QUESTION: Sir John, what is the field in real estate in the Philippines that is neglected by the real estate brokers and developers?
ANSWER: Most Realtors want to convert idle lands to residential land. No one sees the opportunities in synergizing joint ventures that will convert those idle agricultural lands to super-systematic farms.
We expect escalating threats of global food shortages because of the following reasons:
1. Government slack in irrigation and electricity distribution projects,
2. There is no wealth in agriculture business,
3. Heirs of farmers don't want to be farmers,
4. Cost of inputs are profiteering, but price of output is suppressed by government policies,
5. Buying food is cheaper than planting food,
6. Farmers are perceived as low-class citizens,
7. Idle lands are not sanctioned by government,
8. Real estate speculation and hoarding,
9. Endless Landlord-Tenant disputes,
10. Agricultural land ownership disputes,
11. Climate change resulting to floods, typhoons, drought,
12. Lack of advocacy in backyard vegetable farming, etc etc
Yet, there is hope because if you ask everyone about the retirement life they imagine, they would say they want a simple and peaceful life in a farm or a ranch where they can reunite with nature and fresh air.