward to an even exciting year ahead. Happy reading!

Lamudi Philippines, Inc. Unit 902, V. A. Rufino Building, V.A. Rufino Street corner Ayala Avenue, Makati City

Bhavna Suresh Chathambeth CEO | Lamudi Philippines

Copyright © 2017 Lamudi Philippines Inc. All rights reserved. No part of this printed material shall be reproduced in any form without written consent from the Publisher. Comments, opinions, and views of individual contributors expressed in this magazine do not necessarily represent those of the Publisher. Under no circumstances shall the magazine and its Publisher be liable for any direct, indirect, special, consequential damages that may arise in connection with the use of information made in this magazine.

Like MyProperty on Facebook for promos, contests, and listings of the day. Check out facebook.com/myproperty.ph!

Like us on Facebook for promotions, properties of the week, and upcoming events. Check out facebook.com/ LamudiPhilippines!

MyPropertyPH

Lamudi_PH

mypropertyph

+MyPropertyPH

lamudiph

+LamudiPh

EDITORIAL EDITOR-IN-CHIEF Rodel Ambas Jr. ART DIRECTOR Lincoln Gasmen WRITERS Jillian Cariola, Nivelle Dumlao, Braulio Giron Jr. MEDIA RELATIONS OFFICER Pia Lorraine Yater-Dalmazo Managing Director Bhavna Suresh Chathambeth Head of Corporate Partnerships Gilles Hage MARKETING Head of Marketing Erika Anne Madriñan Senior Marketing Associate Michaela Nadine Pacis Marketing Associate Jillienne Joy Bedia CONTENT AND PUBLIC RELATIONS Head of Content and PR Rodel Ambas Jr. Senior Content Writers Jillian Cariola, Braulio Giron Jr. Junior Content Writer Nivelle Dumlao Senior Digital Graphic Artist Lincoln Gasmen BUSINESS INTELLIGENCE & IT BI & Digital Marketing Manager Princess Czarina Padilla Customer Performance Manager Julius Raphael Apolonio Salesforce Data Administrator Ritchie Sy ADMINISTRATION Head of Human Resources and Administration Aileen Gallinero Head of Finance and Treasury Gloria Chua Finance and Treasury Assistant Hannah Kirsten Mercado Treasury Assistant Elmalyn Abanto General Services and Administrative Staff Rafael Sagum General Services Staff Jessie Gomer MYPROPERTY.PH SALES & ACCOUNT MANAGEMENT Sales Manager Roger Padillo Senior Business Development Manager Sylvenia Mase Junior Business Development Manager Mark Cris Bautista OPERATIONS Operations Supervisor Melanie Eugenio Upload and Quality Control Specialists Alexis Abanto, Roxanne Amor, John Michael Buan Junior Customer Service Representative Elona Rose Serrano TECHNOLOGY Chief Technology Officer Charles Cabato Product Development Officer Ryan Marvin Patolot Senior PHP Developer Maria Teresa Pomar Network and Systems Administrator Neo Marco Macapagal Senior Product Designer Mark Jayson Alimboyogen LAMUDI SALES & ACCOUNT MANAGEMENT Head of Business Development and Account Management Analyn Rose Hernandez Senior Business Development Managers Paulo Antin Valeriano Aldemita, Krismae Cartujano, Rommel Lim, Danica Joyce Gapuz Junior Business Development Managers Amira Alloghani, Christian Fruelda, Ronald Lagubana, Federico Gabriel Ramirez Regional Sales Manager – Cebu Raymund Ponce Business Development Manager – Cebu Berny Bryan Chua Chan Telesales Representative Leonilabelle Shieva Canuday Lamudi Group Account Management Supervisor Cristina Romero Senior Account Manager Erica Vania Topacio Junior Account Managers Demcy Charles Cachero, Ma. Ariane Carandang, Kathlyn Marie Rubio, Jonathan James So Senior Account Manager – Cebu Jeffruss Jose Canonigo Junior Account Manager – Cebu Jamaica Dakay Trainer Iris Justine Matubis UPLOAD & QUALITY ASSURANCE Head of Upload and Quality Control Alodia Mojica Senior Upload and Quality Control Specialists Jonathan Cambe, Michael Jobert Tayag Upload and Quality Control Specialists Loraine Mae Roblas, Rochelle Teves, Isah Tomagan CUSTOMER SERVICE Customer Service Supervisor Ciara Anna Dulog Senior Customer Service Representative Katrine Hyzle Potian Junior Customer Service Representatives Jeanesyl Basmayor, Sarra May Bautista, Loury Bitancor, John Carlo Cabazares, Beverly Camille Calma, Fe Meryl Gabriel, Gina Gernale, Krystle Charm Nidea

8 LAMUDI | JANUARY–MARCH 2017

Edit or ’ s Not e

e begin the maiden issue of Lamudi: Real Estate Magazine with a look into one of the Philippines’ most popular city for real estate: Tagaytay. Indeed, being a place of all-year sweater weather, rolling hills, and spectacular views of Taal Lake and Volcano, there are very few places in the Philippines that could rival this Cavite city. It is fitting that we feature one of the best-looking properties Tagaytay has to offer: Mañosa’s Tagô, which is yet another reason why Tagaytay real estate is one of the most sought-after. Speaking of highly sought-after places, homebuyers could not seem to get enough of the south—the cities of Las Piñas and Muntinlupa and parts of Laguna and Cavite, that is. Laidback and suburban, this established real estate market is where some of the most exciting developments are unfolding. With transport infrastructure expected to get thoroughly upgraded very soon, it is not implausible that plenty of Metro Manila residents will become tigasouth over the next few years. This issue also features some of the most notable personalities in real estate at the moment. We sat down with Dr. Eduardo G. Ong himself, chairman of the real estate board of the Professional Regulation Commission, to discuss what the agency is doing to encourage more real estate practitioners to become licensed. Noted architect and urban planner Felino Palafox Jr. then shares why he believes that a good design—whether it is an architectural design or a masterplan—should be benefit-heavy rather than costheavy. Lastly, Miss Universe 1999 first runner-up and licensed real estate broker Miriam Quiambao shares what she loves about property management and being a hands-on real estate investor. Overall, we are quite pleased at how this issue has turned out, which augurs an exciting year ahead for Lamudi. With a TV campaign coming up real soon plus a long list of big events lined up not just in Metro Manila but also in Cebu, we couldn’t be more proud of what the company has accomplished over the last three years. Rodel Ambas, Jr. Editor-in-Chief

Ne ws

What’s New on Lamudi.com.ph

61,000 LISTINGS AND GROWING By the end of 2016, Lamudi Philippines reached 61,000 unique listings. That means more real estate inventory for a wide range of property buyers and investors—all over the Philippines!

FEATURED PARTNERS

LAMUDI PHILIPPINES SCHOLARSHIP

Regus Regus has been exploring vibrant Philippine locations outside the traditional CBDs, including Cubao, downtown Manila, and even the Clark Freeport Zone in Pampanga.

The very first Lamudi Philippines scholars have been chosen! Check out lamudi. com.ph/scholarship for deadline of application for the program’s 2017–2018 academic year.

Check out lamudi.com.ph/regus-philippines for their newest listings

Right Homes Right Homes takes care of the marketing and selling of Robinsons Land’s RFO properties, ranging from such projects as Escalades in Quezon City to Gateway Garden Ridge in Mandaluyong. Check out lamudi.com.ph/right-homes for their newest listings

BDO Under its division BDO Asset Management Group, the Henry Sy-owned universal bank lists about 950 acquired assets on Lamudi.com.ph.

Check out lamudi.com.ph/bdo-asset-management-group for their newest listings

Compass Oﬃces Hong Kong-based office solutions provider has two properties in Metro Manila—one in Tower 6789 along Ayala Avenue in Makati and another in BGC Business Centre in Taguig—where a shared office space starts at Php7,500 per month. Check out lamudi.com.ph/compass-offices for their newest listings

JANUARY–MARCH 2017 | LAMUDI 9

C o lumn

What to Look for in Condo Investments

words ANDY MAÑALAC

Real estate investors can enjoy hassle-free ownership via professionally run rental pools

10 LAMUDI | JANUARY–MARCH 2017

C ol um n

For the past few months, I have been doing my rounds giving investment seminars to prospective investors in different countries. While most of the participants are keen on investing in properties in the Philippines, they are more particular about higher rental yields and capital gains than their personal use of the units. Thus, while features and amenities may be good selling points, there is one thing that really gets their attention: guaranteed yields. There are also a lot of things that hold back their decisions about investing especially in preselling projects. Not only are they unfamiliar with the actual market condition in the Philippines, they are also committing to a property that is not even constructed yet. There are also other questions in their mind, including who is going to handle their property, going to look for tenants and facilitate the lease transactions, decide on lease rates, take care of the tenantâ&#x20AC;&#x2122;s maintenance concerns, pay utilities and insurance, collect payments, inspect the units after the tenants leave, handle the repairs and refurbishments, and pay taxes. And their biggest worry is, what if there are no tenants? A lot of condominium buyers unfortunately have had the experience of having their units vacant for several months due to a variety of reasons. Sometimes, even with the best efforts of the real estate broker, the unit owner insists on their ideal rental rate and lose prospective tenants, not realizing that with each month that the unit is vacant, plus their additional cost in paying the monthly association dues, their actual effective return significantly diminishes. But really in most cases, these foreign investors feel that their agents abandoned them after they got their commissions. With all of these considerations, I believe that projects that offer professional asset management will have an edge. I am referring to a separate company that specializes in managing

hotels or serviced residences. This is the reason why I find it safer now to present projects that offer guaranteed rental yields in one form or another. These guarantees can be in the form of an actual contract with specific rates of rental yields or just the mere track record, brand name, and actual performance of the hotel/service residence operator is already a guaranty in itself. As I have carefully studied several projects before including them in our investment seminars, there really are a lot of advantages in investing in units that are enrolled in the rental pool of professionally managed service residences that most people do not realize. First, owners do not have to worry about finding tenants for their units since they enjoy their monthly share of the pooled rental income whether their units are occupied or not. This rental income can range from 6 to 10 percent net for a specific number of years, depending on the project and occupancy rate. To be safe, all the projections that we present for different developers are based on very conservative occupancy levels and lower daily rental rates. This means that the rental yields can be much higher.

Another advantage of investing in professionally run rental pools is that it is practically a hassle-free ownership. Owners do not have to worry about paying their bills, insurance, commissions, and utilities; and will not be bothered by maintenance, collections, and refurbishing. The units are preserved since the operators see to it that they are kept in tiptop shape. One particular international service residence operator keeps the units they manage in very good condition since they are also open to buying back the units from the investors at a pre-determined premium. In the absence of a guaranty contract, it is very important to check out the company that will operate the rental pool of the hotel or serviced apartments. Their brand, track record, and careful study of the market are sometimes an even better assurance than a contract. I believe that once the market becomes fully aware of the presence of these options in real estate, those who are coming in purely for investment will be taking a closer look at this. This may be the trend in the next few years.

Getting more popular now are serviced residences because they have lower operating costs compared to full hotel setups. This is because they have more long-staying guests and do not require heavy staffing. This translates to higher profits that will be shared with the investors/unit owners. Operators of serviced apartments actively and professionally market their rooms and they have the advantage of having existing networks of corporate clients, tie-ups with local and international travel agencies, and event organizers. Multinational companies usually prefer to house their top expats in these hotels/serviced residences run by reputable operators for safety, security, and most of all, convenience.

Andy MaĂąalac has over 25 years of real estate experience and is a recognized industry thought leader. He is the immediate past Chairman for three consecutive years of the National Real Estate Association and chief adviser of ThinkInvest Advisory Group.

JANUARYâ&#x20AC;&#x201C;MARCH 2017 | LAMUDI 11

C o lumn

CAR OR CONDO? words RICHARD THADDEUS CARVAJAL

If you find yourself wondering which purchase to make, choose what will prove to be an excellent investment

12 LAMUDI | JANUARYâ&#x20AC;&#x201C;MARCH 2017

C ol um n

Life, as they say, is a matter of choices. Admittedly, however, the choices that we need to make are not always complicated. Sometimes it is just a matter of deciding whether to buy a new shirt or a new pair of shoes—matters that do not really need that much planning. It is an entirely different story, though, when it comes to deciding on huge purchases: choosing between a car or a condominium unit, for instance. With so many factors to take into consideration, how will you know which is the better choice? Let’s find out. Why People Buy Cars There are a variety of reasons for making the purchase. Some buy cars mainly for the sake of status—a means of showing others that they have achieved a certain level of financial stability. Others buy cars for more practical reasons. For them, having a car affords them the convenience of having a means to get from one point to another at a moment’s notice. They see it as the easiest way to escape the hassle of having to fall in line and wait helplessly for a ride. Plus, having a car makes traveling with family or a bunch of friends a whole lot easier. But is having a car really as convenient as it seems to be? Owning a Car—the Downside Yes, having your own car does give you a certain status as well as a great deal of flexibility and mobility. You do not have to be tied to a specific route—you can opt to take shortcuts and easily have access to places that are not accessible by public transport. However, owning a car also has its downsides.

It is costly We are not just talking about the initial cost of acquisition—that alone is already costly enough. We are talking about having to spend, on a monthly basis, on maintenance, car insurance, car accessories, parking, gas allowance, and other costs that owning a car would incur.

Traffic Those who live in Metro Manila are all too familiar with this word. Traffic is especially heavy when you are traveling during rush hours. Yes, you can choose to take alternate routes, but it is virtually impossible to escape Metro Manila’s traffic. While commuting passengers in public vehicles could simply opt to get off their ride and take another route, car owners cannot do that. Once you are stuck in traffic, you cannot opt to get off your car and walk to your next ride. You have to sit it through. The traffic ordeal is even compounded if you have to battle it on your own.

Cars depreciate Unlike other acquired assets, a car’s value goes down over time. Even the most expensive cars will have to lose their value with every passing year. So, if having a car is not as advantageous as it initially seems to be, what could be the better option? The Perks of Owning a Condo Unit Owning a condo unit will get you the following perks.

Security As a condo unit owner, you get to take advantage of tight security. Condominiums offer gated entries and have security professionals manning the area, which means that help is readily available in cases of emergency.

Avail of amenities Another perk of owning a condominium is getting to avail of amenities that would otherwise be unavailable to the average homeowner—swimming

pool, community clubhouse, and fitness center. Maintenance Owning a condo unit also means not having to worry about doing maintenance work. You get to have other people carrying out that task for you. You do not need to worry about who will do house repairs or maintain the grounds—you simply have to inform the condo management and it is as good as done.

It is relatively affordable Compared to family homes, condo units are priced lower, so they are more affordable especially for young professionals who would like to have their own place but cannot afford to purchase a much bigger house and lot.

It is a good investment The best part about owning a condo unit is that you can easily offer to rent it out, especially if your condo unit is located in a prime spot (say the Makati central business district or Bonifacio Global City). Condo units that are strategically located have a high resale value and a competitive market. The more strategic your condo’s location is, the more appealing it is to prospective renters. Clearly, you do not have to sell your property for you to earn profit from it. Inflation and building improvements can also increase the value of your unit. Given the advantages above, it is easy to see how owning a condominium unit can benefit you. So if at the moment you find yourself wondering which purchase to make—a condominium unit or a car— remember to choose the better option. Choose what will prove to be an excellent investment.

Richard Thaddeus Carvajal is the CEO of Philippine Global Estate Management Services & Realty Corp. (PHILGEMS Realty), an estate management and brokerage firm that caters to both Filipino and foreign clients across the globe. PHILGEMS helps clients with consultancy, business setup, estate planning, real estate investing, and property management.

JANUARY–MARCH 2017 | LAMUDI 13

P ro per t y W at ch

MAKATI SKYLINE

MUMBAI

HO CHI MINH CITY

SHENZHEN

BANGALORE

REAL ESTATE MARKET

Manila now third best market in real estate investment Urban Land Institute’s 2017 Emerging Trends in Real Estate report showed that the Philippines, particularly its capital Manila, continues to attract positive comments with its vibrant economy led by a booming BPO market and strong remittances from overseas Filipinos. The fundamentals appear as strong as ever, noted the report, with demand resilient and vacancies remaining low. According to the report, this year’s Investment Prospects survey shows a strong shift to emerging-market destinations, with two Indian cities topping a list. The other Asia-Pacific cities in the top five include Bangalore (first in investment and development), Mumbai (second in investment and third in development), Ho Chi Minh City (fourth in investment and second in development), and Shenzhen (fifth in investment and development).

JANUARY–MARCH 2017 | LAMUDI 15

P r o p e rt y Wa t c h

INDUSTRY NEWS

SSS to redevelop prime Makati property In an effort to gain better yield for the fund, state-run Social Security System (SSS) said it plans to redevelop its idle and old properties, such as its old SSS building along Ayala Avenue in Makati. In an article published in The Standard, SSS president and chief executive Emmanuel Dooc said that redeveloping and renovating idle real estate properties would fetch their desired returns. “That’s an old building, but if we want to maximize the returns for that, we have to put up a new building. It could be in partnership with another named developer,” Dooc said.

INDUSTRY NEWS

Cebu condotels, serviced residences booming Global estate services firm Colliers International Philippines said that more leisure-oriented condominium developments are expected to rise in Cebu in the medium term, mainly driven by its growing tourism sector. In an article published in the Manila Times, Colliers said that it has observed a continued increase in residential developments in Cebu that cater to tourists, such as condotels and serviced residences. Colliers attributed the rise of leisure-related developments to a number of factors, such as Cebu being a jump-off point to the rest of the Visayas and to Mindanao destinations and the modernization of the Cebu airport.

16 LAMUDI | JANUARY–MARCH 2017

3.3

Million Number of tourists who visited Cebu Province in 2015, according to the Department of Tourism

P ro per t y W at ch

DESIGN AND DECORATION

Greenery is Pantone’s 2017 Color of the Year The Pantone Color Institute recently announced “Greenery” as 2017’s Color of the Year. Officially Pantone 15-0343, the hue is described as “a fresh and zesty yellow-green shade that evokes the first days of spring when nature’s greens revive, restore, and renew,” which is seemingly appropriate given our need for a fresh start after what can best be described as a strenuous 2016. Pantone executive director Leatrice Eisman adds: “Greenery bursts forth in 2017 to provide us the reassurance we yearn for amid a tumultuous social and political environment. Satisfying our growing desire to rejuvenate and revitalize, Greenery symbolizes the reconnection we seek with nature, one another, and a larger purpose.”

JANUARY–MARCH 2017 | LAMUDI 17

P r o p e rt y Wa t c h

NEW LAUNCHES

Ridgewood Towers Premier Developer: C5 Mansions Development Corp.

Local property developer C5 Mansions Development Corporation recently launched the fourth tower of their 7,100-sqm Taguig City condo development Ridgewood Towers. Dubbed Ridgewood Towers Premier, the residential building is expected to be a step above the first three completed towers in terms of improved features and amenities. Situated along C5 Road in Barangay Ususan, Taguig, the 2,100-sqm Ridgewood Towers Premier rises 35 floors and comprises over 1,000 one- and two-bedroom units, with prices ranging from Php81,000 to Php92,000 per sqm after preselling discounts. A 24.8-sqm one-bedroom unit without a balcony starts at Php2.008 million. A minitheater, swimming pool and pool deck, gym, and a play area are some of Ridgewood Towers Premier’s amenities, while safety features include 24-hour security, high-speed elevators, backup generators, and fire safety systems. The completion of Ridgewood Towers Premier is expected by mid-2022.

ST. MORITZ (Second tower) Developer: megaworld Corp.

Megaworld Corp. is expanding its McKinley West project St. Moritz by launching a second nine-story tower, to be built beside the first tower located along Le Grand Avenue, just right outside the McKinley West Village. St. Moritz Tower Two will have 32 private suites ranging from two-bedroom to four-bedroom apartments, with sizes up to 220 square meters. The tower will also offer bi-level penthouses equipped with elevators that open to their suites’ own foyer area, keyless access to doors, and indoor private pools in each suite. According to Megaworld, suites at St. Moritz now value at around Php230,000 per square meter, up 21 percent compared to its price two years ago. The tower’s completion is scheduled in 2019.

18 LAMUDI | JANUARY–MARCH 2017

NEW LAUNCHES

P ro per t y W at ch

THE MANOR

Developer: GLOBAL-estate resorts, inc. (MEGAWORLD CORP.) Megaworld Corp.’s Global-Estate Resorts, Inc. (GERI) unveiled a unique home option in Tagaytay, where one can fully grasp the exclusive life of the Swiss countryside. This exclusive enclave, called the Manor, is the latest residential development at the 1,200-hectare Twin Lakes. The Manor will have the design inspiration culled from the famous chalets in the Swiss Alps, with the residential development being nestled at the mountainous landscape of Twin Lakes in Tagaytay. The 12-story three-clustered residential development will have limited units of about 129 and each floor will have an exclusive 14 units per floor that range from 27 sqm to 55 sqm, adding more privacy and security to its future residents.

3 torre lorenzo

Developer: torre lorenzo development corp. Launched in late 2016, 3 Torre Lorenzo is the developer’s follow-up to its two successful projects in the Taft Avenue area of Manila. Envisioned to be a student-focused property, it is intended for students from De La Salle University, College of St. Benilde, and St. Scholastica’s College. This 37-story condo development will house more than 1,000 units, ranging in size from 20.22 to 44.53 sqm, with prices ranging from Php2.375 to Php5.6 million. Target completion date is 2019.

JANUARY–MARCH 2017 | LAMUDI 19

P r o p e rt y Wa t c h

NEW LAUNCHES

camella dos rios trails Developer: camella (Vista land)

Located in Barangay Pittland in Cabuyao, Laguna, Vista Land’s Camella Dos Rios Trails is approximately 50 minutes’ drive from Makati through the Sta. Rosa Exit of the South Luzon Expressway (SLEX). This project is situated in the booming Sta. Rosa–Canlubang belt in Laguna and is close to tech hubs, suburban-style shopping centers, and industrial parks. In keeping with the Camella tradition, houses here feature Mediterranean architecture, with prices starting at Php1.4 million.

VINE RESIDENCES Developer: SMDC

Novaliches in Quezon City is indeed booming. With a new MRT line to serve the area soon, real estate developers keep on launching projects in the area. One of them is SMDC’s Vine Residences located within the SM City Novaliches complex in Barangay San Bartolome. This two-tower project features only two-bedroom apartments, perhaps in an effort to target starting families looking for a high-rise suburban abode in one of Quezon City’s most popular areas. Target completion date is June 2020.

20 LAMUDI | JANUARY–MARCH 2017

NEW LAUNCHES

P ro per t y W at ch

THE RESIDENCES AT THE WESTIN MANILA SONATA PLACE Developer: ROBINSONS LAND CORP.

Through its upscale brand Robinsons Luxuria, John Gokongwei-led Robinsons Land has launched The Residences at The Westin Manila Sonata Place, the latest branded residences unveiled in Metro Manila. According to Robinsons, this will be the first Westin-branded residential and mixed-use development in Southeast Asia. Located in Ortigas Center, this development will share address with another Westin-branded project, along with the developer’s own Sonata Private Residences. According to the developer, The Residences at The Westin offers one-, two-, and three-bedroom condos ranging from 47 to 254 square meters, priced around Php180,000 to Php200,000 per square meter. Robinsons also said in a statement that it is on track in putting the entire project by 2019 to 2021.

CHEER RESIDENCES Developer: SMDC

Located along McArthur Highway, SMDC’s Cheer Residences is touted as the first vertical project in Marilao, Bulacan. Soon to rise across the brand’s SM City Marilao, this seven-tower development will feature approximately 900 units, with each building floor having approximately 24 condo units ranging from 23 to 28 square meters. Target completion date is August 2020.

JANUARY–MARCH 2017 | LAMUDI 21

Special Adv ert ising F e at ur e

THE RISE OF INTRAMUROS

he scenery of beautiful Spanish-era infrastructures and streets of Intramuros, all restored, clutter-free from power cables, full of greens and walkable to tourists alike, are the much anticipations of everyone in view of the Intramuros Administration’s upcoming projects to rehabilitate the Walled City, as it is a national heritage site. Part of those projects is to build more infrastructures, which aims to increase the land values in Intramuros and draw more investors in the old city. Once these plans have been accomplished, it will only be a matter of time and various businesses will flourish again in the district. Home Guaranty Corporation, one of the key shelter agencies under the supervision of Housing and Urban Development Coordinating Council (HUDCC), is equally expectant of the forthcoming improvements in Intramuros as it targets to dispose its remaining assets in BF Condominium to the benefit of interested private and government entities.

Location The property is located along the corners of Solana Street, Andres Soriano Jr. Avenue, and Sto. Tomas Street, in Intramuros, Manila, about 140 meters northeast from Plaza Roma, in front of the famed Manila Cathedral. It also houses the Bureau of Local Employment and HRInternational, Inc. while the condominium ground offers the convenience of a 7-Eleven 24-hour store, Zuccherro Café, EastWest Bank, Union Bank, and the strips of restaurants and establishments facing A. Soriano Avenue, such as Max’s Restaurant, Jollibee, KFC, Greenwich, Western Union, and Bank of Commerce. BF Condominium is readily accessible as public transportation is available throughout the day along A. Soriano Avenue and connects to other sections of the city. Neighborhood As the historical center and the oldest district of Manila marked by the antique Spanish scenery of its oldest churches, museums, structures, and Fort Santiago, Intramuros has been a popular tourist destination and home to educational and government institutions. This includes the Commission on Elections, Bureau of Treasury, National Commission for Culture and the Arts, Department of Labor and Employment Regional Office, and the National Reintegration for OFWs. The area also boasts a list of competent educational institutions, such as Colegio De San Juan De Letran, which is one of the oldest schools in Manila, Lyceum of the Philippines University, Mapúa Institute of Technology, Pamantasan ng Lungsod ng Maynila, PNTC College, and Manila High School. Security The condominium has a 24-hour security and maintenance services. Street lights, garbage collection, foot and mobile patrol of the Philippine National Police, and other community facilities are maintained by the city government of Manila.

BF Condominium: A Prime Commercial Property Built in 1977, this eight-story office–commercial condominium stands in the historic Walled City of Intramuros. Offering its unequaled location where the district is mixed with commercial, institutional, and residential use, BF Condominium creates great advantage for office and business.

JANUARY–MARCH 2017 | LAMUDI 27

F ea tu re

Cities Filipinos Love Lamudi Philippines ranks the top five cities being searched online for real estate

n the present era of rapidly advancing technology, more and more Filipinos now go online to search for what they need. Property has been no exception, as evidenced by Lamudi, the Philippines’ leading real estate marketplace, seeing a 34.32 percent increase in page views for 2016.

While contentious from a political standpoint, the previous year can be considered productive for the country overall. The steady growth of the economy, coupled with the introduction of new leadership, reportedly continues to pique the interest of new foreign and local investors, resulting in growing employment opportunities. This has led to a rise in real estate demand, as increased spending power has allowed more Filipinos to consider buying new homes or upgrading to better rentals. Citing 2016 data, Lamudi details which cities have been checked out most online by property-hunters.

Que zon C ity Quezon City received a little over 17 percent of all page views made on Lamudi last year, with the former national capital specifically leading in overall inquiries for residential properties, which include houses, apartments, townhouses, and condominiums. The city and its listings also received more than twice the total page views of the second most checked out city online, Parañaque. QC also averaged the second most number of properties listed online per month on Lamudi (5,560), behind only Makati (5,580). While possessing a wide inventory, it has been houses for sale and for rent that seem to be what has drawn most property-hunters to QC, with over 90 percent of the city’s page views coming from searches for the property type.

36 LAMUDI | JANUARY–MARCH 2016

F e at ur e

Parañ aq ue

CEBU CITY

MA KA TI

La s Piñ a s

Despite having on average the fifth highest number of property listings on Lamudi per month (approximately 1,570), Parañaque was still the second most checked out city online in 2016. A little over 95 percent of the online searches made for the city were for houses, even if Parañaque had more listings for condominium units than house and lots.

Cebu City similarly had searches for houses accounting for most of its page views (85 percent) in 2016. A possible reason for the constant inquiries is the city’s burgeoning business process (BPO) and knowledge process (KPO) outsourcing industries, which global commercial real estate company Colliers expects to grow by 5 to 10 percent annually for the next 5 years.

As the long-time financial capital of the country, Makati is expectedly one of the cities most checked out online. Boasting little developable land, property prices here are comparatively higher than the rest of the Philippines. In addition, more than 55 percent of online searches involving the city were for condominiums, and at the same time Makati boasts the highest number of condo listings uploaded online.

Las Piñas is perhaps the most laidback city in this list, but nonetheless is checked out considerably online. The city’s condos generally are more affordably priced than those found in, say, Muntinlupa or Parañaque, although a number of high-profile real estate projects might push prices higher over the next few years.

This all but confirms how house and lots remain the preferred property type among buyers and renters searching the city, even if residences of the vertical variety is becoming more common in Metro Manila, and is likely helped by Parañaque’s enduring reputation as a “subdivision” city.

VITAL STATS

2.8

The need to live closer to work, coupled with the increasing spending power of workers in the BPO and KPO industries, will continue to help raise interest in homes in Cebu. In terms of listings uploaded online, Cebu City averaged 2,900 properties per month on Lamudi.

Million pesos, average price of 2BR houses in Las Piñas

Percentage of all page views on Lamudi involving properties in Quezon City

Makati houses listed on Lamudi tend to be very high-end, boasting asking prices as high as Php600 million. Condos, although pricier still than Taguig’s or Quezon City’s, are a more affordable option for those who want to relocate in the city, with developers exploring areas outside the traditional CBD.

5,580

Monthly average number of Makati property listings uploaded on Lamudi

On average, there are 670 Las Piñas houses for sale listed on Lamudi per month, ranking third in Metro Manila behind Quezon City and Makati. The average price of two-bedroom houses in the Las Piñas stood at Php2.8 million in 2016, more than 31 percent lower than similar properties in Quezon City.

Percentage of all Parañaque searches on Lamudi involving houses

JANUARY–MARCH 2016 | LAMUDI 37

PHOTO VIA SHUTTERSTOCK

F e at ur e

Retail Therapy words BRAULIO GIRON JR.

With an established shopping mall culture and a property sector that continues to rise, Philippine retail real estate is expected to thrive in 2017 and beyond

hether visited for retail therapy, to escape the heat of the outdoors, or to simply bide time with friends and family, shopping malls and other commercial spaces continue to be one of the most frequented places in the various cities and municipalities of the Philippines. While a number of new retail and lifestyle centers have already opened this year, the countryâ&#x20AC;&#x2122;s mall culture will seemingly continue to thrive in 2017, as a number of developers also give rise to new and innovative retail real estate projects, and subsequently expanding the viability of the market for investors, retailers, and other business owners.

JANUARYâ&#x20AC;&#x201C;MARCH 2017 | LAMUDI 39

F ea tu re

Avida Land’s South Park Mall in Alabang (above). Federal Land’s Met Live (above right) and Big Apple Mall.

Ayala Land Based on data from global estate consulting firm Colliers International Philippines, Ayala Land has the fullest pipeline of retail real estate projects as 2016 draws to a close. After recently entering Bicol Region this past April with the opening of Ayala Malls Legazpi, Ayala Land will soon open Vertis Mall, a new high-end retail center being marketed as the Greenbelt of Quezon City. The development is projected to give the company a gross leasable area (GLA) of 47,000 sqm. Ayala Land is also set to open The 30th, a shopping center with a GLA of 28,000 sqm, in Pasig, not too far from competitors SM Megamall and Robinsons Galleria. The company is also slated to open the remaining portion of BHS Central in Pasay City, as well as work toward the completion of the South Park District Mall in Alabang, which is deemed to be just as big as Vertis Mall. Its most ambitious project, however, would be the highly anticipated new mall within the 100-hectare Entertainment City of the Philippine Amusement and Gaming Corp. (PAGCOR) in Parañaque.

Federal Land Not too distant from SM’s Mall of Asia in Pasay is Federal Land’s upcoming new shopping destination, Met Live. An addition to Federal Land’s already established Blue Bay Walk, Met Live, once it opens, is slated to provide the property arm of GT Capital Holdings a GLA of 34,000 sqm. Federal Land is also currently building its Big Apple Mall that will serve as the central commercial complex of Grand Central Park, a project by the developer being marketed as “a one-of-a-kind New York–inspired community” at the northern section of Bonifacio Global City.

40 LAMUDI | JANUARY–MARCH 2017

Double Dragon Properties Having already opened eight CityMall centers and secured 53 sites for future development, Double Dragon announced last September its plans to build a network of 100 neighborhood-style shopping malls across the Philippines by 2020. The announcement was followed by the opening of a CityMall in Cotabato, a location west of Davao City that had yet to have retails centers built by major mall-builders. Next in the developer’s pipeline is a CityMall at the 116-hectare Northtown residential complex being developed by Alsons Development and Investment in the northeastern part of Davao. It has also been reported that 70 out of the 100 malls initially planned by Double Dragon will be built in different areas in Visayas and Mindanao.

Megaworld In 2015, Andrew Tan’s Megaworld Corp. announced plans to open multiple shopping malls in the foreseeable future—21 by the year 2020 to be exact. Since the announcement, Megaworld has opened new malls and commercial centers in its various integrated townships, particularly Uptown Bonifacio (Uptown Mall) and McKinley Hill (Venice Grand Canal Mall) in Fort Bonifacio, Mactan Newtown (Plaza Magellan) in Lapu-Lapu City, and Twin Lakes between Tagaytay and Laurel, Batangas.

F e at ur e

The developer is reportedly scheduled to open two more shopping centers before the end of 2016: Festive Walk Mall in Iloilo Business Park and Southwoods Mall, which is in the developer’s Southwood City township in Biñan, Laguna. Another vast integrated township is scheduled to be launched before the end of 2016, bringing the company’s number of townships across the country to 22.

SM Prime Holdings SM Prime only has a few retail real estate projects in its pipeline for the year’s end, starting with the projected opening of Cherry SM Congressional in Quezon City. The project stemmed from SM Prime’s acquisition of Cherry Foodarama in 2015, with Cherry SM Shaw in Mandaluyong officially opening earlier this year. The Henry Sy–owned company is also set to open SM East Ortigas before the end of 2016, which will have SM Prime ending the year with 60 malls in the Philippines. In 2017, the company will be seen expanding further outside of Metro Manila. The new SM Malls slated to open next year include SM CDO2 Premier in Cagayan de Oro (174,399 sqm), SM City Puerto Princesa in Palawan (65,073 sqm), SM City Urdaneta in Pangasinan (46,570 sqm), SM Center Ormoc in Leyte (28,408 sqm), SM City Tuguegarao in Cagayan (25,890 sqm), and Cherry SM Antipolo (22,777 sqm).

Robinsons Land In 2015 at the 4th Asia Pacific Real Estate Investment Summit held in Parañaque, Robinsons Land made it known that it had plans to open 10 new provincial malls in the two years that followed. Two of these 10 planned malls have so far come to fruition, with the Gokongwei-owned company opening the 4.7-hectare Robinsons Galleria Cebu complex in December of 2015, and then the 64,000-sqm Robinsons Place Tagum in Tagum City, Davao del Norte, in early 2016. In July, Robinsons Land also announced the completion of its mall expansion in San Nicolas, Ilocos Norte, opening a new lifestyle wing and business process outsourcing (BPO) offices in Robinsons Place Ilocos. The company is scheduled to open five new malls in 2017: in Ormoc City, Leyte; Tuguegarao, Cagayan; Naga City; Valencia, Bukidnon; and Kabankalan, Negros Oriental. The company has also been reported to have lined up future mall developments in Cabanatuan City; Calbayog, Samar; Abucay in Tacloban City; and Pavia, Iloilo.

Megaworld’s shopping centers as of 2016: (From top) Venice Grand Canal in McKinley Hill, Twin Lakes in Tagaytay, and Festive Walk Parade in Iloilo. (Right) Uptown Mall in BGC. Photos courtesy of Megaworld Corp.

JANUARY–MARCH 2017 | LAMUDI 41

F ea tu re

HOME FACELIFTS words BRAULIO GIRON JR.

Eight renovations and upgrades that give your property higher resale value

hen you decide to put your house up for sale, you will likely have a real estate appraiser compute the value of your property, and recommend to you a reasonable selling price. Often, the key considerations they make are location, accessibility, and the property’s condition. Impressive architecture and interior design, as well as being built by a reputable developer (especially for condos), can also help your home net a higher appraisal. However, as a homeowner, the property’s condition is what you have the most control over, where even the slightest improvements can contribute to the increase of your property’s value. This need not always be a complete renovation, and can simply be some select improvements.

42 LAMUDI | JANUARY–MARCH 2017

F e at ur e

A Little Paint Goes a Long Way

Take Note of the Top and Bottom

Paint is one of the simpler home improvements one can do, and when done professionally can make an old house look rather new. A new paint job can also mask a structureâ&#x20AC;&#x2122;s aesthetic flaws, which tend to be mistaken as structural ones by novice homebuyers. However, make sure to choose muted or neutral colors, which appeal to many people.

The floor is considered one of the most significant selling points a home, while eyes often tend to gravitate upward toward the ceiling. This means that the condition of the top and bottom is indicative of how well the property is taken care of. If both the flooring and ceiling are already dilapidated, then it should be replaced or repaired to not only sport a consistent look, but also help keep property structurally sound.

Enhanced Windows for Better Lighting

Make Small Improvements to the Kitchen

Natural lighting plays a significant hand in staging property for viewing, especially for homes being sold as is. While cleaning windows and making sure they are all functional are a start, their size may not be enough for ample light to enter. Take this opportunity to expand and enhance your windows, and consider upgrading them with newer materials, such as vinyl, light-colored wood, or fiberglass.

Considered by many as the center of the home, the kitchen is a key consideration of most homebuyers. While it is arguably the costliest to renovate, your kitchen need not go through a complete overhaul, as even modest improvements can help increase a propertyâ&#x20AC;&#x2122;s value. These can be as simple as re-varnishing kitchen cabinets and drawers, upgrading hinges and handles, or replacing leaky fixtures and worn-down sinks.

JANUARYâ&#x20AC;&#x201C;MARCH 2017 | LAMUDI 43

F ea tu re

Give Some Attention to the Outside

While the land on which your property sits may be huge, its size may not garner too much interest from buyers if it requires plenty of work. Make it more of an asset by planting suitable foliage, as fruit- or flower-bearing plants doing the best in increasing value. Also develop a well-kept lawn for your front and back yards; or, if you would rather not have to do too much maintenance, have it professionally designed and paved.

Expand the Home

While expansion may be significantly costlier in comparison to the other aforementioned improvements, it is arguably the one that increases the value of the property the most outside of a full renovation. If space permits, you can look to extending your home via an additional room or an expanded kitchen, or build another bathroom that from a selling standpoint would also make your home more attractive. For those with less horizontal space, expansion can be done upward.

Take Care of Your Furniture and Appliances

Like automobiles, appliances and furniture are not the best investment because they immediately depreciate once taken out of the store. Individually, they do not garner much in resale either, but as part of a home being sold, they may help increase the price. If you are getting new things for your next home anyway, leave your old things in the old one, where you have hopefully kept them in good condition and fully functional. In the Philippines, it is always a plus when you sell a property as semi- or fully furnished.

44 LAMUDI | JANUARYâ&#x20AC;&#x201C;MARCH 2017

Update Your Bathroom

Real estate brokers always say that aside from the kitchen, the bathroom is a sure bet for adding value to your home. Although a major renovation may be costly and certainly out of the question, some upgrades are quite affordable and easy. For instance, frosted glass can be replaced with a clear one, rust stains can be professional removed, fresh caulk applied, and doorknobs and cabinet pulls updated to give your bathroom a fresher, modern look. Even buying a new toilet seat and a new shower curtain rod can make a difference.

F e at ur e

Marketing ideas worth trying for licensed real estate brokers to boost sales

REAL ESTATE

101 MARKETING

arketing is an essential part of the real estate broker profession. While there are already methods that you faithfully practice, the way your competitors and clients approach the market constantly changes, making it paramount to update your marketing repertoire constantly. The following are a few ideas that you can use to shore up your real estate marketing efforts. These are not necessarily new, but somewhat altered to be more applicable in 2017.

words BRAULIO GIRON, JR.

JANUARYâ&#x20AC;&#x201C;MARCH 2017 | LAMUDI 45

F ea tu re

Establish a Marketing Day and Time

The real estate industry requires you to spend most of your time accommodating prospects, and not having a clear plan all but guarantees that your business does not grow. It does not to have to be a daily occurrence, but the point of a marketing day or time is simply to allow you a moment away from the transactions aspect of the business and allow you to get creative with the way you market yourself and what you offer overall. One Key to Success Schedule your marketing day on Monday. Having discussions can be the way to help yourself, your co-brokers, or your agents into building momentum for the days or weeks ahead. Also, allot at least one hour per day replying to inquiries and following up on prospects. Buyers appreciate it if they feel their needs are attended to.

Expand Your Social Media Presence

There are two types of marketing in real estate: personal promotion and listing promotion. The latter’s basics are covered when you have your properties featured on real estate listing websites, and social media is the avenue where you can further you or your brokerage’s name. Whether it is Facebook, Twitter, or Instagram, your social media accounts are what allow you to constantly interact with your existing clientele, and gives them an avenue to easily refer you to others. One Key to Success Do not always push what you are selling on social media. The point of interacting with prospects online is to make your business more personable by promptly answering client queries and leading them to information.

Blog

Do Not Disregard Email

Email is an ideal marketing platform for brokers. It is inexpensive, and is easy to do once an automated setup is arranged anyway. While you do have a significant reach in social media, not everything you post can be seen by your entire network. With emails being more direct, almost all of the recipients will see what you sent into their inbox. One Key to Success Good content marketing, which is not always about letting your clients know of new properties on the market, but more of meeting their information needs and sending them timely emails with compelling and useful real estate content.

46 LAMUDI | JANUARY–MARCH 2017

By creating and writing on a blog, you can put your knowledge on full display online. Regularly publishing your own articles, and not just sharing noteworthy ones written by others in the industry, lets your prospects know that you do your homework and that you can be relied upon. One Key to Success Write a blog on a site with your own domain name and hosting. While getting up a blogging account on Blogger.com or Wordpress.com is for free, hosting your blog on its own site provides you a professional credibility and allows for more creativity.

Take Advantage of Video

Now before you balk at the idea in fear of high video production costs, keep in mind that producing videos need not be expensive. A digital camera with recording features and computer software for basic editing are usually enough to get the job done. Gmail accounts include a free YouTube channel, so setting up an account will easily provide you a platform to post your content and will be of little cost. One Key to Success Apart from the expected video tours of properties, you can also make office/agent videos for personal promotion. While your videos may not be the most professionally produced, you can make up for it by being informative and entertaining.

F e at ur e

Refresh Property Photos

If some of your properties have been listed for months or weeks now, then it is likely time to update the listings’ photos. It is almost summer now, so to coincide with the season, you can showcase the properties you are selling with photos that have them shown under the summer sun. One Key to Success Apart from updating photos, display properties during the current season, it is also important to make sure that sellers get the most honest preview of the property they will see in person. So if the garden has grown out or the seller refreshed the house’s paint, make sure they are seen in photos.

Give More Things for Free

Ask anyone, anywhere, they will tell you they enjoy receiving things for free. In the Philippines, most Filipinos’ heightened sense of gratitude is what will help them remember you. The most important thing to remember is that you should give your prospects something that is rather beneficial to them. One Key to Success If you have been a practicing broker for some time now, your level of expertise is all you will need. By providing services like property appraisals for free, you are providing something that is inexpensive to you while at the same time establishing yourself as a reliable expert with your target market.

Diversify Your Giveaways

Giving away items with company branding is a great way to not only have your clients remember you, but also get your name out to those who have yet to meet you. While traditional giveaway items include logo-adorned key-chains, buttons, and pens, you do not have to limit yourself to these and can go with more creative route. For example, you can a have a set of your business cards made as refrigerator magnets that clients can put in their home or workplace’s refrigerator for others to see. One Key to Success There are many ways to get your name out there if you think outside the box. If you have plenty of success in selling house and lots, you can give new homeowners outdoor garbage bins displaying your name and contact number as something of a housewarming gift, resulting in free advertising for you for as long as the bins are in use.

Localize Your Efforts

Real estate is said to be similar to politics in that it is won and lost per locale. So while you naturally would like to be the real estate leader in as wide and as many areas as possible, it is recommended that you localize your marketing efforts. This does not mean limiting your business to a particular area, but simply dealing with each one at a time. Through each concentrated effort, you will gain a high level of expertise on the real estate market of each area, and subsequently show its clients that you are one of the most reliable brokers in the area. One Key to Success Concentrated marketing efforts are most effective if you establish an extensive knowledge of the area. From the availability of basic utilities and health care, to knowing residential prices, clients will appreciate you providing plenty of useful and accurate information.

10.

Get Referrals Out of Positive Client Feedback Whenever you receive positive client feedback, the subsequent action is to have it featured on your website, social media accounts, and sometimes newsletters. While these are all effective, you can further make the most of customer feedback by asking for referrals.

Real estate is admittedly again an industry of connections. Most of these are established through referrals. If you already have an inkling that a client feels positive about the business you are doing, then by all means ask for referrals. One Key to Success Ask for referrals toward the end of your transaction, but not after it. Most brokers and agents commonly request for referrals after business is done. While nothing is really wrong with this, your client may no longer be in the state of mind to give you the best referrals.

JANUARY–MARCH 2017 | LAMUDI 47

F ea tu re

MASTER PLANNER words NIVELLE DUMLAO photography LINCOLN GASMEN

Architect and noted urban planner Felino “Jun” Palafox, Jr. on architecture, Metro Manila’s urban planning, and why he refused a million bucks for a hotel project.

48 LAMUDI | JANUARY–MARCH 2017

F e at ur e

hat exactly are the benefits of good urban planning? Highly acclaimed architect and urban planner Felino “Jun” Palafox Jr. is just the perfect man to ask. Welcoming the team of Lamudi and MyProperty at his eponymous architectural firm in Makati, Palafox gave a jovial smile that signified the start of the interview. Inside the meeting room where he was to share his insights about urban planning were numerous awards and plaques on display, recognitions garnered over four decades of much admired professional practice. The Pull of Architecture It seemed that architecture and urban planning were already in the mind of the young Palafox. According to his mother, the young Palafox was to be the most artistic among her children—the fourth in a brood of 10. He refused hand-me-down toys; instead, he collected tin cans and made his own. There was also an instance when he suddenly found himself acting as the foreman of the construction of a local basketball court, collecting building materials from various sources. And as he grew older, he realized that architecture, along with medicine and priesthood, were his vocations. Palafox entered the seminary in his teenage years, where he learned leadership by becoming president of the student council. He was later on exposed to international architecture thanks to his mentors from Europe and the United States. He also became a librarian, and books further piqued his interest in international architecture.

The Way to Urban Planning While taking up his Master’s Degree in Environmental Planning at the University of the Philippines through a scholarship grant from the United Nations Development Program, he

felt very fortunate at the opportunity to meet more people who are highly knowledgeable in his field. “Most of the visiting professors from many parts of the world are experts in their own fields. I learned more about urban planning, urban transport planning, housing, traffic, and urban regional planning, and not just their physical aspects as we also gained knowledge on engineering, socio-economic aspects, and metropolitan planning,” said Palafox. He then worked at what was then Public Works, Transportations, and Communications, which further taught him about urban and regional planning. And during his time as senior planner and team leader of Metroplan Manila at the age 25, he was invited to work in Dubai, becoming the first Southeast Asian and Filipino architect and urban planner to work in the Gulf city. “It was a life-changing experience. Then a young city, [the authorities in] Dubai entrusted me with their urban planning, architecture, transportation planning, and traffic management. They also asked me to prepare and lead the Architectural Elevations Committee, which approved buildings not just for their structural soundness, but also the look from the outside, and how the buildings dialogue with the other buildings next to them,” shared Palafox. With the young architect’s family in tow, he planned to work there for good, but two prominent businessmen felt otherwise.

“

Some architects have the skills, but they do not have the heart. Others have the heart, but they do not have the skills.

JANUARY–MARCH 2017 | LAMUDI 49

F ea tu re

“

Everything we do is pro deo patria et terra. In English, ‘for God, country, and the planet.

The Rejected $1 Million Fee But not every big-ticket project offer that lands on Palafox’s lap gets automatically accepted. Case in point: a hotel project in Subic with a $1 million architect’s fee. After winning the contract and learning that the client wanted to cut down approximately 300 decades-old trees, he declined to work on the said project as it is against Palafox Associates’ advocacy and principles.

Setting the Standards for Metro Manila While Palafox and his family were living in Dubai, two men invited him to go back home not only for a huge business proposal, but to help the country as well. Thinking he could not pass up such an opportunity, especially from two of the Philippines’ biggest business tycoons, he agreed to come back. “It was the late Enrique Zobel of the Ayala Group and Henry Sy Sr. of the SM Group who encouraged me to go back to the country while I was enjoying my job in Dubai. If not for those two gentlemen, maybe I never would have come home,” shared Palafox. Aside from being a consultant for Henry Sy Sr., he worked as chief architect and head of planning for Ayala Corp. and Ayala Land. He was involved in some of the developer’s projects that set the benchmark for residential and commercial properties in the Philippines, such as Ayala Alabang, Ayala Heights, and Cebu Business Park, as well as the redevelopment plans for the company’s Greenbelt commercial center. Furthermore, the late Eugenio “Geny” Lopez Jr. hired Palafox and his team to do the masterplan for the redevelopment of a 15.5-hectare lot in Makati, which eventually became Rockwell Center. The project’s first five residential towers—Rizal, Luna, Amorsolo East and West, and Hidalgo—were all designed by his firm, and while revamping Rockwell, Palafox suggested building a ramp from the EDSA–Estrella intersection, opening up the development’s private roads to the public for ease of access.

50 LAMUDI | JANUARY–MARCH 2017

“Everything we do is pro deo patria et terra. In English, ‘for God, country, and the planet.’ In every project we do, we keep these things in mind. We make sure to put the people first and their social equity; planet Earth or the environment because we just borrow the environment from future generations; prosperity, profit, and economic goals; culture, history, and heritage; and lastly, spirituality because we are just tools by the chief architect and engineer up there...not only to glorify Him but to help humankind,” explained Palafox. His decision stirred up quite a controversy and caught the attention of the local and international media. “After returning the $1 million architect’s fee,

CNN, BBC, and other international media organizations wanted to meet the crazy architect who gave up a million dollars just for a few trees. But for me, a 50-year-old tree yields a high value— the oxygen that it gives for 50 years, the rainwater it harvests, the fertilizer for the land, and the beauty and cooling effect it provides the environment,” continued Palafox. On Good Urban Planning and Value Appreciation According to Palafox, a good plan, or a good architectural design or master plan, is more benefit-heavy than costheavy. However, because the practice has always been to cut costs first, they have had to educate their clients first on the advantages of green architecture and building. “Spend a little bit more on good design, planning, architecture, and construction with good materials, and you will be spending a little bit more only on the first three years. The next ninety-seven years will be benefits, such as savings on energy, efficiency, and so on,” expounds Palafox.

F e at ur e

He added: “An implemented well-thoughtout urban planning and design not only realizes an ideal livable location, but consequently, it also increases the land value. Rockwell Center, for example, experienced one of the fastest land value appreciation in the past 25 years.”

tional seaports, and so on. So there is autonomy, and at the same time interdependence and a friendly competition. Architecture and urban planning can play a good part in that,” stated Palafox.

Sometimes tagged by others as an architect-activist because of his unorthodox proposals to help improve the country’s landscape with economic improvement in mind, he cited one of his revolutionary recommendations: “Why don’t we lease out those islands we can never protect to friendly countries on 1,000-year leases? That’s not new. Dublin in Ireland is doing it for their brewery. Besides, there are Filipinos all over the world. Perhaps their employers are friendly. We must invite them to invest, and give them the opportunity to lease our islands. Otherwise, we will be losing most of our islands. And these are no-brainer. For me, I am thinking of that not as an architect, but as a Filipino taxpayer.”

When asked how the Philippines fares when compared to other countries, Palafox stated that we are slow to reform. Compared to Dubai, he said that the city that used to be 200 years behind Metro Manila is now probably 100 years ahead.

Current Status

Camp Netanya | Bauan-Mabini Road, Anilao, Batangas, Philippines | Resort

That is why Palafox Associates educates their clients by introducing global best practices and trends. And Palafox is grateful that people are now more open and are starting to listen. He also invites Filipino millennials to participate and be more knowledgeable and active in urban and environmental planning.

Sultan Hassanal Bolkiah Masjid |

Tamontaka Bubong Road, Cotabato City | Worship

On the Duterte Administration While his firm is being commended abroad, Palafox laments the lackluster support given to urban and environmental planners locally. He adds that they are only remembered when disaster strikes, and that “the planners may have the best plans, but if the institutions of government do not support them, then it is not going to happen.” However, Palafox is optimistic of the new administration. He points out that President Rodrigo Duterte has been open to suggestions and unsolicited proposals when it comes to urban planning. He also approves of the president’s proposal to move to federalism. “I support the [federal movement] because urban planning is balanced. The development of our country is not balanced. Everything is all focused on Metro Manila. With federalism, every region has the opportunity to compete. Once we have regional centers, they can have their unique architecture. And then, each one of them can have their own international airports, interna-

“

We are encouraging millennials to join us. That is what we are also doing now. Because who will be the beneficiaries? Your generation.

Rockwell Center | Estrella corner JP Rizal Streets, Makati | Mixed-use

Flamingo Mall | Prince Majid Rd, Al Aziziyah, Jeddah 23338-8498, Saudi Arabia | Commercial

JANUARY–MARCH 2017 | LAMUDI 51

F ea tu re

THE EGONOMICS OF REAL ESTATE PROFESSIONALISM words JILLIAN CARIOLA photography JILLIENE BEDIA

A look into the life, achievements, and goals of multi-hyphenate PRC chairman for real estate Dr. Eduardo G. Ong

F e at ur e

o say that Dr. Eduardo G. Ong is a jack-ofall-trades would be an understatement: aside from being the chairman of the Professional Regulatory Board of Real Estate Service as appointed by former president Gloria Macapagal-Arroyo, he is also a licensed real estate broker, appraiser, and consultant; a teacher and dean; an author; and an international speaker. Dr. Ong also prides himself on being a lifelong learner, having earned six degrees in all: a bachelor’s degree in Commerce, a law degree, a master’s degree in business, and doctorates in business administration, public administration, and philosophy. And he hasn’t stopped yet; at an age when most people who have achieved as much would be taking it easy, he is currently working on his fourth doctorate, and one in criminology, at that. Lamudi Philippines and MyProperty. ph recently sat down with Dr. Ong, who also co-hosts a radio program and continuously churns out his cleverly titled EGOnomics—business-related words of wisdom—on Facebook, to talk about his journey from banking to real estate, his passion for real estate education, and how the local real estate landscape will be shaped by the ASEAN economic integration.

How did your interest in real estate develop? I was recruited even before college graduation because I graduated top of the class. I was recruited by banks. At the time, my first work was Equitable Bank. After eight months, I was pirated by Banco Filipino. At that time, Banco Filipino was the biggest savings bank in the Philippines, and we were the ones who spearheaded the development of the south. Up to now, BF Homes is the biggest subdivision in Asia because it covers three cities: Las Piñas, Parañaque, and Muntinlupa. At the time, I was working at Banco Filipino as credit investigator and appraiser. I checked on people who wanted to borrow. I evaluated properties on whether they are suitable for loan, and that’s where I learned the trade. Afterwards, I was promoted and became Marketing Head of the BF Group of Companies. I was focused on Pilar Development, which developed Pilar Village in Las Piñas. I was the CEO there. I learned my trade from the Aguirres [previous owner of Banco Filipino]. I owe everything to the Aguirres. When I took the real estate brokers’ exam in 1983, I topped it. But I was already with the bank and was already with the subdivision, so I started selling. It was a good thing that the old [Tomas] Aguirre, the president of the bank, allowed us employees to sell. I was able to sell

some properties during my spare time, like Saturday and Sunday. I brought along some of my clients to the site. That’s how I honed my marketing and sales skills. On top of your real estate-related occupations, you’re also an educator. How did you go from working at a bank to becoming a teacher? When I reached 39 and left Banco Filipino to pursue my own brokerage firm, I went from earning somewhere around Php100,000– 150,000 to just Php30,000–40,000. But I was paying my amortization, I was paying for my car, so to augment my income, I taught in college. Eventually, I became a dean of business in a university, and then a vice president for academics at the University of Perpetual Help in Las Piñas. When my business started growing, I left my administrative work as dean and just did some consultancy teaching. Now, I’m teaching business management in three schools: UST [University of Santo Tomas], UE [University of the East], and TUP [Technological University of the Philippines]. I also teach in Philippine Public Safety College or the PNPA, the Philippine National Police Academy. So my students are all majors, lieutenant colonels, and generals. The course I teach is a preliminary to promotion. If they don’t take my course, they cannot be promoted.

Dr. Ong during the interview with Lamudi’s Jacqueline van den Ende and Christopher Watine.

JANUARY–MARCH 2017 | LAMUDI 53

F ea tu re

And aside from teaching at the PNPA, you’re also continuing your education there? I’m almost 60 now and I’m still studying because I’m a lifelong learner. I’m completing my fourth PhD and it is a PhD in criminology, which I’m doing through a scholarship. Actually, there’s only one course that I paid for among my PhDs, and that is the one from UST. The other ones I achieved through scholarships. I’m now completing my dissertation. Hopefully by next year I will have four doctorates. You’re passionate in your advocacy for the professionalization of real estate. How big of a concern is it and how would you like to improve it? “Professionalism” is a word that is sometimes only spoken but not applied. That’s one of my greatest frustrations. But I would want to promote professionalism in the industry. I call myself a real estate educator. I am a diplomate in real estate management and human resource management. Most of the time, I hope I can read the minds of people who will try to defraud other people. In improving professionalism among [real estate] brokers, number one would be educating them on the professional way of life and the practice of real estate. Second is mentoring professionals to follow the right tenets of real estate practice. Third is continuous learning. They should be reading a lot. I’m projecting that in the next few years, the Filipino professionals will go a long, long way.

54 LAMUDI | JANUARY–MARCH 2017

Having been in the real estate industry for over 30 years, what would you say have been your greatest achievements so far? Making sales (laughing). No, my biggest accomplishment is contributing my knowledge, my erudition in propagating real estate professionalism. Right after passing the [real estate licensure] exam, I went into real estate education. I was a frequent speaker in almost all of the seminars in real estate since then. Real estate education is my passion, my career, my advocacy. As a PRC chairman, I started it all; I set up the mechanics, I set up the machinery. From zero, I was able to build and monitor the practice of the profession. There was nothing when I took over. In the implementation of the law, I was able to start up and pave the way for professionalism. I think that’s also my lasting legacy in the industry. I’m the first chairman of the PRC-RES, so what I did was to provide the roadmap or blueprint, the startup procedures and policies that can guide the real estate professionals in its work. What projects are you currently working on now? According to the Real Estate Services Act (RA 9646), only graduates of B.S. Real Estate Management (REM) are allowed to take the real estate licensure examination. It used to be that about 10,000 would take the exam and only 55–

56% would pass. Then in 2016, a very minuscule number took the exam. For brokers’ exam, only 39 because only 39 graduated from BS REM. For appraisers, 27, again because they passed the course and were allowed to take the exam. Because we cannot change the law, what I did was I crafted an alternative curriculum to allow those who are professionals already—those who already have [a bachelor’s degree]—to complete the course in one year on Saturdays and Sundays in a school accredited by the [Commission on Higher Education]. If you have taken up units during your undergraduate in your other course, they can be credited. After the professional subjects, they will only have to take 36 units and they are granted the degree of BS REM to qualify for the exam. The accelerated program will be open next school year, 2017–2018. Right now, we have close to 42,000 licensed real estate brokers and appraisers. But do you know how many are out there on the field with no license? One hundred thousand. That’s what we’re going to do, look into how we can invite them to the fold. Also, I have a book called Winning in Real Estate: Philippine Style that was

F e at ur e

originally published in 1990. I’ve met brokers who took the examination and passed the examination because of my book. Now, I thought, I have to revise it after 15 years because now we have a course in college, Bachelor of Science in Real Estate Management, and there is no textbook, so to speak. In the book, I talk about the A–Z of real estate. If you’re a professional, what does it take to be successful in your real estate career? I also talk about the market, as well as the RESA Law, the code of ethics. In the end, I also talk about the ASEAN Economic Integration and how Philippine real estate will adapt to it. Speaking of the ASEAN Economic Integration, how do you think it will affect the businesses of real estate brokers? It can help. Right now, I have been receiving a lot of inquiries from all over, from brokers in Singapore and Malaysia, who ask, “Are we allowed to practice real estate in the Philippines?”, and I tell them, “No. Why? Because you don’t allow us to practice [in your country].” Brokers in Singapore want to practice in the Philippines, so I ask them, “but will you allow us to practice in Singapore?” They say no, so my answer is no, unless you do it with a licensed real estate professional in the Philippines. I’m envisioning an ASEAN real estate professional registry of all real estate brokers and practitioners all over Asia based on some qualifications. Not every Tom, Dick, and Harry can practice abroad. You should have established your credibility, your trustworthiness, and your ability to close a transaction. In other words, if you want to go ASEAN or go global, you have to have a track record. Only then can you apply in the registry. Only those in the ASEAN registry of real estate professionals will be allowed to practice in the 10 countries [of ASEAN].

tions. We have good rapport with people. But we have not learned the environment and landscape of other countries. We should learn, which is why continuous real estate education is important. That’s why I tell associations to go out, go abroad. Generally, how do you think the Philippine real estate industry will fare in the next few years? I think the real estate [boom] will still continue in the next decade. Now we have about 10.5 million overseas workers sending about $25 billion [in remittances] a year. That contributes a lot. Most of the clients that brokers are looking at are OFWs. They are the ones buying condominiums, single-attached homes in subdivisions, and land. I think the industry will still be very robust in the next 10 years. But looking at it, I think our economic fundamentals must be very strong. In the next five years, we will have an abundance of listings. The thing is, what’s more important is training and education of our professionals so that they can reach their goal. The greatest problem is unprofessionalism, but you can solve that through training. What else would you like to achieve in your remaining term? I would like to complete the implementation of the law. There are many provisions of the law that have not yet been clearly defined, and I would like to define all of them, hoping that [it will lead to] the creation of a good, acceptable, and judicious code of ethics. We have a code of ethics but it is not all-encompassing.

About the RESA Law Also known as Republic Act No. 9646, the Real Estate Service Act of the Philippines, or RESA Law took effect on July 30, 2009, and deals primarily with the acts generally considered to be real estate services, the qualifications of those who may practice the profession, and the penalties corresponding to violations of its provisions. 1. Section 3(g) of RESA Law lists five types of real estate professionals: real estate consultants, appraisers, assessors, brokers, and salespersons. 2. Those applying to become a real estate professional must be Filipino citizen, must have a college degree (or at least 2 years of college education for salespersons), and have not been convicted of any crime. 3. Section 20 stipulates that those who have been practicing real estate services before the RESA Law took effect in 2009 can be issued a certificate and professional ID without taking the prescribed exam, provided that they are: Brokers, appraisers, or consultants licensed by the Department of Trade and Industry Assessors or appraisers who hold permanent appointments and have been practicing their profession for the last 5 years and have passed the Real Property Assessing Officer exam conducted by the Civil Service Commission Assessors or appraisers who hold permanent appointments, have at least 10 years’ actual experience in real property appraisal or assessment, and have completed at least 120 hours of accredited training on real property appraisal

“

Not all of the nearly 42,000 [licensed Philippine real estate brokers] can be allowed to practice abroad because only some are qualified to do it. Maybe out of the approximately 42,000 in the Philippines, only about 5,000 will qualify. Filipino brokers enjoy good communication skills. We have good public rela-

I want to be able to help and contribute. I’m a lifelong learner and I want to share what I have learned, what I have read, and what I have absorbed in life to my fellowmen, to my fellow brokers. I want to shepherd the industry, the real estate professionals so they can reach greater heights.

JANUARY–MARCH 2017 | LAMUDI 55

F ea tu re

Architecture with a Purpose words PIA LORRAINE YATER-DALMAZO

PHOTOS COURTESY OF WTA

WTA’s principal architect William Ty Jr. discusses how his firm is designing its way to change the urban landscape

ith almost 10 years in the business, the collaborative company that now has 90 people under its name is undeniably succeeding in their game. Lamudi recently sat down with its principal architect, William T. Ty Jr., to discuss WTA’s one goal: to serve the community and the next generation through socially relevant architecture.

56 LAMUDI | JANUARY–MARCH 2017

Following its tagline, “Design, Refine and Define,” the firm strives to craft not just buildings and structures but a place that pulsates with life and purpose. WTA design architectural landmarks that are refined and defined according to its future use and its impact to the urbanity of a city. A notable brainchild of the company that displays their dedication to develop and nurture is The Book Stop Project. “Libraries today are considered old and musty institutions, especially by the younger era. So to revolutionize

this monolithic structure, we gave it a fresh look and reintroduced it to the public in an exciting form,” shared by Ty. “We locate the book stops in public spaces like piazzas and parks to activate them and encourage people to visit. The idea is, if you have so many of these small stops across the city, people will go there instead of coffee shops,” Ty added. What started as a data-gathering exercise turned out to be a successful public space

F e at ur e

where people can convene for knowledge and information. The first foray of the pop-up public library in Ayala Triangle and then Intramuros proves that books never go out of fashion. Over 500 visitors come to the stop every day to donate, borrow, or read a book. Even with the advent of technology that spreads content like wildfire, the satisfaction of reading and finishing a book is still incomparable. The success of the book stop attested that places like libraries are better situated in an accessible public space. Now building its second stop, WTA is sure that they can replicate their success and books will be available for more and more Filipinos. The Book Stop, one of the many contributions of WTA to the society, is also a finalist in the World Architecture Festival in Berlin held in November 2016. Redefining the future of architecture

their design of a mall—the ultimate hang-out place of everyone—is different and targeted. Instead of designing the look of the retail areas, WTA conceptualize the public space inside that will complement the shops and boutiques surrounding it.

Lauded as one of the top ten architectural firms in the Philippines in 2015, WTA is proud that they make and create edifices that are significant and helpful to society.

“Another project that I am most proud of is the Oriental Legazpi in Bicol. This magnificent hotel sits atop a hill looking white and glorious overlooking another splendid gem that is Mount Mayon,” Ty shared. Resembling a white castle on a hill, Oriental Legazpi is also a go-to destination for tourists who want to see the beauty of the perfect cone. Likewise, when the volcano erupts, journalists and photographers alike flock to the hotel to capture history.

As the principal architect, Ty has three major influences in his craft. Top of it is his love for the narrative structure of books and the wealth of information that everyone can get from them. The architect is also motivated and inspired by various renowned cities that he has visited. According to Ty, he walks around amazed at the diverse cities he has been to and observes how they work. He takes note of how each city is different from the other, reviews all of their aspects, and finds something new that he can explore and adapt. Lastly, as a toy collector, his fascination for toys and science fiction also gave him one of his greatest lessons. “Toys and fantasy allow me to imagine different realities and endless possibilities,” Ty ended.

“Creative enterprises like ours should be based on ideas. Enriched with collaboration and teamwork, we are shaping functional architecture and grow to different stages,” Ty enthused.

Design inspiration and influences

“We take pride in what we build. We study the background and the context before we come up with possible designs. Taking into consideration its long-term use, we always ask ourselves what the future of various building types should be. For example, what a library should be in the next century, what a market or a condo should be. That’s how we explore and create,” explained Ty. One of the recent projects that WTA is working on is the Luxury Flats in San Juan. Trying to veer away from the numerous townhouses that are sprouting everywhere within the area of San Juan, WTA designed a 12-unit condo where owners can have the entire floor to themselves. “We envision it as a secure and private location that offers a generous floor plate, has no stairs, have windows, good views and ventilation from all sides, and amenities that you cannot get from a townhouse,” Ty said.

PHOTO BY LINCOLN GASMEN

“Retail spaces will also be conveniently located at the lower floors of the building. This is how we show the alternative way of moving forward,” Ty added. WTA enjoys designing public spaces, which the team considers their forte, and their mall project is a testament to that. For example,

JANUARY–MARCH 2017 | LAMUDI 57

F ea tu re

FROM PAGEANTRY TO PROPERTY MANAGEMENT words BRAULIO GIRON JR. photography LINCOLN GASMEN hair & make up ALFIE EUFEMIO, MICHELLE TAMULA

1999 Miss Universe first runner-up and current Philippine Realty TV host Miriam Quiambao-Roberto discusses a little bit of what she enjoys as a real estate investor and lessor

58 LAMUDI | JANUARYâ&#x20AC;&#x201C;MARCH 2017

F e at ur e

ble to build a decent amount of capital through lucrative television and movie contracts, as well as different product endorsements, it is easy to assume how plenty of celebrities and media personalities end up venturing into business and investments. It’s something of an expected progression, even if being a professional financier is not initially in the cards for many of them. This, however, was not the case for Miriam Quiambao-Roberto. The daughter of successful accountant parents, she was taught to save at a young age, and shares that she has owned a savings

account since she was eight years old. With these initial inclinations to save and manage money, Miriam always seemed destined to be an investor and businesswoman, even before finding herself in the limelight as the first runner-up of the Miss Universe Pageant in 1999. Previously working as a broker but now having transitioned into being more of a lessor, property manager, and buy-andsell pocket developer, the now owner of Q Estates Management and Managing Director of 3Win Realty & Development Corporation shares some insights on her decade-and-a-half long foray into real estate.

Her real estate beginnings Miriam carried the frugality she learned and practiced throughout her youth into her post-pageant showbiz career, which led her to other ventures. While many of her peers in the industry were making the most of the extravagance commonly associated with being rich and famous, the current host of Philippine Realty TV was saving money, until one day she realized she had a significant amount that would be best used as an investment. “As young as eight years old, I was already a saver. So, seeing as I had so much money in my bank account, sabi ko ‘parang this is too much to keep in the bank,’” Miriam shares. “Back then in 2001, maybe around two percent or less per annum yung interest, and now it is even less than one percent, so sabi ko ‘I think I should invest this money rather than just keep it in a savings account.’” “So I started looking for opportunities to invest. Then a friend of mine encouraged me to read Rich Dad, Poor Dad of Robert Kiyosaki. After reading that, I thought about investing in real estate. At the time, I had a friend who I met in the seminars I attended, she discovered foreclosed properties. Sabi niya ‘why don’t we pool our money and invest it on foreclosed properties, with only ten percent nest money in the bank, we can already gain control of these properties and have them rented.’”

“So I thought why don’t we do that? So with the 250,000 pesos life savings I had in the bank, I pooled with the money she had and we bought a number of apartments sa Cubao. That’s how I started investing in real estate and be in property management.” If she were to impart any of the knowledge she gained from being an investor at the age of 26, it would be that it’s never too early to invest. “Once you start to have savings, you should go ahead and invest. Actually my son has already invested in real estate through mutual funds, and he’s only 8 years old. So any time is the best time.”

JANUARY–MARCH 2017 | LAMUDI 59

F ea tu re

On enjoying being a hands-on lessor and host Miriam’s photo-shoot and interview for Lamudi was conducted in a condominium unit she once resided in, but is now a unit she has placed for lease on Airbnb after getting married in 2014. Along the unit’s walls are notes and reminders for guests or tenants, with each ending in ‘for any concerns, call Miriam,’ evident of how hands-on she is with her properties. She also directly greeted the magazine staff at the lobby beforehand, not a manager or personal assistant. Miriam’s condo unit for lease in Bonifacio Global City.

She shares how her enjoyment of being handson with rental property stemmed from not just the frugality of not hiring too many people, but also from discovering the benefits of shortterm leasing. “I moved out after getting married in 2014, and decided to rent this [condominium unit] out. In the beginning, I was leasing this out longterm. I had an 8-month tenant, then a 2-month tenant. And then I was marketing the unit with the help of my broker network and also online, for hopefully another long-term client. But then, as a user of Airbnb, I see how short-term leasing can also help me make money while I’m waiting for that long-term tenant, I decided to list this on the website.”

60 LAMUDI | JANUARY–MARCH 2017

“I had my first few guests, but then their stays collided with the schedules possible long-term tenants wanted to view the unit. It wouldn’t have been at its best with guests’ things everywhere, so we’d cancel. I later realized I was making more leasing short term, so I decided to keep it that way. If before I was just using this for money, later on I found that I really enjoyed being hands-on. It’s fun for me. It’s as if I’m hosting people in my own home, which is true, and from just being a lessor, it’s as if I transitioned into the hospitality business.” On being a celebrity in property management Like with almost any industry, there can be a couple of caveats to being a celebrity in property management, but Miriam opts to just appreciate the immediate trust it affords her, as well as the instant marketing. “Being well-known allows me to have the benefit of trust from people immediately. They wouldn’t think that I would fool them because I’m quite known, and if something happens, they can just report me to the police or the authorities and the bad news would spread like wildfire. So, most people really think that if people are famous, they are more worthy of trust because they wouldn’t want to put their reputation on the line. That’s a benefit for me.” “On top of that, kapag sinasabi, ‘O, yung condo na ito ang may-ari si Miriam Quiambao,’ then potential tenants’ eyes light up and ask if it’s true and they want to know more. Parang mas merong favor, kasi yung hatak nung pangalan gives a slight marketing advantage.”

F e at ur e

On what the future holds While Miriam admits that her businesses and real estate investments are modest compared to larger corporations who become immediately affected with changes in the political landscape, her experience gives her extensive insight on what to look forward to with the looming change in Philippine governance. “Judging from how our stock market went up after the elections, I think the foreign market really liked that we had a clean and honest elections, and that helped also raise our stock. Although it has since corrected a bit, I look forward to how President Duterte will effectively eliminate crime and corruption in the government. Because a lot of businesses and even foreign trust are affected if our country is laden with graft and corruption, as well as crimes.” “If indeed his administration will be effective in eliminating [crime] within three to six months, then it means that we’d have more trust from foreign investors. There would be better business from all walks of life, and it would spell very well for our economy.”

On doing one’s homework and looking for guidance Although Miriam began her real estate investment career at a time when the market was just rising, she shares that the present might be the best season to invest. “Now is the best time than any time, at this season, to invest, because the markets are doing great for our country, with the economic grading systems saying we’ve gained in the past years and hopefully in the future, so the potential is there.”

“

The true key to succeed now, or at any other time, is simple due diligence.

She shares that the true key to succeed now, or at any other time, is simple due diligence. “Even before we start investing, we need to investigate beforehand. We need to know where we’re putting our money into. We need to do our due diligence, to make sure that it’s not just a scam we are investing in, and our finances will be stewarded efficiently. But most of all, we should pray for wisdom, so that we will know how to manage our income, so we can have a better future, for ourselves and also for our family.”

With initial inclinations to save and manage money, Miriam seemed destined to be an investor and businesswoman, way before finding herself in the limelight.

JANUARY–MARCH 2017 | LAMUDI 61

R ea l E s t a t e G ui d e

Baguio Whatâ&#x20AC;&#x2122;s in store for property buyers and investors in the City of Pines

fficially declared the Summer Capital of the Philippines in July of 1903, Baguio served as a popular hill station during the American period for commonwealth officials to escape the summer heat of Manila. Although the city has long outgrown its summer capital role and has since evolved into a highly developed urban center, it continues to serve as the main refuge for visitors and residents intent on escaping the tropical heat common to the Philippines as a whole.

62 LAMUDI | JANUARYâ&#x20AC;&#x201C;MARCH 2017

Living, Learning, AND WORKING IN BAGUIO Situated approximately 250 kilometers north of Metro Manila, Baguio is a place teeming with business and employment opportunities. The city is also considered a college town, being home to a number of esteemed colleges and universities, including the University of the Cordilleras, the University of the Philippines Baguio, and Saint Louis University. The city also hosts the Philippine Military Academy.

Baguio City Real Estate Distinct is what can best describe Baguio’s real estate market when compared to others in the Philippines. The city’s landscape and climate alone have made its properties different from the rest of the country, as most are designed comfort and protection from the cold climate in mind. It mountainous and hilly terrain are also kept in consideration, resulting in structures not commonly seen in places like Manila. Being a popular vacation spot, the city’s residential real estate market is quite buoyant. Lamudi data shows that Baguio’s average house price stands at Php9.89 million, one of the most expensive of any city outside Metro Manila. The city also has one of the most number of listed properties for sale, with almost 800 properties listed in the property website.

New Developments to Watch Out for Similar to other highly urban areas in the country, Baguio has seen the emergence of numerous condominiums and apartment complexes, albeit developed to best suit the city’s characteristics. Some of these developments include the following. 88 Gibraltar (Megaworld Corp.) A Mediterranean-inspired condo homes community situated at Gibraltar Road in Baguio City, 88 Gibraltar provides residents with relatively easy access to the Summer Capital’s key destinations yet still allow them to have a home in one of the city’s most serene settings. Building features and amenities include 24-hour security, a centralized mailing system, a multi-purpose hall, a comprehensive fitness center, and a children’s playroom, among others. Melbourne Towers (Goshen Land) Serving as a combination residential and commercial development, the Melbourne Towers located near Baguio City’s key commercial district of session road was designed for renters to become owners. Space in the development can be acquired via a relatively easy installment and down payment program, with investors provided with immediate access to amenities like pay TV, broadband Internet, 24-hour security, and a swimming pool.

AT A GLANCE: BAGUIO REAL ESTATE (AS OF DECEMBER 2016)

Ave. house price:

Baguio

PHP9.89 Million Ave. price Condo PRICE:

PHP4.43 Million

JANUARY–MARCH 2017 | LAMUDI 63

R ea l E s t a t e G ui d e

Bacolod What’s in store for real estate buyers and investors in the City of Smiles

nown to have some of the nicest citizens in the Philippines, the city of Bacolod has earned itself the moniker “The City of Smiles.” Apart from having friendly and genuinely hospitable people, Bacolod is also quite the tourist destination because of heritage sites like the San Sebastian Cathedral, celebrations like the Masskara Festival, and dishes like chicken inasal.

But what about living in the city? What exactly can homebuyers and other property-hunters who have yet to reside in Bacolod expect when they acquire real estate in the city?

64 LAMUDI | JANUARY–MARCH 2017

A MODERN YET LIVABLE CITY Bacolod is mostly a tourist destination, and in some instances also recognized as an education and transport hub. It is served by the Bacolod-Silay International Airport, which is situated 15 km northeast of the city in Silay, as well as the Banago Wharf and BREDCO Port, while it is also home to notable institutions of higher learning, including the University of St. La Salle. To those better informed and have experienced Bacolod, however, the city is one of the most livable cities in the country, with Money Sense magazine going as far as calling Bacolod the “Best Place to Live in the Philippines” back in 2008. With a population of 561,875 as of the 2015 Census, it is the second most populous city in the Visayas after Cebu City. The city’s local economy is rapidly growing, thanks to information technology (IT) and business process outsourcing (BPO) activities, and its agriculture industry also continues to thrive, with sugar plantations a common sight in Bacolod’s landscape.

BACOLOD REAL ESTATE MARKET OVERVIEW At present, property prices in Bacolod can be considered relatively more affordable compared to Metro Manila and neighboring Metro Cebu, especially Cebu City and Lapu-Lapu City. There is, however, a foreseeable increase in the demand for real estate in the city, what with the Capitol-owned Negros First Cyber Centre (NFCC) in the city. The NFCC is the latest techno-hub in the city and is owned by the provincial government. The city is also getting a lot of attention in recent months, thanks to a couple of high-profile projects from one of the country’s best known real estate developers. Andrew Tan-led Megaworld Corporation launched two mixed-use projects in Bacolod: the 34-hectare Upper East on the eastern side of the city, and the 50-hectare Northill Gateway, which is located along Circumferential Road on the boundary of Talisay City with Bacolod City. Aside from these, Bacolod is also home to a number of other real estate projects, including Avida Village North Point, Camella Bacolod, and Lumina Homes Bacolod.

AT A GLANCE: BACOLOD RESIDENTIAL REAL ESTATE

(AS OF DECEMBER 2016)

Bacolod

Ave. house price of 3br houses:

PHP5.01 Million Ave. house price of 4br houses:

PHP6.01 Million

JANUARY–MARCH 2017 | LAMUDI 65

SPONSORED BY

P r o p e rt i e s F o r S al e

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.: Email:

TBD DDC Land, Inc. Marquesa at North Dasma Garden Villas House and Lot Brgy. Salawag, Dasmariñas City, Cavite Php5,233,000 154.32 sqm +632-551-8888, +63-917-5288315, +63-918-8450008 marketing@ddcland.com

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.: Email:

869753 DDC Land, Inc. Mercedes at North Dasma Garden Villas House and Lot Brgy. Salawag, Dasmariñas City, Cavite Php4,683,000 153.23 sqm +632-551-8888, +63-917-5288315, +63-918-8450008 marketing@ddcland.com

869756 DDC Land, Inc. Margaret (End Unit) at North Dasma Garden Villas House and Lot Brgy. Salawag, Dasmariñas City, Cavite Php5,395,000 157.33 sqm +632-551-8888, +63-917-5288315, +63-918-8450008 marketing@ddcland.com

66 LAMUDI | JANUARY–MARCH 2017

869758 DDC Land, Inc. Madeline (Inner Unit) at North Dasma Garden Villas House and Lot Brgy. Salawag, Dasmariñas City, Cavite Php4,273,000 146.72 sqm +632-551-8888, +63-917-5288315, +63-918-8450008 marketing@ddcland.com

P ro pert ies F or S al e

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.: Email:

JANUARY–MARCH 2017 | LAMUDI 67

SPONSORED BY

P r o p e rt i e s F o r S al e

Property ID: Seller Name: Property Type: Location: Price: Lot Area: Floor Area: Contact No.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact No.: Email:

Property ID: Seller Name: Property Type: Location: Price: Floor Area: Contact No.: Email:

868179 Teresita Flores Tondo Industrial Lot Tondo, Manila Php42,000,000 755 sqm +63-917-8800497 triajuanoflores@yahoo.com

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact No.: Email:

871863 Jaypee Di Tan David Six Senses Residences Tower Condominium Macapagal Boulevard, Pasay City Php9,250,000 54 sqm +63-927-9071888 jpditan5@yahoo.com

868044 Teresita Flores Commercial Lot Pulang Lupa Dos, Las Piñas Php8,000,000 290 sqm 150 sqm +63-917-8800497 triajuanoflores@yahoo.com

871104 Jaypee Di Tan David Time Square Grand Central Park Condominium Bonifacio Global City Php17,000,000 100 sqm +63-927-9071888 jpditan5@yahoo.com

68 LAMUDI | JANUARY–MARCH 2017

P ro pert ies F or S al e

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact No.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact No.: Email:

937028 Kristine dela Cruz The Rise, one-bedroom unit Condominium Makati City Contact Seller 27.17 sqm +63-915-5271210 mkristinedc@gmail.com

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact No.: Email:

930148 New Gen Realty Zambia Townhouse, Three Bedrooms Townhouse Better Living, ParaĂąaque Php4,800,000 128 sqm +63-917-5766188 geninciong@yahoo.com

937041 Kristine dela Cruz The Rise, two-bedroom unit Condominium Makati City Contact Seller 73.56 sqm +63-915-5271210 mkristinedc@gmail.com

922624 BestSellingHomes Realty Corp. 2 Alexandra, Lancaster New City Cavite House and Lot Alapan II-B, Imus, Cavite Php3,579,520 100 sqm +63-995-7667417, +63-933-5336839, +632-894-4734 bestsellinghomesmarketing@gmail.com

JANUARYâ&#x20AC;&#x201C;MARCH 2017 | LAMUDI 69

SPONSORED BY

P r o p e rt i e s F o r S al e

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact No.: Email:

Email:

936649 BestSellingHomes Realty Corp. Vivienne, Bellefort Estates House and Lot Molino IV, Bacoor City, Cavite Php5,172,000 110 sqm +63-995-7667417, +63-933-5336839, +632-894-4734 bestsellinghomesmarketing@gmail.com

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot Area: Contact Nos.: Email:

936812 Catherine Agutaya La Residencia Lot Brgy. Don Jose Sta. Rosa, Laguna Php2.160 million 180 sqm +63-917-5519003, +63-939-9130680 katrina0973@gmail.com

863890 BestSellingHomes Realty Corp. Pines, Carmona Estates Townhouse Carmona, Cavite Php1,408,000 60 sqm +63-995-7667417, +63-933-5336839, +632-894-4734 bestsellinghomesmarketing@gmail.com

863890 Rommel Lazatin Mosaic Tower Residences Condominium Legazpi Village, Makati Php6 million 38 sqm +63-917-6488109 rommel.lazatin8@gmail.com

70 LAMUDI | JANUARYâ&#x20AC;&#x201C;MARCH 2017

P ro pert ies F or S al e

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot/Floor Area: Contact No.: Email:

NA Marvin Domingo Wind Crest House and Lot Paliparan I, Dasmariñas, Cavite Php4,479,888 132 sqm/123 sqm +63-997-5799743 marvs_ac@yahoo.com

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot/Floor Area: Contact No.: Email:

NA Ryan Carlo Dela Cruz Sun Valley Estates House and Lot Inarawan, Antipolo, Rizal Php15,500,000 451 sqm/230 sqm +63-917-5285588 radlcruz01@gmail.com

NA Dominic De Vera Sorrel Residences Condominium Sampaloc, Manila Php3,881,000 58 sqm +63-905-3640186, +63-995-2512571 NA

NA Ryan Carlo Dela Cruz Sun Valley Estates House and Lot Inarawan, Antipolo, Rizal Php15,500,000 439 sqm/210 sqm +63-917-5285588 radlcruz01@gmail.com

JANUARY–MARCH 2017 | LAMUDI 71

SPONSORED BY

P r o p e rt i e s F o r S al e

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.: Email:

NA Jaclyn Lim Bellagio Condominium Tower 2 Condominium BGC, Taguig City Php9,800,000 62 sqm +63-917-7269043, +632-217-6708 bestdealproperty88@gmail.com

Property ID: Seller Name: Property Type: Location: Price: Lot/Floor Area: Contact No.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot/Floor Area: Contact No.: Email:

NA Phil. Property Expert / Joanne H. Almaden Signa Designer Residences Condominium Legaspi Village, Makati City Php13,265,000 76 sqm +63-917-5206762, +63-916-4683478, +632-917-8130, +632-906-6835 info@philpropertyexpert.com, mktg@philpropertyexpert.com

L-PH-00401825 Caren Tiangco Filinvest 2 Quezon City House and Lot Quezon City Php8,800,000 282 sqm/220 sqm +63-917-5815699 carentbrokersuperstars@gmail.com

72 LAMUDI | JANUARYâ&#x20AC;&#x201C;MARCH 2017

NA Antonette Verceles Ayala Alabang House House and Lot Ayala Alabang, Muntinlupa Php60,000,000 691 sqm/500 sqm +63-917-8357222 atverceles@gmail.com

P ro pert ies F or S al e

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot/Floor Area: Contact No.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot/Floor Area: Contact Nos.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot/Floor Area: Contact No.: Email:

NA Jamie So Kohana Grove House and Lot Silang, Cavite Php2,751,100 90 sqm/74 sqm +63-917-6544048 jsrealtyhub@gmail.com

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact No.: Email:

NA Armando Francisco Studio Apartment for Lease Condominium J.P. Rizal, Project 4, Quezon City Php7,500/rent 18 sqm +63-917-5247474 t_z_francisco@yahoo.com.ph

NA Edmund Tario Hillsborough Village House and Lot Alabang, Muntinlupa Php49,500,000 400 sqm/386 sqm +63-906-3012418, +632-922-0316 edmund_tario@yahoo.com

NA Carina Gaila McKinley Hill Village House and Lot Fort Bonifacio, Taguig City Php60,000,000 193 sqm/390 sqm +63-915-2592375, +63-919-5853116 carinagaila2@gmail.com

JANUARYâ&#x20AC;&#x201C;MARCH 2017 | LAMUDI 73

SPONSORED BY

P r o p e rt i e s F o r S al e

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot Area: Contact Nos.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Floor Area: Contact Nos.: Email:

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot/Floor Area: Contact Nos.: Email:

NA YCP & A Realty Parkwood Greens Executive Village House and Lot Maybunga,Pasig City Php 15,500,000 315 sqm/450 sqm +63-917-8828828, +63-927-5293658 ycpa.realty@gmail.com

Property ID: Seller Name: Property Name: Property Type: Location: Price: Lot/Floor Area: Contact Nos.: Email:

NA Leonardo Jarina Simbit Chateau de Paz Subdivision House and Lot Dauis, Bohol Php8,176,250 189 sqm/159 sqm +63-917-5968375, +63-908-6015888 ljsimbit.fortune@gmail.com

NA Castille Resources Realty Development Inc Vera Estates Residential Lot Barangay Tawason, Mandaue City, Cebu Php4 million 200 sqm 322-363270, +63-917-3068851 salesmarketing.castille@gmail.com

NA Grand Land Inc. Grand Tower Cebu Condominium North Reclamation Area, Mabolo, Cebu Php3,199,000 25 sqm +63-932-8852377, +63-917-6240080, 324-127999, grandland888@gmail.com

74 LAMUDI | JANUARYâ&#x20AC;&#x201C;MARCH 2017

Eve nt s

November 18â&#x20AC;&#x201C;20, 2016 Megatrade Hall 3, SM Megamall, Mandaluyong City

11 Lamudi Philippines Founder and CEO Jacqueline van den Ende, Professional Regulatory Board of Real Estate Service Chairman Dr. Eduardo Ong, and Jones Lang LaSalle Associate Director for Research Claro Cordero offi2 Dr. Ong shared his cially opened the event. 2 views on the future of real estate with members of the media and the blogging community. 33 Van den Ende, along with Megaworld Brokers Network Manager Ivan de la Luna and Bel-Air Realty & Brokerage, Inc. Director Anton de Guzman, enlightened real estate practitioners at the Lamudi Housing Fair Bootcamp. 4 An attendee struck a pose with the movable 4 photobooth set while trying out the Lamudi virtual reality goggles. 55 Registered guests had the privilege of learning from home buying and investment seminars, participating in property auctions, and experiencing real estate virtual reality, among other things. 66 At one of the seminars, GH Heritage Realty Inc. President Gary Hablero advised would-be investors about the investment potential of Airbnb properties in todayâ&#x20AC;&#x2122;s market. 77 During the three-day event, hopeful participants tried their luck at the Spin the Wheel game.

Eve n t s

5 September 3â&#x20AC;&#x201C;4, 2016 Bonifacio High Street Activity Center, BGC, Taguig

1 The Lamudi VR Expo was a free-for-all event 1 that aimed to demostrate the power of virtual reality in taking real estate buying and selling to the next level. 22 Lamudi employees put their game faces on as they welcomed the throng of event attendees. 33 This furry guy greeted attendees who registered to use the VR goggles, join games, and visit various booths. 44 Aside from exploring properties through VR goggles, registered attendees also enjoyed raffle prizes, as well as discounts offered by property sellers. 55 Guests visiting the Globe karaoke booth sang their hearts out for movie passes and other freebies. 66, 77, 88 Technology transcends gaps: visitors of all ages strapped on VR goggles to explore real estate properties.

Find your dream home online