FOR my Phillipine Readers: Foreclosures bring opportunity

I have not had the opportunity to personally observe what is happening in the Philippines, but have read that the foreclosure market there is bringing great opportunity for housing at reasonable rates.  While some of our local foreclosures in Arizona are 75-150K you can pick up a true bargain in the Philippines  for around 10-30K.  This is not an apple to apples comparison, however, since condominiums and single family housing on a lot are very different apples. 

The Philippine economy is not that much different than the US or UK counterparts in the housing market in that the whole global economy seems to be on the decline.  Until recently the stock market has been doing okay for the Filipinos, so time will tell what happens.  I hope that some of  our friends from overseas will chime in and paint a picture for us.    

Since I am no expert, I have Googled  and found links that might be useful.  Any comments are welcome! 

Philippines Real Estate News: links

Bword online

Barrons report

foreclosured blog

Philstar article  

Philipine marketwatch - weekly 

News report on Globe Asiatique Realty Holdings Corp