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Tsikoteer
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December 28th, 2016 03:59 PM #11Hmm, if you plan to rent/lease out or sell later, go for the properties with good location, not cheap pricetag. i have an aunt that bought some "cheap" properties about a decade ago, nahirapan din siyang ibenta because the location isn't so good.
They say there's still a housing backlog, but personally i wonder if they'll ever fill out all the condo units. At my location there are about 10 condo projects, some ongoing pa.
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Tsikoteer
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December 28th, 2016 04:05 PM #12i think there are projects that are specifically BnB/serviced apartment type -- i.e. not the traditional residential condo type. i.e. you buy a unit, then the condo management handles the renting out, maintenance, etc.
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December 28th, 2016 04:53 PM #13
Parang may narinig nga ako na ganon. Parang condotel ata tawag nila. Makapag research nga din sa ganon.
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Verified Tsikot Member
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December 28th, 2016 06:16 PM #14mejo matrabaho ung condotel / airbnb. you have to maintain internet connectivity, invest sa lahat ng gamit, not to mention ung time na i alot mo with marketing it and dealing with the customers. Pag ung normal na rent na 1 yr term mas stable. Okay din ung near Universities, but be ready dealing with "kids" kahit adult age na yang mga yan lol. Also, I think mas mabilis ang turnover ng college kids kesa working class, or family.
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December 28th, 2016 11:36 PM #15
Sabagay. Balak ko parents ko mag asikaso kasi wala naman work. Pero hirap din pag byahe.
Mukhang negative na to. Hehe
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May 21st, 2017 04:27 AM #16
Sa experience namin sa condo na rentahan nmin para sa anak ko may agent yun may ari ng unit sya nag hanap ng rerenta tapos 1 month ng payment mapupunta sa agent then 2 months deposit and 11 months advance pdc sa owner. Same din pag nag renew ka ng contract.
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May 21st, 2017 07:41 PM #17
We have a condo unit in Green Res in Taft Avenue, near schools/universities. Almost a year na from turnover pero hindi pa rin napapa-rent. Maraming inquiries pero hindi kami magkasundo sa terms. Marami yata talagang condo units na pinapa-rent kaya maraming choices ang renters. On the other hand, we have a commercial unit na after weeks ko mag-post ng "For Rent", may renter na kaagad. So sa ngayon we more inclined to invest in com'l units.
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Tsikoteer
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May 21st, 2017 10:29 PM #18
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May 22nd, 2017 03:14 PM #19
Based on my personal experience... NO!!!
Buildings as per local laws only have a life of 50 years... So don't expect too much resale value after 20 years from the Condo you bought.
If you plan to rent it out... Long term, most of the expats I've met have a housing allowance of 120k (including car, Asian) to 180k (excluding car, American/European). I've met around 7... But all of them prefer a 3 bedroom unit near/along Ayala/Rockwell or Taguig... (1 guy wanted a unit along Roxas Blvd, facing Manila Bay).
So if you can find an American/European expat... Swerte mo, but you will need a 3 bedroom unit with big parking. (our condo offered 3 types of parking space... Motorbike, Regular Car, Big SUV)
For AirBNB, I personally prefer SMDC, but only those who have secured access to a SM Mall (e.g. Grass Residences). Max I'm willing to pay for a 1 bedroom with balcony (accommodates 4, with high speed internet) is USD 30/night (1,492.95)
This website says that the unit I'm renting if at Shore Residences is P3,565,686.00
BPI Loan Calculator at 50% DP and 10 years to pay P19,128.42 (monthly)
At 1,492.95/night if your place is rented for 25nights per month you will earn 37,323.75/month, you will have to deduct condo fees, utilities, internet, cleaning cost and 19k monthly amortization fees...
FYI, USD 30/night units will normally come with useful kitchen items like cooking oil, eggs, sausages, condiments, peanuts, water and 2-3 cans of beer... ($25/night units only come with toiletries and dish washing liquid)
So minus everything... let's just say you earn PhP 5k/month for your unit...
You will need approx 15 years to earn back your 50% DP of P1,782,843.00, wala pa dito yung "closing fees/bank fees" (first 10 years is 5k/month then once bank loan is finished, you will earn PhP24,128.42)
Yung last 25 years ng condo mo is basically profit na...
Selling a condo is close to impossible... I have friends who are even selling their units at pre-selling price (mabalik lang yung pera), problem is by the time you decide to sell your condo, may new project na ulit that's 2-3 blocks away from your building that's newer and better.
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May 22nd, 2017 03:21 PM #20
I've met a lot of OFWs who are buying condos... Kahit 2 weeks lang a year may tao yung house, mahirap kasi makitulog sa kamag-anak when visiting Manila...
Yung iba naman buys for their children just in case maisip nila mag aral sa Manila...
I have to admire SM's (Grass Residences) policy on AirBNB units... Renters are not allowed to use the amenities unless paperwork is done by the owner...
Even with proper paperwork, may separate gym sila for renters...
The technology has been around for so long... 20% of Singapore is reclaimed... So it's safe...
Hybrids and EV