Cost of Housing

blueoakey Contributor

Member since 21 October 2011

blueoakeyContributor02 January 2012 21:57:52

165

as I have stated before I read Aust paper online daily
A report in smh.com.au this morning says average house prices in Sydney was $637,000AU of which average loan is $307,000 for compare * 42 to pesos so at current interest rate of 7% average home buyer is paying $21490 per year interest or $413AU per week
17357p per week INTERST ONLY, right so because of this the default rate had jumped by 22% so over 2000 per month in Sydney alone
so the point of my blog is to compare prices to here
In Naga one can buy bloody good home for 3mill pesos $71428AU
11% of average house in Sydney Aust.
Now a lot has been said about inflation in Phill on this forum
In the same article it states that in Aust. housing has risen by 107% in 10 years but wages have only risen by 57% in same time.
for the average Australian the cost of housing alone is reason enough to live in the Phillipines
Pete

markandjane Active member

Member since 06 December 2011

markandjaneActive member13 January 2012 17:17:57

I have to agree with you Pete...to get the same sort of house we are going to buy in Cavite, we would have to win the lotto to buy its equal in London....we know there are risks but, hey we are not those types who spend there days sat on the fence wondering and berating others with the courage to actually take there God given life by the horns and do something with it...Good luck to all

CharlesHarman Contributor

Member since 14 May 2010

CharlesHarmanContributor17 January 2012 05:25:04

157

You can build your own dream home in the Philippines for as low as $50,000 US Dollars or less. I built mine in 2004 for 85,000, but I went all out for luxury. Actually Wish I had just settled for a much leaner structure but I was new to the Philippines back then. That house has 12 foot high walls and chandeliers in every room. Trying to聽 sell it now for $65,000 but no buyers yet. Been up for sale for 2 years now. It is our desire to live near Cebu City possibly in the mountains above Cebu or in Mactan and in a modest small 3 bedroom or 4 bedroom home as I have three children and would like to have an office in one of the bedrooms.