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Tips to buying a condo...


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Skywalker

 

The only few condos that are worth buying for investing in Cebu are those big penthouse type of condos, not the tiny ones. They are expensive, but there aren't that many in Cebu, and some people do rent them, if you have some good marketing behind it, it's possible. Those small tiny ones, some people seem to want 25,000 for just 1 room with a mini kitchen and a bathroom... well, those might actually stay vacant for longer, looking at how many there are in the city

 

Do you have any experience in buying condo's for investment?  

 

What you are saying, is not being reflected by the building going up here in Cebu.  The building I am in (Ramos Tower, I am on the top floor) doesn't have any penthouses.  The new development in Riala (for instance) which is a 5 block development (http://www.avidaland.com/Avida-towers-riala.php) has no penthouses, according to the sales rep I spoke to.

 

My building is mainly 22m2 studios (with balconies) at about the 23,000 a month rents.  The vast majority of which are empty.

 

I've mentioned in another post, there is a bubble growing here, and I suggest that you don't invest here unless you know exactly what you are doing.

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Houses tend to find their own level.   The condo explosion is being fuelled by very slick, intensive, high pressure marketing, they are more about selling a dream, a concept, a fantasy than the rea

After the children are grown and out the door, we will be getting rid of the maids and moving to a condo near Ayala Mall. However, we are going to rent. No matter what the price, the flexibility of no

Trust me, I lived in Bangkok for 8 years, the condo market there has been established for much longer than Cebu, it's flooded with property, and loads of empty condos - many for years.   Not a place

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billy

Do you have any experience in buying condo's for investment?  

 

What you are saying, is not being reflected by the building going up here in Cebu.  The building I am in (Ramos Tower, I am on the top floor) doesn't have any penthouses.  The new development in Riala (for instance) which is a 5 block development (http://www.avidaland.com/Avida-towers-riala.php) has no penthouses, according to the sales rep I spoke to.

 

My building is mainly 22m2 studios (with balconies) at about the 23,000 a month rents.  The vast majority of which are empty.

 

I've mentioned in another post, there is a bubble growing here, and I suggest that you don't invest here unless you know exactly what you are doing.

i was thinking of buying a 3 bedroom condo in city lights to rent out

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Thelandofku-an

i agree with you on the saftey issue as its easy to secure a condo in the higher floors what i dont agree with is a condo is most often worth more because of its location to jobs and or the need to NOT have a car this is not so in cebu by a long shot so why are condo units over 100,000p a sq meter and houses 30,000p a sq meter 

Because they don't agree with you?  Or typo?   :unknw:

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ThomsonJr

That's why I think the penthouse units are (or were) a better investment. There aren't as many and there is a small market...

 

 

My building is mainly 22m2 studios (with balconies) at about the 23,000 a month rents.  The vast majority of which are empty.

 

I've mentioned in another post, there is a bubble growing here, and I suggest that you don't invest here unless you know exactly what you are doing.

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ThomsonJr

I have experience buying and selling properties back home, but I haven't bought any condos in Asia yet. I'm still doing my research, my few previous posts are speculations based on the research i've done and what i've seen. 

 

Do you have any experience in buying condo's for investment?  

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tokyoman

 

My building is mainly 22m2 studios (with balconies) at about the 23,000 a month rents.  The vast majority of which are empty.

 

It sums up why one should not invest here

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smokey

Because they don't agree with you?  Or typo?   :unknw:

i think condo unit is easier to secure then a house but the cost to buy a condo is way over blown 

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Skywalker

Houses tend to find their own level.

 

The condo explosion is being fuelled by very slick, intensive, high pressure marketing, they are more about selling a dream, a concept, a fantasy than the reality, which is an over priced small modular unit.

 

For me, the attraction is security as I travel a lot. High off the ground for a decent view and above the noise. My condo will be well built, well presented and located by Ayala Mall. It is an Ayala Land project, solid company with great reputation.

 

Is it a good investment? - probably not, for a commercial let. I didn't buy it for renting out, since it was purchased to be my main home here in Cebu.

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billy

Houses tend to find their own level.

The condo explosion is being fuelled by very slick, intensive, high pressure marketing, they are more about selling a dream, a concept, a fantasy than the reality, which is an over priced small modular unit.

For me, the attraction is security as I travel a lot. High off the ground for a decent view and above the noise. My condo will be well built, well presented and located by Ayala Mall. It is an Ayala Land project, solid company with great reputation.

Is it a good investment? - probably not, for a commercial let. I didn't buy it for renting out, since it was purchased to be my main home here in Cebu.

Can you share what size condo? And what is price? Thanks
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Contango

I cant wait for the turn over of my new Condo, August/Sept cant come soon enough...everything seems to be proceeding as normal, the checks get cashed on the date they are suppose to, i finally received 5 months of Receipts from my condo developer, and as my building is the 5th building to be finished in a complex of 9 i feel confident in the future because 3 building are already occupied with no issues.

 

I bought off plan from a big developer to avoid any title issues and hopefully to avoid any issues with the developer running out of money etc...plus it was cheaper and everything is brand new, 2 bed 56 sqm for a touch over 2 mill, how could you go wrong....i would love to post a photo but cant link to an image. :( ok well i can still external link. :)

~

http://i1360.photobucket.com/albums/r644/So_Cynical/Mycondobig_zpsc94671bd.jpg

Edited by Contango
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Thelandofku-an

Looks great, paartee!   :wave:

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Thelandofku-an

i think condo unit is easier to secure then a house but the cost to buy a condo is way over blown 

And I have to leave my best friend at the country house chasi'n birds and eating papaya!

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Dolsos

 

And I have to leave my best friend at the country house chasi'n birds and eating papaya!

 

thats no way to treat your wife/gf, at least let her sit at the table when she eats...

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Thelandofku-an

thats no way to treat your wife/gf, at least let her sit at the table when she eats...

They are company for each other cepti'n my missus can't hold her back on the lead!

 

Strong enough to pull a small car!

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billy

I cant wait for the turn over of my new Condo, August/Sept cant come soon enough...everything seems to be proceeding as normal, the checks get cashed on the date they are suppose to, i finally received 5 months of Receipts from my condo developer, and as my building is the 5th building to be finished in a complex of 9 i feel confident in the future because 3 building are already occupied with no issues.I bought off plan from a big developer to avoid any title issues and hopefully to avoid any issues with the developer running out of money etc...plus it was cheaper and everything is brand new, 2 bed 56 sqm for a touch over 2 mill, how could you go wrong....i would love to post a photo but cant link to an image. :( ok well i can still external link. :)~http://i1360.photobucket.com/albums/r644/So_Cynical/Mycondobig_zpsc94671bd.jpg

Do you know the price of a condo in muntinlupa is 40% of the price of a condo in cebu

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