Exciting Condo Projects to Look Forward in 2017

As Philippine real estate continues to flourish, developers all over the country are giving their best to provide the most unique real estate projects that match the evolving needs of Filipino homebuyers. For 2017, another batch of fresh and exciting properties will once again change the Philippine real estate landscape.

In Metro Manila, a couple of exciting developments will open this 2017. Taguig alone will welcome a vibrant mix of residential properties from top real estate companies. Megaworld, the real estate arm of business mogul Andrew Tan, will welcome the first residents of its Venice Luxury Residences and The Viceroy, both of which are in the developer’s mixed-use McKinley Hill township in Fort Bonifacio.

Venice Luxury Residences is a three-tower Italian-inspired high-rise condo development. Sitting right next to the Venetian Grand Canal Mall, it offers executive studios and one-, two-, and three-bedroom units, ranging in size from 39 to 120 sqm. The Viceroy, on the other hand, is a much more affordable option offering studios and one-bedroom apartments, and is geared towards young professionals. Also in McKinley Hill, this four-tower condo high-rise is expected to be turned over in the fourth quarter of 2017.

Avida Land, a subsidiary of property giant Ayala Land, will complete and turn over this 2017 its newest residential offering, the Avida Towers Verte at the corner of 9th Avenue and 34th Street in Bonifacio Global City (BGC). A variation of the Spanish word, “to see” Avida Towers Verte is carefully designed to maximize the optimum views of the greens and wide spaces of the northern section of BGC. Avida Towers Verte is slated for turnover in December 2017.

Also in BGC, Madison Park West of Federal Land will also open its doors to its first occupants come 2017. Located in Federal Land’s BGC development Veritown Fort, Madison Park West is a luxury condo that boasts very unique features, including some units with their very own wine cellars!

Six Senses Resort, also developed by Federal Land, is likewise set to welcome its first residents in 2017. Located along Macapagal Boulevard in the Bay Area in Pasay, residents of this condo project are also automatically members of the elite Club Metropark, the premier amenity deck of the development.

Further down south, a Megaworld township project will complete its residential component this 2017. Poised to be the Beverly Hills of the South, Alabang West is one of the much-awaited real estate developments in Las Piñas.

Even outside Metro Manila, new real estate projects are set to open come 2017. Cebu for one will welcome a new prime residential spot in the second quarter of 2017. The first building of the five-tower condo complex by Alveo Land will offer city resort living like no other. Located within Ayala Land’s 50-hectare Cebu Business Park in downtown Cebu City, Solinea the multi-tower development, all which share a central amenity area that resembles a resort in the middle of a bustling city.

Iloilo, on the other hand, will be greeted by a new residential building: Megaworld’s One Madison Place, scheduled for turnover this 2017. This three-tower cluster of 10-story condos follows a modern contemporary theme and will offer ultimate luxury to Iloilo residents. One Madison Place is located within the 72-hectare Iloilo Business Park, one of Megaworld’s integrated townships in Western Visayas.

Empire East, the affordable arm of Megaworld, also has a list of residential towers that are set to open next year: San Lorenzo Place at the corner of Chino Roces Avenue and EDSA in Makati, Pioneer Woodlands in Mandaluyong, Kasara Urban Resort Residences and the Rochester Garden in Pasig, Little Baguio Residences in San Juan, and Manhattan Garden City in Quezon City. These fresh additions in the affordable category will give more chances to Filipinos to finally get that first home investment.

Lamudi Launches Undergraduate Scholarship Program

Online real estate platform Lamudi Philippines (www.lamudi.com.ph) is committed to helping to drive socioeconomic development in the countries where it operates. This desire to contribute to community development led to the launch of a new scholarship program for undergraduate college students in the Philippines.

Experience Life in an International Enterprise

Students who will soon be in the job market are usually in need of two things: money and experience. Lamudi is encouraging bright, driven, and enthusiastic college undergraduates to enter a competition for a brand-new scholarship. Applicants should be over 18 years old, in their third or fourth year of their college studies, and have a consistent GPA of 1.75 or higher.

In particular, Lamudi is looking for those majoring in Business and Management, Economics, Marketing, Media and Communications, Information Technology and Computer Science, and Engineering. However, those with other majors may also apply. Those who have the most potential will be awarded with PHP 20,000 and a paid internship in any department at Lamudi’s local office in the Philippines. One student will be chosen for each semester for the 2016–2017 academic year.

To complete the application, the first step is to fill in an online form. Students must also submit scanned copies of their school IDs and transcript of records, a letter of intent, and a letter of recommendation from a relevant professor. Applicants must send application no later than December 16, 2016, and the results will be announced from December 23, 2016.

Demonstrating Enthusiasm and Strength of Character

In order to be successful, entrants must write a letter of intent (500 words in length). In the letter, applicants should showcase their talents and their potential. They should express what an internship at Lamudi would mean to them and explain how they would put the scholarship funds to good use.

Working in a tech company like Lamudi demands strength of character. Tenacity, positivity, and a determination to succeed are key. As an online property platform, Lamudi brings innovation and transparency to the real estate industry. Entrants who can show that they are capable of driving innovation in a team will be the most successful of all. If applicants can demonstrate ways in which they have overcome obstacles, this is sure to impress.

A Mutually Beneficial Initiative

Lamudi is keen to attracting new talent, and so this program is mutually beneficial; Lamudi stands the chance of gaining a talented recent graduate, and a student has the opportunity to impress a potential future employer. Who knows – this could be the start of a prosperous career!

For more information on this program, visit http://www.lamudi.com.ph/scholarship.

ABOUT 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 Latin America (Mexico, Colombia and Peru), Asia (Philippines, Bangladesh, Indonesia, Myanmar, Pakistan, Sri Lanka) and Middle East (Jordan, Qatar, Saudi Arabia, United Arab Emirates). Within fewer than three years, Lamudi has established its presence as a key online real estate marketplace in the countries where it is operating. For more information, visit Lamudi Philippines on Facebook, Twitter, Google+, LinkedIn, and Instagram.

ABOUT MYPROPERTY

Established in September 2010, MyProperty.ph is one of the leading Philippine real estate online and print brand 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. Both website and magazine also provide relevant and updated industry news and information for its clients and consumers. And with the release of its mobile version, finding or selling a home is made even easier. For more information, visit MyProperty on Facebook, Twitter, Google+, and Instagram.

Global Concern on the Rise in Online Rental Fraud

A collaborative approach needs to be taken by all stakeholders to counter this problem

Online rental fraud is now a rising concern for tenants and property investors all over the world. In England, the police recorded a 44 percent increase in scams reported with 3,200 unfortunate house hunters affected.

Indeed, this only represents a fraction of the total fraud numbers, as victims of fraud hold a certain stigma.

“Nobody wants to admit that they were fooled by an online fraud,” said Dr. Paul Hermann, cofounder and managing director of Lamudi—the global online property portal. “The property market going online made everything easier for everyone, and that includes fraudsters,” Hermann added.

A survey by YouGov—the international Internet-based market research firm—recorded more than 1 million cases of rental fraud in 2013 in England. And this is in a country where the real estate market has been online for more than 20 years. Companies like Rightmove, established in the early 21st century, have matured into public limited companies and have all but ironed out any fraud vulnerabilities.

Naturally, the problem is just as much of a concern in the emerging markets. Property renters and buyers operating overseas are the most common victims, because in most cases they cannot travel onsite to inspect the property. In certain situations, a con artist will gain access to the incoming mail account of an agent or homeowner through a phishing scam. In some unfortunate cases, a buyer will make a deposit, and the con artist will disappear leaving no trace.

So how does it work?

The initial step for the scammer is to complete a fake inquiry for an online listing. The inquiry template will have an outbound link that appears to send the advertiser back to their account but in reality, it will send the unsuspecting victim to a fake log-in prompt to retrieve information to phish. At this point, the scammer now has access to the advertiser’s email account and can intercept new emails. To cover their tracks, the con artist will delete the original email and reply from a new email account. Each scam will involve three victims: the phished advertiser, the second advertiser who acts as a pawn, and, of course, the potential renter or buyer.

How can you mitigate the threat of fraud?

However, it is not all bad news for online home-hunters. New online sites like Lamudi have the latest anti-phishing software making their website and email accounts impenetrable. Moreover, they only allow vetted and verified agents and owners to list on their classified website.

“Building trust is a core pillar on which we built our property platform business,” said Hermann. “Realizing that fraud is a real issue, we ensured that our website has the latest anti-fraud technology and Rocket Internet, our parent company, provided the capital investment for us to get the best technology in the business,” Hermann added.

“A lot of companies see this self-defense expenditure as a cost they are unwilling to incur,” Hermann noted. “For us, it was point one on our priority list, and our international property investors have responded favorably to the enhanced security we can offer them,” said Hermann.

Nevertheless, the responsibility not only lies with online real estate platforms to counteract this fraud threat, but on financial institutions also who in some cases allow new users to create bank accounts online without due diligence. This potentially opens up a window of opportunity for cyber criminals. In Germany, for example, where Lamudi is based, it is next to impossible to open up a bank account without proof of residence and identification.

What is clear is that a collaborative approach needs to be taken by all stakeholders to counter the problem, and that includes the education of end users on how to safely use online property sites.

ABOUT 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 Latin America (Mexico, Colombia and Peru), Asia (Philippines, Bangladesh, Indonesia, Myanmar, Pakistan, Sri Lanka) and Middle East (Jordan, Qatar, Saudi Arabia, United Arab Emirates). Within fewer than three years, Lamudi has established its presence as a key online real estate marketplace in the countries where it is operating. For more information, visit Lamudi Philippines on Facebook, Twitter, Google+, LinkedIn, and Instagram.

ABOUT MYPROPERTY

Established in September 2010, MyProperty.ph is one of the leading Philippine real estate online and print brand 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. Both website and magazine also provide relevant and updated industry news and information for its clients and consumers. And with the release of its mobile version, finding or selling a home is made even easier. For more information, visit MyProperty on Facebook, Twitter, Google+, and Instagram.

Myproperty.ph explains what is a prenuptial agreement and why couples about to get married should have one

 

Many couples who are into their nth year (even month) of being together decide to get married because they feel, in all aspects, that they’re ready for the responsibility. Mentally, they believe it’s the most logical next step once they’ve reached a certain point in their relationship. Emotionally, they think they’re mature enough to have kids. And then there’s the I’m-not-getting-any-younger physical aspect. But if all you’ve done in the financial aspect is get stable jobs and save enough money to live off of, you might also want to consider getting a prenuptial agreement.

To most Filipinos, nothing puts a damper on the romantic idea of marriage like a prenuptial agreement. Because it’s a legal contract of how assets will be divided between husband and wife in the event of a separation, they think it’s like anticipating that the union will eventually end, which then kills the romance. But the reality is, money is one of the biggest issues that put a strain on a marriage, which is what makes a prenup even more essential.

So, who needs a prenuptial agreement?

Just because you’re not a high-profile couple that owns a home in Forbes Park and the United States doesn’t mean you don’t qualify for a prenup. The following are examples of when a prenuptial agreement makes sense:
In the event that you have a large amount of assets, such as an inheritance, it would be understandable that you’d want to continue to manage it on your own.
If there is a property that you own with another party, that other person might feel uncomfortable with the arrival of your spouse as a co-owner.
If you’ve been married before and the union resulted in children, you’d want to assure them that they’ll receive their rightful inheritance if you were able to acquire a property from that previous marriage.
Not all countries have the same laws about real estate ownership and disposition. With a prenup, you and your foreign-national spouse will be able to define the ownership of properties that are located abroad.

The three regimes of property relations

Under the Family Code of the Philippines, there are three regimes that will govern property relations between husband and wife: the system of absolute community (considered to be the default property regime), the conjugal partnership of gains, and the complete separation of property. On the other hand, couples married prior to the 1988 enactment of the Family Code follow the New Civil Code, which cites the conjugal partnership of gains as the governing system for property relations.

If you and your future spouse choose not to pursue a prenuptial agreement, what applies is the system of absolute community. This is a what-is-yours-is-mine scenario, wherein the husband and wife will co-own all of the properties they each bring into the marriage, as well as whatever they acquire in the duration of their marriage.

Still, there are some properties considered to be excluded from absolute community; namely, properties acquired during the marriage by gratuitous title, as well as its income, if any; property for personal and exclusive use of either spouse (although jewelry is still part of community property); and property (and income if any) acquired before the marriage by either spouse whose past marriage has resulted in legitimate children. Also, before attempting to transfer or sell any property, both the husband and wife should consent to the disposal.

If you do choose to go through with a prenup, one option would be the conjugal partnership of gains, in which properties acquired by the husband and wife before the marriage will be exclusively his or hers, but all of the all of the proceeds, products, fruits, and income from these properties and those acquired by either or both spouses through efforts or by chance are put into one common fund and considered jointly owned. Should the husband and wife part ways, this jointly owned fund will be split equally between them.

Under the conjugal partnership of gains, the husband or wife can also dispose of their exclusive property in any way without the consent of their spouse.

Another option, complete separation of property, means all assets will remain separate throughout the marriage and in the event of a separation. This doesn’t just mean the actual properties; all earnings from these properties will be separate, too.

Also, if the husband or wife wants to dispose of their exclusive property in any way under the complete separation of property, they can do so without the consent of their spouse.

Remember that a prenup should be executed before marriage, as agreements and changes made after the ceremony (except in cases of judicial separation of property during the marriage) are considered invalid. If the husband and wife would like to change their property relations, they will have to do so by filing a petition in court.

Creating and filing a prenuptial agreement

There’s no strict format for drawing up a prenuptial agreement, but because it is a legal contract, it has to be in written form, as verbal contracts are not considered binding. It has to clearly state all of the conditions that the husband and wife have in relation to their assets. At the very least, it should contain:
A heading stating that the document is a prenuptial agreement
The full names of the husband and wife
The date when the document was written and signed, which should be before the wedding
A clause stating that both parties were willing participants to the prenuptial agreement and that they understood its contents
A full disclosure agreement
A severability clause
An arbitration or mediation clause
The assets to be included in the contract
The division of assets once the couple is married
How debts incurred by the husband or wife will be handled
How assets will be divided in the event of a separation (either through conjugal partnership of gains or the complete separation of property), as well as other particular conditions
Actions to be taken in situations such as the death of the husband or wife, or if either party has a child born out of wedlock

The document is then brought before a Notary Public for notarization and submitted, along with the necessary documents, to the Civil Registry of the city or municipality that issued the marriage license. Once the document has been reviewed and approved and the required fees have been paid, the contract will be registered and a certified true copy to be attached to the marriage certificate will be supplied.

Sources: chanrobles.com, jlp-law.com, news.abs-cbn.com, lifestyle.inquirer.net, domingo-law.com

ABOUT MYPROPERTY.PH

Established in September 2010, MyProperty.ph is a leading Philippine real estate online and print brand 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. Both website and magazine also provide relevant and updated industry news and information for its clients and consumer
*This is Press Release