Does investing on a condominium still a good idea?

[Deestone]

I bought a condo unit which I'm paying monthly amortization and is about to end this 3rd qtr 2019 for the balance thru bank financing. Since the condo is smdc which is affiliated with BDO can they give me the lowest rate? and what is the current interest rate right now per annum? Do I need to pay processing fee or other fees prior to bank approval for my loan? so that I can be prepared for bank financing. Also, if you can provide tips on how to haggle is much appreciated.

[chronicle]

I bought a condo unit which I'm paying monthly amortization and is about to end this 3rd qtr 2019 for the balance thru bank financing. Since the condo is smdc which is affiliated with BDO can they give me the lowest rate? and what is the current interest rate right now per annum? Do I need to pay processing fee or other fees prior to bank approval for my loan? so that I can be prepared for bank financing. Also, if you can provide tips on how to haggle is much appreciated.

If bank affiliated ang property, usually, the loanable amount is higher compared to other non bank affiliated. Bpi usually gives only approx 60 percent of the loanable contract while others can go as high as 80 percent.
Rates will probably be the same accross banks and
Im not sure the rates now but prolly it is still on the 5 - 6 percent range.

Apply loan to different banks to see who gives you the best rates, then compare.

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[badkuk]

i read a tweet recently that condo/residential sales are down even with the Chinaman buying. Perhaps the prices have been pushed so high that it's starting to affect demand.

[Deestone]

i read a tweet recently that condo/residential sales are down even with the Chinaman buying. Perhaps the prices have been pushed so high that it's starting to affect demand.

Property at entertainment city is now ranging between 300-350k psm. I think demand is still high specially for foreign investors that's why they keep pushing the price upward.

[Deestone]

If bank affiliated ang property, usually, the loanable amount is higher compared to other non bank affiliated. Bpi usually gives only approx 60 percent of the loanable contract while others can go as high as 80 percent.
Rates will probably be the same accross banks and
Im not sure the rates now but prolly it is still on the 5 - 6 percent range.

Apply loan to different banks to see who gives you the best rates, then compare.

Sent from my BLL-L22 using Tapatalk

Okay so much better if I stick with BDO that is also my primary bank anyway. For the rate we haggle or talk to the branch head or will they assign a loan officer? I know they also earn commission for every approved loan.

[chronicle]

Okay so much better if I stick with BDO that is also my primary bank anyway. For the rate we haggle or talk to the branch head or will they assign a loan officer? I know they also earn commission for every approved loan.

Just ask the branch manager. Or apply online. May magaasikaso naman sayo eitherway.

But again, dont limit yourselr to a single bank.

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[kagalingan]

I like mga ganito cash. Ayoko ng hulugan tumatagal responsibility.

Pero kita nyo photo tabi-tabi condominium. Water-crisis na lang at paano pag the "big one". Mas less damage sana kung one condo per 10kilometers.

Mainland Chinese overtake OFWs as top buyers in Philippine residential market — report (philstar.com) - March 19, 2019 - 11:48am


This file photo shows the skyline of Manila.
AFP/Ted Aljibe, File

MANILA, Philippines — Buyers from mainland China had dominated residential sales in the Philippines amid improving ties between Manila and Beijing, real estate services firm Leechiu Property Consultants said.

In a report dated March 18, Leechiu Property said overseas Filipino workers are no longer the top buyers in the residential market following a surge in mainland Chinese buyers, which is expected to continue in the long-term amid rekindled relations between the Philippines and China.

Leechiu Property added that residential projects in the Bay Area, Makati, Manila, Ortigas and Quezon City, as well as in other areas near Philippine offshore gaming operators (POGO) and existing Filipino-Chinese communities are “experiencing brisk take-ups of 12 units a month.”

Strong demand has also led to tenants dictating record high prices for rental units, Leechiu Property said. Rental units in the Bay area have climbed by 80 percent in the last three years.

“Assuming a constant aggregate take-up of 7,757 units, the remaining inventory in projects preferred by mainland Chinese buyers will be depleted in three months,” CEO David Leechiu said.

Overall, Leechiu Property said it expects “brisk growth rates” in office, residential and industrial real estate markets in the first quarter of 2019.

It also projected continued demand from the IT-BPM sector in Manila, as well as in the regions “provided there is a continuous stream of PEZA accredited spaces.”

PEZA, or the Philippine Economic Zone Authority, is tasked to promote investments, extend assistance and grant incentives to investors in export-oriented manufacturing and service facilities inside selected areas throughout the country.

“We expect transaction values to keep climbing this year not only in the office market but also in the residential and industrial arenas,” Leechiu said. — Ian Nicolas Cigaral

https://www.philstar.com/business/20...XiKvrMZM8OCxB0

[chronicle]

I like mga ganito cash. Ayoko ng hulugan tumatagal responsibility.

Pero kita nyo photo tabi-tabi condominium. Water-crisis na lang at paano pag the "big one". Mas less damage sana kung one condo per 10kilometers.




Mainland Chinese overtake OFWs as top buyers in Philippine residential market ? report | Philstar.com

Kaya pag bumili ka condo ngayon. May chance na kapitbahay mo left and right mainlander. Tapos iba salaula pa.

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[sparc179]

My brother recently asked me also if buying a Condo in M.M. is a good investment nowadays, right away I said no. Mainly because of the influx of Chinese mainlanders and the very big possibility that the "Big-One" will hit the Metro sometime soon. We are long overdue for a big earthquake in Luzon. Something to consider, especially if you are a Prepper.

JMHO.

[boybi]

Would prices of condos fall once magalisan mga mainlanders? Like if the next president e ayaw sa China and paalisin mga mainlanders dito.