AB Agosto and other Philippine delegates have traveled to Bangkok, Thailand to attend the FIABCCI Thailand conference alongside 2,000 other participants from more than 20 countries. FIABCCI is the global federation of real estate professionals.

Speakers and exhibitors from a variety of nations, including Cambodia, Malaysia, the USA, the UK, Nepal, India, Singapore, the Philippines, Brunei, and more, were present at the event, which took place on November 24 and 25. The discussion of real estate investment potential following the epidemic was centered on the issue of “Innovative cross-border real estate investment.”

“I was thrilled to take part in this amazing event once more, to discuss with our international colleagues some of the many great investment opportunities in the Philippines, and learn from one another how to deal with the post-pandemic resurgence,” said AB Agosto, the 2021 FIABCCI Fellow in Real Estate Management Awardee.

Consultant Agosto was among the individuals in real estate recently named Fellow in Real Estate Management by the Philippine chapter of the Paris-based International Real Estate Federation (FIABCI). The awardees were honored for their outstanding performance and contribution to the growth of the real estate industry.

“The honorees were conferred ‘Fellow in Real Estate Management, a distinction that will set them apart as models of the industry in their respective fields of specialization. And whose expert opinions will be much sought after and highly regarded even by their peers,” according to Dr. Eduardo G. Ong, a FIABCI-Ph Vice-Chairman.

The Cebu City Council opened the public hearing on the proposed adjustment of the real property market value schedule. The adjustment, according to the proponent, is intended to make a significant influence on revenue as well as the growth of Cebu City as a globally competitive and smart city.

Expert witnesses attend trials to provide specialist information to help the court make an informed decision. However, there are some difficulties that expert witnesses may face when presenting complex information to a court of law.

In accordance with Memorandum Circular No. 08-2020, the Supreme Court (SC) publishes the Guidelines for the Special Expropriation Courts for Public Roads (OCA Circular No. 12-2021). The Special Expropriation Courts for Public Roads and Regional Trial Courts (RTCs) with open expropriation cases must adopt the Guidelines, which only apply to the expropriation of assets impacted by national government infrastructure projects.

Appraisers expanding their practices into the area of arbitration can expect to play one of two roles: arbitrators or expert witnesses.

They are most often engaged in arbitrations addressing rent re-sets required by ground leases, large space leases and net leases on whole properties. They can be retained as valuation experts, or they can be retained as one of or the only (sole) arbitrator.

The following report from the Philippine Daily Inquirer will show the implementation of the law on expropriation and just compensation.

Prof. Augusto B. Agosto

Cebu City

Land is an important source of wealth for a nation. Everything that we use can be traced ultimately to land. In economics, land is one of the factors of production. Land serves also as a commodity, it can be bought or sold. Due to its value, there are different laws that ensure real estate transactions are properly performed and recorded. The land also can be passed on to family members through estate planning, or maybe owned by one or more people. In governance, the State and local government regulates the use and purpose of the land, it must be in accordance with the zoning and the construction will not damage the surrounding environment.

Continue reading “Notes on Real Property Laws in the Philippines”

On Capital Gains Tax, Documentary Stamp Tax, Estate Tax, Donor’s Tax, and how these taxes relate to land valuation

Capital gains tax is the ordinary tax if one is engaged in real estate, particularly in the transfer of title. In a nutshell, it is under the National Internal Revenue Code Provisions, Section 39, which deals with the Capital Gains from the Sale of Real Property. It states that notwithstanding, a final tax of six percent (6%) based on the gross selling price or current fair market value as determined under Section 6(E) of the Civil Code, whichever is higher, is at this moment imposed upon capital gains. This tax is presumed to be realized from the sale, exchange, or other disposition of real property in the Philippines, classified as capital assets, including pacto de retro sales and other forms of conditional sales, by individuals, including estates and trusts.

Continue reading “Notes on Real Property Taxation and Government Appraisal”

By: Augusto B. Agosto

State of the Nation Address or SONA is an annual event wherein the achievements, policies, and programs of the president are discussed. The last SONA is no different from the past. The President highlighted the campaign program on illegal drugs, and corruption and proposed a resolution by reinstating the death penalty.

President Duterte also highlighted the Manila Bay Rehabilitation, the creation of the Department of Water Resources, the tax reform package, the National Land Use Act, and the West Philippine Sea Dispute. Continue reading “On the 4th State of the Nation Address”