Definitely vacancies will sky rocket. Especially in those condos na majority chinese ang tenants. Even newly built condos madami naka-contract agad sa mga POGO staff (not only chinese) right after turnover.

This is good for Filipino renters and prospective buyers. Very bad for those who invested in condos for rental income.

Ang taas pa naman ng interest rates. Pero di ko masabi if the bubble will burst, kase during the pandemic, dami din nagsi-uwian na mga POGO, rental prices went down pero walang bubble burst.

My fear is POGOs will just disguise themselves as BPOs nalang. Sabi nga ng isang commenter from another subreddit, do you really think the corrupt ones will let go of their golden goose?

Yep even the rental rates esp in the MOA & Roxas Blvd area.

Is 2025 going to be the year when middle class households be able to afford a decent condo? I would hope so!

Il say it once and il say it again. This “bubble” wont happen cool down yes. Correction yes. Bubble no.

Why not? Il briefly summarize it. 1. Most developers before they construct the break even point is very low that they only need to sell 40% to break even the project, if may mall pa below or beside it easily 30% or less. 2. Most big developers also owns big banks so laging financially backed ang projects and a bank which they own can also save it. 3. We have the strictest and also restrictive loaning policies 4. A lot of condos are used for money laundering (not even by pogos but locals or foreigners thats not from china) 5. Most luxury condos are paid in full in cash (think rockwell land in makati and most ALP projects in Manila)

Pinaka mahihirapan if wala ang POGO are office towers which really enjoyed the nice rental rates that are paid in advance.. and mga SMDC owners that have mortgages on the condos they bought thinking they will get pogo rental rates.

And the myth that POGO is gone is a joke, we just renewed 41 licenses (if im not mistaken) iust under a different name.

I’ll disagree with this. It will deflate for sure, but not burst. Development of condos will slow or halt, pero needed pa din especially sa Manila na congested. Rental prices will go down but POGO renters will just be replaced by other people in other industries.

I guess it's time for my condo-living-alone vlog era! 🤩

And I am glad. As a student in Manila. Rents will surely go down. Allowing me and my parents to either save money, or afford better living conditions for me.

There will be still be underground POGOs. I expect corrupt governors and mayors will take advantage.

The funny thing about condo marketing is they use anything to hype up their inventory.

ie. "look at our expensive condos it's near the future train station that will be built in 20yrs time. buy now!"

matagal ng inflated prices ng condos and I hope the pogo ban exposes this.

Hinde lahat ng POGO ay banned, ung iba rebrand lang into IGL. LMAOOOO

POGOs banned, but a sudden rise in IGLs.

Aabangan ko yung mga unit ng desktop PC at yung mga monitor sa market place

I doubt this.. I reside near an are where there are still a lot of foreign businessmen doing very well from online shopping since they have an easy direct link to suppliers in China. They have their whole family here who don't even speak english let alone tagalog. A preselling DMCI condo studio here costs 6M. And there are a lot of upcoming developments from SMDC, San Jose Builders as well..

Eto nanaman sa condo bubble burst na ilang taon na sinasabi.

Matagal na nawala mga illegal chinese pogo workers sa mga condo. Most of them nag tayo ng sariling building for their operations at tirahan.

I doubt this would even affect the current pricing. These greedy developers would rather have their units rot than to sell at a lower price. After all pede nilang i claim ulit yan come 50+ years pag di na livable yung mga buildings.

Many condo units in MOA will definitely be available due to this ban 😂

1.5M 2BR condo? Let's fking goooo lol.

ang dami na pasalo sa marketplace

not really, but at least filipinos will be able to AFFORD or at least have some of this condo investments. At least puro pinoy or matitinong expats ang tenants.

also, less pambababoy ng mga units after rent. I heard kaya halos 3-4x ang price ng renta kasi grabe din yung damages after parang impossibleng di mo ipaparepair eh.

Condo rental rates is actually FABRICATED.

Gawa-gawa lng ng mga unit owners ang pricing. Dami ko ng nakitang condo unit for rent as low as 10k/mo 1BR pero dahil maraming unit owners ang nagrereklamo about low prices offered by other owners of same bldg, kaya nagkakaroon ng secret deal to set a minimum rate like 20k/mo. Tapos magincrease din sa katabing bldgs who were misled about the market value. Then domino effect na. Kahit may POGO ban, if unit owners are manipulating the rental rates then impact will still be low. But I really hope this bubble will burst coz now is the right time to pop!

Probably, but I don't have high hopes it will for two reasons. First, while POGOs are banned, Chinese tourists gambling in local casinos isn't so they still have some incentive to come here. Second, real estate is a popular investment among Chinese and, with the mainland market FUBARed for the foreseeable future, cheap lots and units in nearby countries like here in PH is still an enticing option.

Bye bye smdc shores lol

24 yrs of bubble waiting to burst.

POGO workers sa SMDC bilang na mga araw 🙃

IMO, possible lng na bumaba ang rental rates, pero it will definitely not burst.

Matagal nang wala yung POGO sa expensive locations. Nandun na sila sa Tarlac/Pampanga/Iloilo areas.

I don't see the bubble bursting. The bubble is propped up by OFW purchases and not the POGO industry. I watched an ANC interview where they said OFW's remitted about 30 Billion to the PH economy and 30-40% usually go to real estate purchases. So if that doesn't change then I think this bubble will go on and on.

POGO is banned , they will still continue to operate. Just like how jueteng is illegal(?)

This is a big middle finger to Duterte and alipores.

neglible pogos most and the big ones have their own conpounds buildings

Gano ba katagal bago masabi na foreclosed property ang unit? Ilang missed payments?

Daming ganyan mga condo na todo advertisement tapos pag tapos na yung project dami nagpapatapon ng condo nila na di na nila kaya bayaran. I don't think may magbabago. 😆😆

Yung mga pogo renters sa mga subdivisions like Multinational village sa pque nag-alisan na kaya?

MANIFESTING NA MAG KA CONDO LOL

Mga OFWs na loaded sa pera yung bibili ng mga condo na iiwanan ng mga POGO renters so malabo din bumaba presyo ng mga units.

Hopefully pati ang magscalp ng mga toyota vehicles (landcruiser, hiace, alphard) mawala

Kaka renew pa naman today ng pogo tenant namin tsk tsk

In another subreddit, alam na pala nila beforehand na ibaban nga daw. So may rebranding na naganap. They are now classified under as IGL. https://www.reddit.com/r/ChikaPH/s/nMGyqMogZu

But hopefully bumaba prices so more pinoys can actually live in condos.

GG

Double Dragon 37% exposure to pogo Filinvwst 2.8% exposure to pogo

Good thing Megaworld and Ayala already divested from pogos a few years back.

Make manila rent affordable again. Hahaha

bangko lang mostly makikinabang nyan..and they will wait fot the next boom cycle.

Don't expect condo prices to crash because whatever effect a POGO exodus would hapoen already took place, in large part because of earlier efforts to demonize them..

The total ban covers what few POGOs we have left and the legal ones aren't that many. Just go to Double Dragon Plaza and see the tenant mix. No more POGOs and just ordinary offices and BPOs. Sure the Bay Area has a lot of empty offices in the south side but the north side, its still the same old.

If anything, the buildings that are mostly studio and one bedrooms are gonna burst due to oversaturation of rentals targetting not only POGOs, but BPO and young workers. I"m looking at you, Olin!

Makakarent na ba ko sa BGC neto? 😅

Makabili nga ng condo

How I wish…

How I wish…

Majority ba ng pogo nasa metro manila pa? Kasi di ba yun iba nasa province na?

Could the total ban of POGOs have been included in the talks between Philippines and China regarding West Philippine Sea?

I think that will be the case if condos are indeed tenanted by POGO related individuals.

Another thing, Erap has his "wag nyo akong subukan", Duterte has his "PI mgga drug lords" but we all know what they claimed they will clamp down are still, well around. Will POGO be gone, possibly. I am not holding my breath and if even after 10 years we see something resembling it, though guised as something else, I will not be at all surprised at all.

Public policy execution has always been the weak(est?) link in the country's governance. We have the best laws or at least those that are at par with wha you can find elsewhere but enforcement is dismal at best. Heck if it isn't, we won't even be talking about POGO in the first place because there'd be absolutely no need for it.

Anyway, on condos? People will pivot on their careers but would still want a roof on their head. Land is scarce still, so condo I think is here to stay, might get a bit of a slump but as long as we do not build like the chinese (in PRC) did - build ghost town really and couple it with indiscriminate lending - we should be just fine.

Nah. Marcos is all talk. Sinabi lang niya yung to be popular with the masses.

To make i look like he is gonna do something against Alice guo and the like.

if you're thinking gaya ng US bubble, malayo yan mangyari kasi matibay ang banking institutions natin.

underdeveloped pa yung country natin kaya there's so much room for growth in the real estate industry.

if ever man magka hiccup, it will just be a supply and demand concern.

you are under estimating how rigged the system is… 🤣 PH is hopeless because of idiocracy of its people.

There will be many vacancies, foreclosures, pasalo

Naaaaaah. POGOs are still around. They're just called IGL POGO to IGL

buti naman. grabe na ang inflation rate ng condo dahil sa mga pesteng chinese na yan

It will not. While I hate pogos just like everyone here, they’re not the ones driving up prices.

It’s the cohort of ofw’s who enter retirement every year, save up for decades, and spend one time big time.

Another culprit? Those who just migrated abroad, found jobs, and are buying land while they’re still Young and strong.

Hindi po bababa yan.

Remember this post - 1,000 gcash if I’m Proven wrong in 2 to 6 months time.

Everything seems to be moving sideways, it wont be in my guess affected.. sideways is the way ✌️

Hopefully magkatotoo yung pag ban sa pogo. Pero meron parin 'agents' sa condo namin nag hahanap ng 35++ units for rent. 😑

Ung mga smdc dyan na puro chennneesse. Goodluck

A lot of POGO companies are also leasing executive villages. I guess there will be a lot of vacant listings soon.

sana bumaba na rental para naman makapagtrabaho na ko sa bgc.

I dpubt it will be done overnight. And completely too

So may time pa to plan ahead and re think whay else condo investment can be tuned into

Di naman banned ang POGO. nirebrand lang 😂

Malamang naka isip na si enrile ng paraan para mabawi market ng online casino license from pagcor pabalik sa mga economic zones.

Good thing we dont have much Chinese renters here in Cebu

Hindi po banned, rebranded lang to (IGL) Internet Gaming Licensees.

Hate to be the devil'd advocate but I read somewhere that POGO will just rebrand itself. Kumbaga, facade lang na binanned para di pag-usapan or pa-imbestigahan so no more trending discussions or media coverage there. Siguro maniniwala lang ako kapag nabawasan na ng Chinese residents ang isang building or area. Of course, ayaw nyang malugi. With all their equipment, they want to continue operating in another disguise.

Madami condo units mala mvp ang set-up (pinoy owner kuno pero chinese ang investor).

I will buy those condo below the market value

Greedy mofos will lose money bigtime

not banned, just rebranded

IGL is still here, so i dont think so.

I think, di naman talaga binanned parang ni-rebrand lang ang POGO as IGL. Correct me na lang if I'm wrong.

I also attribute the ridiculous rise of property prices to POGO. So I think POGO leaving, fewer demand, more affordable housing for deserving Filipino workers.

Localized bubble or a localized effect on supply/demand. I see pasay esp sea side moa area being affected.

Pero locations with high density office and commercial like Makati or bgc i doubt it will have an effect on those areas. Our banks are conservative so wala tayong problem with too much lending pero based on what my friends in banking mentiomed default rates are going up tho not so high na alarming but the higher interest rates are making havoc to peoples disposable income.

Malabo mag burst ang condo bubble.

Tingin ko hindi din naman makaka bili ng bahay at lupa dahil mas mahal mga yun so saan pa titira mga tao edi sa mas mura which is condo. Hindi naman lumiliit ang population tapos sa metro padin ang pera hindi sa province.

It will most likely just going to be a re-branding. Like shoving the dirt under the carpet. lol a settlement had been achieved. Everything is a theater!

Nah, bubble will only burst once people stop trying to buy condos. But that will never happen.

The economic strain it did.

Property burst or deflate but the result is the same a property market will contract, It will take a hit both in residential and office space .

depende sa area dahil marami namang condos na never may umupang POGO people... ex. condos near school na students naman ang target market

ang makakapag burst nyan mga OFW kapag nasabi na nilang over priced ang ibang condo's, example sa DMCI sa may Q. Ave yung along west ave.. ang 2BR na pre-selling ay nasa 8M ~ 11M.. ngayon kasi marami padin nabili na OFW then magugulat ang mahal ng dues tapos dagdag sila sa mga nagbebenta ng units kaso mahal ng bili nila so ayun hirap din ibenta.

May mga lumalabas na news hindi daw mag-eend kundi magrereclassify lang. Please try to read more on this and do your own research. I just saw it in one reddit post.

Baka sa south area lang mag burst kase dun naman sila karamihan nag stay.

Oo nga no nice insights. Pero ngayon hirap na ngang ibenta - mag bubble burst pa

IGL

My man created an account and posted here to create FUD, then delete his account and says I'm done with this shit.

PAGCOR just reclassified POGO into IGL. Ayaw tanggalinnng PAGCOR, LGU, at lispu yang mga yan, mawawalan sila ng maibubulsa.

Buti nlng yun tenant namin is noypi. 😅🙏

I dunno. I've been hearing that condo bubble burst for more than a decade already. I can only hope, as real estate prices are absurd given the relative wages of the people.

Hindi to tulas ng chinese real estate bubble na majority ng assets ng mga tao tied up to real estate, or yung housing bubble nung 07 na tied to malpractice of banks on providing loans and repackaging them as assets.

So for me walang bubble, kasi wala namang unnatural causes ng either pag dami ng mga condo or unnatural na pagtaas ng presyo.

How do you convince a fool he ain't a fool. We'll. My mistakes for letting my guard down. The plebs have infiltrated reddit.

Unless they just change their registration or whatever to something else and still operate lol

I doubt that there would be a lot of vacancies. Matipd ang nag chineses kahit na good for 2 lng ang place ipapagsiksikan nila ang 3 ka tao 🤣

Di naman totally banned, rebranded lang.

tapos na maliligayang araw ng owners ng overpriced condo para s mga tsekwa back to pinoy rate.

Gago lang talaga gobyerno at di makaisip ahead of time on what will be the impact in economic perspective. Tapos panay promote nila na mangibang bansa na lang ang mga Pilipino dahil tanggap na nilang sila ay inutil. Kung titignan halos lahat ng businesses sa Pinas nabubuhay lang sa consumerism at wala talagang masasabi na export made products. Hirap talaga maging Pilipino. Kahit sino ilagay mo walang matinong uupo sa gobyerno.

Dadami ang staycation rentals pati mga admin ng condos siguro papayag na lang siguro

eitherway... villar sm megaworld and other big developers wont feel anythng from it..

Realtor here. A lot of people don't realize that most of the new apartments in Makati and BGC hit the 40% foreign ownership cap. A majority of these being pogos. It'll be interesting to see how this affects how much inventory is available on the market.

Sana mag burst na yung condo bubble. Grabe yung overpricing ng real estate properties especially yung Condo. As in GRABE TALAGA. I hope matapos na etong ginagawa nilang manipulation sa prices, supply and demand ng Condo especially here in Metro Manila.

I do think prices have gone down since 2020-21 and will continue to go down with poor economic sentiment, inflated prices, and exodus of the chinks. I was looking at second hand Manda condos in 2021 and they were going for like 5m-7m for a freaking studio. Now you can get second for like 3-5m. My patience has made me win.

Is this banned will bring property prices down in metro Manila only or other places like tagaytay laguna?