dick mammoth Posted December 13, 2012 Posted December 13, 2012 I have noticed over the last couple of months there seems to be a glut of apartments to rent with more coming on stream all the time. A friend got a good deal two years ago in Woodcrest at 15000 peso a month , now you can get a studio for 12000 peso. My own place has four apartments, have always been rented ,now three are empty. Also seems to be more rooms to let signs around . my imagination ? 2 Link to comment Share on other sites More sharing options...
OnMyWay Posted December 13, 2012 Posted December 13, 2012 I have noticed over the last couple of months there seems to be a glut of apartments to rent with more coming on stream all the time. A friend got a good deal two years ago in Woodcrest at 15000 peso a month , now you can get a studio for 12000 peso. My own place has four apartments, have always been rented ,now three are empty. Also seems to be more rooms to let signs around . my imagination ? Sounds good to me! I hope you are right as I may be looking soon! :thumbsup: Link to comment Share on other sites More sharing options...
Brucewayne Posted December 13, 2012 Posted December 13, 2012 2 houses that rented for P8,000 5 years ago (just down the road from me) are now listed at P7,000 per month, but still no takers as they are build rather shoddily. Link to comment Share on other sites More sharing options...
Curley Posted December 13, 2012 Posted December 13, 2012 Perhaps with all the newbuilds people are going for new rather than older which is pushing the price of older stuff down? I hope there are plenty available, I'll be looking very soon. :thumbsup: 1 Link to comment Share on other sites More sharing options...
i am bob Posted December 14, 2012 Posted December 14, 2012 The way I understand it is that there are a fair number of houses that are available at the moment and are not selling. The newer ones coming on the market are thus being stripped of anything of value (going to a very base model) and being put up at reduced costs. Because of this, more people are starting to look at buying... And then the snowball effect takes over! Too many expensive rent options are available so they are dropping their price. Thus the medium options are dropping their prices and so on and so on and so on... Just 2 weeks ago I heard of a place in Cebu that should normally rent for over P15,000 that went for P12,000. The place I know in Lutopan that goes for P800? It's a 1 bedroom duplex with a solid firewall between units so there is no sound carrying through at all. The other side which is bigger and has 2 bedrooms has an asking price of P800 as well. That's about $17 a month for rent. Clean, no bugs, yard with garden and quiet. Hmmmm.... $800 a month budget? Hmmm.... 2 Link to comment Share on other sites More sharing options...
Curley Posted December 14, 2012 Posted December 14, 2012 What about short term (holiday) rentals on fully furnished apartments? Are they going down in price as well? Link to comment Share on other sites More sharing options...
Bigdog Posted December 15, 2012 Posted December 15, 2012 i just rented a 2 bedroom 1 cr house fully furnished for 15k/mth short term..plus electric and water of course. Rented the exact same model house last year and it was 20k/mth.. in fact only a couple lots down from this one...it was 1 month down and 1 month deposit , 30 k move in.. there are MANY more houses for rent/sale here in this subdivision than last year.. for aa short term rental 93 to 4 months ) i am happy with the price...it is on Mactan , babag dos , Ville Del Rio..stayed here last year for 4 months and was pleased with it 2 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted December 15, 2012 Posted December 15, 2012 I am not seeing evidence of rents coming down. I am seeing evidence of landlords who were gouging and now they are not able to find vicitms. Reason is I rented 4 places in 4 years just a little north of the downtown Cebu area and never paid more than 10K a month: 2008 1 room bachelor pad in a foreigner complex for 9K pesos a month including all utilities (got a bit small when gf moved in) 2008 3 bedroom 2cr house on the waterfront with a small yard for 10k pesos a month plus utilities (neighborhood got a bit loud) 2009 2 bedroom 3 cr house with a huge lot for the dogs to run for 8k a month plus utilities (shame they sold that or I would still be there) 2011 2 bedroom 2 cr 4 plex unit for 10k a month plus utiliteis (had to find something quick when the other house sold) Until now I live in the province: Huge modern 5 bedroom house with 4 cr and an acre of land for 5k pesos a month plus utilites (This is a fantastic find and you'd be lucky to get a similar deal but it is in the province where many would be bored spitless) So tell me again how rents are coming down in Cebu area? 3 Link to comment Share on other sites More sharing options...
cebu rocks Posted December 15, 2012 Posted December 15, 2012 The way I understand it is that there are a fair number of houses that are available at the moment and are not selling. The newer ones coming on the market are thus being stripped of anything of value (going to a very base model) and being put up at reduced costs. Because of this, more people are starting to look at buying... And then the snowball effect takes over! Too many expensive rent options are available so they are dropping their price. Thus the medium options are dropping their prices and so on and so on and so on... Just 2 weeks ago I heard of a place in Cebu that should normally rent for over P15,000 that went for P12,000. The place I know in Lutopan that goes for P800? It's a 1 bedroom duplex with a solid firewall between units so there is no sound carrying through at all. The other side which is bigger and has 2 bedrooms has an asking price of P800 as well. That's about $17 a month for rent. Clean, no bugs, yard with garden and quiet. Hmmmm.... $800 a month budget? Hmmm.... I can,t wait for you to go to Lutopan and see what you get for 800p lol No bugs yeah thats going to happen.. Quiet Bahahaha in the Phils.. Yard with garden could mean many things ? I,m guessing at that price no running water or Cr in the house and you would be lucky to have a locking door 1 Link to comment Share on other sites More sharing options...
i am bob Posted December 16, 2012 Posted December 16, 2012 The way I understand it is that there are a fair number of houses that are available at the moment and are not selling. The newer ones coming on the market are thus being stripped of anything of value (going to a very base model) and being put up at reduced costs. Because of this, more people are starting to look at buying... And then the snowball effect takes over! Too many expensive rent options are available so they are dropping their price. Thus the medium options are dropping their prices and so on and so on and so on... Just 2 weeks ago I heard of a place in Cebu that should normally rent for over P15,000 that went for P12,000. The place I know in Lutopan that goes for P800? It's a 1 bedroom duplex with a solid firewall between units so there is no sound carrying through at all. The other side which is bigger and has 2 bedrooms has an asking price of P800 as well. That's about $17 a month for rent. Clean, no bugs, yard with garden and quiet. Hmmmm.... $800 a month budget? Hmmm.... I can,t wait for you to go to Lutopan and see what you get for 800p lol No bugs yeah thats going to happen.. Quiet Bahahaha in the Phils.. Yard with garden could mean many things ? I,m guessing at that price no running water or Cr in the house and you would be lucky to have a locking door Always so negative! I have seen the place often on Messenger and through photos. The 1-bedroom is rented by my Special Someone's mother. Windows are (gasp) screened! That was done by a former tenant who was from the US originally. Running water in the kitchen and the Cr from a well on the property. Did I mention the electric water heater the American left for the CR? And the doors lock very well. Yard with garden means exactly that - there is a small seating area with flower and vegetable gardens in the back yard - fenced in too so that others won't steal all your flowers and veggies. Not to forget the 3 large shade trees that keep the house cool in the summer but still let sun into the back yard and gardens. I have only 2 minor complaints on the whole place - (1) it is a bit of a drive into Cebu if that is where you have to be every day; and (2) the walls could be refreshed a bit and painted again as the place is probably 50 years old or more. Both are just minor complaints. I almost forgot - since it is mostly older people living there, karaoke is pretty rare and ends early. Don't get me wrong - I'm not saying every place in the country is a bargain! To find a deal like this place is pretty rare (btw - the 2 bedroom is rented now) But if you just sit and laugh at people rather than looking for the best place for the money, don't complain when your place isn't as nice and for a lot more P. 2 Link to comment Share on other sites More sharing options...
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