Progressive Village Lot Property

After a month of hectic negotiations, I finally closed the deal on the 360 square meters lot property located in Progressive Village. This is approximately two kilometers away from my current apartment project. The owner was previously asking for P3,500 per square meters but I was able to lower down to 2778/sqm… of which will cost my wallet an even P1M. Good thing no there is no real estate agent involved.

I noticed that lot property prices around this city varies so much that if you are not careful in doing your homework well, could drive you nuts. As a matter of fact, there is just this neighbor of that said property who is unknowingly selling their 180 sqm lot for P900k. Added to this, just two months ago my sister purchased a 180 sqm lot for P830k in Celestino area. That’s P4,400/sqm! Way up from the current zonal values! You may find your areas zonal values thru this Bureau of Internal Revenue link.

For now, my plan is to hold on to this property and see if I can sell for a higher profit. Divide this lot into two and sell the other half to my sister. My third option is put up another apartment project. Oh well….