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How to Market and Sell a Condo in CEBU

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Kabisay-an gid
52 minutes ago, Flakes said:

Proof that the newly built Cebu condos are overbuilt, overpriced and that the rental returns of these unit will be problematic? I think that proof u can see in most streets yourself in Cebu City. There are more sellers then buyers.If u buy it for ur self to live in its still ok but yes it needs very hard price negotiations to avoid disappointments afterwards.30-40% discount for cash buyer i sure some developers will consider it.

Cebu City condo prices per square meter are some of the LOWEST in the major cities of Asia.

You will pay substantially more in the major cities of China; Japan; India; Singapore and Taiwan - and somewhat more in Thailand.

So welcome to Asia, home of overpriced condos!

 

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Edited by Kabisay-an gid
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Kabisay-an gid
15 minutes ago, Lee said:

Keep dreaming, those are the same words I heard back over 10 years ago, "the condos are overpriced" well they have gone up in price per sq meter at least 5 times since back then and there does seem to be plenty of buyers, or more buildings would not continually be going up, someone has to be buying many of them for that to happen,  why it is happening I am not sure of but OFW's being one group that apparently is targeted and apparently buy units for their future. 

IMHO if anyone wants to buy to earn money via rentals, then they will have to buy in places that are in demand, such as IT Park and Ayala Business Park, both of which keep growing, or buy in lower priced buildings near colleges or hospitals, where lower priced rentals make those units affordable for students and staff.  

As Cebu City keeps growing, there will always be a demand for housing, people who work have to live somewhere and then comes the expats.

Also buy near major malls. Parthenon Residences (across the street from Robinsons Galleria, Mabolo) is close to sold out - even though it's a massive 800 units and won't be turned over until at least 2019.

Anyone interested in buying a condo in Cebu City should purchase ASAP, because prices are going nowhere but up at a rapid pace.

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Flakes
1 hour ago, Salty Dog said:

There are usually always more sellers than buyers. Otherwise, there wouldn't be anything available to buy...

Well no for example:  lets say in Cebu there are 15.000 units for sale while only 300 people looking to buy.Which way u think prices will go?(downwards) or lets say for example San Diego 4.000 units for sale while 6000 people looking to buy (price will go up). Now there are more buyers then sellers but thats clearly not the case in Cebu!

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Flakes
36 minutes ago, Kabisay-an gid said:

Also buy near major malls. Parthenon Residences (across the street from Robinsons Galleria, Mabolo) is close to sold out - even though it's a massive 800 units and won't be turned over until at least 2019.

Anyone interested in buying a condo in Cebu City should purchase ASAP, because prices are going nowhere but up at a rapid pace.

Yes hurry hurry go sign that S&P before u miss out?.But near shop mall is a good tip.About  that Parthenon Residence it has only shoeboxes of 21 sqm without even a decent balcony u really think its a good investment? Sorry but in Europe even the jail cells look nicer and come better finished then that and u can stay for free! Price i do not know but any shiebox in that building above 750,000 pesos is over priced.

Edited by Flakes

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Salty Dog
1 hour ago, Flakes said:

Yes hurry hurry go sign that S&P before u miss out?.But near shop mall is a good tip.About  that Parthenon Residence it has only shoeboxes of 21 sqm without even a decent balcony u really think its a good investment? Sorry but in Europe even the jail cells look nicer and come better finished then that and u can stay for free! Price i do not know but any shiebox in that building above 750,000 pesos is over priced.

If you feel condos are too expensive and/or too small, then don't buy one...

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Flakes
1 hour ago, Salty Dog said:

If you feel condos are too expensive and/or too small, then don't buy one...

I okay to buy but only for the right prices and sizes. Luckily its a buyers market and these developers  need to stop with their practice  to cut sizes and even put prices up so we the end users get shafted  each time with pricier and smaller units.

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delancey

When they finally do drop 50% it will probably after the prices went up 200%. 

The demand has defied the logic of the doom and gloom set year after year after year after year. 

Back in the U.S. Major League Baseball players where paying top dollar at one condo in my city because it was the "perfect" location for them. I think the little guy tries to do the same, aspire to the most "perfect" condo and overpay $30K here in Cebu. The price becomes normalized then.

Location, location, location as we all know.

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smokey
7 hours ago, Kabisay-an gid said:

Cebu City condo prices per square meter are some of the LOWEST in the major cities of Asia.

You will pay substantially more in the major cities of China; Japan; India; Singapore and Taiwan - and somewhat more in Thailand.

So welcome to Asia, home of overpriced condos!

 

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ha ha ha condo units in this country are sold at high rates due to the crappy traffic oh buy a condo here and you don't need a car but yet people buy cars anyway so what is the point .. oh yea I can get to this high class restaurant by walking sure hot date lets walk to the restaurant I know its not easy In your heels and dress but maybe we can find a trike.. its all marketing seems cheaper then a house and is but why so just how much extra money will you pay to not have to drive to the restaurant .... condo 120,000 sq meter..... house 30,000 sq meter ...  yes condo is cheaper if you can squeeze into 25 sq meters everything your sala your bathroom ,, your bedroom . ... of course its hard to compare not many 20 sq meter houses being sold these days.. so just buy a condo live in it and why you pass who cares your gone.. but as an investment maybe as long as your not the one living in it.. I have been to a few of the big condo units the 40 sq meters units and they don't offer much in the way of private space yet for the same money you can buy IF married a nice size house ////   now to me if a house is 30,000 per and a condo 45.000 per then I can see the extra money for the location but 120,000 per to me its a give away of money .. condo sell because of IN HOUSE FINANCING ... just like the west you don't own the condo your renting to buy ... if banks ever get close to home loans like the west condo units will take a major dump 

Edited by smokey
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Davaoeno
8 hours ago, Flakes said:

.30-40% discount for cash buyer i sure some developers will consider it.

I would very much appreciate you telling me their names so I can go and buy a couple of units.

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Flakes
4 minutes ago, Davaoeno said:

I would very much appreciate you telling me their names so I can go and buy a couple of units.

I keep u posted?.Same goes for resales there is always someone who just want out after having his flat on the market for years. For new ones if we look multiple  units and we cash buyers then 30% of should be the bare minimum.Keep me posted also?.we meet 10 Developers i sure atleast 1 or 2 will come to their senses.

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smokey
20 minutes ago, Flakes said:

PI keep u posted?.Same goes for resales there is always someone who just want out after having his flat on the market for years. For new ones if we look multiple  units and we cash buyers then 30% of should be the bare minimum.Keep me posted also?.we meet 10 Developers i sure atleast 1 or 2 will come to their senses.

please come to their senses  ha h aha  thanks for the humor 

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Lee
58 minutes ago, Flakes said:

I keep u posted?.Same goes for resales there is always someone who just want out after having his flat on the market for years. For new ones if we look multiple  units and we cash buyers then 30% of should be the bare minimum.Keep me posted also?.we meet 10 Developers i sure atleast 1 or 2 will come to their senses.

Please keep us all posted, I too would not mind a 50% off deal with a great location and hopefully free parking space and while they are at it, one year no payments would also be nice.

You know sir, every year for at ;east the last 10 plus years that I know of, a new member comes on with basically the same comments as you, I do not doubt that someday the market might crash but with Filipino logic, the only way I see anyone ever getting a deal would be from a private owner who needs to sell, that happens on occasions so keep your eyes open and hope you find your pot of gold and the end of the Cebu rainbow.  

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govoner

If the condo market is running so red hot can someone tell me why  punters who brought new or off the plans within the last 5 years would consider themselves lucky to get their money back if they sold now

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Lee
10 minutes ago, govoner said:

If the condo market is running so red hot can someone tell me why  punters who brought new or off the plans within the last 5 years would consider themselves lucky to get their money back if they sold now

Simple answer, there are new condos being built all the time, new developers offer terms, private people usually want cash for their condos, do not mix up the two, the new condo market has nothing at all to do with the used condo market.

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delancey

Liquidity is poor. However some don't buy for raw practicality like a  barangay house for P500K, complete with Karaoke and roosters.

 A desirable condo in Manhattan will have world class amenities and services within walking distance. 

I think a watered down  third world version of this is attatching them to malls and basic work and entertainment venues like IT or malls.

Unfortunately the worse traffic and government planning gets the more that kind of condo becomes desirable. imo

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