The price difference in the Philippines

We stayed in makati (intercontenetal) and had dinner at the Havana bar. It was nice it must be said. The wife on the way back to thew hotel declared she wanted some Hagen daz ice cream from their shop just round the corner. We got 2 small pots and it was about 7 quid!!!! Couldn't believe it.

I do believe inflation in the phils is about 5% at the moment isn't it. On the whole in the last 6 or so years I think prices have gone up by about 40% for us taking into account the crap exchange rate as well. Also the prices / economy are affected by the major players in the far east like china, japan and to an extent india I suppose. The philipines get the bleed off from them. That is the way I understand things anyway, I could of course be well wide of the mark. This will continue on this trend unless the pound recovers soon. The philippines is not the cheap alternative it once was unfortunately.

We have a house in Manila but don't stay too often these days for one simple reason, Manila prices.
Eating out at the Malls is likely to be more expensive per person than UK.

Cost of living in the province is much less but still increasing at similar levels.

Manila prices are relatively high.

Decent meal for one: Around P150. (Big Mac Meal = P150)
Taxi ride, for about 10kms (average traffic, and honest driver!): Around P100-150
Parking rates range from: Around P40 for first hour, P10 for every succeeding hours, Flat Rates P40-P50.
A (male) no frills haircut: Around P100
Cinema movie: Around P150
Current Gas prices: Around P42 a litre (Diesel). Around P46 a litre (Petrol).

I enjoyed PHP 99 to a £1 when we were building our PI home. (76 = £1 when we finished building)
To-day 66 peso = £1. The build cost to-day would be double. Our UK home is worth 30% less than it was 4 years ago.
The steel, electrics & electronics were almost 1/2 what they are now.
In 8 years PI prices have rocketed, in Manila & Cebu, but then some supermarket food items have doubled in price in UK in tha last 5 years.
We bought a Panasonic LCD TV in UK and same size model in PI in 2007. Same price.! Now the price for it in PI is the same for the same offering but in UK the price has gone down by 50% and a 10'' larger screen is only a few quid more.?.
A Honda generator is the same price in Pakistan as in PI which is about the same as the UK discounted price.
Our 7 year old Chinese dieser 6.5 Kv is in need of need bits and will be refurbished when we get there. I had thought of replacing it with a new Honda.
I look at the "once only" ? items TV/HiFi/White goods as the same as UK prices. ALL the other necessities are much lower prices in the PI Provences. IMEx
If one can avoid Western foods/imports then PI grocery basket is much lower in price.
We estimate our living costs in PI = utilities, food and entertainment will be 1/2 the UK price we now pay.
The worry is the eXchange rate in the future.

It IS the FREE items in PI that are glorious for me and these items are what my PI pal's "Xpats" love about the Country.
Warmth - the climate and the people.
Genuine smiles - not the €Ladies false "she has got wind" smarmy smirk's.
Glorious scenery and beaches.
++++++ Plus... IMO

In UK and we are expecting SNOW.! YUK.... I hate the cold.
All I want for Christmas is "Warm rain".

Tom

That may be the rate quoted on web sites but I can assure you that the local banks are offering a lower rate than that: currently PHP61 although HSBC's Premier rate is a little better at 62.5. In 2007 I could get 98 locally without too much trouble.

At least double! A bag of cement is around 57 Pesos currently (for Holcim, Chinese cement is a bit cheaper but of dubious quality) and the cost of constructional grade timber has risen by 500% over the last 2 years due to a country-wide logging ban following a fatal accident. Decent quality 3 core electrical cable, "Romex" brand (equivalent to 2.5mm twin + earth) is currently 20 Pesos per metre or 30 Pesos for 3.5mm T+E.

Interesting, I've just received a valuation for my home in southwest Wales and whilst it did drop considerably in value for a time, it's currently worth a bit more than it was in 2007.

I've bad news for you, Tom. The President is about to sign into law the so-called "Sin Tax" Bill which will cause a hike in prices for all alcoholic beverages and tobacco products with imports being taxed at a higher rate than those produced domestically. I'm told that this new tax will also apply to all forms of live entertainment and will be in addition to local "Sin Taxes" already imposed in several cities, Cebu being one.

The Peso is held at an artificially high level by BSP to maximise the amount of foreign currency the country earns from remittances and that's set to continue in our disfavour.

Enlightning thread, gentlemen. I guess it is very easy to blindly go zipping off to the Philippines for retirement but there is much to think about. I know we can't predict the future, but it would seem that current trends and all known factors need to be taken into account, where possible.

Yes John,

And then some.!

We had thought of moving to Spain on the Atlantic coast. A truly wonderful place and great nature reserves near-by. Local food and seafood is also excellent and cheaper than UK.

I have posted this finding elswhere. The "slump" has wiped the smiles and the only real interest by locals is "hungry eyes" willing to snatch from tourists.
Winter sees the resort's CLOSED and that means ALL the shops. The eXpat beach bar/restaurant owners leave for 3 or 4 months.

All my research was worth zilch until we saw for ourselves.
Unemployment @ 30% in the 20-35 age group and Red X food parcel deliveries to the town by RedX truck's.???

Tom

Quote Originally Posted by SINGERS
I enjoyed PHP 99 to a £1 when we were building our PI home. (76 = £1 when we finished building)
To-day 66 peso = £1.

1 =
I never take much cash but use ATM’s & an Agency for larger amounts. This I will review.

2 =
We have a small “project” in mind.
BUT Bro-in-Law is a Gov. Engineer which helps

3 =
Yes Wales is “holding it’s own.”
We'r not thinking of selling in UK and Tex has found a tenant. :angel:

4 =
I never look for imported anything. I did the first few times I visited PI but the quality of imported meat was appalling. I am content with the local fair as cooked by "Tex the Chef" or else I go hungry.

SMB & Red Kicker on occassions and I am happy to drink Tuba neat or with Coke.vamp: cheapskate as wot I is.

5 =
Can’t win them all - but try to.

Ta,

Fruit & veg & most meat from Fathers farm, fish from the local wet marker @ 06.00 Hr. or straight off the boat.
Chicken, beer and tuba from a Bro-in-Law the rice miller/trader/barterer in our BRGY.:amen:

Tom

This




Will now be a Mitzoosomatochy...
from hils:
but made where.?