Whats New In Philippine Real Estate
Weekly Philippine Real Estate News Updates Every Weekend
On this Whats New page we make updates every week regarding the Philippine economy and real estate market, along with the Philippine Peso, Philippine interest rates, and new developments concerning the Philippine economy and real estate industry to help you as a buyer or seller make more informed investment decisions regarding your Philippine real estate investments.
March 02, 2013 - Philippine Bonds Rally on Speculation of Further Monetary Easing - Review Article Below
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Philippine Economic Headlines from the Philippine Central Bank / Bangko Sentral ng Pilipinas
Bank Lending Sustains Growth in January 02.28.2013
Domestic Liquidity Continues to Expand in January 02.28.2013
The BSP Supports the Conduct of the 2012 Census of Philippine Business and Industry (CPBI) 02.26.2013
Business Confidence Remains Buoyant in Q1 2013; Outlook Turns More Bullish for the Next Quarter 02.22.2013
U/KBs Remain Adequately Capitalized 02.20.2013
BSP Launches Book on Special Banking Laws Annotated 02.18.2013
Philippine Central Bank Key Interest Rate at 3.50%
December 13, 2012 - The Monetary Board decided to maintain the BSP's key policy interest rates at 3.50 percent for the overnight borrowing or reverse repurchase (RRP) facility and 5.50 percent for the overnight lending or repurchase (RP) facility. The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also maintained accordingly. The reserve requirement ratios were kept steady as well.
March 02, 2013 - Philippine Bonds Rally on Speculation of Further Monetary Easing - Review Article Below by Bloomberg
Philippine government bonds rose, with the four-year yield dropping to a record low, on speculation monetary conditions will be eased further after the central bank said it expects inflation to remain contained.
Price gains this year and next will be in the lower half of Bangko Sentral ng Pilipinas's 3 percent to 5 percent target range, Governor Amando Tetangco said Feb. 26, citing the authority's latest forecast. The central bank cut the rate it pays on $44 billion in special deposit accounts to 3 percent from more than 3.5 percent in January. There is room to further refine the SDA to keep it as a liquidity management tool and not an investment outlet, Tetangco said on Feb. 15.
"They're comfortable with inflation and that gives them the scope to keep on easing," said Joric Nazario, treasurer at Philippine Veterans Bank in Manila. "The sense the market is getting is that the central bank will further reduce the SDA rate, or limit access to the facility. With expectations of more funds in the system, investors are looking for outlets."
The yield on the 6.25 percent peso bond due November 2016 fell seven basis points, or 0.07 percentage point, to 3.27 percent, according to midday fixing prices at Philippine Dealing & Exchange Corp. That's the lowest for a four-year benchmark bond since Bloomberg started compiling the data in May 2002.
The central bank will consider more prudential measures as appropriate and "further refine our conduct of monetary operations," Tetangco said in a mobile-phone message this week.
Liquidity, Peso
On March 3, 76.44 billion pesos ($1.9 billion) of six-year government bonds will mature, data compiled by Bloomberg show, adding liquidity into the system.
The peso fell 0.1 percent today and closed little changed this week at 40.688 per dollar from 40.685 on Feb. 22, according to Tullett Prebon Plc. One-month implied volatility, a measure of expected moves in the exchange rate used to price options, was unchanged at 3.9 percent.
The peso is the best-performing Asian and emerging-market currency in the past 12 months. Net inflows into the nation's stocks and bonds reached $1.3 billion in January or almost six times the $213 million level in December, the central bank reported on Feb. 14.
February inflation quickened to 3.3 percent, according to the median estimate of economists in a Bloomberg News survey before the March 5 report. That would be a five-month high. Bangko Sentral will review monetary policy on March 14.
The central bank cut the benchmark overnight borrowing rate to a record low of 3.5 percent in October and held it at that level at its December and January meetings.
December 08, 2012 - Philippine 2013 Forecasted Economic Growth 5% to 6% Plus
The Philippines 2012 third quarter GDP gross domestic product came in a at surprising 7.1% with finanical analysts forecasting a 5.3% GDP rate. With the still growing wall of foreign investment capital inflows, very strong Philippine economy, low inflation rate, growing BPO business processing outsourcing sector, strong domestic consumption, increased credit rating, much less corruption, and many other positive economics, we forecast continued strong growth and rising Philippine real estate, stock, and investment asset prices increasing long-term.
Good Philippine Real Estate Tax News
BIR: Increased Threshold for VAT Exemption
The BIR has released Revenue Regulations (RR) No. 16-2011 dated October 27, 2011 which increased the threshold amounts for VAT on the sale of residential lots and house and lots, the lease of residential units, and the threshold amount for the sale of goods and services subject to VAT.
Effective January 1, 2012, the sale of a residential lot which is PHP1,919,500.00 and below (Current - PHP1,500,000 and below), and the sale of a residential house and lot which is PHP3,199,200.00 and below (Current - PHP2,500,000) are exempt from VAT.
The lease of a residential units which is PHP12,800 and below (Current PHP10,000) shall also be exempt from VAT effective January 1, 2012.
If a person's gross annual receipts/sales on the sale or lease of goods or properties or performance of services other than those mentioned in Sec. 109 of the Tax Code does not exceed PHP1,919,500.00, (Current - PHP1,500,000) he shall be subject to 3% percentage tax instead of the 12% VAT.
