Residential real estate prices rose by 4.8 percent year-on-year (YoY) in 2nd Quarter of 2018 as the Residential Real Estate Price Index (RREPI) increased to 117.2 from 111.8 for the same quarter a year ago. The prices of townhouses, condominium units, and single detached housing units grew YoY by 13.3 percent, 9.1 percent and 0.8 percent, respectively. Meanwhile, prices of duplex units (which account for only 0.36 percent of total new housing units reported) has declined by 4.4 percent YoY. Quarter-on-quarter, the RREPI edged higher by 0.8 percent. The RREPI measures the average change in prices of various types of housing units comprising of single detached house, duplex, townhouse, and condominium unit based on data from housing loans granted by universal, commercial, and thrift banks.
The average residential property prices in both National Capital Region (NCR) and Areas Outside NCR (AONCR) has climbed by 5.1 percent and 4.1 percent compared to year-ago prices, respectively. In NCR, the growth in prices of condominium units and townhouses outweighed the decline in prices of single detached houses and duplexes. Meanwhile, all types of housing units in AONCR registered price increases.
For Q2 2018, about seven in ten (77.1 percent) residential real estate loans (RRELs) were for the acquisition of new housing units. By type of housing unit, 46.1 percent of residential property loans were for the purchase of condominium units, followed by single detached units (45.6 percent) and townhouses (7.8 percent). By area, majority of the RRELs granted in the NCR were for the purchase of condominium units, while RRELs granted in AONCR were for single detached houses. By region, NCR accounted for 45.2 percent of the total number of RRELs granted during the quarter, followed by AONCR - CALABARZON (27.9 percent), Central Luzon (6.9 percent), Central Visayas (5.9 percent), Western Visayas (5 percent), Davao Region (3.5 percent) and Northern Mindanao (1.7 percent). Together, the NCR and the six other regions accounted for 96.1 percent of total housing loans granted by banks.
Friday, September 28, 2018
Thursday, September 27, 2018
Monetary Board Increased Policy Interest Rate by 50 Basis Points
Today, the Monetary Board on its monetary policy meeting has decided to raise the interest rate on the BSP’s overnight reverse repurchase (RRP) facility by 50 basis points to 4.5 percent, effective tomorrow September 28, 2018. The interest rates on the overnight lending and deposit facilities were raised accordingly.
The Monetary Board recognized that a further tightening of monetary policy was warranted by persistent signs of sustained and broadening price pressures. Latest baseline forecasts have shifted higher for both 2018 and 2019, with risks to the outlook still leaning toward the upside. With supply-side forces expected to continue to drive inflation in the coming months, inflation expectations have remained elevated amid indications of second-round effects. Meanwhile, domestic demand conditions have generally held firm, even as the previous monetary policy responses continue to work their way through the economy.
The Monetary Board, therefore, decided to raise the BSP policy interest rate anew to further anchor inflation expectations and to safeguard the inflation target over the policy horizon. The Monetary Board believed that a tighter monetary policy stance will help steer inflation toward a target-consistent path over the medium term by reducing further risks to the inflation outlook, including those emanating from exchange rate volatility given the continued uncertainty in the external environment amid geopolitical tensions and the normalization of monetary policy in advanced economies.
At the same time, the Monetary Board emphasized the need for timely and appropriate non-monetary measures that will further mitigate the impact of supply-side factors on inflation.
The BSP reassures the public of its strong commitment to take all necessary policy actions to address the threat of high inflation and deliver on its primary mandate of price stability.
The Monetary Board recognized that a further tightening of monetary policy was warranted by persistent signs of sustained and broadening price pressures. Latest baseline forecasts have shifted higher for both 2018 and 2019, with risks to the outlook still leaning toward the upside. With supply-side forces expected to continue to drive inflation in the coming months, inflation expectations have remained elevated amid indications of second-round effects. Meanwhile, domestic demand conditions have generally held firm, even as the previous monetary policy responses continue to work their way through the economy.
The Monetary Board, therefore, decided to raise the BSP policy interest rate anew to further anchor inflation expectations and to safeguard the inflation target over the policy horizon. The Monetary Board believed that a tighter monetary policy stance will help steer inflation toward a target-consistent path over the medium term by reducing further risks to the inflation outlook, including those emanating from exchange rate volatility given the continued uncertainty in the external environment amid geopolitical tensions and the normalization of monetary policy in advanced economies.
At the same time, the Monetary Board emphasized the need for timely and appropriate non-monetary measures that will further mitigate the impact of supply-side factors on inflation.
The BSP reassures the public of its strong commitment to take all necessary policy actions to address the threat of high inflation and deliver on its primary mandate of price stability.
Wednesday, September 26, 2018
Nutriment Workshop: Diet Beats Diabetes (Ketogenic Plant Based Diet)
Holistic Integrative Care Center (HICC) is inviting everyone on their upcoming workshop this coming September 29,2018, 10:00-3:00pm featuring: KETOGENIC PLANT BASED DIET for 1.500 Pesos only. This will help people with Diabetes to reverse the effects of their illness with the use of Ketogenic Plant Based Diet.
INCLUSIVES:
FREE lunch
FREE manuals
FREE aprons
FREE take-home samplers
Onsite Kitchen utensils and ingredients
Hands-on workshop
For more details and reservations, you can contact them at the following numbers:
Ms Nez at 0915-8138204 or 0912-6006118
HICC hotlines: (02)744-5355
INCLUSIVES:
FREE lunch
FREE manuals
FREE aprons
FREE take-home samplers
Onsite Kitchen utensils and ingredients
Hands-on workshop
For more details and reservations, you can contact them at the following numbers:
Ms Nez at 0915-8138204 or 0912-6006118
HICC hotlines: (02)744-5355
Wednesday, September 12, 2018
The Philippine Tourism Department Awards Green Hotels and Resorts
The Department of Tourism (DOT), in partnership with Center for Appropriate Technology, a Austria-based research and development organization, has identified 27 hotels and resorts as awardees for this year's ANAHAW Philippine Sustainable Tourism Certification.
ANAHAW is the Philippine Sustainable Tourism Certification that was developed by the DOT and GRaT Center for Appropriate Technology through the Zero Carbon Resorts (ZCR) Project funded by the European Union (EU) under the Switch Asia Program. ZCR aims to reduce the carbon emission of hotels & resorts following the 3R principles - Reduce, Replace and Redesign. This project was started by the DOT's Office of Tourism Standards and Regulation in 2011 with a series of trainings and seminars on green technologies and focus group discussions with industry stakeholders.
Tourism Chief Bernadette Romulo-Puyat has recently challenged industry stakeholders to practice sustainable tourism and demanded for long-term adherence to responsible production and consumption of resources.
"In the DOT, we see the need to inspire, collaborate, educate and habitualize our efforts on this advocacy, no matter how daunting. By inspiring, we engage consumers to embrace the role as responsible tourists. By collaborating, we enjoin experts, partners and volunteers to advance our advocacy. By educating, we help people become informed about our sustainable tourism and by habitualizing, we create doable ways for consumers to get into the habit of practicing sustainable tourism," said DOT Undersecretary for Tourism Regulation, Coordination and Resource Generation Arturo Boncato, Jr. as he represented Puyat in the opening ceremonies.
Undersecretary Boncato likewise stressed the importance of focusing on the best interests of the environment, tourists, industry stakeholders, and host communities, and also the possible environmental, social, and economic impacts, in generating projects directed towards genuine sustainable tourism, which involves collective efforts.
Meanwhile, Enrico Strampelli, head of the Development Cooperation Delegation of the EU to the Philippines emphasized the role of the ANAHAW in improving overall efficiency of tourism establishments such that not only does the certification ignite profit increase, it also directs the Philippine tourism industry into a more sustainable future.
Hotels and resorts are equipped with best practices and techniques for sustainable development and ecotourism that will largely contribute to the country's green economy and will lead to a highly competitive, environmentally sound and socially responsible Philippines - as is the mandate of the DOT for the National Tourism Development Plan 2016-2022.
Advocating "Innovation, Environment, and Value", the ANAHAW Certification also equips accommodation establishments with the capacity to boost their brand image, gain competitive advantage, and reduce operational costs and boost revenues
Official accreditation from the DOT is mandatory before hotels and resorts could apply for the ANAHAW certification, which is categorized into five levels: Level 1 corresponds to 50 to 59% satisfaction of the applicable criteria and indicators, with savings reaching up to 29%; Level 2 scores between 60-69%, with savings up to 35%; and Level 3 scores between 70-79%, with savings up to 40%.
Meanwhile, Levels 4 and 5 score between 80-89% and 90-100%, respectively, with savings reaching up to 46-56%.
The certification's percentage breakdown considers environmental policy administration and management, electricity and energy services, building infrastructure and surrounding, water, waste, wastewater treatment and management, chemicals and detergent, fuel, environmental protection and cultural preservation.
Technical assessments on the ANAHAW applicants and awardees were done by ANAHAW experts, namely:
Other ANAHAW experts recognized for their significant contribution to the technical assessments include:
ANAHAW is the Philippine Sustainable Tourism Certification that was developed by the DOT and GRaT Center for Appropriate Technology through the Zero Carbon Resorts (ZCR) Project funded by the European Union (EU) under the Switch Asia Program. ZCR aims to reduce the carbon emission of hotels & resorts following the 3R principles - Reduce, Replace and Redesign. This project was started by the DOT's Office of Tourism Standards and Regulation in 2011 with a series of trainings and seminars on green technologies and focus group discussions with industry stakeholders.
Tourism Chief Bernadette Romulo-Puyat has recently challenged industry stakeholders to practice sustainable tourism and demanded for long-term adherence to responsible production and consumption of resources.
"In the DOT, we see the need to inspire, collaborate, educate and habitualize our efforts on this advocacy, no matter how daunting. By inspiring, we engage consumers to embrace the role as responsible tourists. By collaborating, we enjoin experts, partners and volunteers to advance our advocacy. By educating, we help people become informed about our sustainable tourism and by habitualizing, we create doable ways for consumers to get into the habit of practicing sustainable tourism," said DOT Undersecretary for Tourism Regulation, Coordination and Resource Generation Arturo Boncato, Jr. as he represented Puyat in the opening ceremonies.
Undersecretary Boncato likewise stressed the importance of focusing on the best interests of the environment, tourists, industry stakeholders, and host communities, and also the possible environmental, social, and economic impacts, in generating projects directed towards genuine sustainable tourism, which involves collective efforts.
Meanwhile, Enrico Strampelli, head of the Development Cooperation Delegation of the EU to the Philippines emphasized the role of the ANAHAW in improving overall efficiency of tourism establishments such that not only does the certification ignite profit increase, it also directs the Philippine tourism industry into a more sustainable future.
Hotels and resorts are equipped with best practices and techniques for sustainable development and ecotourism that will largely contribute to the country's green economy and will lead to a highly competitive, environmentally sound and socially responsible Philippines - as is the mandate of the DOT for the National Tourism Development Plan 2016-2022.
Advocating "Innovation, Environment, and Value", the ANAHAW Certification also equips accommodation establishments with the capacity to boost their brand image, gain competitive advantage, and reduce operational costs and boost revenues
Official accreditation from the DOT is mandatory before hotels and resorts could apply for the ANAHAW certification, which is categorized into five levels: Level 1 corresponds to 50 to 59% satisfaction of the applicable criteria and indicators, with savings reaching up to 29%; Level 2 scores between 60-69%, with savings up to 35%; and Level 3 scores between 70-79%, with savings up to 40%.
Meanwhile, Levels 4 and 5 score between 80-89% and 90-100%, respectively, with savings reaching up to 46-56%.
The certification's percentage breakdown considers environmental policy administration and management, electricity and energy services, building infrastructure and surrounding, water, waste, wastewater treatment and management, chemicals and detergent, fuel, environmental protection and cultural preservation.
Technical assessments on the ANAHAW applicants and awardees were done by ANAHAW experts, namely:
- Engr. Anna Liza Lao (Cavite)
- Engr. Ma. Theresa Banta (Metro Manila)
- Engr. Von Saulo Infante (Metro Manila)
- Engr. Emelita Catalo-Guerzon (Davao)
- Engr. May Alelin Gerona Pagal (Metro Manila)
Other ANAHAW experts recognized for their significant contribution to the technical assessments include:
- Engr. Diosa Marie Aguila (Batangas)
- Marissa Victoria Claustro (DOT)
- Engr. Conrado Ostia, Jr. (Metro Manila)
- Engr. Moses Mabute, Jr. (Metro Manila)
- Arch. Ma. Oliva Alvero.
Tuesday, September 11, 2018
Philippine SEC's Advisory About Their Company Registration System
Securities and Exchange Commission (SEC) are experiencing technical challenges with their online Company Registration System (CRS) and they are implementing a transition measure to full automation. With this scenario, they are implementing the following interventions in order to address the registration requirements of corporations and partnerships:
1. For CRS applications submitted/ uploaded from initialization of CRS up to August 31, 2018 which are still pending, an e-mail message will be sent to you soon detailing what you should do to schedule an appointment with them for MANUAL PROCESSING of your applications.
2. For CRS applications submitted/ uploaded beginning September 1, 2018 onward, the same will continue to be processed online.
3. However, for those who have difficulty accessing/ using the CRS, kindly visit SEC's Head Office or any of their Extension Offices and Satellite Offices for assistance. They have set up FAST LANE KIOSKS manned by SEC personnel who will assist you in your application.
Also, to facilitate faster approval of your corporate or partnership registration, SEC is encouraging ALL prospective applicants to use the pre-formatted online CRS form instead of uploading your own forms.
For clarifications, you may call the following telephone numbers:
Direct lines - 818-5554; 818-5235; 818-0763
Trunk Line - 818-0921 local 279
1. For CRS applications submitted/ uploaded from initialization of CRS up to August 31, 2018 which are still pending, an e-mail message will be sent to you soon detailing what you should do to schedule an appointment with them for MANUAL PROCESSING of your applications.
2. For CRS applications submitted/ uploaded beginning September 1, 2018 onward, the same will continue to be processed online.
3. However, for those who have difficulty accessing/ using the CRS, kindly visit SEC's Head Office or any of their Extension Offices and Satellite Offices for assistance. They have set up FAST LANE KIOSKS manned by SEC personnel who will assist you in your application.
Also, to facilitate faster approval of your corporate or partnership registration, SEC is encouraging ALL prospective applicants to use the pre-formatted online CRS form instead of uploading your own forms.
For clarifications, you may call the following telephone numbers:
Direct lines - 818-5554; 818-5235; 818-0763
Trunk Line - 818-0921 local 279
Subscribe to:
Posts (Atom)