Hidden Truths About Some Real Estate Developers in the Philippines

Shady Secrets of Philippine Real Estate Developers: Must-Know for Filipino Investors

Not many know it, but there are plenty of shady practices by real estate developers that buyers should watch for. Perhaps you’ve heard about the broken agreements and unfinished projects that buyers, particularly OFWs, have experienced. The truth about investing in real estate is that you must do your due diligence before buying a property in the Philippines.

A Case of False Promises

More often than not, buyers get tempted to buy a property because of the beautifully rendered housing models in glossy brochures. Obviously, developers understand the psychology of Filipino real estate buyers, so it’s easy to play with their emotions and desires to finally get their dream house. Just put the best amenities in a luxuriously designed house to paint a comfortable and hassle-free living.
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In reality, these enticing features and model units are often far from expectations. For instance, the infinity pool is smaller and only accessible under certain conditions. Condo units may promise to offer breathtaking views, but in actuality, there are obstructions from other buildings. The state-of-the-art gym suddenly becomes not fully operational years later. So there are so many things to check before signing that contract.

​Delays in Construction

Building projects in the Philippines are not without delays. This is a common issue that seems to be very normal in any construction work. Sometimes, delays are forgivable when there are valid reasons behind them, such as supply chain problems or extreme weather conditions. However, this has been a long-time issue since many of the reasons are less transparent and more complex.
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Disputes, financial difficulties, and lack of planning are only some of the common reasons for project delays. This could be a major problem for those who have already sold their house, expecting to move into their new home, only to find out that the construction has been delayed and will need another extension to finish the unit.

​Hidden Fees and Unexpected Costs

Some home buyers don’t read the entire contract and get surprised when unexpected fees arise. However, many developers intentionally don’t reveal these costs upfront, so there are hidden fees that might surprise you after sealing the deal. Some of these hidden costs include real property taxes, association dues, move-in fees, and documentation costs. Additional charges may also arise after the quoted price, such as parking fees, installation of some utilities, and exclusive access to certain amenities.

​Final Thoughts

When all is said and done, it can really be frustrating to discover a lot of unpleasant surprises after buying a condominium unit, house and lot, and other properties in the Philippines. Aside from the poor construction quality and bad after-sales service, home buyers must be vigilant in spotting shady developers who aren’t honest in the beginning. But don’t worry, because you can find quality developers at REALS.PH website. We have listed the best properties for sale, including luxury condominiums in Baguio City, at reasonable costs. Contact us today to get a free quote.