Finally! An intelligent talk show like this that can educate businessmen and entrepreneurs in the Philippines, OFW families, Filipinos who have migrated but (want to) invest in the Philippines or still have close family ties in the Philippines, and college students and young professionals in the Philippines. *Instead of mere chatter or rumors or speculations or politicking, a talk show that discusses real and concealed issues related to the economy of the Philippines which affect the day-to-day lives and the future of those who continue to live or invest in the Philippines or those who have close family ties in the Philippines.* 👏👏👏👏👏👏👏👏
Thank you that means a lot of me. I believe we need all the help we can get from people like David in the Philippines. The odds are stacked against most people here. The only way we can help is start by building the awareness.
Probably your best episode yet. David’s not afraid to…. “say the quiet part out loud “ , and this type of forum allows him a bit more breathing room to speak his mind, than those more buttoned-up networks. Find a way to have him back
I'm a fan of David Leechiu for a long time. Just surprised of how he sees the real estate situation in the Phil. Thanks a lot John for inviting David to be your guest and looking forward for your next podcast.
I really like that David mentioned about Maceda Law. This intends to protect the buyers and provide 50% refunds. But in reality, this is easier said than done. Developers like Megaworld, Ayala, etc... intentionally delay the process eventually discouraging the buyers from processing the refund. They have a team of lawyers who do that. This could take years and for a middle-income earner, you can't afford to pay atty fees for more than a year. I've met more than 10 buyers that are in this situation. Ph developers are just built differently with greed.
"are just built differently.." is too much of a stretch. I saw a documentary of other real estate developers that are much more greedy that Philippine developers. Ex. In China, you are force to move in your unfinished appartment.
Very informative and I appreciate the content. As a Canadian investor trying to consume more information about Philippines RE and commerce, his commentary on the Philippines condo market and his observations on North Am equity markets is accurate. I love RE but nothing beats the liquidity and growth of the sp500.
I currently have no properties. Sold it at the height of the USA market. It’s now all stocks and Cryptocurrencies. Crypto is like property assets but it has no red tape. It has no obstacles to get money. Crypto is instant liquidity and transactions. 24/7! Get rid of property and buy bitcoin and the top crypto.
man whatever Mr. Leechiu is reading, I want in. Thank you so much for this interview Mr. Dang. Can't get this info as concise and compact about what's happening in the PH that easily. No holding punches, this interview. Salamat ng marami!
@@eccentricccc global RE bubble appears to be the case. I observe this in North America (especially Canada’s top 3 cities), Portugal and parts of the USA. I do think though that some markets are more resilient and more liquid than others. Red states, in my view, may still offer long term appreciation.
Nope, it does not take a foreigner. It takes a flipper, which happens to be a foreigner. As much as I like the investment from outside the country, flippers also contributed to these jacked up prices. As an investor also, I have 50% sympathy, but at the same time, speculators are to blame why locals are forced to overpriced condos in the outskirts. So there goes the 50% non-sympathy
@BossBaby-p3l your comment confuses me generally. All im saying is this content is the first decent content about these matters, done in a manner in which i prefer, and that of course my questions are posed by someone that isnt filipino about philippine real estate, and economy. FIlipinos thus far, have not asked the questions i have been asking inside, and thus far have not answered them. They generally seem content with all the broken systems, or completely ignorant or submissive. And to be content, ignorant, or submissive with bad systems, to me is unacceptable, and should be realized, brought to light, and addressed in a valid, mature, solution finding manner. And no "flippers" are not the issue, its the developers, and the general greed that is a very philippine culturally omnipresent disease.
@ Dude, what the heck are you talking about? Are you holding a bag of investments you can not dispose of? Then, what does it have to do with Filipino characterization in general? If we're talking investments, then let's talk investments.
Even this video addresses the corruption getting in the way of growth. And the point of my initial comment was that ive been scouring the internet for property valuation in the philippines and its almost impossible. If you look for valuable information about real estate investment in the philippines, its almost impossible to find, until this guy who is a foreigner poses and addresses theses issues. What does my bag have to do with it nothing. Just let me thank the guy for saying things that have never been said about this particular landscape.
@ Well it helps you then it helps you. What does the Filipino people have to do with your thankfulnes? You describe our people are submissive etc etc, and when I respond to you, you don't acknowledge the faulty characterization you just made? Think ... You're the one complaining about the people with while having incomplete picture of the market, corruption and greed included.
@@rexcheung1129 I bought my first condo when I was in my 20s, that was roughly 20 years ago. So I guess I do have an idea, that this bubble thing will never pop. Ha!
I also do not think it will burst. if we are only talking about economic factors, i do not believe residential condo will go back to sub 100k/sqm price tag.
Great interview John! How about covering the causes and solutions to slums and poverty there? We all suspect it is corruption but there are underlying causes that your interview skills are good at uncovering.
Well it's only really an issue in Manila cause of overcrowding, plus lack of political will from the local councils who get votes from all the informal slum dwellers. Then progress is slow to remove them cause of human rights cry babies who stop demolishing. Plus there is no central governor of Manila just 17 councils responding without a unified . As development decentralises nationwide the slums will disappear as they return to their home provinces, virtually none of the slum dwellers are from Manila originally. They just need to create jobs in the provinces then it will be fine.
@@chrisk7118 I see you are optimistic like David said to be. I, on the other hand, am not optimistic that the "slums will disappear" eventually. They have been there for centuries and only continue to get bigger. One has to wonder if slum dwellers have become the "Untouchables" of a caste system that Filipinos refuse to acknowledge even exists and hence are will never fix.
Awesome episode John! We need more intelligent podcasts like this in the Philippines instead of those so called 'creators/vloggers' with senseless content.
Thank you for this very intelligent and insightful discussion on the economic and financial inner workings of our government and economy. Humble, intelligent, straight talking guest, perceptive with historical and political depth. Thank you for this podcast
Very good stuff. But the over building will cause a breakdown. With so much vs regular foreign investors, the average Pinoys can’t afford such. Worse, u can’t rent high once u buy a property so your ROI is minimal
Nonsense, these people work in the real estate industry so it's in their best interest to advertise that there will never be a bubble which is exactly one of the indicators that there is a bubble
This has been the most insightful interview I have seen so far about a whole slew of Philippine topics. You hit the nail on the head here. You have my sub, and my viewership. Please keep it coming!
Great show. Many points and opinions of difference between two likeable, smart, thinking guys - well hidden and kept under the rug - so the show kept on moving and chugging along nicely. But, Philippine stock market??? Peso to USD???
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
Well the name is 'Evelyn Infurna Services. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Property prices outside New Clark City are climbing due to the low base. Prices in Capas, Tarlac are only at P2k/sqm. So there will be certain areas that are still a buy
It would be interesting to see a similar video focusing on the car market, discussing the repos, increasing defaults, what makes Philippines special when it comes to this market and even how dealerships make most of their profit from financing and not sales :)
Back in 2014 I took a housing loan for 6.88%. Then in 2022, applied construction on the same rate since I have good credit record on the bank. Nowadays everything is so expensive, interest rates are high that people are barely making ends meet. I worry for the next generation.
23:20 I was actually in the Philippines from 1990 at age 26 and I can vouch for how difficult things were. I remember when land in Luzon just outside of Manila was like P5 per sqm when I first arrived. I was too young and naive to understand the opportunities for me as an American. As David alluded, I was having too much fun (the music of the 1980s). Obviously I did not suffer as much as you guys. It is instructive how strict the discipline of the Chinese-Filipinos. Actually even just normal Filipino families were much more strict on discipline in the early 1990s. Actually look back on the 1990s fondly. Also I want to add that I really do not agree with your Millennial generation attitude that expanding taxation and "transparency" is good. But that is because I much further along in my understanding that we simply need to cull the population. But you enjoy the Babylon enslavement you want to erect. You can copy the rise and fall of every civilization. At age 59, I am tired. You will understand when you are 59.
Valuations now don't make sense. Real estate tax (RPT) is so low in PH, land grabbers have all the incentive to keep holding. Arguably this bill will unlock land values. I just hoped that it included further reduction to income tax, and VAT.
People are realizing that the living conditions in Metro Manila Bubble is now worst from worse.. Why would you live in a decaying building situated in a congested, polluted environment?
First off, I don't think there's a bubble at all. The bubble, especially in the U.S. bursted because of derivatives, and that's not something that's happening here. I don't think it will happen. The central bank has a very tight reign on banks here to make sure that it is wading on waters where it is manageable. David is right in saying that we learned a lot in the past decades. Of course it's never gonna be smooth sailing. There's gonna be ups and downs no matter, but we'd be able to ride it better. The economic policy is very conservative in a global context, but this has enabled the country to be relatively stable, regardless. That matter has been the gripe for a lot of people here, but do we really want a steep growth spike but with a very volatile structure? It's gonna be chaos in the end. If the Philippines weren't conservative enough, we would have been hit big time with the GFC of 2008. We would have fallen off and teken years to recover. That was a bump on the road, not even a pothole, more like a speed hump. I also thought that a real-estate bubble was brewing, what with all the developments around the country. But the environment is totally different from the U.S.. Sure there's gonna be a hump somewhere, but it'll be a different kind of correction. There's enough organic safety nets for many people to weather through the crisis. It's simply a different situation that can't be compared to the U.S. or anywhere else.
I think the low yen will also encourage more exports from Japan. In the Philippines prices keep going up and don’t go down even if market valuations are down. I think the Logic of low income taxes in HK is to spur spending, the more income you have the more you spending so the government collects more Sales tax, they don’t punish people who save their hard earned money. The land value are so high in HK because the government control how much land they want to release into the market each year, they bid it out.
Alona Beach, Panglao is a prime tourist destination. However, the exact lack of infrastructure planning and investment by local goverment that you mentioned - no sewage, waste management or basic law enforcement (complete with a high rise hotel next to a recently built two floor townhouse). All this while businesses are all paying taxes each year to the municipality.
Very interesting talk, I was glued beginning to end. But I still feel properties in general here in the Philippines is way overpriced. And it all started in 1995 because of BGC.
Bitcoon is the best property is the one not bounded to a country, one that even skwaters can own a piece, the one that wont be seized by enemies or governments. If it can be taken away from you, then it's not your property.
80% default rate in condos today. that's Megaworld to blame and all its subsidiaries like suntrust and empire east. they are years behind their promised turn over dates.
I’m a RE investor in the US who’s wants to try his hand at the PI. Im trying to understand the things discussed and how I can apply those things. Could you do a video on where the opportunities are in land, commercial and residential? For example, in a previous post, people have stated it’s difficult/impossible to do seller finance. I’ve done multiple seller finance in the US and I want to document my first seller finance deal and/or make it mainstream/common.
@ yes, I’m aware. My parents are currently going through a few disputes. In past episodes, he’s mentioned PI needs to have safeguards like the first world markets. Maybe I wait then or maybe I could go through the long escrow process.
I recommend joining my discord community. There are plenty of great discussions about investing in the Philippines. Check my description. Oh and it’s free and I’m discussing with many other people there on various topics. The community is SOLID!!!
@@JohnDang808 just buy Bitcoin. Everything is declining in value relative to Bitcoin. This will not stop until Bitcoin is the new global reserve currency.
It was not clarified that the Maceda Law operates only on sales not yet taken out by the banks, the buyer was still paying directly to the developer. Once the bank has already taken over the account, there is no refund anymore.
1:15:40-1:15:52 “alternative financing… relative from abroad coming in to save them” As a duel citizenship, could I save the seller who is about to Default by essentially paying off the loan? If I remember correctly, to get a loan, seller has to put down 30-40% minimum. Seller wins because he walks away without Defaulting and I win because I’m paying minimum 60-70% of market value (pay off the loan). I’m a RE investor in the US looking for a way to get into the PI markets.
The only downsides of being a foreigner in philippines is bank won't permit any loan regardless your loan against your money. We have 70millions worth and we invested in philippine we live in interest which is decent but if your doing bussines thats nothing. Thats a bit hush in our experience. Were doing bussines in uk which is very easy to take loan❤
Hyper-speculation is the name of the game for Bitcoin. Unlike stocks, it's promoted as an Investment instrument that is not regulated - lots of manipulation, and organized promotion to pump up the value of something that has no tangible value. And it takes so much electricity - equal to the consumption of an entire country, just to keep it viable & running
He didn't started most of it but he's the only one with political will to push for the funding and completion of those projects, some projects took more than a decade to complete. Like Bicol International Airport the construction started in 2008 but was only completed on 2021 maybe if the pandemic didn't happen during his term more funds will be allocated for infra projects and more will be completed before his term ends remember some of the funds are diverted for covid. Most of the projects are not yet completed but he started the push for big infrastructure projects not just in major cities but also in the rural areas. Now the current Administration must continue to fund those projects but it looks like the Congressmen are pushing for their own pet projects not the priority infra projects.
@@Wafflelover344 just google them from reputable news sources coz there are alot of paid bloggers spewing false infos. Base your overall judgement from the govt agencies official pages too like NEDA which oversees continuous projects of the govt. Coz most of the time, these admins label these projects as their own like BBB or BBM but it's in fact a long term project and they claim them as their own when completed within their terms, credit grabbing at their finest. 😏
@@Wafflelover344 you may google them but be wary of paid bloggers spewing fake news. Just base your overall judgement from reputable sources and official govt agencies sites like NEDA which oversees continuous govt projects.
Same here., I strongly agree that the Bitcoin ETFs approval will be greatly life opportunity for us, with my current portfolio of $102,500 from my investments with my personal financial advisor Georgette Wong I totally agree with you😊
YES!!! That's exactly her name (Georgette Wong) so many people have recommended highly about her and am just starting with her from Brisbane Australia...🇦🇺
She's my family's personal Broker and also a personal Broker to many family's in the United states, she is licensed and a FINRA AGENT in the United States.
So the issue is a chicken vs egg. The developers overprice to begin with, the buyers default, developers eat the default, but then once condo is built they can sell it again at full price, which most of the philippine average earners still cant afford, and that is the standard occurence. how are they continuously building? Anyway, i have lands in the province in commercial areas, what if i wanted to build a small to moderate sized condo building, how would i be able to finance that without completely destroying my income and savings and having to collect a bunch of investors, and how would marcos' new tax bill affect that potential project?
Excellent interview. Thank you! Excellent guest and great conversation with intelligent, relevant and insightful questions! Subscribed! I would like to follow David Leechiu as well! How would I do that ?
This might sound like a bit of a "chicken and egg" dilemma sort of thing, but most Filipinos do not invest in the local stock market due to the 'perception' that the market is small, so much that a whale or a group of individuals can influence the price of a stock in their favor. However, the stock market is small because the local participation, especially from the middle to lower income groups is minimal, if compared to someplace like India, recently.
Watched the whole thing. Very interesting take but also very elitist POV. It is what it is but when he started talking about "Ayuda" you can really see the disconnect. The high-end, of course isn't the problem. The problem is affordability for the middle and lower classes. Remittances can only take you so far. When the lower to middle range prices are higher than where those remittances are made, how does that makes sense for anyone? At the end of the day, it's not the high-end that will carry the economy but the middle class. The more the middle can afford, the higher the high-end will be. Nice perspective overall.
The most important i learned from this is you cannot succeed in business as pessimistic. I also like Lee Kuan Yew’s, former prime minister of Singapore, hope about Philippines. Now Filipinos need to improve on getting rid of corruptions at all levels in the government and run the government as tight ship businesses like what Singapore is doing.
Mr leechiu leechiu is right the property right a lot of scammer in property they made different name out of ur land and sell it to other they connived with high military officer and sell ur land to other buyer or they sell u land already belong to other u will have a hard time in court because all of them connived w each other
Finally! An intelligent talk show like this that can educate businessmen and entrepreneurs in the Philippines, OFW families, Filipinos who have migrated but (want to) invest in the Philippines or still have close family ties in the Philippines, and college students and young professionals in the Philippines. *Instead of mere chatter or rumors or speculations or politicking, a talk show that discusses real and concealed issues related to the economy of the Philippines which affect the day-to-day lives and the future of those who continue to live or invest in the Philippines or those who have close family ties in the Philippines.* 👏👏👏👏👏👏👏👏
Thank you that means a lot of me. I believe we need all the help we can get from people like David in the Philippines. The odds are stacked against most people here. The only way we can help is start by building the awareness.
@@JohnDang808 I do not agree with the enthusiasm about repeating all the mistakes of the collapsing West.
Nothing I don't have any money here I wish they delivered here my home it's Christmas now please I'm suffering here. Thank you for your time god bless
Anonymous the West is not collapsing. The media lies to scare people and keep am audience
This is the best business interview I’ve seen in UA-cam. Most business interviews in UA-cam are junk.
Huh?😂
Probably your best episode yet.
David’s not afraid to…. “say the quiet part out loud “ , and this type of forum allows him a bit more breathing room to speak his mind, than those more buttoned-up networks.
Find a way to have him back
I'm a fan of David Leechiu for a long time. Just surprised of how he sees the real estate situation in the Phil. Thanks a lot John for inviting David to be your guest and looking forward for your next podcast.
I really like that David mentioned about Maceda Law. This intends to protect the buyers and provide 50% refunds. But in reality, this is easier said than done. Developers like Megaworld, Ayala, etc... intentionally delay the process eventually discouraging the buyers from processing the refund. They have a team of lawyers who do that. This could take years and for a middle-income earner, you can't afford to pay atty fees for more than a year. I've met more than 10 buyers that are in this situation. Ph developers are just built differently with greed.
"are just built differently.." is too much of a stretch.
I saw a documentary of other real estate developers that are much more greedy that Philippine developers.
Ex. In China, you are force to move in your unfinished appartment.
80 percent default rate is insane.
They clarified this figure: this default rate is only on pre-sold properties. Not the financed units.
Very informative and I appreciate the content. As a Canadian investor trying to consume more information about Philippines RE and commerce, his commentary on the Philippines condo market and his observations on North Am equity markets is accurate.
I love RE but nothing beats the liquidity and growth of the sp500.
Most successful investors have both stocks and property investments. My retirement income will be 45% rental income, 55% dividend portfolio
I currently have no properties. Sold it at the height of the USA market. It’s now all stocks and Cryptocurrencies. Crypto is like property assets but it has no red tape. It has no obstacles to get money. Crypto is instant liquidity and transactions. 24/7! Get rid of property and buy bitcoin and the top crypto.
didn't know how smart this guy is. Thanks for the content. Props to you Mr Leechiu
man whatever Mr. Leechiu is reading, I want in. Thank you so much for this interview Mr. Dang. Can't get this info as concise and compact about what's happening in the PH that easily. No holding punches, this interview. Salamat ng marami!
When you realize the real estate bubble has gone global... and real estate agents are becoming "FINANCIAL advisors. " The peak is near.
The crash is near.
@@eccentricccc global RE bubble appears to be the case. I observe this in North America (especially Canada’s top 3 cities), Portugal and parts of the USA.
I do think though that some markets are more resilient and more liquid than others. Red states, in my view, may still offer long term appreciation.
"what do i know, i dont know anything..." - i love it when very knowledgeable people say this ❤
This is awesome. Drop those F-BOMBS. Looking forward to more content like this. Fantastic conversation.
Invite him again on your podcast John! Many people like me, took a ton of insights from this man David Leechiu! Kudos!
Yo props this is dope. Philippines needs a hell of alot more of this. Ironically, it takes a foreigner, yet again to help filipinos out proper.
Nope, it does not take a foreigner. It takes a flipper, which happens to be a foreigner. As much as I like the investment from outside the country, flippers also contributed to these jacked up prices. As an investor also, I have 50% sympathy, but at the same time, speculators are to blame why locals are forced to overpriced condos in the outskirts. So there goes the 50% non-sympathy
@BossBaby-p3l your comment confuses me generally. All im saying is this content is the first decent content about these matters, done in a manner in which i prefer, and that of course my questions are posed by someone that isnt filipino about philippine real estate, and economy.
FIlipinos thus far, have not asked the questions i have been asking inside, and thus far have not answered them. They generally seem content with all the broken systems, or completely ignorant or submissive. And to be content, ignorant, or submissive with bad systems, to me is unacceptable, and should be realized, brought to light, and addressed in a valid, mature, solution finding manner.
And no "flippers" are not the issue, its the developers, and the general greed that is a very philippine culturally omnipresent disease.
@ Dude, what the heck are you talking about? Are you holding a bag of investments you can not dispose of? Then, what does
it have to do with Filipino characterization in general? If we're talking investments, then let's talk investments.
Even this video addresses the corruption getting in the way of growth. And the point of my initial comment was that ive been scouring the internet for property valuation in the philippines and its almost impossible. If you look for valuable information about real estate investment in the philippines, its almost impossible to find, until this guy who is a foreigner poses and addresses theses issues.
What does my bag have to do with it nothing. Just let me thank the guy for saying things that have never been said about this particular landscape.
@ Well it helps you then it helps you. What does the Filipino people have to do with your thankfulnes? You describe our people are submissive etc etc, and when I respond to you, you don't acknowledge the faulty characterization you just made? Think ... You're the one complaining about the people with while having incomplete picture of the market, corruption and greed included.
All bubbles eventually pop. They generally last much longer than most people think but they always burst.
Nope, a possible correction, yes, but it will never burst.
@@theVhin you have never been around that long hehehehe
@@rexcheung1129 I bought my first condo when I was in my 20s, that was roughly 20 years ago. So I guess I do have an idea, that this bubble thing will never pop. Ha!
I also do not think it will burst. if we are only talking about economic factors, i do not believe residential condo will go back to sub 100k/sqm price tag.
@@theVhin this is what people say before a bubble bursts! lol
If you want to be rich in the Philippines run for office.
This was an extremely informative discussion. Thank you David and John.
got youtube recommended, was not disappointed with the content
thank you David and John! Entertaining podcast!
Best podcast I’ve ever listened to on the local nuances of doing business in the Philippines.
Mahalo nui loa
Great interview John! How about covering the causes and solutions to slums and poverty there? We all suspect it is corruption but there are underlying causes that your interview skills are good at uncovering.
Well it's only really an issue in Manila cause of overcrowding, plus lack of political will from the local councils who get votes from all the informal slum dwellers. Then progress is slow to remove them cause of human rights cry babies who stop demolishing. Plus there is no central governor of Manila just 17 councils responding without a unified . As development decentralises nationwide the slums will disappear as they return to their home provinces, virtually none of the slum dwellers are from Manila originally. They just need to create jobs in the provinces then it will be fine.
@@chrisk7118 I see you are optimistic like David said to be. I, on the other hand, am not optimistic that the "slums will disappear" eventually. They have been there for centuries and only continue to get bigger. One has to wonder if slum dwellers have become the "Untouchables" of a caste system that Filipinos refuse to acknowledge even exists and hence are will never fix.
Awesome episode John! We need more intelligent podcasts like this in the Philippines instead of those so called 'creators/vloggers' with senseless content.
Cook the books!!! lol. Haven’t watched the whole podcast, but I’ll certainly watch it all! Thanks in advance!
Please make more of these kinds of long-form content. Salamat po!
The best episode thus far!
You got the king of price manipulation to do an interview with you. Thank you for sharing; I learned a lot.
I never knew about maceda law. This is really gold content. Hoping for more of these to come!
Thank you for this very intelligent and insightful discussion on the economic and financial inner workings of our government and economy. Humble, intelligent, straight talking guest, perceptive with historical and political depth.
Thank you for this podcast
High quality podcast. Awesome
Glad you enjoy it!
Very good stuff.
But the over building will cause a breakdown. With so much vs regular foreign investors, the average Pinoys can’t afford such. Worse, u can’t rent high once u buy a property so your ROI is minimal
You get more of this content and your subscribers will rise. Thank you for this.
Nonsense, these people work in the real estate industry so it's in their best interest to advertise that there will never be a bubble which is exactly one of the indicators that there is a bubble
there is nothing to advertise, what will happen will happen. That is his call and opinion. you wait and see when the bubble will burst.
Excellent reminder
This has been the most insightful interview I have seen so far about a whole slew of Philippine topics. You hit the nail on the head here. You have my sub, and my viewership. Please keep it coming!
Wow, thank you!
Interesting conversation. Thanks for sharing.
Thanks for listening
more content like this please, people needs to understand this
Wow Leechiu is actually very intelligent. I just saw his name sa mga billboards at mga office spaces.
Amazing info, thanks both of you.
Great show. Many points and opinions of difference between two likeable, smart, thinking guys - well hidden and kept under the rug - so the show kept on moving and chugging along nicely. But, Philippine stock market??? Peso to USD???
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
As a newbie, what do I need to do? How can I invest, on which platform? If you know, please share. I'm new to this, please how can I contact her?
Well the name is 'Evelyn Infurna Services. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
SHE’S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME.
I wonder where David, got the "80% default rates in the last 18 months" numbers
that is the default rate of preselling, which are supposed to be coming from developers. Units under mortgage apparently is only 3-4% defaulting.
Very well said...
i love this episode
The internet was a speculation back then. David Leechiu is missing out.
Property prices outside New Clark City are climbing due to the low base. Prices in Capas, Tarlac are only at P2k/sqm. So there will be certain areas that are still a buy
Dude you have the best freaking ph investment channel on UA-cam.
It would be interesting to see a similar video focusing on the car market, discussing the repos, increasing defaults, what makes Philippines special when it comes to this market and even how dealerships make most of their profit from financing and not sales :)
Best interview regarding PI real estate. Both are brilliant, but David is wrong about BTC, it will surpass 150K ;)
Self righteous but incompetent - very well said
Corruption will always choke a country 😬
Then exit, use Bitcoin and not pesos or any corrupt and onflatable currency.
Back in 2014 I took a housing loan for 6.88%. Then in 2022, applied construction on the same rate since I have good credit record on the bank.
Nowadays everything is so expensive, interest rates are high that people are barely making ends meet.
I worry for the next generation.
Very relatable.
Hey John, did you two stand the whole podcast? That's crazy haha thank you for this.
23:20 I was actually in the Philippines from 1990 at age 26 and I can vouch for how difficult things were. I remember when land in Luzon just outside of Manila was like P5 per sqm when I first arrived. I was too young and naive to understand the opportunities for me as an American. As David alluded, I was having too much fun (the music of the 1980s). Obviously I did not suffer as much as you guys. It is instructive how strict the discipline of the Chinese-Filipinos. Actually even just normal Filipino families were much more strict on discipline in the early 1990s.
Actually look back on the 1990s fondly. Also I want to add that I really do not agree with your Millennial generation attitude that expanding taxation and "transparency" is good. But that is because I much further along in my understanding that we simply need to cull the population. But you enjoy the Babylon enslavement you want to erect. You can copy the rise and fall of every civilization. At age 59, I am tired. You will understand when you are 59.
Great content and podcast!
Very informative!Keep this type of podcast going. You got me subbed into this. More power to your channel😊
Excellent discussion! Subscribed! More, please.
I was thinking what his opinion is of REIT
Great question I’ll ask him on the next one
Almost 2 hours not wasted. Eto dapat pinagaaralan di puro tiktok
Huh?😂
1:32:10 how does he calculate USD$1000 per year RPT on a USD$4m condo? He must mean PHP4million and $1000 a year?
Valuations now don't make sense. Real estate tax (RPT) is so low in PH, land grabbers have all the incentive to keep holding. Arguably this bill will unlock land values. I just hoped that it included further reduction to income tax, and VAT.
People are realizing that the living conditions in Metro Manila Bubble is now worst from worse.. Why would you live in a decaying building situated in a congested, polluted environment?
First off, I don't think there's a bubble at all. The bubble, especially in the U.S. bursted because of derivatives, and that's not something that's happening here. I don't think it will happen. The central bank has a very tight reign on banks here to make sure that it is wading on waters where it is manageable. David is right in saying that we learned a lot in the past decades. Of course it's never gonna be smooth sailing. There's gonna be ups and downs no matter, but we'd be able to ride it better. The economic policy is very conservative in a global context, but this has enabled the country to be relatively stable, regardless. That matter has been the gripe for a lot of people here, but do we really want a steep growth spike but with a very volatile structure? It's gonna be chaos in the end. If the Philippines weren't conservative enough, we would have been hit big time with the GFC of 2008. We would have fallen off and teken years to recover. That was a bump on the road, not even a pothole, more like a speed hump. I also thought that a real-estate bubble was brewing, what with all the developments around the country. But the environment is totally different from the U.S.. Sure there's gonna be a hump somewhere, but it'll be a different kind of correction. There's enough organic safety nets for many people to weather through the crisis. It's simply a different situation that can't be compared to the U.S. or anywhere else.
I think the low yen will also encourage more exports from Japan. In the Philippines prices keep going up and don’t go down even if market valuations are down. I think the Logic of low income taxes in HK is to spur spending, the more income you have the more you spending so the government collects more Sales tax, they don’t punish people who save their hard earned money. The land value are so high in HK because the government control how much land they want to release into the market each year, they bid it out.
Alona Beach, Panglao is a prime tourist destination. However, the exact lack of infrastructure planning and investment by local goverment that you mentioned - no sewage, waste management or basic law enforcement (complete with a high rise hotel next to a recently built two floor townhouse). All this while businesses are all paying taxes each year to the municipality.
Very interesting talk, I was glued beginning to end. But I still feel properties in general here in the Philippines is way overpriced. And it all started in 1995 because of BGC.
Bitcoon is the best property is the one not bounded to a country, one that even skwaters can own a piece, the one that wont be seized by enemies or governments.
If it can be taken away from you, then it's not your property.
Love watching and listning to the video bro. Pls do more vids like this😊😊😊
Inspirational, informative, excellent!
80% default rate in condos today. that's Megaworld to blame and all its subsidiaries like suntrust and empire east. they are years behind their promised turn over dates.
I’m a RE investor in the US who’s wants to try his hand at the PI. Im trying to understand the things discussed and how I can apply those things.
Could you do a video on where the opportunities are in land, commercial and residential?
For example, in a previous post, people have stated it’s difficult/impossible to do seller finance. I’ve done multiple seller finance in the US and I want to document my first seller finance deal and/or make it mainstream/common.
You should listen to the end up about property titles disappearing and being voided.
@ yes, I’m aware. My parents are currently going through a few disputes. In past episodes, he’s mentioned PI needs to have safeguards like the first world markets. Maybe I wait then or maybe I could go through the long escrow process.
I recommend joining my discord community. There are plenty of great discussions about investing in the Philippines. Check my description. Oh and it’s free and I’m discussing with many other people there on various topics. The community is SOLID!!!
@@JohnDang808 just buy Bitcoin. Everything is declining in value relative to Bitcoin. This will not stop until Bitcoin is the new global reserve currency.
It was not clarified that the Maceda Law operates only on sales not yet taken out by the banks, the buyer was still paying directly to the developer. Once the bank has already taken over the account, there is no refund anymore.
Great episode!!!
1:15:40-1:15:52 “alternative financing… relative from abroad coming in to save them”
As a duel citizenship, could I save the seller who is about to Default by essentially paying off the loan? If I remember correctly, to get a loan, seller has to put down 30-40% minimum.
Seller wins because he walks away without Defaulting and I win because I’m paying minimum 60-70% of market value (pay off the loan).
I’m a RE investor in the US looking for a way to get into the PI markets.
The only downsides of being a foreigner in philippines is bank won't permit any loan regardless your loan against your money. We have 70millions worth and we invested in philippine we live in interest which is decent but if your doing bussines thats nothing. Thats a bit hush in our experience. Were doing bussines in uk which is very easy to take loan❤
"One book for the wife," THAT'S FUNNY, BUT TRUE.. You both are talking too much sense for all of us to comprehend.
says the guy who’s business is real estate, got it
So basically, the real estate bubble won't burst because there are a few rich people who would keep buying. Great.
Politicians
Corrupt politicians need to park their ill-gotten wealth in physical assets like real estate using dummies.
Here in Dec 14, 2024.
It would be great to revisit this discussion post Marcos Jr. regime.
Hyper-speculation is the name of the game for Bitcoin. Unlike stocks, it's promoted as an Investment instrument that is not regulated - lots of manipulation, and organized promotion to pump up the value of something that has no tangible value. And it takes so much electricity - equal to the consumption of an entire country, just to keep it viable & running
Regarding the Duterte comment of completing the most projects. Just wanted to ask if someone can verify if he started said projects. Thanks
Not true. Most of that projects were started by the previous admins.
@@UOM2812 thanks guy. if you can provide a story or source would appreciate it further
He didn't started most of it but he's the only one with political will to push for the funding and completion of those projects, some projects took more than a decade to complete. Like Bicol International Airport the construction started in 2008 but was only completed on 2021 maybe if the pandemic didn't happen during his term more funds will be allocated for infra projects and more will be completed before his term ends remember some of the funds are diverted for covid. Most of the projects are not yet completed but he started the push for big infrastructure projects not just in major cities but also in the rural areas. Now the current Administration must continue to fund those projects but it looks like the Congressmen are pushing for their own pet projects not the priority infra projects.
@@Wafflelover344 just google them from reputable news sources coz there are alot of paid bloggers spewing false infos. Base your overall judgement from the govt agencies official pages too like NEDA which oversees continuous projects of the govt. Coz most of the time, these admins label these projects as their own like BBB or BBM but it's in fact a long term project and they claim them as their own when completed within their terms, credit grabbing at their finest. 😏
@@Wafflelover344 you may google them but be wary of paid bloggers spewing fake news. Just base your overall judgement from reputable sources and official govt agencies sites like NEDA which oversees continuous govt projects.
Is david wearing a garmin watch?
Wnen he said renting is best, that i believe 😊
david lee chiu is an icon!
new sub, this is very informative thank you!
I'm favoured financially with Bitcoin ETFs approval, Thank you buddy.$28,600 weekly profit regardless of how bad it gets on the economy.
Same here., I strongly agree that the Bitcoin ETFs approval will be greatly life opportunity for us, with my current portfolio of $102,500 from my investments with my personal financial advisor Georgette Wong I totally agree with you😊
YES!!! That's exactly her name (Georgette Wong) so many people have recommended highly about her and am just starting with her from Brisbane Australia...🇦🇺
She's my family's personal Broker and also a personal Broker to many family's in the United states, she is licensed and a FINRA AGENT in the United States.
The very first time we tried, we invested $1000 and after a week, we received 4500. That really helped us a lot to pay up our bills.
Georgette Wong has really set the standard for others to follow, we love her in Canada🇨🇦as she has been really helpful and changed lots of life's
3:45 fundamentally it's because the Philippine govt can not print the world's reserve currency, so they can get a margin call by economic contraction.
So the issue is a chicken vs egg. The developers overprice to begin with, the buyers default, developers eat the default, but then once condo is built they can sell it again at full price, which most of the philippine average earners still cant afford, and that is the standard occurence. how are they continuously building?
Anyway, i have lands in the province in commercial areas, what if i wanted to build a small to moderate sized condo building, how would i be able to finance that without completely destroying my income and savings and having to collect a bunch of investors, and how would marcos' new tax bill affect that potential project?
Pushing for PH stocks is suss but what do i know 😊
Excellent interview. Thank you! Excellent guest and great conversation with intelligent, relevant and insightful questions!
Subscribed!
I would like to follow David Leechiu as well! How would I do that ?
The law pertained to is the Ease of paying taxes (EOPT)
Wow... You just earn new subscriber
Now I think squatting will be a best choice. No property tax and protected by local government.
This might sound like a bit of a "chicken and egg" dilemma sort of thing, but most Filipinos do not invest in the local stock market due to the 'perception' that the market is small, so much that a whale or a group of individuals can influence the price of a stock in their favor. However, the stock market is small because the local participation, especially from the middle to lower income groups is minimal, if compared to someplace like India, recently.
pSe is bulok!!! Cant even short sell there
This content is for free? Thank John Dang!!!
Watched the whole thing. Very interesting take but also very elitist POV. It is what it is but when he started talking about "Ayuda" you can really see the disconnect.
The high-end, of course isn't the problem. The problem is affordability for the middle and lower classes. Remittances can only take you so far. When the lower to middle range prices are higher than where those remittances are made, how does that makes sense for anyone?
At the end of the day, it's not the high-end that will carry the economy but the middle class. The more the middle can afford, the higher the high-end will be.
Nice perspective overall.
When he said 30k rent is now given at 10k is kinda unreal but what do i know 😊
The most important i learned from this is you cannot succeed in business as pessimistic. I also like Lee Kuan Yew’s, former prime minister of Singapore, hope about Philippines. Now Filipinos need to improve on getting rid of corruptions at all levels in the government and run the government as tight ship businesses like what Singapore is doing.
John Dang about to get famous with this video
I feel a bubble is here. Will it burst? No. With POGOs gone, we will go back to our original source - OFWs.
So there is a bubble?
Mr leechiu leechiu is right the property right a lot of scammer in property they made different name out of ur land and sell it to other they connived with high military officer and sell ur land to other buyer or they sell u land already belong to other u will have a hard time in court because all of them connived w each other