Real Estate

Media

Part of The American Chamber of Commerce Journal

Title: Real Estate
Creator: Varias , Antonio
Language: English
Source: The American Chamber of Commerce Journal Volume XXVIII (No. 12) December 1952
Year: 1952
Rights
Fulltext: to move, with milling to continue until about March, 1953. Sugar .will bring in a substantial amount of dollars, which will improve local conditions. Bank receivables are still paid fairly well on time. With the arrival of imports li censed for the second semester, bank funds can begin to be available for other uses. It is expected that government financing might be available in January to provide for construction, which has lagged during the year. Trade sources report drugs still scarce. Indications are that merchants are not doing as well as was expected at the beginning of the holiday shopping season and tex tiles are not demanding the level of prices anticipated by textile merchants. It appears that there are ample stocks of textiles, particularly in some specialty lines. Other ship ments are expected before Christmas. Conditions pre vailing in specific lines naturally affect the general credit and collection situation. Some expect Christmas shopping to get under way at a better level soon to offset the slow beginning. The building trade is now experiencing a great short age of lumber for its projects. Lumber yards, which for merly were well stocked with all sizes and kinds of lumber, are now almost empty. Consequently, prices are going up. Form lumber and sawn lumber have increased in price by at least 30% and the tendency is for further increases. This shortage can be attributed to the fact that large quan tities of logs are being exported to foreign countries to take advantage of dollar payments. Very small quantities of logs are arriving in Manila. Another factor in the in crease of prices is the increase in the minimum wage of forest workers which has increased the cost of production considerably. Galvanized-iron sheets continued scarce, and gauge 24 is unavailable in the local market. The shipment of gauge 26, which PRISCO received, was distributed to storm-stricken areas in the provinces. With the rainy season over, the demand for this item will increase, and unless more shipments are received soon an acute shortage will be felt by builders and houseowners. Electric Power Production (Manila Electric Company System) By R. J. Baker Comptroller, Manila Electric Company Real Estate By Antonio Varias Vice-President, C. M. Hoskins &• Co., Inc., Realtors 1941 Average—16,316,000 KWH Kilowatt Hours 1952 1951 January.................................... 45,152,000 40,713,000 February.................................. 42,450,000 37,066,000 March....................................... 45,128,000 30,117,000 April.......................................... 42,798,000 39,197,000 May........................................... 45,580,000 40,405,000 June........................................... 45,223,000 40,712,000 July........................................... 47,542,000 42,041,000 August...................................... 47,988,353 42,817,000 September............................... 47,216,626 41,852,000 October.................................... 50,072,814* 44,017,000 November................................ 4 7,590,000** 42,628,000 December................................ 45,655,000 REAL ESTATE sales registered in the Greater Manila area during the month of November, 1952, numbered 536, with a total value of P6,661,919, as compared with 672, with a total value of P7,341,565, registered during the preceding month of October. Of the November sales, 145, with a total value of P3,360,520, represented deals within Manila proper, and 391, with a total value of P3,301,399, were sales within the cities of Quezon and Pasay, and in the suburban towns of Caloocan, Makati, Malabon, Navotas, Mandaluyong, Paranaque, and San Juan. Among the bigger sales registered during the month were: Total........................ 497,211,000 •■Partially estimated txue to November being a 30-day month with 5 Sundays and one holiday, output decreased about ■ 2,500,000 kwh from October. However, the increase over November, 1951, amounted to 4,962,000 kwh, or 11.2%. We expect the two new 4,000 kw units at the Blaisdell Station to be in operation for the holiday season. Building Construction By Juan J. Carlos President, Philippine Contractors’ Association DURING the month of October, the Office of the City Engineer approved building permits for construction work amounting to ?4,040,150. For the same period last year, the volume of work authorized amounted to ?4,465,040 in comparison with P3,380,U0 in 1950 and P5,035,115 in 1949. Among the big projects that were started during the month under review were: A l-story steel factory building for the Philippine Match Co., Ltdon Posadas Street, Sta. Ana, estimated at P400.000; On Oriente Street, Binondo, a 4-story reinforced-concrete apart ment building for Salustiana Dee, costing P300.000; For the Earnshaw Docks & Honolulu Iron Works, at Tacoma and 2nd Streets, Port Area, a l-story steel building, estimated at Pl50,000; A l-story steel building at Mendiola and Pandacan for the San Miguel Brewery, costing P 200,000; At 343 Echague Street, a 4-story reinforced-concrete building for R. de Skawivski, estimated at Pl50,000; For the rehabilitation of the Philippine Columbian Club Building on Taft Avenue, an estimated P80.000. The assignment of several lots in Malabon, Paranaque, Mandaluyong, San Juan, and Muntinlupa by Vicente Madrigal to Susana Realty, Inc. for the sum of P773.740; A property with a lot of 965.8 square meters on M. H. del Pilar Street, Malate, sold by Angela Dizon to Gamboa Estate, Inc. for P315,000; Three 2-story houses with a lot of 1,000 square meters on Misericordia Street, Sta. Cruz, sold by Rosario Mortel to Benito U. Galan for P85.000; A property with a lot of 610 square meters on Pennsylvania Street, Malate, sold by Emiliano J. Valdez to Demetrio Munoz for P76.000; A property with a lot of 493.4 square meters on Gastambide Street, Sampaloc, sold by Consuelo, Catalina & Delfina Reyes to the University of the East for P 74,000; A parcel of 1,742 square meters on Cabildo Street, Intramuros, sold by Francisco Boix to Zacarias M. Aquino for P66.199; and A parcel of 4,587 square meters in Forbes Park Subdivision, Ma kati, sold by Ayala Securities Corporation to Primo Santos for P61.924. T) eal estate mortgages registered in the Greater Manila area during the month of November numbered 614, with a total value of P8,961,399, as compared with 739, with a total value of P18,034,193, registered during the preceding month of October. Of the November total, 257, with a total value of ?4,358,362, represented deals within Quezon City, Pasay City, and in the suburban towns of Caloocan, Ma kati, Malabon, Navotas, Mandaluyong, Paranaque, and San Juan. REAL ESTATE SALES, 1952 January.......... February. . . . March............. April............... May................ June................ Manila ?6,085,610 2,629,939 3,757,283 2,216,532 2,978,391 2,388,796 Quezon City Pl,592,939 1,052,519 1,809,583 1,249,898 1,277,309 1,598,090 Pasay Suburban City Towns Total P197.596 274,017 366,011 352,130 687,001 440,171 *1,285,689 2,066,314 1,427,608 1,239,492 1,346,563 2,348,711 *9,161,834 6,022,789 7,360,485 5,058,052 6,289,264 6,775,768 485 July................. 2,127,614 1,235,423 466,223 1,617,947 5,447,207 August............ 1,902,420 1,191,815 62,196 2,139,672 4,042,092 September... 2,441,728 1,339,775 421,953 2,881,288 5,323,016 October.......... 3,859,547 1,052,776 398,549 2,030,693 7,341,565 November... 3,360,520 1,180,509 128,220 1,992,670 6,661,919 REAL ESTATE MORTGAGES, 1952 January..........P6,184,617 ?4,245,805 P265,740 ?3,933,904? 14,630,066 February.... 2,938,398 1,424,431 441,044 2,656,070 7,459,943 March............. 4,543,653 1,607,573 548,067 1,872,536 8,571,829 April................ 7,041,757 1,989,774 676,481 2,895,044 12,603,056 May................ 6,976,566 2,898,379 317,200 4,010,870 14,203,015 June................ 4,967,085 13,757,050 1,480,500 1,982,733 22,187,368 July................. 5,446,923 2,107,155 471,600 2,913,070 10,938,748 August............ 4,061,478 2,506,703 580,950 5,558,478 9,619,956 September... 13,215,004 2,183,513 467,150 6,641,864 19,856,868 October.......... 11,761,763 2,794,591 646,200 2,831,649 18,034,193 November... 4,358,362 2,180,278 323,600 2,099,159 8,961,399 Freight Car Loadings By Jose B. Libunao Traffic Manager, Manila Railroad Company LOADINGS of revenue freight in the month of October, 1952, totaled 1,696 cars. This was a decrease of 685 cars, or 28.77% less than in October, 1951, when the total was 2,381 cars. REVENUE CARLOADINGS BY CLASSES Revenue freight carloadings by general classes of commodities for the month of October, 1952, are shown below. October Commodity 1952 1951 Products of Agriculture.............................................. 2,970 5,198 Animal Products........................................................... 80 440 Mineral Products......................................................... 886 838 Forest Products............................................................. 4,063 14,051 Products of Manufacture.......................................... 18,667 18,216 Merchandise less than by carload........................... 6,940 7,472 Total. 33,606 46,215 The decline of 12,609 tons in October, compared with the same month in 1951, was more than the reduction in September, 1952, of only 7,656 tons. Of the 41 items which entered into this report, only 14 items registered increases, while 27 items showed decreases. The principal items which showed increases were fuel dil, cement, and merchandise shipped in less than carload quantities. These accounted for 3,341 tons. On the other hand, palay, copra, lumber, wood fuel, and petroleum and gasoline registered the de cline of 13,320 tons. The main cause of this reduction in tonnage shipped was the paralization of the southern lines for a solid month by the typhoon “Trix.” It is interesting to note that in the difference in the comparative decline for September and October, 1952, compared with the same months in 1951, lesser decreases were registered in products of agriculture and merchandise by less than carload loadings; more decreases in animal products and forest products; and definite increases for mineral products, products of manufacture, and miscel laneous items. In spite of the greater amount of decline in carloadings, it may be said with reasonable assurance that definite improvement is in store for the coming month, barring unforeseen events. Port of Manila By L. R. Went holt Vice-President, Luton Brokerage Company DURING the month of November approximately 75,000 tons of cargo were discharged on the piers and on lighters. Ship arrivals this month were about the same as last month; however, incoming tonnage dropped. This month the Philippine Ports Terminals experi enced again some expert pilferage of linen and lace ship ments. The pilfering was done in such a careful way that it was not be detected until the cases were opened by the consignee who found old newspapers instead of lace and/or linen merchandise. We understand the matter has been passed on to the National Bureau of Investigation, and it is hoped that the culprits will soon be apprehended. The pier strike on the United States West Coast ap parently was averted; such a strike would have entailed a further decline in the importation of merchandise into the Philippines. The revival of Japanese shipping is very noticeable in the Port of Manila; last week we noted, in one day, 6 Japanese vessels, belonging to different lines. Because of the small amount of merchandise handled, there was no congestion on any pier and deliveries in general were satisfactory. Ocean Shipping and Exports By B. B. Tunold Secre ta ry -Ma nager Associated Steamship Lines TOTAL exports for the month of October of this year were approximately the same as the exports for October last year. 130 vessels lifted 334,512 tons of exports during the months, as compared to 332,377 tons lifted by 115 vessels during the same month last year. Commodities which have registered a sharp increase over last year’s figures for the same month are: beer from 42 to 188 tons; lumber from 3,400,595 to 8,201,097 bft; molasses from 5,440 to 16,739 tons; chrome ores from 24,716 to 50,172 tons, and general merchandise from 513 to 1,468 tons. Exports during October, 1952, as compared with exports during October, 1951, were as follows: Commodity Alcohol.......................................... Beer................................................ Cigars and cigarettes............... Coconut, desiccated.................. Coconut oil.................................. Concentrates, copper............... Concentrates, gold.................... Copra............................................ Copra cake and meal............... Embroideries............................... Empty cylinders........................ Furniture..................................... Glycerine..................................... Gums, copal................................ Hemp............................................ Hemp, knotted.......................... Household goods and personal effects........................................ Junk metals................................. Logs............................................... Lumber, sawn............................. Molasses....................................... Mongo........................................... Ores, copper................................ Ores, chrome............................... Ores, iron..................................... Ores, manganese........................ Pineapples, canned................... Rattan, round (palasan)......... Rope.............................................. Shells, shell waste...................... Skins, hides................................. Sugar, raw................................... Sugar, muscovado..................... Tobacco, leaf.............................. Vegetable oil............................... Merchandise, general............... 1952 1951 27 tons 67 tons 188 ” 42 ” 15 ” — 5,065 ” 8,965 ” 7,895 ” 8,217 ” 10,739 ” 8,786 ” 233 ” 427 ” 64,438 ” 85,072 ” 6,650 ” 6,790 ” 256 ” 362 ” 223 ” 498 ” 546 ” 990 ” 384 ” 263 ” 34 ’’ 48 ” 45,153 bales 62,473 bales 102 tons — 280 ” 285 tons 414 ” 5,004 ” 26,213,995 bft. 19,231,522 bft. 8,201,097 ” 3,400,595 ” 16,739 tons 5,440 tons 10 " — 991 ” — 50,172 ” 24,716 ” 80,899 ” 108,809 ” 100 ” — 524 ” — 467 ” 215 ” 461 ” 365 ” 39 ” 62 ” 47 ” 75 ” 6,408 ” 9,500 ” 148 ” 449 ” 1,164 ” 831 ” 29 ” 22 ” 1,468 ” 513 " 486