Paseo Heights [30F|res]

[robluat]

Originally Posted by manilaboy2007

Bro,

what is the retail price for this now? Not really comfortable buying from Megaworld yet.

For the 30 sqm studio unit its around 3.6 - 4M including fit outs. Why not?! =D

[Baby_face]

Originally Posted by huanggua

From my experience I learned that sellable projects will have a downpayment of minimum 40%. And this project is such. The balance 60% is manageable if you get them at a good price. To pay less than 2 million at the end of the day to get the keys that yield you a return of 30k a month is a good return on your investment. A 30 sqm unit doesn't fit as a home for a family so the factors that you have mentioned are not material to those who buy as an investment. Investors look for 3 main things - location, location and location.

That's an optimistic assumption; provided it can be rented out at 30k. A couple of years ago, ROI is aproximately 10%. Currently, it has nose-dived to about 7%. Considering the fact that a lot of soon-to-be completed condo developments are coming on-stream; this will exert downward pressure on rental returns. The vacancy rates across metro Manila are on the rise. Lots of owners in MW developments scattered all over Legaspi Village are desperately looking for tenants. Besides, MW developments have typically luxurious, nice-looking lobbies but poor or mediocre finishing in individual units; although in more recent developments there seems to be an improvement in terms of quality due to "intensifying competition".

[robluat]

Originally Posted by huanggua

In fact I am considering taking up the last prime unit on the 7th floor.

Go for it! =D



Anyways i believe Paseo Heights will be a good investment considering other condo projects that will rise in Makati. Its all because of location. Salcedo Village fronting the park will always be considered Prime location. With all the offices in Salcedo and nearby areas, renters will always be there. Makati is makati. Its still the biggest CBD.

[huanggua]

Originally Posted by Baby_face

That's an optimistic assumption; provided it can be rented out at 30k. A couple of years ago, ROI is aproximately 10%. Currently, it has nose-dived to about 7%. Considering the fact that a lot of soon-to-be completed condo developments are coming on-stream; this will exert downward pressure on rental returns. The vacancy rates across metro Manila are on the rise. Lots of owners in MW developments scattered all over Legaspi Village are desperately looking for tenants. Besides, MW developments have typically luxurious, nice-looking lobbies but poor or mediocre finishing in individual units; although in more recent developments there seems to be an improvement in terms of quality due to "intensifying competition".

That's why I said location is important. Maybe your investment in Taguig and Batangas did not go as you have expected. But you need not have to take such a pessimistic view and generalized everything. Unlike BGc and Taguig there aren't many new projects in the centre of Makati CBD.

[huanggua]

Originally Posted by manilaboy2007

Bro,

what is the retail price for this now? Not really comfortable buying from Megaworld yet.

Nice you see you in this forum, bro. What have you decided on?

[huanggua]

Originally Posted by robluat

Go for it! =D



Anyways i believe Paseo Heights will be a good investment considering other condo projects that will rise in Makati. Its all because of location. Salcedo Village fronting the park will always be considered Prime location. With all the offices in Salcedo and nearby areas, renters will always be there. Makati is makati. Its still the biggest CBD.

My Singaporean friend living in Salcedo Village thinks this is a good investment. His company is currently renting a 1 BR for him in Salcedo Village for 35k per month. He told me that carparking charges here is going to go up. That's why I intend to also invest in a car park slot.

[Lorbie]

Originally Posted by huanggua

My Singaporean friend living in Salcedo Village thinks this is a good investment. His company is currently renting a 1 BR for him in Salcedo Village for 35k per month. He told me that carparking charges here is going to go up. That's why I intend to also invest in a car park slot.

Yes, parking is one of the best investments in Makati since there are sooo many people working there.

They even charge street parking. Although you can only park for a maximum of 3 hours.

[manilaboy2007]

Originally Posted by huanggua

Nice you see you in this forum, bro. What have you decided on?

THank to you, I have also join the forum!! I just PM you in another forum what I am getting. The location I think is good and with my young child on the way, it is a prestige district within Makati and good schools around for him/her (don't know the gender yet) to study in future. Pretty safe compare to other parts of Metro Manila too.

I hope my decision is right.

[manilaboy2007]

Originally Posted by Lorbie

Yes, parking is one of the best investments in Makati since there are sooo many people working there.

They even charge street parking. Although you can only park for a maximum of 3 hours.

Care to share what is the average rental per month for Carpark? I have carpark for sale at 895k man. I think it is pretty steep and the agent quote 4k peso per mth for the carpark.

[huanggua]

Originally Posted by Lorbie

Yes, parking is one of the best investments in Makati since there are sooo many people working there.

They even charge street parking. Although you can only park for a maximum of 3 hours.

I took 2 carpark at Signa. Wanted more. But that was all they could offer me.

[huanggua]

Originally Posted by manilaboy2007

THank to you, I have also join the forum!! I just PM you in another forum what I am getting. The location I think is good and with my young child on the way, it is a prestige district within Makati and good schools around for him/her (don't know the gender yet) to study in future. Pretty safe compare to other parts of Metro Manila too.

I hope my decision is right.

A good buy. Congrats.

[saintm]

Originally Posted by pinoyako2010

From Paseo Heights FB Page

Fantastic location!!!!

[huanggua]

Yes. Smack right in the heart of Makati CBD. I like this.

[huanggua]

Originally Posted by manilaboy2007

Care to share what is the average rental per month for Carpark? I have carpark for sale at 895k man. I think it is pretty steep and the agent quote 4k peso per mth for the carpark.

Get the carpark. I won't be surprised if carpark charges are raised to 7k per month. When I took 2 units at Signa I asked for 5 slots but they gave me only 2. They told me that's the best they can do.

[manilaboy2007]

Originally Posted by huanggua

Get the carpark. I won't be surprised if carpark charges are raised to 7k per month. When I took 2 units at Signa I asked for 5 slots but they gave me only 2. They told me that's the best they can do.

If I get the carpark, I will not be able to invest in another studio unit. ...Cash very tight. hehe

[huanggua]

Originally Posted by manilaboy2007

If I get the carpark, I will not be able to invest in another studio unit. ...Cash very tight. hehe

May be easier to rent out the car park alot than the studio. The ROI may be better. There is an acute shortage of carparks in Makati CBD. With impending clearing off of carparks for new projects this situation is go to worsen.

[manilaboy2007]

Originally Posted by huanggua

May be easier to rent out the car park alot than the studio. The ROI may be better. There is an acute shortage of carparks in Makati CBD. With impending clearing off of carparks for new projects this situation is go to worsen.

Thank bro for the advise. Let me consider the option available.

[Baby_face]

Originally Posted by huanggua

Yes. Smack right in the heart of Makati CBD. I like this.

The map is misleading. The heart of Makati CBD is probably somewhere in Legaspi Village, sandwiched in between Ayala Center and Salcedo Village. The recently launched Kroma Tower by Alveo has a better location, with pedestrian walkway linking it to Ayala Center and 20 metres away from Ayala Ave. Anywhere within the CBD is within a 10 min stroll from Kroma Tower.

[bgccondoliving]

Originally Posted by Baby_face

The map is misleading. The heart of Makati CBD is probably somewhere in Legaspi Village, sandwiched in between Ayala Center and Salcedo Village. The recently launched Kroma Tower by Alveo has a better location, with pedestrian walkway linking it to Ayala Center and 20 metres away from Ayala Ave. Anywhere within the CBD is within a 10 min stroll from Kroma Tower.

The map is just right. This is where Paseo Heights is located. Anyways is the area of Kroma Tower still Salcedo Village? not that much familiar but its kinda far already from the location of Paseo Heights.

[bgccondoliving]

Originally Posted by huanggua

May be easier to rent out the car park alot than the studio. The ROI may be better. There is an acute shortage of carparks in Makati CBD. With impending clearing off of carparks for new projects this situation is go to worsen.

Agree with you. Most carparks in Makati are actually owned by developers. In time these will be offices/residential buildings.

I'm renting a 2 Bedroom unit in Salcedo Village. The unit only comes with 1 parking. I'm willing to rent a slot but sadly i can't find any. Very limited parking slots at my building. I have to find parking everyday at the side streets.