Advise needed - is getting a Condo unit a good investment?

[aioshin]

Hi Mga Tsikoters,

Need an advise lang sana, I am here at davao, where a lot of lots and subdivision are currently rising outside of the city are, but there is phinma group putting a condo at the heart of the barangay Sasa, one of the main barangay at the city. Where beach, church, and schools are just on the vicinity. We reserved one unit, though no final approval yet on the processing, since the reservation is 15K only, so I reserved one. Is it a good investment? the equity will be payable for 24 months for 6K and then will be loaned thru pag-ibig later. Just want to hear anyone's advise since this condo thing is new here.

regards and happy holidays..

[shadow]

probably good for investment, like make it a rental for tourist etc, 'cuz I dont think anybody need a condo in the province where big lots are readily avaialble for a house, besides its the province, does it really have the traffic problem of manila? when commuting to/from work is a big hassle reason why most workers opting to buy condo in the CBD areas...

[crosswind]

It is not really a good invstment
condo units' price depriciate like
crazy unlike house n lot

[CVT]

Kung nakahiga sa pera,- bili ka...

Location is the most important....


“The measure of a man is what he does with power – LJIOHF!”
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[aioshin]

probably good for investment, like make it a rental for tourist etc, 'cuz I dont think anybody need a condo in the province where big lots are readily avaialble for a house, besides its the province, does it really have the traffic problem of manila? when commuting to/from work is a big hassle reason why most workers opting to buy condo in the CBD areas...

Well, Davao is a city now, not like manila though in terms of traffic and population. Yeah, probably, it will be good for Rental but I still have hesitation even if I made a reservation.

Kung nakahiga sa pera,- bili ka...

100% no, but at least on the tune of what you have said, Condo investment is for the RICH and Politicians. Need this kind of advise for me to backout.


Thanks for the replies..

[1D4LV]

nope. its not a wise investment. most condo properties peak their appreciation at around 8-10 years. afterwards, its a downward trend. so you have to recuperate and earn from your investment during these years. not to mention may mga costs ka pa like association dues, parking expenses, etc.

tama si cvt, unless nakahiga ka sa pera ok lang.

[foresterx]

It is not really a good invstment
condo units' price depriciate like
crazy unlike house n lot

not really, depends on the developer and area din siguro. got a condo last year pre selling pa lang and now it hasn't been turned over yet to unit owners and the price already increased by 20%. my friends unit here in my condo was sold for 35M when he only got it for 20M 5 years ago. in my area ubusan talaga ng units bago man or luma and every year tumataas for the past 12 years.

[EQAddict]

I invested in a couple of units in BGC . Am happy with the appreciation of the value and am looking forward to some nice rental returns. But land is a better long term investment in this asset class. The south is where i am investing.

[A121]

How about living in one? Usually nakikita ko mga bahay ay sa cavite at bulacan.

[EQAddict]

If its in a nice area then should be a good and convenient place to live in.

[dr. d]

no.
condos are not forever. house and lot are.
you should get one because you need it, not because you intend to make money out of it. the only surefire method i can think of where you can make money, is by buying cheap during the building process, and then selling it soon after completion. but only if you do manage to sell it at a profit. the rest are gambles..
just imagine... a building full of condos for long or short term rental.. why do you think yours will be the sought-after one?
but if you see a boom in population in the area...

my investment adviser..

[macsd]

If your in a prime location, yes it will be a good buy but if it's like those mga nagsusulputang mga kabute na condo, it's going to be good bye.

[badkuk]

Not a real estate expert, but if properties are still available and reasonably priced, and you feel the area is on the up and up, buy actual property if you can. When the time comes, you won't even need to build anything on it, sasabay na yan sa pagtaas ng property value.

[dr. d]

think dubai..

[leodawesome]

How long would you pay for it with Pag-ibig? Do you think the area can become a BGC or Ayala area of Davao? If not, might as well invest on a lot. Saken lang, if you can afford a lot now, then grab it. Yung mga palayan sa province ngayon ginagawa na ding subdivision.

[aioshin]

thanks for the feedback Tsikoters, many times i am computing and again and again reading this thread, in a short period, I realized, yes you are correct, there are still a real property like LOT that are available here. I actually will give up the slot I got.. (got the reservation of 15K) so I will have a friend that is interested to take over it, with the return of 15K..

[PaulGambino]

First rule..

Never ever consider a condo unit as an investment if you cant buy it in cash during pre-selling period.

That's what those property consultants will not tell you.


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[_Cathy_]

First rule..

Never ever consider a condo unit as an investment if you cant buy it in cash during pre-selling period.

That's what those property consultants will not tell you.


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Why is that?

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[yebo]

Why is that?

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discounts? some offer up to 20% off, sometimes even up to 25% if you buy in cash during the preselling period.

[badkuk]

kasi me charges sa financing/installment?