It's not unusual to hear people mention that one of their goals is to invest in or purchase a condominium. After all, a condo in the city offers a comfortable and convenient lifestyle as an investment in the Philippines.
One of the smartest ways to generate a steady income is through condominium investment. In the Philippines, real estate investments give you the chance to learn about various asset types that you can also buy and sell.
Due to the chronic traffic problems in Metro Manila, many of the country's top real estate developers compete on the basis of accessibility: a location with close proximity to grocery stores, schools, or at the very least, accessible modes of transportation. With excellent facilities and amenities that highlight the convenience of city living, a prime location becomes even more alluring. For urbanites who want to live close to the action, this tactic makes owning a condo in Manila possible.
Investing in a condo in Metro Manila
In the Philippines, investors have long been drawn to condo units. High-quality construction, enviable locations, and amenities are just a few of the features they offer that are difficult to find in other property types. A real estate investment is indeed a worthwhile investment.
There are a few things to think about when deciding whether or not to invest in a condo. The location is among the most crucial. Is the condo located in a neighborhood that is developing quickly? Is it close to quality hospitals, schools, and other facilities? The size of the unit is another factor to take into account. Will it be sufficient enough to comfortably meet your needs? Don't fret, here's why:
A condo unit is easier to maintain
A real estate owner who live abroad or lead busy lives, condos are a good option because they are less work to maintain than houses. A maintenance team also keeps the entire complex in top condition, which may be advantageous if you're traveling abroad. Finding a plumber to fix a leaky toilet or an electrician to fix bad wiring won't be a problem for you.
It brings convenience and comfort
To reduce the need for people to leave their complexes, many condo developers build communities within them. In Manila, condominium buildings frequently offer their residents a fitness center, a running path, and swimming pools. Some even have child care facilities and playgrounds. An elevator ride will take you to each of these amenities. Home buyers now prioritize amenities above all else, particularly in light of the pandemic. A development with a nice selection of amenities is typically a plus in the real estate market.
Commuting is less hassle
We all know that commuting in Metro Manila is a struggle. Most condominium buildings has a strategic location where people can conveniently go to their work. It isn't just a condo investment but you also invest in the value of your time. Therefore, having a condo investment in Manila is a good investment.
You can make it as your second home
The majority of condos are best suited for young couples, single people, or young people looking for affordable housing options that will allow them to rest avoid inconvenience. In order to increase productivity, people have grown accustomed to renting out small spaces during the workweek.
Using a condo in Manila as a retirement residence is another way to turn it into a second home. You might consider it a reward for returning home if you are an OFW.
Where to invest a condo in Manila?
As a result, condo buyers may think about searching outside of the city center in commercial areas and suburbs like Makati and Quezon City. These areas are among the best in Manila to invest in because they attract businesses, foreigners, and wealthy Filipinos.
Quezon City
The combination of value and convenience in this north Manila suburb draws residents. Many of the areas are well-developed, and the real estate prices here is half as much as a comparable property in the city. Here, you can find a huge two-bedroom apartment for less than $100,000.
From Quezon City, getting to the city center is also fairly simple. You can travel down your street into downtown Manila, for instance, if you reside on Commonwealth Avenue. There is a wide range of developments available in Quezon as well. Many condo options like Madison Place from Vista Residences are near retail establishments, and even IT parks that are available in Eastwood City and comparable communities within walking distance.
Makati
Makati is the only place you need to look if you want to live in a posh neighborhood in the middle of the city. The financial and commercial center of Manila is Makati, which is home to more foreign corporations than any other region of the nation. Both foreigners and locals are drawn to the area by its convenient location, local businesses and upscale lifestyle. Similar units in other Asian CBDs could cost twice as much, three times as much, or even four times.
Additionally, bear in mind that property values in Manila have recently increased, particularly in sought-after areas. In just the past few years, some Makati property owners have seen double-digit appreciation.
Bonifacio Global City
The district of Taguig, which is on the coast, is where Bonifacio Global City (BGC) is situated. BGC is not affected by flooding or other infrastructure problems, in contrast to other areas of Taguig. The high-quality developments in BGC draw tourists, residents, and expats alike, and there are many places to eat, shop, and have fun nearby. However, just like Makati, prices are rising quickly here, so you should invest soon.
Why should you consider real estate investment?
Real estate is one of the best investment options due to its low risk and high return potential. As property values increase over time, it acts as a safety net against inflation. In addition to owning a permanent residence, one of the most crucial factors for horizontal property investors is income generation. Purchasers can increase their alternative income by taking advantage of condos that are well-located—those that are closer to desirable and commercial areas—and by turning owned properties into rental properties.
The sense of pride and accomplishment that comes with home ownership is one of its best features. Owning a home not only makes you feel very proud of yourself, but it also gives you a sense of security. You won't need to be concerned about your landlord increasing your rent or evicting you without warning. You have complete control over your living arrangements when you own your own home. It is a location where you can feel secure and safe. It is something you can transmit from one generation to the next. Your unique home, where you create memories.
Furthermore, Manila is a great place to invest in real estate, especially given how profitable and booming the industry is. Furthermore, real estate investments are a great way to increase your wealth due to the nation's strong economy and ongoing growth.
But there are risks, just like with any investment. When choosing the best property to invest in, it's essential that you have knowledge of what you're doing and consider a number of factors.
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.
