Maceda Law: 50 Years of Patience is Enough
“One cannot enrich himself at the expense of another” – so says the legal precept. The Maceda Law was enacted on August 26, 1972 “to protect buyers of real estate on installment payments against onerous and oppressive conditions.” Essentially, it grants installment buyers the following rights: The right to pay in advance any installment or […]
Preserve VAT exemption status quo
The Chamber appeals anew for immediate government intervention against the looming value-added tax imposition on housing purchases, as the three-year reprieve under Republic Act No. 10693 or the Tax Reform for Acceleration and Inclusion (TRAIN Law) ceases by December 2020. Such intervention is imperative not only to stimulate the housing industry as the number one […]
Reforming Philippine Property Valuation
CREBA welcomes the proposed Property Valuation Reform Bill, or Package 3 of the Comprehensive Tax Reform Program (CTRP) for seeking to introduce reforms in real property valuation and assessment, reorganizing in the process, the Bureau of Local Government Finance (BLGF) under the finance department. As a group composed of most of the country’s property industry […]
From the Property Sector: A Wish List
Jones Lang La Salle saw the Philippine property market as vigorous as ever this year, while Colliers expressed confidence the sector remains strong enough to withstand external headwinds threatening the global economy. Yet, against this growth potential remains an ominous backdrop of a housing backlog of at least 6.57 million – a number that keeps […]
Quality Housing Laws
Ask any seasoned real estate developer how long it takes before commencing a housing project in the Philippines and expect to hear pre-construction stage running at a minimum of 3 to 5 years. The Housing and Urban n Development Coordinating Council (HUDCC) attests that every project requires about 100 documents and 68 permits from at […]
Putting an end to long-standing housing woes
CREBA is throwing its full support to House Bill No. 4886 filed by House Speaker Gloria Macapagal-Arroyo which seeks to create a Comprehensive Homme Financing Program (CHFP) that will entitle all income-earning Filipinos to fixed, low-interest, long-term housing loans whether or not they are members of the Social Security System (SSS), Government Service Insurance System […]
