How Duterte Can Improve Philippine Real Estate?

Wazzup Pilipinas!

As former long-time Davao mayor Rodrigo Duterte officially takes his seat as president of the Philippines, many are still speculating as to the new administration’s impact on the country, especially on the local economy. The real estate industry in particular has been enjoying its ride for a few years now, as seen in the rise of new developments both in Metro Manila and beyond, leaving people wondering if the property business will be able to maintain its momentum under a new government. Lamudi Philippines lists some of the things that the Duterte administration can do to ensure the continuous boom of real estate in the country.

Decrease Crime and Corruption

During his campaign, President Duterte’s platform has always been to eradicate crime in the country to improve the level of safety. But decreasing the crime rate will actually do more than just allow people to move around freely with no fear of imminent threat to their well-being. An uncorrupt and decriminalized socio-political landscape means a less risky investment to foreign companies who are considering bringing their business to the Philippines. More specifically, it would lead to the continuous growth of the business process outsourcing (BPO) sector, which is being seen as one of the main contributors to the country’s good economic standing.

Make Socialized Housing a Top Priority

Home ownership is probably the biggest dream of all hardworking Filipinos, yet the current property market lacks the supply to make this a reality. In Metro Manila, the current minimum wage ranges from Php454 to Php491 for non-agricultural workers, and Php454 for those in the agricultural sector, and even lower for those working outside the National Capital Region (NCR). Even with the availability of home loans from government sectors and private lenders, saving up for a home is still a challenge once basic needs, children’s tuition fees, and emergency funds are taken into account. If the new administration were to focus on meeting the demand for affordable housing, buying a home whether in Metro Manila or in provincial areas would be easier for the average Filipino family.

Improve Infrastructure

Accessibility is one of the factors that buyers take into account when purchasing a property, which is why condos and houses close to Metro Manila’s business districts cost more. But if one’s workplace and potential new home are separated by bad traffic congestion and even worse road conditions, what chance do farther-off properties have, even with a slightly lower price tag than those found in prime real estate areas? Better implementation of traffic laws, improving thoroughfares, and building more roads that connect Metro Manila to its provincial neighbors can help alleviate road conditions, and will open up more options for buyers and encourage them to consider purchasing properties outside known (and more congested) key areas. Also, bringing telecommunications and utilities to underserved areas of the Philippines should encourage developers to construct more homes in provinces, providing current and future residents with a safer and more comfortable lifestyle.

Promote Sustainable Building

Green building is steadily gaining momentum in the real estate industry, but not all have adjusted their developments and construction practices to accommodate sustainable elements. By incentivizing the creation of more sustainable residential, commercial, and retail structures, not only are developers able to do their part in lessening their carbon footprint, they’re also helping buyers and renters do the same thing. Not only that, green designs that allow the entry of natural light and improve air circulation help residents and tenants economize and save money in the long run. 

President Duterte’s Commitment to Cut Red Tape

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Leading telco provider Globe Telecom welcomed President Duterte’s commitment to improve government services by reducing bureaucratic red tape, expressing hope this will lead to the standardization of LGU permits and fast track the approval process of securing permits to build cell sites and right-of-way.

“We are optimistic that the policy direction made by President Duterte will be immediately implemented and thus shorten the permitting process for cell sites and right-of-way,” said Globe General Counsel Froilan Castelo. Globe has actively lobbied for the reduction of the 25 permits needed to build cell sites with an approval period of at least 8 months. “Our commitment to the Duterte administration is to improve internet services in one year. We can do this if we have the full support of the LGUs and other government agencies in fast-tracking the permits in our roll-out," Castelo said.

Castelo clarified that the use of additional spectrum assets as a result of the company's buyout of 50% of SMC telco assets will greatly improve capacity issues for mobile internet users. However, the more sustainable solution would be to build more cell sites to increase not only capacity but also coverage. Efficiently utilizing spectrum and having high cell site density in the country are the necessary infrastructure support to propel the Philippines to first world internet experience.

Castelo also mentioned other issues such as social acceptability especially among homeowner's associations and political bickering among local government officials, also hamper telco providers from establishing the optimal telecommunication infrastructure needed to bring about good service experience.

At his inaugural speech, President Duterte committed to reduce bureaucratic red tape saying, “I direct all department secretaries and the heads of agencies to reduce requirements and the processing time of all applications, from the submission to the release. I order all department secretaries and heads of agencies to remove redundant requirements and compliance with one department or agency, shall be accepted as sufficient for all,” Duterte said.

As part of its network build, Globe is currently expanding its network coverage and capacity in various areas all over the country across all technologies, including 3G & LTE, for faster internet experience of its customers.

Flash Plus 2 3GB RAM With More Capacity to be Available in the Philippines Starting July 5 at 12NN!

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When Flash Plus 2 arrived on the scene, we got heads turning. But who’s ready for something that pushes the regular further forward than ever?

From Indonesia, to Malaysia, up to Thailand and east to the Philippines and Vietnam, the Flash Plus 2 has been making its incredible mark with features like the Fingerprint Scanner, high-quality audio capabilities and premium camera functions.

In keeping with the huge demand for the phone that’s sweeping the region, get ready for July 5 as Flash launch its 4th Flash Sale for all those who still haven’t had the chance to get their hands on this groundbreaking device. Its previous sales have sold out within 1 hour; with Indonesia selling over 1000 units within 30 seconds, so act now you so you don’t miss out on the phone everybody is talking about!

The Flash Plus 2 3GB will be offered during Lazada’s Best Brands Sale. Selling price is at Php 8,490. Both Luna Silver and Venus Gold will be available. 

For more information, please visit http://www.flash3c.com