Muntinlupa zonal values are out, and they're effective beginning January 27, 2024!
Here are highlights of the changes.
Ayala Alabang Village
+ Prior to the revision, zonal values for Ayala Alabang Village (2019) ranged between 80,000 and 150,000/sqm.
+ After the revision, prices now range between 100,000 to 180,000.
+ Lots along Mindanao Avenue (previously 120,000/sqm) were priced to be at par with lots along Acacia and Madrigal Avenues (180,000/sqm) in the 2024 revision.
+ With the revision, zonal values increased by approximately 20% to 50% between 2019 and 2024.
+ In compounded terms, AAV values grew between 4.0% to 9.33% annually.
Second Tier Villages
+ ZVs for Palms Point jumped from 100,000 to 150,000/sqm, growing by 50% (9.3% annually) from its last revision.
+ Alabang Hills and Alabang Hillsborough crept up from 50,000 to 65,000/sqm, increasing by 30% (5.9% annually).
Third Tier Villages
+ Villages found near the South Super Highway, namely Brazilia Heights and Lindenwood Residences, saw ZVs increase from 25,000 to 30,000/sqm, growing by 20% (4.0% annually).
Effects of ZV Revisions
+ ZVs are prices published by the Bureau of Internal Revenue that are used as the basis of taxes (i.e., capital gains tax, value added tax, doc. stamp tax).
+ The BIR derives them from their records and through a public hearing with market players.
+ In the past, ZVs were less relevant as they were considerably lower than market prices (hence the practice of undervaluation).
+ However, in the past decade, it's more common to see ZVs at par with market prices (sometimes higher for hot districts).
+ ZVs are used by market players as a "price anchor" in determining how much to price properties in selling or making an offer to purchase.
+ Since the BIR bases its taxes either on the selling price or the ZV (whichever is higher), selling below the ZV is seen to be tantamount to selling at a loss.
+ Thus, when ZVs are increased, asking prices naturally increase subsequently by sellers.
+ It usually takes six months to a year for buyers to determine whether to accept the new asking prices or not.
You may download the PDF file of the zonal values here: