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Friday, May 16, 2003
Housing still a buyer's market
By Christie Enriquez-Uayan
IF YOU are planning to buy a house, now is the time to do so.
For the first quarter of this year, the expected earnings of the housing sector is expected to reach a low P40 million.
This was based on the cost of total contract of about seven high-end and middle end-housing developers in the city.
But the amount, according Warphy Sarande, board of trustee member of the Davao Board of Realtors, is the total contract price of the housing projects, meaning, this is how much the developers are expecting to get within a twenty- five year stretch, the period of time in which the mortgagors of housing units shall have totally paid.
Sarande said the city is still considered a "buyer's market", where prices of real properties and housing units are really cheap.
The realtor, however, noted that the amount could have been higher if the problem on the city's security did not crop up.
"Its the rule of thumb. An investor will really consider the peace and order situation of a country, it's a priority consideration," Sarande told reporters during Thursday's Club 888 forum.
In terms of competition, Sarande said that the developers targeting high-income families are more favored over the investors targeting middle-income families.
Most of the middle-income families have chosen to avail of the low cost housing projects in the city, because the prices being offered, ranging from P1, 500 to P2, 500 are the only ones they could afford.
(May 16, 2003 issue)
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