Law against overpricing of land.. meron ba?

**AirBender** · June 27th, 2009 05:18 PM

Yan ang hirap dito sa atin eh, mga opportunista talaga ang ibang developers. Ganyan din ang isang condo tower sa Pasay where my uncle bought a unit.

I don't think there's a law but you could inquire at HLURB if they can do anything about it. Wala namang sigurong masama kung magtanong diba?

**fourtheboys96** · June 27th, 2009 06:49 PM

law of supply and demand at work.

high demand for housing in the urban area leads to high prices.

**Sabrina** · June 28th, 2009 10:36 AM

Originally Posted by Altis6453

Wala pong batas sa pag-control ng presyo ng lupa. The advice given here is right. Either sell the condo and live elsewhere where there's free parking or just rent.

Another thing you can do is to hire an independent appraiser to know the market value ng isang property. At least you know kung mas mataas ang value ng property na nabili mo or nabiktima ka nga ng overpricing. If you're planning to sell your unit, ganun din ang posible mo gawin, either mas tataas ang value nian becoz of location or improvement na ginawa mo.

**boybi** · June 28th, 2009 11:19 AM

You should have checked everything first before you bought that condo unit, like what's included with the price you're paying for, etc.

**blacksun25** · June 29th, 2009 06:55 PM

salamat po sa lahat ng nagbigay ng advise. mukhang ibebenta ko na lang to at hahanap na lang ako ng single-detached unit na may parking na as advised. medyo nabubuwiset na rin ako talaga sa mga patakaran ng condo. Ang hirap kumilos, bawat kilos mo kailangang ipaalam pa sa kanila.

**alwayz_yummy** · June 29th, 2009 07:19 PM

ganyan talaga condo..di ka may-ari ng bahay..pero pag sa subdivision ka--ung subdivision talaga,ha.. lahat may bayad din ha...

**bad driver** · June 30th, 2009 01:27 AM

500k++ bili ko sa extra parking lot ko nung 2001 pa sa condo ko. mura na yang 300k mo.

**beereo** · June 30th, 2009 02:09 AM

I don't think so. Presidential Decree No. 957 or the Subdivision and Condominium Protective Buyer's Decree does not mention anything about overpricing of land. Kindly consider the quoted Supreme Court Decision below with regard to a contract of sale:

The owner of the property for sale has the right to quote his own price, whether reasonable or unreasonable. It is up for the prospective buyer to accept or reject the price so fixed by the owner. The seller may even impose a condition which is hard to fulfill and name a price quite out of proportion to the real value of the thing offered for sale. That is his prerogative in voluntary sales. (Cornejo vs. Calupitan, 87 Phil. 555)

[SIZE=1](The above-quoted paragraph is an excerpt from the Book of Dean Ernesto Pineda, A.A., A.B., LL.B. who is an authority when it comes to the interpretation of the New Civil Code provisions. I'm currently taking up the Law on Sales during this particular semester. I hope this can help.) [/SIZE]

**niky** · June 30th, 2009 12:02 PM

330k for condo parking is cheap. Covered condo parking usually costs between 500k-1m... as it's uncovered, I'd say it's just about right... probably still friggin cheap.

The condo developer has the right to charge whatever the heck they want. If you don't like the price... sell your unit (for a profit, hopefully) and get another one..., but I doubt you could find a decent 32 sqm for under 1m right now... and the parking won't be any cheaper. I don't know of any other condos where you can buy parking for less than 500k.

Hell... we were shopping for condos in Cubao two years ago, and our 1m could only get us a beat-up, second-hand, needs-repair split-level (around 30sqm, pero sobrang sikip kasi split) with no parking. Too bad Avida wasn't open then... that 1m could have got us a nicer 26sqm unit... that would have appreciated over time instead of losing value...