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Yep, you read that right: BIR recently dropped some Zonal Value updates, and based on our calculations it went up by at most 184%! It sounds crazy, right? Well, it's not if you punch the numbers.
We couldn't believe it until we took a look at the documents ourselves. So far we've gone through both the Cubao and South Quezon City ones, and those two alone show a big gap between zonal values. To be fair, the last update is a good 4 to 5 years ago so it makes sense that there is a jump. While most of them range from around 30 to 70% of an increase, a number of them see as much as doubling in their value!
This sudden spike has caught many property owners off guard and has sparked discussions within the real estate community. It will be interesting to see how this will impact the market moving forward. But just to give you an idea, here are some of the highlights from both Cubao and South Quezon City areas:
It's quite insane! Now I'm sure you're wondering if your area was hit by this zonal value increase, so to satisfy your curiosity we compiled the current and future RDO documents here.
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