CREBAChronicle T he Of f icial Newletter of the Chamber of Real Estate & Builder’s Associations, Inc. www.creba.ph 3rd Quarter 2015 WHAT’S INSIDE: Manila takes centerstage CREBA Chapters: with International In Photos Realtor Conference “Bahay ko, Buhay ko” A HOME FOR EVERY FILIPINO: The National Housing and The Dream Goes On Urban Development Summit CREBA intensif ies PLUS: pursuit of solving Other Real Estate and PH housing challenges Housing Industry Updates 3RD QUARTER 2015 | CREBA CHRONICLE 1 CREBAChronicle 2 CREBA CHRONICLE | 3RD QUARTER 2015 CREBAEditorialChronicle THE PAST MONTH CONCLUDED WITH A GREAT BANG AS CREBA HOSTED a milestone event that will be long remembered for its great achievements. The choice of holding of the first International REALTOR® Conference in Manila comes as a huge opportunity and challenge for our sector. While striving to be at par with the best in the world, we aim to adhere to global standards of practice and ethics and provide the mechanism for education, information exchange and networking resources to foster business at a global perspective. CREBA is likewise embarking on an Annual National Convention themed “A Home for Filipino: The Dream Goes On,” a manifestation of its relentless commitment to make housing accessible for all. Possibilities for continuing investment in tourism development as well as business process outsourcing remain very strong. Housing, especially for the low and middle income groups, should continue to be very much in demand and enjoy the financing resources that are available from government funders as well as the commercial banks. As we add more years to our history as an organization, it becomes even more gratifying to note the major role we have played in the industry’s growth. The members, therefore, of our Chamber, in their individual fields, have their work cut out for them. We encourage them to share these possibilities with other stakeholders in the country who may be experiencing special challenges at this time. Happy reading, fellow CREBANS! MS. ROSEMARIE C. BASA Public Relations Officer Contents 2 Manila takes center stage, 16 News CREBA hosts international property conference 20 Chapter Events 22 Philippine Property Awards 23 Monthly Business Meetings MOPC Chief at 8th CREBA Why Bacolod? 9 Monthly Meet 11 HLURB Chief at CREBA Laguna meet 4 FVR keynotes international 12 Realty finance, realtors confab, July 30 investments, and tax concerns at CREBA-La Salle program 6 A Home for Every Filipino: 26 The National Housing The Dream Goes on… Summit 13 Developers’ Group seeks changes to RESA Law 8 CREBA intensifies pursuit 28 Snapshots from the of solving Ph housing International Realtor® New Members 2015 challenges 14 Conference 3RD QUARTER 2015 | CREBA CHRONICLE 1 CREBAChronicle From the President’s Pen MR. NOEL TOTI M. CARIÑO CREBA National President Manila takes center stage, CREBA hosts international property conference Former Philippine President Fidel V. Ramos was the Keynote Speaker at the International REALTORS® Conference hosted by the largest local real estate group, CREBA in partnership with the National Association of REALTORS® (NAR-USA). Shown in photo are leaders of CREBA including Charlie A. V. Gorayeb, national chairman (L-R) and Noel Toti M. Carino, national president, with world leaders of NAR including William Brown, 2017 President; Shonee Henry, regional coordinator for Asia-Pacific; Jennifer Tasto, NAR envoy to the Philippines; and Mike McGrew, NAR treasurer. THE PHILIPPINES IS CURRENTLY Revenues from the real estate rate among various industries in a booming destination for investors industry have been growing the country. With the increasing who want to purchase or build annually since the last five years, spending power of the middle class, real estate properties and take hence, there is no doubt that the a strong and aggressive banking advantage of the country’s property sector shall have the sector, a stable homebuyers market, growing economy. crown of having the fastest growth plus billions in remittances from 2 CREBA CHRONICLE | 3RD QUARTER 2015 CREBAChronicle abroad, we see no end in sight for the industry’s flourishing growth. Together, CREBA and NAR bring the With the country’s participation in the ASEAN Economic Community CIPS brand to Manila for the third time beginning this year, more real estate investments from all over Southeast Asia are expected to pour into to prepare licensed brokers, appraisers, the Philippines. This economic upturn and consultants, and other professionals integration motivated the National Association Realtors® (NAR) to conduct the first-ever International in taking full advantage of available REALTORS® Conference and Regional Leadership Summit outside international opportunities. of the United States. The event, held at the City of Dreams Manila from July 28 to 30, was organized Philippines’ potential as a prime real Conference. The three-day event through the NAR’s exclusive bilateral estate destination. featured a REALTORS® Expo, where partner in the Philippines, the Indeed, it is high time for the buyers and sellers talked about Chamber of Real Estate and Builders’ Philippines to show its true promise. viable real estate investments and Associations, Inc. (CREBA). For a long time, we’ve been lagging growing their business; certification The two organizations have long behind other countries, but now courses for E-Pro, an online real been good partners in developing we are developing with leaps estate sales software; insightful talks the practice of real estate sales in and bounds. from industry experts from Asia and the country. CREBA stands as the Currently, the Philippines the Pacific; and tours around Manila. foremost organization in real estate is number two in Asia in terms An added feature was the pre- and housing in the Philippines, of growth. It has very solid conference Certified International while NAR is the global organization fundamentals regarding revenues, a Property Specialist (CIPS) designation of more than 1.1 million strong BPO base, and receives large course to be held from July 21 to 25. professionals that provides its overseas remittances annually. Several factors can hinder in closing partner organizations the necessary In 2014, BSP figures report that major deals: language barriers, education in industry ethics and remittances from the 10.5 Million changes in currency exchange rates, global professional accreditation. Filipinos working and residing acquiring financing, understanding For the International REALTORS® abroad hit an all-time high of foreign transactions and differences Conference and Regional Leadership $26.93 Billion. Despite a growing in laws and practices. Hence, Summit, CREBA and NAR gathered population of around 100 million, education and information are key. real estate industry leaders and it still has so much land waiting to Together, CREBA and NAR practitioners from all over Asia be developed. bring the CIPS brand to Manila for and the Middle East. It provided Local and foreign REALTORS® the third time to prepare licensed a wonderful chance for the local speak of good business and brokers, appraisers, consultants, real estate industry to show off the meaningful experiences at the and other professionals in taking full advantage of available international opportunities. This global convergence brought the best, and the “who’s Currently, the Philippines is number two who” in the real estate profession from all over the world, together in Asia in terms of growth. It has very in one venue. It sought to move the real estate sector forward to new frontiers by keeping in step solid fundamentals regarding revenues, with current world-class trends and challenges through industry updates, a strong BPO base, and receives large information, technical know-how, modern marketing tools, linkages overseas remittances annually. and business opportunities. 3RD QUARTER 2015 | CREBA CHRONICLE 3 CREBAChronicle FVR keynotes international realtors confab, July 30 FORMER PHILIPPINE PRESIDENT energy, he pursued, focused and Fidel V. Ramos led the roster of converged programs to fight poverty. power-house local and global From 1993 to 1997, the speakers at the International Philippine economy recovered REALTOR® Conference held at the dramatically and a comprehensive City of Dreams Grand Ballroom in Social Reform Agenda (SRA) Parañaque City from July 28-30, addressed long-standing problems Former Philippine President 2015 which gathered more than regarding poverty, health, education Fidel V. Ramos 300 property industry leaders from and skills training, housing, across the globe, particularly the environmental protection, children the “Asian Davos” with the former United States of America and all over and the youth, the elderly and the prime ministers of Australia and Asia, who are affiliated with the 1.1 handicapped, jobs and livelihood, Japan. Boao inherits its name from million-strong Chicago-based National agrarian reform and access to equal a Chinese town in Hainan province Association of REALTORS® (NAR). opportunity. His public service which has been the site for its The Conference was hosted locally spanned a total period of 51 years. annual conference since 2002. The by the Chamber of Real Estate and Ever the international diplomat Forum is committed to promoting Builders’ Associations, Inc. (CREBA). and Philippine cheerleader, he regional economic integration and President Ramos is the 12th personally interacts with many in bringing Asian countries closer to President