Monday, March 12, 2012

Samal Lots For sale to high?

I have been looking at land prices in Samal at first glance i said yeah it should be high, the beach is right there. then i looked closer and saw that the roads or terrible, part of the island floods, habal habal (taxi) guys are very crooked and unregulated. NPA rebels are across the island (and yes they have attacked samal in the past). You can't legally own the land your self if your not filipino. People stare at you a lot which is somewhat scary. I even heard of a case where a guy bought a land, beach front but could not get the squatter people off his land, they went to court the judge gave the land to the squatters, but when i look online at properties in davao area, Samal land owners are asking lots of money. I started asking why? Is this is a bubble market, a bunch of people buying the land for investment hoping to sale it later for more money (this is what happen in US that cause markets to go down around the whole world). One reason i think this is look at Ocean-view or Playa no one is building anything yet, the one house at Ocean-view has been for sale for years, so here is my questions why are these land owner asking so much? The next question is are they even selling for the asking price? why are the prices still so high if there not selling? is it the investor who is buying the lots for investment who is driving the price up?