In the early 1990s, the Philippine property market was booming. Developers were building. Capital was flowing. And dollar loans made everything look cheaper. Then something broke— not in the Philippines… but in Thailand. A currency peg failed. The Baht collapsed. Capital fled emerging markets. And in a matter of months, the Philippine peso followed. From Php 26 to Php 42 per US dollar. That was all it took. Because while revenues stayed in pesos… debt was in dollars. Suddenly

Everyone talks about real estate like it only goes up. History says otherwise. Japan was once the blueprint of economic dominance. Low interest rates, aggressive lending, and rising property prices created one of the biggest real estate bubbles in history. Then policy tightened. And everything unwound. Companies defaulted. Markets crashed. Property prices collapsed. Decades later, the story still isn’t over. Because while prime areas recovered… the broader market never fully

In case you missed it, Ayala Land Premier announced on April 17 that, in light of “challenging global conditions,” it is putting The Laurean Residences on hold. You can view the official statement here: https://www.ayalalandpremier.com/our-portfolio/laurean-residences/ For those unfamiliar, Laurean Residences is located on the site of the former parking building behind the BPI Head Office in Makati, along Dela Rosa Street. Why does this matter? There’s a simple shortcut peopl

Broker: Juan, I have a client who’s a lessor but not VAT-registered. If he sells the property, shouldn’t the sale be exempt from VAT? Juan: What kind of property? Broker: It’s a building with rooms being rented out. Juan: Then the sale can still be subject to VAT. See, VAT isn’t determined solely by your current registration status as “non-VAT registered.” It’s based on whether your transactions cause you to breach the VAT threshold. Since the property is used in business, it

Remember this story? My client had a simple fix for it. From Old Post: Once upon a time, a broker closed a deal and was tasked to transfer the title to the buyer’s name. The sellers were based abroad. Years prior, during a visit to the Philippines, they executed a Special Power of Attorney (SPA), authorizing a relative to sign on their behalf. Everything was complete. Documents were in order. Then came submission. The person in authority glanced at the SPA… paused… and said:

Decades ago, there was a small store that sold milk. At the time, nearly all milk came from a single importer sourcing from NZ. Most distributors bought from the same source and sold at similar prices. Except for one store. This shop sold milk significantly cheaper, often even below what others paid for it. Naturally, people bought from them. The big distributors noticed their sales dropping and complained: “Why are they getting better prices?” The answer: they weren’t. Every

Once upon a time, a unit was leased out under a standard contract—no pets allowed. Everything seemed normal at first. Until one day, the building admin reached out to the owner. There had been complaints from neighbors. A strong, unpleasant odor was coming from the unit. “Oh no,” the owner thought. When was the last time he heard from the tenant? Could something be wrong… or was he overthinking it? So he went to check. The moment the elevator doors opened, the smell was alrea

I was speaking with a broker who’s been in the industry since the mid-90s. He told me: “What we’re going through now feels worse than the Asian Financial Crisis.” That’s a strong statement. But is it actually true? Disclaimer: What I know about the Asian Financial Crisis (AFC) is secondhand—based on research, industry stories, and conversations with veterans. So if you lived through the AFC and see gaps here, feel free to jump in. What the AFC actually looked like + Office la

In banking, staff are required to operate out of a “backup office” for a week each year—a site located far from the main headquarters, designed to take over if something catastrophic happens. It’s part of Business Continuity Management. Most hated it—seeing it as wasted office space, idle equipment, and lost time. Preparing for a scenario that feels… unlikely. Until 2020. --- BCM exists for one purpose: to make sure the institution survives. --- Now bring that into real estat