With all the talk of condo skyscrapers springing up left and right, and your friends buying and even asking you to their condo housewarming parties, you could be on the verge of making a condo purchase. While you should take advantage of the low pricing and rising property market in the Philippines, you should also read these suggestions.
Stop obsessing over location. Everywhere you look, there’s a fantastic place. That’s because there are so many different people with so many varied occupations, tastes, circumstances, and everything else. Furthermore, known and reputable condo developers would not build such properties in areas where no one would be interested.
Be aware of your target market. Some condominium complexes cater to the common Juan, while others cater to the Juan who has made it in life. They aren’t all created equal. So, if you want to be sensible in your real estate investing, do your homework and learn about market trends. Make sure you do this thoroughly so you can target the correct market.
Be a little ‘crazy’ with your timeframes. One of the most crucial aspects of real estate investing is timing. It’s so crucial that if you do it wrong, you might wind up with a property that’s useless. One that will never provide you with a return on your investment in the following ten years! Making sure that the condo property you acquire is accessible to your target market at the exact moment they are likely to require it is an important part of attaining the ideal timing.
Think about the project’s developer. When you purchase a condo unit during the pre-selling period, that is, when the building/s are still being built, you must ensure that the developer can deliver your unit on schedule. Aside from delivering on time, inquire about and inspect the quality of work that various developers provide.
Understand Your Payment and Financing Options. Contrary to popular belief, you do not need to be a billionaire to begin investing in real estate. The majority of condominiums in the Philippines nowadays, especially in the main cities, cost at least millions of pesos. However, you just need a little more than P20,000 to get one. In fact, in a lot of recent situations, it’s been much less!
The Philippine Property and Investment Exhibition (PPIE), the biggest, longest-running and most trusted Philippine business and investment forum in the Middle East, is now on its eighth edition, which will be held this November 5-6, 2022 at the Crowne Plaza – Sheikh Zayed Road.
The past seven PPIE editions made history in the UAE and the Gulf region by bringing in over 24,500 quality visitors.
