Real estate

Media

Part of The American Chamber of Commerce Journal

Title: Real estate
Creator: Hoskins, C. M.
Language: English
Year: 1949
Rights
Fulltext: This is of major importance to the local gold indus try in view of continuing high costs. It remains to be seen whether this is a temporary or permanent state of affairs. If the latter, then profit estimates of local gold mining companies in future will be subject to downward revision. In the Commercial and Industial section, selective demand for Sugar issues has been a feature. impersonal expression of pesos and centavos cannot accurately gauge the human suffering involved nor the overall loss to the Philippine economy. This staggering fire loss and burden to the Phil ippines should be of concern to all the people, for in one way or another they affect all the people be they taos or captains of industry. Mining Shares Electric Power Production Manila Electric Company System By R. J. Baker Manila Electric Company ■1949 1948 January......................... 33 745 000 27 301 000 February........................ 31 110 000 26 021 000 March............................. 34 776 000 26 951 000 April............................... 33 048 000 26 871 000 L O May................................ 34 453 000 28 294 000 w June................................ 34 486 337 29 216 000 £ July................................ 35 726 123* 31 143 000 T August........................... 35 381 500** 31 993 000 September...................... 32 012 000 h October.......................... 33 943 000 November...................... 32 661 000 R S December....................... 35 104 000 Over-the-counter business in mining stocks was again principally confined to Benguet Consolidated, with about 22,000 shares traded between high P4.75, low P4.35, close P4.45. Other business included 10,000 shares Taysan “A” at 12 centavos In Commercial issues, 100 shares Kabankalan Sugar were reported at P85, also 4,300 shares Manila Broadcasting at 1.30 and 340 shares Victorias Milling at P155 and P160, with almost all business at the latter price. TOTAL ......................... 361 510 000 * Revised ** Partially estimated The Caliraya Hydro Plant was shut-down for the period August 14-20, and we estimate a 1,200,000 KWH was not used during that period due to our in ability to carry the load with the remaining generat ing equipment. The increase over August, 1948, was 3,388,500 KWH, or 16%. Insurance Victor H. Bello Supervisor, American Foreign Insurance Association RECENT investigations by Government entities into alleged arson anomalies should be applaud ed by all concerned. All concerned in this instance means not only those bodies appointed to uphold law and order or fire insurance companies but the entire citizenry of the Republic of the Philippines. Arson is a despicable crime. Perhaps more de spicable and onerous than premeditated murder, in juring as ’it does in most instances the innocent stranger. The magnitude of such a crime is recog nized throughout the world and is prosecuted by law enforcing bodies with such vigor that the crime of arson in most countries is rare in comparison to other major crimes. The Philippine economy today is burdened with a fire-loss ratio that it can ill afford. Manila alone, for the fiscal period ending June 30, 1949, suffered fire losses in excess of P10,000,000, or a per capita loss of P7.25 based on a population of 1,500,000. This Real Estate By C. M. Hoskins (0/ C. M. Hoskins & Co., Inc., Realtors) REAL estate transfers in Manila during August totalled P2,228,597, compared with P3,019,784 for the month of July. Mortgages recorded amounted to P4,924,841 for August, against P12,446,530 for July. Cumulative totals of sales for the first 8 months from 1946 to 1949 were as follows: Januar-July 1946 ...................................................... P27.926.910 1947 ...................................................... 47,356,765 1948 ...................................................... 39,277,629 1949 ......................................................... 25,306,764 City of Manila real estate statistics seem to be losing some of their value as an index to metropo litan real estate activity, due to the steadily increas ing volume of sales in other portions of the Greater Manila area, such as Santa Mesa Heights, New Ma nila, Diliman, and Mandaluyong. These sections are capturing a substantial share of the residential pur chasing power of the metropolitan community. 389 REAL ESTATE SALES IN MANILA, 1940-1949 Prepared by the Bureau of the Census and Statistics Note: A large percentage of 1945 sales and a diminishing percentage of 1496 sales, re present Japanese Occupation transactions not recorded until after liberation. January February March . April . . May . . June . . July . . August . September October . . November December Total . . 1940 P 6,004,145 918,873 1,415,246 883,207 403,866 542,187 1,324,861 1,905,828 1,141,114 993,103 938,416 1,504,004 P17,974,844 PIO,647,285 P22,890,133 P45,537,914 P68,260,104 P57,798,121 1941 P 962,970 779,783 1,532,104 988,380 1,129,736 598,431 559,742 1,239,414 815,112 1,182,678 858,235 (?) 1945 P 7,943,605 1,337,830 (?) 213,262 962,008 1,212,780 1,123,565 699,740 1,870,670 2,096,893 2,555,472 2,874,408 1946 P 4,385,011 2,267,151 2,622,190 1,916,293 3,684,937 3,637,956 4,974,862 4,438,510 4,698,896 5,545,800 3,340,384 4,025,926 1947 P 6,030,012 7,217,317 7,166,866 8,611,076 4,618,181 3,988,560 4,097,183 5,627,572 7,437,213 6,083,486 4,177,054 3,205,584 1948 P 3,644,734 3,879,633 4,243,719 5,021,093 3,129,799 8,019,246 5,146,529 6,192,876 4,737,581 5,350,376 3,046,287 5,386,248 1949 P 3,965,420 2,701,668 3,362,635 3,677,630 4,253,395 2,793,217 3,019,784 4,924,841 P28,698,590 The rental situation in Manila shows an abund ance of residential properties available in the Pl50 to P500 class, including both apartments and detach ed dwellings. Housing for low-income groups con tinues critically short, as very little reconstruction money has been channelled into low-income housing since 1941. Choice retail locations are still in good demand, with a slight easing of rental rates. Office space shows a growing percentage of vacancies in new buildings, and warehouse space is more readily avail able than at any time since 1945. Office and ware housing space appears to be feeling the effects of import control. During August the Supreme Court held invalid the executive order of President Roxas limiting res idential rentals to 12% of assessed value. This de cision restores to effectivenes -Republic Act No. 66, which establishes a rental ceiling of 20% of assessed value. In some quarters it is felt that if the 20 fi gure is allowed to stand, it will bring about sub stantial activity in the construction of low-rent dwell ings, particularly of the “accesoria” or row-house class. Ocean Shipping By F. M. Gispert Secretary, Associated Steamship Lines TOTAL exports continued to show an increase in tonnage over last year. A total of 189,210 tons was exported to all destinations during ■ July of this year, as against 170,156 tons exported during the same month last year. Exports of the more important commodities dur ing July this year, as compared with July last year, were as follows: 1949 1948 Alcohol ................. 86 tons 174 tons Coconut desiccated. 9,412 ” 8,376 ” . Coconut Oil ........... 9,472 ” 2,800 ” Concentrates, copper ................ 1,397 ” 151 ” Concentrates, gold . 174 ” 44 ” Copra .................... 50,014 ” 38,516 ” Copra cake/Meal .. 4,544 ’ 4,544 ” Embroideries ........ 176 ” 171 ” Empty containers . 450 ” 310 ” Fish, salted ........... 51 ” 6 ” Furniture, rattan .. 307 ” 590 ” BUILDING CONSTRUCTION IN MANILA: 1936 TO 1949 Compiled, by the Buread of the Census and Statistics from data supplied by the City Engineer’s Office. Annual Total . P6,170,750 P7,530,690 P9,280,560 P9,053,250 P8,234,460 P5,692,273 P12,186,150 P47,526,905 P73,907,248 P82,792,569P40,233,975 Average P 514,229 P 627,557 P 773,380 P 754,438 P 686,205 P 474,356 P 1,015,513 P 3,960,575 P 6,158,937 P 6,899,381 P 5,747,710 1936 1937 1938 1939 1940 1 1941 | 1945 1946 1947 1948 1949 1VLUJN 111 | (Value) (Value) | (Value) | (Value) | (Value) | (Value) | (Value) (Value) | (Value) | (Value) | (Value) January . P 540,030 I> 426,230 P 694,180 P 463,430 Pl,124,550 P 891,140 P — F► 1,662,245 P 3,645,970 P 6,571,660 P 4,807,320 February 720,110 479,810 434,930 1,063,950 1,025,920 467,790 _ 2,509,170 3,270,150 6,827,005 7,286,630 March . . 411,680 396,890 1,300,650 662,840 671,120 641,040 — 3,040,010 3,398,910 7,498,560 8,100,700 April . . 735,220 659,680 770,130 1,029,310 962,420 408,640 462,020 3,125,180 • 8,295,640 7,370,292 5,558,245 May . . . 400,220 670,350 1,063,570 1,139,560 740,510 335,210 1,496,700 3,964,460 5,564,870 8,570,410 5,070,380 June . . . 827,1'30 459,360 754,180 809,670 542,730 418,700 2,444,070 3,904,450 5,898,580 10,217,840 4,809,250 July . . . 302,340 691,190 756,810 495,910 357,680 609,920 1,741,320 3,062,640 9,875,435 7,771,487 4,601,450 August . . 368,260 827,660 627,790 622,050 661,860 306,680 1,418,360 4,889,640 7,428,260 7,568,950 September 393,100 777,690 684,590 554,570 590,380 530,830 1,015,250 7,326,570 7,770,310 7,095,860 October . 663,120 971,780 718,190 645,310 738,700 699,040 639,030 4,630,550 6,747,240 5,368,800 November 460,720 320,890 972,310 461,580 485,100 315,930 1,364,310 4,373,390 7,088,283 3,424,125 December 648,820 849,160 503,230 1,105,910 333,490 67,553 1,605,090 5,034,600 4,924,320 4,507,580 390