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Buying Condo -- still a good investment?

brendastar · 232 · 50914

brendastar

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on: Aug 07, 2014, 03:53 PM
Hello Guys!

Question lang po, how is condo investment currently in the Philippines? I mean, buying condo for rental business? Alam kong dumadami at affordable na rin ang mga condo ngayon sa metro manila, may mga willing pa rin bang magrent? or dahil affordable na ang mga payment scheme people opt to buy or rent to own na lng? Any idea of the type of usual tenants, students or employees,etc?
Nag iisip lang po kc ng passive income  :D kaya ko po naitanong..  :D
« Last Edit: Feb 20, 2019, 02:35 AM by FutureGizmo »


KarlaTan

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Reply #1 on: Aug 07, 2014, 04:29 PM
Hi brendastar! :) For me, condo rental business is still patok. Though condo units in Metro Manila is very affordable already, not all people are willing to invest money for condo. Isang reason nila is, they have other plans for their investment. But i can still assure you na meron paring interested mag rent ng condo and mostly yung ideal tenant na itarget mo are employees  :applause:


brendastar

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Reply #2 on: Aug 07, 2014, 06:14 PM
Hi brendastar! :) For me, condo rental business is still patok. Though condo units in Metro Manila is very affordable already, not all people are willing to invest money for condo. Isang reason nila is, they have other plans for their investment. But i can still assure you na meron paring interested mag rent ng condo and mostly yung ideal tenant na itarget mo are employees  :applause:

hmmm.. +1 for condo. Thanks karlaTan!! But are there employees who can afford to rent  20+25K a month? Db mas wise kung mag rent to own ka na lng, atleast the money will go to the mortgage?


TulogSaPancitan

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Reply #3 on: Aug 08, 2014, 12:15 PM
Location  location location is still the rule. Bought 2 units in  a prime location. Looking forward to either rent it out or sell it. There is a good chance that price will go up in the coming years. Renting is another option. But my advise is that don't buy if you can't pay it in cash and still have other investments rolling. If you are on this stage it means you can afford the risk of condo not giving an income which is a high likelihood due to stiff competition. For me personally,  I don't mind keeping the condo to myself as future home when I return back to PH for good. A good sign that you are readu for this kind of investment if the value of the condo is less than 50% of your net worth. Hope this helps.


GaroKamen

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Reply #4 on: Aug 09, 2014, 05:07 PM
Mas better yung makuha mong condo, mas malapit sa target market mo yung value niya, maganda din ung may value proposition like Transit oriented o Resort type ung project.

Example like ung isang project namin na Pioneer Woodlands, linked na siya sa MRT Boni/ Pioneer station tapat pa ng Robinsons Forum, malapit pa sa Ortigas business district at Pioneer BPO's, and mura lng ung monthly sa PW as low as P8,468.00 lang ung monthly ng studio unit, and para sa mga interested contact me lang po.
« Last Edit: Aug 09, 2014, 05:09 PM by GaroKamen »


DonT

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Reply #5 on: Aug 09, 2014, 06:42 PM
Hi brendastar! :) For me, condo rental business is still patok. Though condo units in Metro Manila is very affordable already, not all people are willing to invest money for condo. Isang reason nila is, they have other plans for their investment. But i can still assure you na meron paring interested mag rent ng condo and mostly yung ideal tenant na itarget mo are employees  :applause:

@brendastar...i hope you noticed the reason why other people prefer to rent..than to invest their money in condo.

If you are after better returns, their are better alternatives.

if you want to get a unbiased opinion, make sure you do not ask the Agents.

But then again, if it is not purely returns, like you really want to have a property in a particular area..go ahead.


gogoypmt

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Reply #6 on: Aug 10, 2014, 09:03 AM
Kung mag invest ka sa Condo for Rental eh dapat maganda location. Malapit sa school o sa mga office. Madami ka din pwede i consider like ung mga babayaran nyo sa condo assoc etc.



mirage23

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Reply #7 on: Aug 10, 2014, 03:42 PM
@brendastar...i hope you noticed the reason why other people prefer to rent..than to invest their money in condo.

If you are after better returns, their are better alternatives.

if you want to get a unbiased opinion, make sure you do not ask the Agents.

But then again, if it is not purely returns, like you really want to have a property in a particular area..go ahead.

There are angels and demons... there are agents and brokers and those focus in selling a certain project only.

I agree with DonT but add ko lang.

There are agents and brokers who handles various projects across various developers.

These sellers are good resources of info. But if someone starts focusing on a project, especially providing sample computation agad... they're not the ones you need... shy away.






mirage23

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Reply #8 on: Aug 10, 2014, 04:05 PM
Hello Guys!

Question lang po, how is condo investment currently in the Philippines? I mean, buying condo for rental business? Alam kong dumadami at affordable na rin ang mga condo ngayon sa metro manila, may mga willing pa rin bang magrent? or dahil affordable na ang mga payment scheme people opt to buy or rent to own na lng? Any idea of the type of usual tenants, students or employees,etc?
Nag iisip lang po kc ng passive income  :D kaya ko po naitanong..  :D

I'm a broker so you would know.

medyo tricky ang condo rental business, as generally offered by my colleagues.

here's an example. if a condo is in a residential area, and the seller markets it as a good investment. the seller meant good for personal use. but if being marketed as a rental unit, due diligence is needed on your part. baka abutin ng ilang weeks or months bago mo mapaupahan. On my end, I will not offer that.

whenever a client ask me for a condo investment for rental purposes. I usually ask which target market they prefer? working class, students, etc.

agents who are tied up to sell a focus property, will find it hard to ask a buyer which location they prefer kasi it will defeat what they are selling. instead will market all the good thing about the property till you're convince.

on my part and others who are freelance and sells various projects, it is not a problem because whichever location the buyer needs, we can still support.

may mga willing pa rin bang magrent? - actually, they are force by will to rent due to accessiblity and convenience to work and school.




jelvaelrio

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Reply #9 on: Aug 13, 2014, 12:06 PM
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
-Franklin D. Roosevelt

Just thought of sharing this to you. :) Actually, it's a smart move to invest in a condo but you got to be strategic. :) first I think you find a deal wherein you invest less then you'll get more. A good example is investing on pre-selling condo because definitely this is much affordable than those units ready for occupancy. Second, you look into location. Location can definitely make or break your investment move. Given that there are lots of affordable condo in manila nowadays but the question is: are they in the best location for investment? Consider your market- are there people around the location who has the need and might get interested to rent or buy a condo in that location? Also consider the future trend of that location- is it going to be progressive? are there going to be future property developments on that area? cause this will surely affect your future income.

This is my opinion :)

PS: Actually, investing on a condo and renting it out is a good retirement plan for me  :D


gang13

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Reply #10 on: Aug 30, 2014, 12:49 AM
Ask ko lang, sa mga may experience na mag invest sa condos. If u buy the condo and have it rented out. How long is the usual ROI?
Saka in case one day ma demolish na ang building after many decades, totally nawala na ang ownership?


kat_kat

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Reply #11 on: Oct 24, 2014, 09:22 PM
Hi brendastar! :) For me, condo rental business is still patok. Though condo units in Metro Manila is very affordable already, not all people are willing to invest money for condo. Isang reason nila is, they have other plans for their investment. But i can still assure you na meron paring interested mag rent ng condo and mostly yung ideal tenant na itarget mo are employees  :applause:

Agree. Marami parin ang may second thoughts kapag sinasabi na condo can be an investment


agent_mango

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Reply #12 on: Oct 24, 2014, 09:46 PM
Ask ko lang, sa mga may experience na mag invest sa condos. If u buy the condo and have it rented out. How long is the usual ROI?
Saka in case one day ma demolish na ang building after many decades, totally nawala na ang ownership?

Depende po sa developer. Meron po yung perpetual ownership na inoofer sa isang project. Correct me if I'm wrong. Nabasa ko lang hehe. Just like Megaworld and DMCI Homes. I don't know sa ibang developers.


pulubing_palaboy

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Reply #13 on: Oct 24, 2014, 11:25 PM
Ask ko lang, sa mga may experience na mag invest sa condos. If u buy the condo and have it rented out. How long is the usual ROI?
Saka in case one day ma demolish na ang building after many decades, totally nawala na ang ownership?
i paid cash for my condo in 2007. it was turned over to me in 2009. i could sell it right now for about twice of what i paid.

on top of that, i paid in 2007 in $$$ with a 56:1 exchange rate. now, the rate is about 45:1. so that's another 20% additional profit.

since 2009, i've had it rented. rental income so far is over P3M.

why would the condo building be completely demolished? our condo buildings are insured for replacement value. insurance is continually reviewed to ensure sufficient coverage. furthermore, i own a proportional amount relative to the value of the land and the size of my condo.


Fastlane_dude

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Reply #14 on: Oct 25, 2014, 01:23 AM
Ask ko lang, sa mga may experience na mag invest sa condos. If u buy the condo and have it rented out. How long is the usual ROI?
Saka in case one day ma demolish na ang building after many decades, totally nawala na ang ownership?

Based on my experience its 5 to 10 years, but remember, if the location is prime, the value of the property will also shoot up annually. So youre basically getting income + increased value. I'm talking about prime CBDs like BGC, Makati ayala triagle,  & Rockwell. Also, wag mag alala about the 100 years demolished hooka thing etc! When that day arrives( if ur still alive) CCTs will give you Proof of ownership whether the condo corp decided to sell or re -build it. You will never lose a pie of ownership that you can pass on.
« Last Edit: Oct 25, 2014, 01:29 AM by Fastlane_dude »


 


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