Why condos make good investment properties Low cost: In many real estate markets, condos are significantly cheaper on average than single-family homes. Desirable locations: Condos are often located in areas where single-family and multi family rentals are in short supply.
Is it practical to buy a condo in the Philippines?
Condos are a great investment if you have some critical factors on your side. So, for a full answer, yes, it is completely possible to make a good investment from real estate in the Philippines; however, there are three areas you should consider before you dive in. Let us look into these in more depth.
How much salary do you need to buy condo Philippines?
Here is what the analysis has found. Metro-wide, a prospective condo buyer needs to have a salary of Php128,323 per month in order to afford a 60-sqm condo, using the Philippine capital’s average condo price of Php90,633 per sqm.
What do you need to know about buying a condo?
• The client is endorsed to a sales agent. • The sales agent contacts the client to find out if the client’s specific needs (location, type of unit, floor area, etc.). • Sales agent schedules an appointment with the client to present details of the project as well as the payment terms.
Who is the best person to buy a condominium with?
There are a number of professionals you should turn to when buying a condominium. Real estate agents, lawyers, developers and property managers — who ideally specialize in condominiums — all play an important role. Here is an overview of how each professional can help.
Who is the owner of the common area in a condo?
In a condominium (commonly known as a condo), some parts—such as your residence—are owned privately. Others—such as common areas—are owned collectively by all of the condominium’s owners. A less technical way to think of a condo is as an apartment that you own.
Where can I find a listing for a condominium?
If you’re more of a do-it-yourself person, you can search real estate websites and listings for condos in the area in which you are interested. If you have a specific building or complex in mind, many offer on-site sales offices, where you can learn more about the condominium and perhaps even view a show suite.
