So what brings you here to the country’s top business district? You visit Makati City because you’ve heard of all the top hotels, restaurants, and malls all over the city. One of your friends must have told you about Salcedo Market or how the city attracts some of the most affluent names in politics, culture, and business. There might be something about working from office spaces atop shiny new skyscrapers and charming classical buildings that make you feel like a true go-getter.
Chances are, you’ve visited one too many times, or work there, and that you just can’t get enough of the city.
Visiting Makati is one thing, but living here is a totally different animal. To buy real estate and reside in Makati, you probably assume that it’s going to cost an arm and a leg. There is some truth to that, considering that the estimated monthly cost for a single person in Makati roughly costs more than P35,000, according to Numbeo.com. A family of four, on the other hand, can spend as much as P124,917 without rent.
If you factor in rental costs, which, on average, is 176.72% higher than in Quezon City, you might find it thrice as hard to save. It doesn’t have to be that way though, especially if you really want to buy a home here. Secure a property investment for long-term rewards. Trust us when we say that this will pay off in the long run.
In 2020, the Bangko Sentral ng Pilipinas (BSP) Residential Real Estate Price Index observed that condo prices in Metro Manila have declined in the third and fourth quarters, too. Rent and property prices for low- and mid-end condos in the metro have also fallen.
But Makati real estate, along with homes, townhouses, and condos in other top cities, is expected to increase in 2022. Now that the country’s economy is recovering from the pandemic, the demand for properties in Central Business Districts is expected to follow. Hybrid office setups will be adopted, more vaccines will be coming in, and, before we all know it, Makati City is going to be roaring again. The time to buy a home is now.
Buy real estate in Makati and you get the opportunity to reside in property with strong capital appreciation and rental yields potential, especially come 2022 and beyond. Demand in Makati real estate, along with homes and condos in other top cities, is also estimated to increase next year. Colliers International reported that 86% of luxury and mid-market property developments to be completed between now and 2022 have now been sold. A Makati condo unit, for instance, near the business area, is something you surely want to invest in, due to the scarcity.
Don’t worry though. There are plenty of other good, long-term property investment options. Ohmyhome’s inventory, for example, has properties that are perfect for yuppies and young investors like you.
Mint Residences is situated just one kilometer away from the business district. It also gives you direct access to transport hubs and all the best malls. This SMDC property development prides itself on having amenities that refresh urban dwellers, from the lap pool and gym to the lounge area and commercial strip. Condo prices here range from ₱6,293,000 to ₱16,436,000.
A condo unit where you can literally walk right into Greenbelt and the Makati Cinema Square? Invest in Laureano Di Trevi. The Makati Medical Center and universities like Don Bosco and Colegio de San Agustin are situated near the development. Other nice features at this condo are its alfresco area, health clubs, landscaped gardens, pool deck. These are all meant to maximize your recreational time and for a little self-care, too! Units range from ₱6,492,000 to ₱11,103,000.
Don’t forget to factor in ₱2,500 to ₱10,000 for the association dues to your monthly costs. Real estate property tax in Metro Manila is at 2% of the assessed value, too. Flexible payment terms are readily available, as well. For a free consultation on a property and some financing options, you can get in touch with an Ohmyhome property agent to get started.
Accounting for groceries, bills monthly financing payments, and other dues, you’ll be looking at rough estimates of ₱50,000 to ₱80,000 a month if you’re single and about ₱140,000 to ₱170,000 a month if you have a family of four. These costs vary, of course, after you’ve paid your down payment and are actually going to move into a unit.
Metrobank Group’s First Metro Investment Corporation still believes that the Philippines will record 6% to 7% Gross Domestic Product growth. It also projects the country attaining USD4,000 per capita by 2023. We have a much better property climate here than some of our Asian neighbors. In the end, it’s all about the bigger picture for the Philippine condo market. But a home in the Philippines’ leading financial center almost always gets great returns.
An Ohmyhome property agent is always here to answer all your questions and address any of your concerns.
For more information, visit Ohmyhome.com now or download the official Ohmyhome app today!
Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.
Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.
Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.
The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.
Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.
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