Demand for residential property, particularly condominium units, has steadily increased in the Philippines. According to real estate research company Global Property Guide (GCG), the take-up of pre-sold condominium units in Metro Manila has reached 54,000 units last year, or more than the previous record-high of 52,600 units in 2017. Read the article…………………………
Philippines: Aligning the taxability of membership fees, association dues and the like
On Aug. 13, 2019, the Supreme Court (SC) in the case of Association of Non-Profit Clubs Inc. v. CIR (G.R. No. 228539) declared that membership fees, assessment dues, and fees of similar nature collected by recreational clubs, which are organized and operated exclusively for pleasure, recreation and other nonprofit purposes, are not necessarily subject to […]
Phlilppines: Government must ensure integrity of condos
A MOST practical assurance that a high-rise residential condominium is reasonably safe when hit by a killer earthquake is to make sure that the developer’s family members themselves reside on its top floor. But that is not always doable. The average condo buyer or tenant is unable to test the integrity of his unit since […]
Philippines: Condo Builder Blocks Other Internet Providers, Gets Hit With Anti-trust Case
One condo builder has been hit with an anti-trust suit for violating Philippine competition laws by refusing to allow any other ISP to service their tenants. A “statement of objections” was filed on March 27 against Urban Deca Homes Manila Condominium Corp and 8990 Holdings Inc for “abuse of dominance” by the Philippine Competition Commission. […]
SC orders to ‘take appropriate action’ on cases involving Delfin Lee
The Supreme Court has decided to take action on the plight of thousands of homeowners of subdivisions of Globe Asiatique Realty Holding Corp. (GA) in Pampanga caught in the middle of the legal battle between their developer Delfin Lee and the Home Development Mutual Fund (Pag-IBIG Fund). Read the article…………
Tenants of shuttered QC building want their stuff back
THE TENANTS of a condominium in Quezon City which was forcibly taken over by a realty company have gone to court to retrieve their belongings, as the building remained guarded and inaccessible. Armed men of Millgos Security Agency under the employ of Laverne Realty and Development Corp. seized Kaimo Building at 101 Quezon Ave. in […]
Condo association dues subject to VAT—BIR
Association dues paid by residents of condominiums are still subject to value added tax (VAT), noting that recent rules on the issue remain valid, according to the Bureau of Internal Revenue (BIR). Read more…….
Unit buyers cry fraud over New San Jose condo sale
On June 7, 2001, he made his first property investment in Metro Manila: a condominium unit he paid in full for P1.042 million. What he didn’t know at the time was that the developer he entered a contract with used the condominium building as part of a collateral for a P600-million loan it obtained from […]
Court steps into Makati condo builders’ dispute
A Makati City court has ordered a condominium developer to remove the barriers it put on a road that it co-owns with a neighboring project, weeks after tensions rose between their respective personnel and provoked gunshots at the work site. Read more……..
Homeowners assail annoying neighbor
Incessant barking of dogs, a mini poultry farm, and indiscriminate garbage disposal. These are but a few of the complaints of members of the Greenville Subdivision Homeowners Association (GSHA) in Barangay San Jose, this city, against whom they branded as an “annoying” neighbor renting the house owned by a villager. Read more…..