Economic Enterprise Expected to Boost Baguio City’s Income
Mayor Benjamin Magalong plans to explore the earning potential of economic enterprise to increase the city’s annual income. This is to reduce dependency on taxes and build a stable revenue stream in order to increase the budget for various projects including health and social services. Since 2015, the city mayor said that their income has slugged and they struggled to make ends meets, especially during this pandemic.
The projects they are pushing through include project lightning, digital transformation center, market development, intermodal transport terminal, and pay parking projects. Once these projects become fully operational, they are expected to generate around 500 to 600 million pesos. The huge impact of the pandemic was largely felt on the significant decrease in tax revenues that led to lower income per year.
Tax reforms, particularly in the real estate sector like condo in Baguio City, will remain hard to implement because of the ongoing pandemic and even in the post-COVID era – that’s “from 10 to 20 up to even 40 years,” as Mayor Magalong mentioned. So if you’re currently looking to invest in house and lot in Baguio City, consider all these developments and changes that are being implemented in the city, and make sure to work with a real estate agent in Baguio City.
Consulting Real Estate Agents In Baguio City: Find Your Dream Home!
Looking for a new place to put down roots for a fresh start? Or are you simply looking for a spot that you can convert into a vacation house that’ll be the envy of your friends? Whatever your reasons for scouting out new property somewhere, the Summer Capital of the Philippines should be one of the top options on your list.
Famous for its cool breezes, verdant pine trees, and rich cultural heritage, Baguio City is a dream location for those thinking of moving away from the bustle of Metro Manila. But you may need a little extra help to find the right place for you. It can be tempting to go through the process of leasing or purchasing a house or condo in Baguio City – but here are solid reasons why you should get a real estate agent in Baguio City to help you instead!
Save Yourself The Headache Of Handling Paperwork
Is that property’s knockdown price because of a cloud over the legal title? Are there issues with ownership of the house and lot in Baguio City that you want to buy? Do you need to go over the owner’s housing loan papers again?
These are just a handful of the questions that a prospective home owner will have to deal with when looking at different kinds of property. Let’s get real: most of us don’t have a clue where to start with these documents. But real estate agents do, and they’ve been trained to handle these issues with a fine-tooth comb. Let them take care of preparing the necessary documents with the right parties and agents, so your purchase or lease will be a smooth and hassle-free one!
Get An Insider’s Perspective
If you’re not a Baguio City native, it’s going to be tough to devote enough time to survey all the potential properties you’ll buy or rent. But an agent who’s already there can do some investigating on your behalf in very little time. They may even already have knowledge of the area based on their own experience living in the city.
Who’s a reputable developer? Is this condo situated somewhere that floods when it rains, or heats up way too quickly in the summer? These are things about your potential dream home that they’ll know and get to check out, while you can focus on handling your daily tasks!
Find The Best Deal Possible
Haggling is an art, but it isn’t just guesswork; it’s anchored on knowing historical properties for an area as well as the circumstances of a property’s availability. These things take time to find out, and negotiating can be a drawn-out, exhausting process. Real estate agents are used to bargaining with stubborn owners and cautious buyers, so hire them and put their expertise to good use! They may be able to get a price that you wouldn’t have been able to negotiate!
Looking For Baguio Condos? Here’s Why You Should Ask Agents
With the advent of the internet and online listings comes the belief of many prospective renters or buyers that they should strike it out on their own. After all, real estate agents charge professional fees for their services. Perhaps you’re thinking that you can save a pretty penny by simply looking up properties online and doing the legwork yourself.
However, in the long run, this may end up costing you more – especially if you’re not a resident of the city where you’re planning to rent or buy property. If you’re thinking of getting a house and lot in Baguio City, here are some solid reasons why you should enlist the assistance of a real estate agent!
They’re More Familiar With The Area
Let’s face it: this is their home turf. They’ve worked here for some time, they know which projects are reputable and well-funded, and they know how to negotiate with prospective sellers or lessors here. They’ll also have a local’s knowledge of which areas are best for residing in, and which may have issues that aren’t apparent even during a tour of the property.
For example: during a visit, you may not realize that the direction of the wind blows a certain way against your desired house or condo, which can blow unpleasant smoke fumes daily into this prospective home. So, ask an agent – they'll have an idea!
They’ll Know About Properties That You Can’t Find Online
Not every house or condo in Baguio City that’s available is listed online. Even then, listings online may be inconsistent. Perhaps the owner has already knocked down the price, or your desired property is already unavailable.
You may not figure that out until you’ve already spent time, money, and valuable gas to get there, but a real estate agent in Baguio City will know about the various properties nearby. They may even know some that fit your criteria which have just come on the market but haven’t been listed online yet.
They’ll Do The Legwork For You
Negotiating for lowered association fees, talking to owners, and surveying various properties can all be very tiring – and there are plenty of documents that need to be signed too! Instead of wearing yourself out talking to a bunch of people on your own, let a reputable, experienced real estate agent take care of these things for you. Not only will they make sure that everything is above board, but they just might also be able to get your desired property at a lower price!
Save Yourself The Hassle And Fuss
A seasoned real estate agent will be able to handle things for you and suss out the best condo or house for your needs, so don’t regret spending if it means getting your money’s worth! When it comes to finding your dream home in the Summer Capital of The Philippines, you can’t put a price on your peace of mind and future haven!
Tourist Influx Amid the Pandemic and the Proposed Land Market Value Increase in Baguio
Baguio Welcomes More Tourists While Land Market Value Is Eyed for Significant Increas
Baguio City is expecting more tourists to be coming in throughout the summer season. After almost two years of lockdown due to the pandemic, people are now enjoying their time around the popular spots in the summer capital. Approved travel registrations continue to increase, especially during peak holidays.
According to the city mayor, there’s no limit for the number of tourists arriving at the city, but the city government still observe the minimum health and safety protocols to prevent COVID infection among visitors. Vaccination is one of the travel requirements, hence people are urged to get the jab before traveling in and out of the country.
Meanwhile, business groups in Baguio City opposed the land market value increase proposed by the city council. The proposed new market values are based on actual conditions and the Bureau of Internal Revenue’s zonal valuation. If the market values will be increased, the city government promised to “lower the assessment levels” and therefore “will not result to confiscatory taxes”.
Whether you’re planning to buy a condominium in Baguio City or invest in a new house and lot in Baguio City, it’s convenient to contact a real estate agent in Baguio City to assist you in every step. Feel free to contact us and we’ll give you the details you need.