The pandemic has taught us to check our priorities, save, and invest. It also made us realize the importance of preparing for a more secure future that would save us in times of crisis.
There have been a lot of discussions on condo investment and the risk of investing in real estate properties especially in this time of pandemic.
While there has been a slowdown on real estate property purchases this pandemic, with some people holding off on their buying decisions, there are still others who see the value of investing in condominium units.
According to most property developers, condo sales are not as bad amid the pandemic. There are still investors who are purchasing ready for occupancy and pre selling condominium units, especially those with features and amenities that cater to the new normal. This only shows that condos are still an attractive investment despite the crisis.
If you are considering investing in a property, especially one that is targeted towards security, safety, and convenience, you would have already asked yourself if it is still good to buy a condo in this time of pandemic.
Condominiums are popular for their strategic locations that are near schools, and workplaces, but there are still a lot of factors to consider why it is still best to invest in a condo even after a pandemic.
Here are some of the reasons why you should stillinvest in a condo amid the pandemic.
Accessibility and Convenience
The pandemic has made a lot of people become conscious of their access to everyday essentials. The nearer their place of residence is to supermarkets, banks, cafes, and other establishments, the more convenient and safe it is for them. After all, it does not require them to travel far, be out for too long, and be exposed to the virus.
Accessibility to key establishments is one of the benefits of condo living. These key establishments are usually walkable and are within 5-10-minute walk from the condo development. In fact, there are condominiums with convenience stores, restaurants, or cafes at the ground floor of their buildings, which is advantageous to the residents especially in this time of health crisis.
When looking at a property to invest in this pandemic, a condominium is still a good choice, especially when you want to live in a place that is surrounded by the things that you need to survive this quarantine.
Hands-on Property Management Team
Another benefit of condo living is property management services. A lot of condo residents are more grateful than ever with their proactive and hands-on property management teams that ensure their safety through strict implementation of safety protocols within their buildings.
It can be seen that property management teams have upped their game in maintaining the condo building premises through standard health protocols such as temperature checks at the condo building premises, physical distancing in shared areas such as the lobby, elevators, and hallways, wearing of mask within the condo building premises, disinfection stations at the front desk and near elevators, and regular cleaning and sanitizing of common areas.
Additionally, the property management team also attends to the concerns of the condo residents. Aside from the usual bulletin board announcements, they are now implementing contactless solutions such as online news portals, group chats, QR codes, which the residents can easily access for updates, booking of amenities, and other concerns. Some have also introduced digital payment options to settle condo association fees.
More Affordable Property Ownership
Condos were considered by many as a more affordable option for property ownership even before the pandemic. Even young professionals can get their own condo unit given its price tag. That is why condominiums are seen as a good investment especially to individuals who are becoming conscious of where their money goes and how they grow their money.
With this pandemic, most developers have become more flexible too in what they offer. Promising deals, big discounts, and other promotions flood the market. There are some that offer early move-in programs, others rent-to-own schemes, giving buyers a better and easier option to own a property.
Moreover, the government is also offering financial assistance programs for those who are aspiring to own a property. PAG-IBIG members, for example, are given the opportunity to avail of lower interest rates for home loans.
Despite the pandemic, now is still the best time to invest in a condo property. Imagine how you can easily own a property, enjoy great deals, and watch its value appreciate gradually over time. According to financial experts, it is best to look for new condo projects and those that are in the pre-selling stage to save more on the purchase. Remember that real estate properties like a condominium, regardless of the economic condition, will continue to increase its value over time.
Predictable Cash Flow, Lower Investment Risk
Condominium investments can yield predictable cash flow because of the various business opportunities they offer.
Owning a condominium can enable you to start your own rental business by leasing it out for residential or business purposes or you can also gain a profit by liquidating it after a few years. As with any other properties, condo investment entails risk, but lower than other properties.
Can be Leveraged as It Appreciate in Value
One of the strategies that you can explore to secure your investment is through leverage, which involves borrowed capital, that increases its possible return of investment later on. This will benefit you a lot especially when real estate value rises.
Provides Equity Buildup
Most of the time, condos are purchased not just with cash but through loans. By paying off your loan, you are able to build up your equity, which is beneficial to you as the owner.
Coincides with Retirement
Condominiums, just like any other properties are a good retirement investment. If you are facing retirement or preparing for it, a condominium investment can be a good source of retirement income.
Investing in condominiums is also a good way to diversify your portfolio, an asset class that you can enjoy aside from stocks and bonds.
Has Lower Tax Rate While Developers Offer Huge Discounts
If you are to choose between a house and a condo, there is definitely a lower tax rate on the latter. What’s even more advantageous is that condo developers nowadays offer huge discounts and flexible payment terms especially for pre-selling condo projects. Purchasing a unit during this period is a good condo investment strategy.
Tips on Investing in a Condominium
There are pros and cons of buying and investing in a condominium but the advantages outweigh the disadvantages especially after the pandemic. Here are some tips on how to go about condominium investing.
Choose a good location
Location, location, location is everything in real estate. Choosing a good location is your first step toward condominium investing. Your constant stream of tenants as well as rental income depend on how strategic your location is.
You should remember to invest in a location that is in close proximity to transportation hubs, those with essential amenities and key establishments such as restaurants, convenience stores, and shopping centers.
Purchase a Property at Below Replacement Cost
If you are an investor, you may consider a condo a good investment when budgeting is required. You should be able to look into properly pricing rentals, which should not be lower than the market value.
Look for Condo Leases with Longer Lock-ins
Condo investment can be more seamless if you look for units that require longer lock-ins. Condos, where tenants have already invested in the fit-outs and rented the unit for quite some time have lower projections of vacating it.
Explore Yearly Escalation on Signing Leases
As a real estate business owner, you have to be smart about your property venture. Leases usually escalate up to 15% every 3 years, which can be high for tenants. So, insteads of applying the huge increase in rental rate after 3 years, why not have them sign leases with yearly escalations of 5% so that it can be beneficial to both parties.
Purchase only from a trusted developer
One of the challenges that you may encounter when investing in a condominium is the quality of the property alongside the reputation of the developer. Most of the time, these factors affect the possibility of having the units rented. In order to alleviate these, invest in a condo property from a trusted and reputable developer.
Now that you have learned about these tips, do you think a condo is worth the investment? Definitely. If you are looking to invest in a condominium, you may want to look at the various condominium projects of top property developer, Vista Residences.
Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc., which offers ready for occupancy and pre-selling condominium projects in Manila and Quezon City that are strategically located within inner-city areas, in close proximity to premium universities and developed business districts.
At Vista Residences, unit owners can take advantage of the property’s centrality. The properties of Vista Residences are strategically located near the country’s premium universities and CBDs, making them an attractive investment for both local and foreign investors.
Living in Vista Residences enables you to enjoy convenience, where everything is pretty much within walking distance or a few minutes away from the property; comfort because the project features and amenities are designed to deliver comfort at all times, which makes condo living a worthy investment; security that is 24/7 and CCTV monitoring, which makes the residents safe and secure within the property.
In line with Vista Residences’ thrust to offer convenience among its residents, it also features an AllDay Convenience Store and Coffee Project in all its projects.
Meanwhile, the ready for occupancy condo projects of Vista Residences that you may consider investing into are Pine Crest, The Symphony Towers, and Wil Tower.
Pine Crest
Pine Crest is a condominium development that offers the luxury of living in a serene, green, and secure community while still having access to the comforts of the metro.
It features three mid to low-rise towers in a Swiss-inspired enclave tucked in the serene neighborhood of New Manila in Quezon City. Towers 1 and 2 consist of 5-storeys while Tower 3 is a 15-storey structure. Each of the towers is named after the famous Swiss cities Geneva, Zurich, and Lucerne.
The units in Pine Crest are fitted with a balcony, which offers a serene view of the verdant landscape surrounding the area. At Pine Crest, you can enjoy the fresh and crisp morning air with your cup of coffee or have a glass of wine, feeling the cool nighttime breeze as you wind down from your busy day.
Nestled along main thoroughfares – Aurora Boulevard and Gilmore and E. Rodriguez Avenues, Pine Crest is very accessible as it is just a 5-minute walk from Betty Go-Belmonte and Gilmore LRT stations, which makes it an easy train ride away from Metro Manila’s University Belt.
Pine Crest sits right beside Robinsons Magnolia and is also just a few minutes away from Greenhills Shopping Center, Ortigas Business Center, and Tomas Morato, where a whole range of lifestyle activities as well as a multitude of retail and dining establishments are located. Pine Crest is also in close proximity to educational institutions such as St. Paul University Quezon City and University of the East Ramon Magsaysay Memorial Medical Center, Inc. as well as premier medical facilities such as St. Luke’s Medical Center and Cardinal Santos Medical Center.
The Symphony Towers
Bringing a whole new groove and beat to city living is The Symphony Towers which is located along Sgt. Esguerra avenue corner Timog avenue in Quezon City.
The Symphony Towers is a two-tower condominium development that offers exclusive residences as well as commercial and business establishments. Two floors in each tower are dedicated to offices while the remaining floors are allotted for residences complete with amenities and a roof deck that offers the best view of the city.
As it sits in the middle of Quezon City, The Symphony Towers is just a few minutes away from the country’s largest TV networks such as GMA 7 and ABS-CBN, transport hubs such as GMA-Kamuning MRT station and some of the most prominent schools in the metro such as the University of the Philippines, Ateneo de Manila University, and Miriam College, among others.
Wil Tower
Located a few minutes away from The Symphony Towers and just across ABS-CBN, along Eugenio Lopez Drive, Diliman is Wil Tower, a 42-storey condominium development that offers an ideal urban sanctuary in the city.
Wil Tower offers well-thought out features and amenities as well as exclusive residential units that will let you experience comfort and style in urban living. At Wil Tower, you can lounge in the pool, enjoy sauna, try al fresco dining, shop for amazing home décor at AllHome or simply hit the gym – all without leaving the comforts of your own condo unit.
Vista Residences also offers leasing services that would benefit both end-users and investors who aspire to turn their purchases into working investments.
Vista Residences is part of Vista Land’s roster of vertical housing brands that cater to millennials and young professionals. The other vertical brands include Camella Manors, COHO, and Crown Asia.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.
