Metro Manila is still considered as one of the hottest property markets in the world according to Knight Frank, with investors drawn to the country’s capital in search of strong rental yields.
In terms of location, Makati continues to stand out. The city remains the country’s most progressive business hub and is home to leading corporations along with startups and entrepreneurs that are tapping into the growing number of innovation centers and co-working facilities.
According to Lamudi, the city of Makati has been considered the Philippines’ leading financial center since the 1970s and is presently one of the most prominent cities in Southeast Asia.
Makati houses over 60,000 commercial and retail establishments, those of which were majorly responsible for the city’s income. Makati is not only a true lifestyle center, with places to spend and do business, but also home to 160 schools, 14 hospitals, 29 schools, 10 places of worship, and nine premier residential communities.
The modes of transportation in Makati are also comprehensive. Residents and visitors can go in, out, or around the city via e-jeepneys and there is also the PNR train station, UV Express vans, and buses with routes coming in or around Makati, and the MRT train stations.
This makes Makati one of the most coveted addresses, with more people and more people wanting to invest in a condo in Makati.
Moreover, there is still a strong demand from renters which makes the city a safer investment destination than other parts of Metro Manila. But before deciding, here are some perks of investing in a condo in Makati.
A Global City
Lamudi also cited that Makati serves as the location of 54 foreign embassies and 34 consulates. Additionally, the city hosts 19 international organizations, including the United Nations, UNICEF, and the UNDP.
The Business Processing Outsourcing (BPO) and Information Technology (IT) sectors have arguably been the leading contributors to foreign investment in the country, and Makati has not been one to be short on BPO offices, with a current total of 274 offices in the city.
The presence of numerous business establishments, consulates and embassies, schools, offices, and medical institutions continues to encourage property investment in the city.
With the city’s development comes the worsening traffic situation which signifies that businesses in Makati are booming and the commercial growth is far from dying down. This has also led more Makati-based employees to live closer to their work and has kept rental rates in Makati stable despite the increase in residential supply resulting from recent project completions.
Costs Remain Competitive
While the city of Makati is considered the most expensive city to be based in, it is still comparatively more affordable than the other major cities in Southeast Asia, making it a preferred choice for foreign-based investors.
In a separate Colliers report, Makati is deemed to be the most viable and preferred choice for property investments in the Philippines, as rental rates in its central business district hovered around Php1,309 per sqm and went as far as around Php1,455 per sqm in 2018.
Now that you have learned more information about the city of Makati, are you considering buying a condo property in the said city? Here are some tips to guide you in buying and investing in a condo in Makati.
Choose a good location
Makati is a big city. The closer a condo project is to the central business district, the more desirable it is and the higher its property value. Ayala Avenue is the center of the country’s financial activity. It is also where many people work.
This is an important consideration for anyone who is planning to invest in a condo in Makati. People living in the city want to be as close as possible to their workplace, as well as the South Luzon Expressway (SLEX), to avoid the daily hassle of heavy traffic and long commute.
This also makes Sen. Gil Puyat Avenue, a key address in Makati since it offers easy accessibility to most places in Makati including the SLEX and the Skyway 3 project. Potential renters appreciate the convenience it provides as compared to other Makati neighborhoods.
Decide and Invest Fast
If you are eyeing an investment condo in Makati, you will need to decide and invest fast. According to Knight Frank, demand for properties comes from expats and local high net worth individuals, who are not afraid to move quickly to secure their investment condo in Makati.
The lack of supply in Makati has caused transaction volumes to decline but led to an increase in home prices. This is why both pre-selling and ready for occupancy condo in Makati are being absorbed quickly, leaving condo buyers and investors little time to act.
Find the right condo project and developer
If you are planning to invest in a condo in Makati, you may want to look at the various condo projects of the 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 is 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.
One of which is the Laureano di Trevi Towers, a three-tower condominium along Don Chino Roces Avenue in Makati. Trevi sits on 5,000. sqm. of prime property on one of Makati's key avenues. With three towers rising to 28, 37, and 24 storeys altogether, it will be home to only about 1,000 residential units as the property opted to allow its residents wider spaces and better security.
Meanwhile, if you are near L.P. Leviste Street, at the center of Salcedo Village, Vista Residences offers Salcedo Square. The location affords the residents an escape from the commotion of work - without being too far from it. It is peppered with cafes and parks that on weekends, become the joggers' haven and Makati's weekend food-and-flea market.
Vista Residences has ready for occupancy condo projects in Manila such as Vista Taft, Vista Heights, Vista GL Taft, 878 Espana, and Crown Tower University Belt. It also has pre selling projects in the said area which include Vista Recto, Plumeria Heights, Tennyson Heights, Bradbury Heights, Sky Arts Manila, and Kizuna Heights.
Meanwhile, its ready for occupancy projects in Quezon City include Wil Tower, the Symphony Towers, Pine Crest, and Vista 309 Katipunan. It also has pre selling condo projects in the said city such as Hawthorne Heights and Vista Pointe.
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.
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.