Manila condos are as coveted as ever now that the local real estate market’s recovery is underway. As more companies adopt hybrid working arrangements and with more schools reopening, we can expect to see more renters and buyers in the nation’s capital.
Mid-to-high-end residential projects (₱3,000,000 to ₱6,000,000 and up) have been one of the bright spots for the industry during the pandemic. This has led to developers lining up projects to facilitate the real estate market’s rebound.
Currently, the Bangko Sentral ng Pilipinas places the interest rate at 2%. This should further encourage end-users and investors to buy a condo in the middle-income segment. Asiapropertyhq.com also puts the average annual appreciation rate for condominiums in the Philippines at 5.7%.
Rental costs for Manila properties, after all, remain profitable for unit owners. According to Numbeo.com, rental costs for a one-bedroom condo in Manila are at ₱32,524.05, which happens to be identical to Makati’s at ₱34,318.18.
Whether you want to buy a condo for your next home or for your next income stream, you should look into these vertical developments.
Where to Look
In the new normal most especially, young professionals, students, and retirees value recreational amenities in the units they rent. They also value properties in close proximity to roadways and transport hubs. Swimming pools, gyms, lounges, outdoor spaces, and the like are key features for property seekers who want to buy a condo in the Philippines.
Vista GL Taft, along Taft Avenue, for instance, is situated just around the corner from top colleges like De La Salle University and the University of the Philippines-Manila. The 42-storey development is even equipped with study pods, a gym, and a pool, which should appeal to students along the university belt. Property prices here range from ₱4,878,000 to ₱9,574,000. A unit here can be yours for ₱45,293 a month.
Meanwhile, Sky Arts Manila offers much of the same benefits in terms of rental yields and opportunity. The Vista Residences development has easy access to LRT stations like Pedro Gil and Quirino. Unit prices here range from ₱5,014,000 to ₱11,691,200. Buy a condo in Manila here for ₱32,132 a month.
Vista Heights is another Vista Residences project that’s part of its University Series. Complete with a study area, gym, and more, this project offers students a condo where they can access all their needs. Buy a condo here from ₱4,256,440 to ₱7,336,560. Monthly amortization is at ₱39,553.
With property prices projected to increase by 1.5% while rental rates could see a 1.7% spike this year, Manila condos can be the property investment you need to grow your wealth in our new normal. Capitalize on vertical developments in prime property spots like U-Belt with leisure amenities, direct access to transportation options, and more.
Book a free consultation with an Ohmyhome property agent today to get started! For more information on the best and latest property listings nationwide and how our Ohmyhome’s online ecosystem helps investors like you, visit Ohmyhome.com or download the official Ohmyhome app.
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.