Does investing on a condominium still a good idea?

[vinj]

why did SM lowered their condo prices by as much as 40%?

Slow sales. They did this to their condo development in Paranaque AFAIK. Other projects nila, 20% off... if you look at the prices though, they're expensive to begin with so chopping off 20%-40% is quite easy for them. Di bale bumaba income, basta may cash flow and gumalaw ang inventory nila.

[shadow]

Nabasa ko sign daw ng imminent bubble eh, kaya SM is tryin to dispose na agad.

[dr. d]

it depends on the location. in the neighborhood where i work, condos are in demand. prices are maintained or, some believe, artificially high..

[pop3corn]

I believe condos are a great investment whether if it's for personal use or if you want to earn something from it. I live in a condo and my condo is just beside a very big and popular mall.

in terms of car maint and expenses, I'm hardly affected by the rising fuel prices kasi nilalakad ko lang ang office ko and I get to enjoy more of my car during gimmicks, it runs like brand new hehe. and also, hindi ko na sinusunod ang periodic PMS ng casa, coz for me a 5,000KM run can take me 8 mos to a year .

before, I used to drive home sa house ng parents ko and grabe ang expenses ko both maintenance and fuel as well as the wasted time spent over that walang-kwentang traffic. sa dami ng na-save ko both time and money, naging sisiw lang sa'kin bumili ng iphone and ipad and soundfreaq w/c btw, can cost me as much as 80K. yan ang savings ko, and updated pa ako sa technology lol.

In my opinion, Condos are your best way to tell this govt. and it's public transport protectors/profiteers, in your face, manigas na kayo lahat dyan sirain nyo buhay nyo araw-araw sa traffic and ka-jologan nyo! hindi na maging mabagal ang takbo ng buhay ko dahil sa mga baluktot nyong paniniwala and all that populist stuff na mahirap lang kami intindihin nyo kami kaya kami nasa kalsada ka-ekekan. and those who profit from them, alam ko naman talaga may balik yan kasi nakakadagdag sila sa pag waste ng time and resources ng ibang tao.


most people who buy condos only think of what they can gain from reselling it. pero if you ask me, andami unseen benefits if you buy your own condo and live on it. with so much free time on my hands after work, I get to research a lot on good bargains on travel too. this year, I'm confident I can travel to 3 asian destinations with the savings of time and resources and money that i'm getting ...

and also, I get to eat and prepare my own healthy food too. yan ang naging problem ko dati pag lagi nasa traffic, pag-uwi gutom na, lamon! the more nahihirapan umuwi, the more nag-seek ng instant gratification sa food and therefore lumolobo.

with so much time in my hands living in a condo, I got to watch a lot cooking channels, and I prepare my own food now lol. i rarely eat in fastfoods like McDo, Jollibee, in fact I rarely out anymore, unless on a gimick. would you believe natuto ko gawin yun mga Oliver's sandwich guy sandwiches at eto ang baon ko sa work.

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but I know this wouldn't last long, if times comes I have a family of my own, dyan na magkakatalo talaga coz a lot of things will change. but i really do enjoy, the balance that condo living did to my life and hope and pray na pag nagka-pamilya na ako of my own, I can teach my kids the same things I've learned.

[OTEP]

Just trying to scope out the Katipunan scene.

Tama si vinj i guess. We are renting out a small condo in ortigas and hindi naman nababakante. Siguro nga dahil business district.

Grabenadi. Presuihan ng townhomes nowadays. Yung roces 68 and yung mga nasa san juan addition hills nakakalula ma price. Even those near banawe sto domingo kahit bumabaha.

And if i lived in banawe, ubos siguro pera ko kasi walking distance lang sa bisyo. Hehe

[vinj]

Just trying to scope out the Katipunan scene.

Tama si vinj i guess. We are renting out a small condo in ortigas and hindi naman nababakante. Siguro nga dahil business district.

Grabenadi. Presuihan ng townhomes nowadays. Yung roces 68 and yung mga nasa san juan addition hills nakakalula ma price. Even those near banawe sto domingo kahit bumabaha.

And if i lived in banawe, ubos siguro pera ko kasi walking distance lang sa bisyo. Hehe

If you have extra cash to invest, buy property sa may area niyo, Otep. Tapos i-develop mo later on

Mahirap nga kung malapit ka sa Banawe. Hehe. Pero diba maganda daw Feng Shui area na yun?

[oliver1013]

hanap kayo ng mga owner leaving o kaya may sakit na yung old owner at nasa ospital kelangan ng pera...hindi man maganda tingnan but I've seen these transactions happen...nakaka shock man ang mura ng presyo, ang mas nakaka shock madalas pa nagpapasalamat yung may ari na may bumili sa property nila in that time of need...mahihimasmasan nalang yun pag ma reaqlize nila na mababa presyo ng pagkakabenta nila

[Ry_Tower]

I'm currently buying a condo unit. For college study ni jr. hehe

Pero kapag natapos in 3 years, baka i-pa-rent ko na din. Bihira naman bakasyon sa MM eh.

[OTEP]

Vinj, eyeing one dito samin. Pero medyo $$$ pa ang asking. And medyo hinahatak ako ng filinvest 2. Sorry ot.

Huwag nga pala kayo bibili sa burgundy. Yung katapat ng ust sa lacson. We got one para sana pag nag medicine ako. Tagal ko nang graduate wala pa din natatayo! Walang kwentang developer,

Same with steps sto. Domingo. If you want to live in a condo na parang talahiban, be my guest. My parents bought a unit there during my elementary years. Up to now unfinished pa din. Buti narefund pera after legal action.

[sam04]

With the sprawling condominiums being erected all over metro manila nowadays, does investing on one of them still a good move? I am eyeing the Fort Bonifacio area as I believe location should be one of the main consideration.

Or my other option is to just look for a lot somewhere in QC and put up maybe a small apartment.

Appreciate any of your thoughts on this. TIA

For me it is a good move. We invested at a condominum in davao and we are happy about it. It gives us the luxury and happiness of life.

[thomaspastoral]

For 2017 (and beyond), investing on a condo or real estate in the philippines, or in any other places, can still be a good idea. If you're still hesitant about it, you might diversify on other investments, like stocks or paper assets, or on a business. At the end of the day, if you would invest on something, try to study about it and learn more about the things that you can get back after the investment. It may be slow, but it would be sure and worth it in the end.

[Yuesford]

Sa pagkakaalam ko. Ang lupa tumataas ang value samantalang ang bahay na nakatayo rito hindi. Same case apply to condo, so hindi. Then again, opinion ko lang yun.

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[KingoftheNorth]

Some food for thought:

1. Condos generally depreciate in value, especially from the affordable to mid-priced market (SMDC, Avida, DMCI, Empire East, Megaworld).

2. The high-end market condos depreciate slower considering the location and cuts (area size) which are generally bigger.

3. The condos in the high-end market also takes into consideration the quality of their property management which makes living in those condos more desirable (i.e.Rockwell condos, Ayala Land Prime, One Roxas, etc.) since the building (common areas, amenities) and its equipment (elevators, gensets, fire protection) is being properly maintained.

4. For rentals, location and supply of condo units determine rental rates. So, a condo unit in Makati west side will typically command lower rental than a unit located in Makati CBD. Also, the condition in which it is being rented (i.e. bare, semi-furnished, fully furnished).

5. As one poster stated here, you're biggest market competitor when flipping your condo are the developers themselves because they can offer terms and you likely can't. Right now, its a buyers' market and will continue to be for the foreseeable future.

6. The best renters are still the expat market since they generally pay a year's rent in advance.

HTH!

EDIT:

That said, you ask, is it better to invest in land? Answer is that, it depends. Keeping land or any property idle for so long in the hopes of values appreciating in the next 5 years or so will be dependent on how rapidly the locality where the lot is located develops such as, construction of roads, residential or commercial buildings, schools, churches, even government offices.

Even then, you'll be paying carrying costs like real property tax and idle land tax, so you really have to weigh these factors.

[Sebastian Bach]

Some food for thought:

1. Condos generally depreciate in value, especially from the affordable to mid-priced market (SMDC, Avida, DMCI, Empire East, Megaworld).

Care to explain further why they generally depreciate in value? I am curious.

[supadude]

I almost dive in to investing in a condo and have it rented din.

But I tried to do a quick computation on the total cost of investment of a condo, then yun monthly amortization na babayaran sa bangko, and the current market rate of renting the said unit.

Assuming na laging may nag rerent sa unit monthly, it will take more or less 10 years bago mo mabawi un investment mo. hinde pa kasali jan yun maintenance fee ng building plus yun renovation ng unit after 2-3 years or pag may pumalit na bagong nag rerent. depreciation ng appliance or may mga major appliance need palitan after a few years, (mejo madami din barubal na tenant) and with new units that is being built by developers nearby malabo na makapag taas ka ng rent every year ng 10% kahit nga 5% hirap din. But kahit ganun dami pa din bumibili for investment daw, lalo na mga ofw.

Hinde pa kasama jan yun risk na may mga months na bakante unit mo.

just wondering....maybe somebody here who is good in this can explain better

[ice15]

Care to explain further why they generally depreciate in value? I am curious.

kalaban mo is pre-selling.

I bought a condo unit once in Timog... by the time I wanted to sell it, the same developer has a new project in Mother Ignacia!
Other developers were also building near the area... I basically lost 1M is less than 3 years just to get rid of that unit.

High end projects don't depreciate too much since kaunti lang naman sila...

[KingoftheNorth]

Care to explain further why they generally depreciate in value? I am curious.

Just saw this.

Unlike a house and lot, a condo is a building (mid or hi-rise) built on land.

The building has mechanical and electrical systems which depreciate over time (i.e. elevators, generators, water pump, FDAS, BMS). You'll find that those condos which were marketed and sold five years ago as affordable will not be selling anywhere near their brand new price.

[dr. d]

in the long run, buildings depreciate.
land... usually appreciates.

[beebee]

prime example is one of our condos in eastwood, the one beside the mall. you would think prime location cya because tabi ng mall pag baba yun na.. we bought it pre selling 4m more or less, after 4yrs sold it for 3.7m after renting it out for 1 year.. so more or less break even lang considering how long walang nagrent and 11months on the market kaya binagsak nmin yung selling price. if the money was invested elsewhere, im sure mas kumita pa in a span of 8yrs.

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[beebee]

prime example is one of our condos in eastwood, the one beside the mall. you would think prime location cya because tabi ng mall pag baba yun na.. we bought it pre selling 4m more or less, after 4yrs sold it for 3.7m after renting it out for 1 year.. so more or less break even lang considering how long walang nagrent and 11months on the market kaya binagsak nmin yung selling price. if the money was invested elsewhere, im sure mas kumita pa in a span of 8yrs.

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and we sold it way below yung claim nila na markrt value. so be wary of your sales agents sa claims nila.
kaya lang before we sold the eastwood condo, bought another beside robinsons mag naman.sabi namin this is a good investment beside the mall ulit. we never learned. 2yrs na for sale no takers pa rin, at 600k lower than their list price. may new bldg kase 20% move in na. ampfft!

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