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.
Continue reading “Defining the Appraiser’s Role in Arbitration”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”
One of the concise definitions of the real estate cycle is offered by The Royal Institution of Chartered Surveyors in its 1994 publication on Understanding the Property Cycle: ‘‘Property cycles are recurrent but irregular fluctuations in the rate of all-property total return, which are also apparent in many other indicators of property activity, but with varying leads and lags against the all-property cycle.’’(Pyhrr, Roulac and Born, 2010). Continue reading “Where is the Philippines in the real estate cycle?”
After my travel abroad, I have to get back on track in academic life. I have to catch up with the course I am handling, especially Microeconomics.
Discussing with the students the idea of “thinking like an economist” is, in principle, a good one. Mankiw, the author of the reference book, opens their eyes and helps them to think of the world, in terms of scarcity, trade-offs, opportunity cost, and efficiency. Simplifying things, and even economic visualization, of complex issues, helps them to understand the role of the economist in society. Continue reading “Contemplating on “Thinking like an economist””
The total value of residential condominium construction surged high to 252.6 percent in the first quarter of 2018, based on the data obtained from the Philippine Statistics Authority (PSA). Continue reading “PSA reports 252.6-percent increase in residential condo value”
Cordova is a third class quiet and serene municipality. One can aptly notice the coastal ambiance of this place. They are known for bakasi, kinhason and saang.
Recently, Cordova has been in the headlines of local newspapers. Some were quick in urging the investors in buying properties in anticipation of the Cordova-Cebu Bridge (as if the investors are just looking at the medium term in terms of land banking). Continue reading “On Cordova “boom””
When examining the real estate market, it is essential to have an understanding of the macroeconomic trends. The real estate industry is not self-contained. As a result, it is crucial for a real estate practitioner to understand the industry’s role, be aware of current affairs, and understand how macroeconomic factors influence the real estate market, including the overall supply and demand for properties as well as consumer expectations. Continue reading “Importance of macroeconomic analysis in real estate practice”
Real LexEcon 