Real estate

Title

Real estate

Creator

Varias, Antonio

Language

English

Source

The American Chamber of Commerce Journal Volume XXVII (Issue No.11) November 1951

Year

1951

Rights

In Copyright - Educational Use Permitted

Fulltext

it were possible to store electricity the system capacity could be very greatly reduced; but since electricity must be generated the instant that it is used, capacity must be available to meet the highest demand. With the advent of shorter days and the holidays, higher demands are expected to strain system facilities. Two large central station additions are now in progress to provide more capacity in future years. April. .. May... . June.... July.. . August.. Sept.... October.. 3,140,154 3,753,891 4,215,944 3,233,375 9,413,329 6,110,125 3,868,876 902,932 1,150,614 5,184,350 1,188,026 1,926,098 2,860,320 3,342,480 188.750 372,032 869,144 351.750 757,300 289,760 682,930 1,057,926 1,231,810 1,531,450 1,925,497 3,171,420 2,653,960 2,800,185 5,289,762 6,508,347 11,800,888 6,696,648 15,268,147 11,914,165 10,694,471 Real Estate By Antonio Varias Vice-President, C. M. Hoskins S* Co., Inc., Realtors REAL ESTATE sales in the Greater Manila area regis tered during the month of October numbered 640, with a total value of P5,316,966, as compared with 519, with a total value of P5,818,368, registered during the preceding month of September. Of the October total, 204, with a total value of P2,021,905, represented deals within Manila proper, while 436, with a total value of P3,295,061, 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: A property in Quezon City sold by the Lutheran Church to Ester D. Herrera for Pl 50,000; A property with a lot of 4,000.98 square meters on San Luis Street, Ermita, sold by Deutcher Klub, Inc. to Claro M. Recto for P140.000; A 2-story apartment building with a lot of 832.7 square meters on Taft Avenue, Malate, sold by Felipe C. Roque to Anicia Santos for the reported sum of P65.000; A property with a lot of 223.1 square meters at Padre Gomez and Sales streets, Sta. Cruz, sold by Fred M. Harden to Apolonio Aguirre for P65.000; A property comprising a 3-story concrete building with a nicely improved lot of 2,004 square meters on Easy Street, San Juan, sold by Jose Ma. Ansaldo to Francisco Fule for P62.000; and A property with a lot of 2,684 square meters in San Juan sold by Francisco Fule to Edmundo A. Reyes for P50.000. ■p eal estate mortgages registered in the Greater Manila -*'-area during the month of October numbered 618, with a total value of P10,694,471, as compared with 469, with a total value of Pll,914,165 registered during the month of September. Of the October total, 235, with a total value of P3,868,876, represented deals within Manila proper, and 383, with a total value of P6,825,595, were deals within the cities of Quezon and Pasay, and in the suburban towns mentioned above. Building Construction By Juan J. Carlos President, United Construction Co., Inc. DURING the month of September, the Office of the City Engineer approved building permits for con struction work amounting to P3,217,240. For the same period last year, the volume of work authorized amounted to P2,351,020, in comparison with P4,949,690 in 1949 and P5,144,350 in 1948. Among the big projects that were started during the month under review were: A 3-story commercial building for Ho Thay Co., costing Pl70,000 at 710 Ylaya, Tondo. A reinforced concrete bodega for the Alhambra Cigar 8s Cigarette Manufacturing Co. on Tayuman, Tondo, estimated at P150.000. Remodelling and alterations to the Dalisay Theater on Rizal Avenue, costfog P120.000. In general, prices of essential items during the period under review were steady. Demand for materials was small. It is expected that prices will continue to be firm. In the present-day construction business, Intramuros district has assumed a position of great importance. Trad ing of properties in this section during the last few months has been brisk. There are at least three important projects which are scheduled for immediate construction, but due to lack of a definite and clear-cut policy on the design of structures in this area, the projects are still frozen on the boards. The proposed 6-story office building of the PhilippineAmerican Insurance Co., which is estimated to cost ?6,000,000 is still awaiting the “go” signal from the authorities concerned. Likewise, the proposed P2,000,000 college building for the Lyceum of the Philippines, on the former site of the San Juan de Dios Hospital, can not be started yet. A proposed gymnasium for the Mapua Institute of Technology on a newly acquired 18,000 sq. m. lot, for which the Institute paid more than P 1,000,000, is still on the boards. There are several minor projects in this area which will be started as soon as a definite policy on con struction is laid down by the authorities. REAL ESTATE SALES (From January to October, 1951) January.. February March... April.. .. May........ June........ July......... August... Sept........ October.. Manila Quezon City Pasay City Suburbs P4,466,475 3,549,050 4,562,104 5,272,052 2,586,055 2,793,341 2,839,423 1,890,113 3,879,750 2,021,905 Pl,267,690 3,775,341 1,698,970 1,178,036 1,394,514 1,435,895 1,066,942 1,986,826 946,647 1,325,274 P743.346 709,598 645,878 487.954 819,779 578.954 497,387 149,318 119,942 652,482 Pl,453,264 1,411,773 1,814,525 1,738,654 1,505,885 1,793,395 1,697,312 1,295,144 872,029 1,317,305 Total P7,939,775 8,445,762 8,721,477 8,676,696 6,306,233 6,601,585 6,101,064 5,321,401 5,818,368 5,316,966 REAL ESTATE MORTGAGES (From January to October, 1951) January.. P2,105,600 P 490,457 P272.300 Pl,051,546 P3,919,903 February. 5,636,640 1,106,948 869,100 1,722,790 8,334,848 March... 3,817,877 1,373,880 245,760 1,970,627 7,408,114 Port of Manila By L. E. Burgett Operations Manager, Luzon Brokerage Company WITH the settlement of the United States East Coast waterfront difficulties, tension here eased noticeably. The effect on our imports from the United States will be limited to only a short delay in arrivals about the latter part of this month. Commodities of all types continue to pour into Philip pine ports in an ever-increasing stream. Noteworthy is the fact that more “materials for manufacture” are appearing on the cargo manifests, while items in the upper tax brackets continue to diminish. Many shipments of ECA sponsored goods have already arrived and are being distributed, and we expect a general stimulation of business to result from the ECA financing 378

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