Reports are out on the long-awaited GCash IPO. GCash is preparing what could become THE LARGEST IPO in PH history, with reports saying it may raise as much as P92 Bn. So what does this have to do with real estate (RE)? And why is this a horror story? Because in the world of investments, RE and the GCash IPO are competing for the same wallet. Years ago, fresh from the banking sector, I had a long argument with a colleague about RE as an investment. This was around 2015. Stocks

There is now a YouTube interview of an actual tenant who lived in the condo building affected by the recent fire last week. Search “Trapped sila sa NASUSUNOG na CONDO” on YouTube. I watched the video and read some related accounts. To be clear, many details are still alleged. But even before blame is assigned, there are lessons here for everyone. Based on reports, the incident likely started near the garbage chute area. Some suspect a discarded lithium-ion battery. If it was

Recently, a friend messaged me about listing a pre-selling lot he bought 2 years ago. His plans changed and now he wants to sell. I told him he realistically has 3 options: 1. Continue and treat it as a long-term hold This only makes sense if he can complete the purchase and is willing to wait MANY years. 2. Try to resell now at a loss A pre-selling resale has to compete with the developer’s own inventory. For his lot to sell, it would need a clear advantage: a meaningful dis

This is not for the faint-hearted. When people talk about the Metro Manila condo oversupply, one number keeps getting repeated: “Almost 8 years’ worth of inventory.” It sounds dramatic. But what does it actually mean? The math is surprisingly simple: 79,200 unsold Metro Manila condo units divided by 10,100 units sold in 2025 = 7.84 years Rounded off, that becomes roughly 8 years. In plain English, this means that if developers stopped adding new supply today, and if buyers co

Once upon a time, a sale transaction had just closed, and the buyer’s broker was tasked to handle the title transfer. During the BIR stage, the property was classified as an ordinary asset because it was used for business, which meant the sale was subject to VAT. But that wasn’t the horror story. The buyer’s broker raised the issue with the seller’s broker. No reply. She followed up again. Still no reply. Eventually, she found out why. The seller’s broker had passed away. ...

Not too long ago, one document could quietly make a property almost impossible to sell: the previous BIR Certificate Authorizing Registration (CAR). See, before June 2016, sellers were required to present the CAR from when they originally acquired the property. So if you bought a condo from a developer years earlier, you were expected to keep that CAR indefinitely. When you eventually sold the unit, the BIR will require you to present it as proof that the proper taxes had bee

Once upon a time, a broker had a client looking for a pre-selling condo unit. The broker spent weeks searching for options. He shortlisted multiple projects, coordinated showroom visits, compared layouts, discussed payment terms, analyzed locations, and patiently walked the client through the pros and cons of each property. Some projects were too expensive. Some had poor layouts. Others simply didn’t feel right for the client. After several viewings and follow-ups, the broker

Once upon a time, a broker (let's call him MB) was handling the sale of a condo unit. Like many listings in the PH, the listing was non-exclusive, so several brokers were marketing the unit. The keys remained with MB and he simply lent the keys to other brokers. MB handled the listing professionally. He advised the owner that the asking price was too high based on market feedback. He marketed the property in all platforms using gross pricing terms instead of “net to seller” p

Once upon a time, on a quiet December afternoon, just as the long holiday break was beginning, a broker received a call from a tenant. Foreign Tenant: “[Broker], the aircon in the second bedroom stopped working. The ones in the living room too. Three out of the four units are down. Please make sure this gets fixed as soon as possible. My son is arriving before Christmas.” Broker: (Already sensing the problem) “Yes sir. I’ll arrange it.” The broker immediately called their tru

Once upon a time, a broker leased out a condo unit. The process was smooth. Papers signed, unit turned over, everything in place. Then the call came. It was the building administration. They had flagged the tenant after finding online records linking him to estafa and fraud cases. Naturally, they were concerned. No building wants that kind of reputation inside its premises. The broker checked for himself. A quick search showed the same cases. So he confronted the tenant. The