Investing in Real Estate in the Philippines

[3cr]

Originally Posted by rmb

Hey any suggestions for a condo? My aunt is planning to buy a unit. She pefers near the airport such as in fort bonifacio or makati or pasay. Inexpensive and far from pollution. Thanx.

rmb,
Dvorak was asking what's your aunt's budget and how big (SQM and the number of bedrooms) the unit will be? Please also ask when she wants to take possession of the unit because this will determine whether its going to be an existing building (unit resale) or a new/UC building (pre-sell). Ask her also for any wish lists she may have. We will be able to assist you better once she is able to answer these questions. We look forward to hearing back from you.
Best Regards,
3cr

[Dvorak]

real property tax is almost the same in all cities here in metro manila..

Originally Posted by rocky-j

hi guys, am new here. my two cents.... avoid makati, people told me that the property tax is astronomical. ortigas is not a bad idea. my friend just bought a one bedroom in a fairly new building for less than 3m.

[rmb]

Originally Posted by 3cr

rmb,
Dvorak was asking what's your aunt's budget and how big (SQM and the number of bedrooms) the unit will be? Please also ask when she wants to take possession of the unit because this will determine whether its going to be an existing building (unit resale) or a new/UC building (pre-sell). Ask her also for any wish lists she may have. We will be able to assist you better once she is able to answer these questions. We look forward to hearing back from you.
Best Regards,
3cr

Ok thanx. Ill ask her muna

[bustero]

makati, ortigas, fort, similar polution levels, you'll need to go all the way to alabang and beyond to get better air

[rocky-j]

Originally Posted by Dvorak

real property tax is almost the same in all cities here in metro manila..

thanks for the info. for some reason, people are saying it's very expensive to have a property in makati.

[3cr]

Rocky,
It's got to do with location visavis the Price/SQM of the said area. Mas mahal sa Makati and FBGC because the price/sqm is also quite high. The property tax is then computed as a percentage of the purchase price so that is also why it comes out more expensive as well. You do get more for your money in Ortigas since most of the developments there have a lower price/sqm than Makati or FBGC. Hope this helps.

[rocky-j]

Originally Posted by 3cr

Rocky,
It's got to do with location visavis the Price/SQM of the said area. Mas mahal sa Makati and FBGC because the price/sqm is also quite high. The property tax is then computed as a percentage of the purchase price so that is also why it comes out more expensive as well. You do get more for your money in Ortigas since most of the developments there have a lower price/sqm than Makati or FBGC. Hope this helps.

that's right. and other than the tax, the association fee will be more expensive too.

[cusket]

Originally Posted by bustero

makati, ortigas, fort, similar polution levels, you'll need to go all the way to alabang and beyond to get better air

I'm considering buying into a condo in Fort, Ortigas, or Eastwood. Makati is too dense in my estimation and as a result the vehicle exhaust is entrapped between buildings causing a canyon like effect. Is Fort really similar in terms of pollution levels? Alabang sounds intriguing, what is the prime residential condo there?

[bustero]

ADB did a study on air environment for their expats. Basically you are correct that Makati is worse than the fort, but all of these are unacceptable in air pollution.So it's like saying one area has very ugly and the other one is very very ugly! The area where it STARTS to get acceptable for them is Alabang and beyond. There are not very many condo's in Alabang yet though. In fact I don't remember anything new in that area. They are restarting an old project and calling it Mondrian. The others here may have a better idea.

[driftwood]

1. Is investing in Philippine real estate a good idea?
2. If so, would you pick condos, lots, townhouses, house/lot, etc.?
3. Where's a good area in and around Metro Manila?
4. Any particular projects you would recommend?

I'm curious to know what you guys think. I'm sure there has to be a lot of real estate-savvy people in this forum.

[paulkrps]

can't talk much about what my sister is feeding me. nothing much is happening in davao real estate wise.

would love to invest on those waterfront and hilly/rolling lots (like mati in davao oriental). i'm into vistas and would be more interested in forested places (like bukidnon). if i were to invest, probably would go for areas that are familiar to you.

[Espma]

I dream of retiring one day in a secluded island somewhere in the Philippines, that or a beach front maybe Batangas?!

What are your opinions about buying an island in the Philippines?!!!!

[rmb]

Here's what my aunt wants:

Nothing fancy...2 bedrooms...small kitchen...a place conveniently located near US embassy and airport...no flooding...any suggestions?

[tigidig14]

u can buy an island in the philippines

[3cr]

How soon does she want to use it? Does she want a building already built or one to be built? Also important to know is how much is her budget range?

I'll leave the actual suggestions to those who know the area better than I do so I'll just show you an example of a development with ocean views and within proximity of The Mall of Asia, American Embassy and the Airport that she can check out. Just be aware though that a good number of these developments along Manila Bay are standing on reclaimed land.

Originally Posted by thomasian

The tallest structure in the area are the four buildings of Golden Bay Condominiums in Asiaworld City, which is located in the second island (Asiaworld) south of where MoA stands.

Two of the towers are on-hold while the other two are RFO I think, or at least they're topped-off.

The first two towers, Burgundy Bayfront Marina and Burgundy McKinley Place have 36 Floors (including 3 basement parking levels) so that makes them the tallest in the reclaimed Manila Bay lands.

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05.22.05
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Golden Bay Towers:

]
SM Mall of Asia and Golden bay Towers

[daDJ]

Originally Posted by Espma

I dream of retiring one day in a secluded island somewhere in the Philippines, that or a beach front maybe Batangas?!

What are your opinions about buying an island in the Philippines?!!!!

Although not secluded nor island-situated, Punta Fuego in Batangas is fast becoming the toast of Manila's moneyed set. The Punta Fuego peninsula boasts of beachfront and hillside locations facing the Pacific Ocean. I think the developer is Landco.

Ayala Land, not wanting to be left behind, recently launched a similar development called Anvaya Cove in the Bataan peninsula.

If you are really into buying an island, I heard that some of the islands in the Hundred Islands are up for grabs. Not sure though. Also I read somewhere that some islets in the Visayas and Palawan regions are also open for serious buyers.

[driftwood]

I've heard about Punta Fuego... haven't had the chance to actually go visit. From what I've heard though, it seems pretty interesting, if a bit on the expensive side. I guess you really get what you pay for... beach and golf, though I'm not much of a golf player.

[bustero]

sunds like she's thinking Roxas, Area. YOu can check out 1322, one of Manilas tallest, right in front of the embassy. Plus there's the cityland being built in front of the robinsons in ermita. both are still pre selling. further down the road Federal has Bay garden (tama ba ito ?)

Reclaimed land is ok as long as the foundation is ok which is almost piled anyway. HK is mostly on reclaimed land too. Same with Dubai. Either case buildings along adriatico/roxas blvd and metro reclaimed area are all the same succkee soil so all must pile to the bedrock.

[OtAkAw]

If I were rich I would love a place like Newport Beach, Orange County to live in. A place filled with 5-million-dollar mansions, all the people are rich (LIKE ME:-) No pollution, disneyland is just a drive away, the main city (LA in Newport's case) is near, your "Mansion" has a glorious view of the ocean, socialization is a cinch, many restaurants, a beach, hundreds of places of fun like bowling alleys, golf courses, yachting etc., great fun and celebrity neighbors!

A scenario like that could develop in Batangas or Bataan isnt it? Kulang lang tayong mga pinoy sa pera literally.

[rmb]

Ok thanx