Investing in real estate gives you the luxury of sitting pretty while your properties keep rising in value. You can generate passive income from short or long-term rentals. Once the value is high enough, you can flip your property for profit. However, some properties sell better than others. When choosing between condo units, townhomes, or houses and lots, which factors should you consider?
Investing in Condo Units 101
There’s plenty of optimism in Philippine real estate today. According to Colliers Philippines, demand for luxury homes, including high-end condo units, is on the rise. Despite coming in from a global pandemic, demand for residential units in Metro Manila continues to outpace supply. But does this mean you should join the bandwagon and invest in luxury condo units? If you have the money, by all means! However, there’s a catch in buying high-end residences in in-demand locations such as BGC and Makati. When property prices are already sky-high, the rise in value slows down considerably. Sure, prices will still go up, but developers and investors know better than to price their assets out of the market.
As beginning investors or homebuyers, the key is looking for condo units with values that have room to grow. This means checking out locations that offer lots of potential. Instead of paying premium market rates, look for condo units with lower prices that can end up as better value. For this reason, go beyond Makati, BGC, and to some extent, Ortigas. Developers and owners already set the prices high here knowing that demand is there. For the wise investor, check out the areas that offer the same potential as the above areas. For example, check out Mandaluyong.
Mandaluyong and Greenfield District: A Hive of Activity With Plenty of Potential
Mandaluyong City is just right beside the famed Ortigas Center. In fact, some of Ortigas Center’s famous residents are actually Mandaluyong-based. Take Shangri-La Mall, SM Megamall, and San Miguel Corporation’s head office complex. Further south is Pioneer Street, a district stacked with tech buildings hosting plenty of Business Process Outsourcing (BPO) companies. Across Shaw Boulevard lies another master-planned community: Greenfield District.
Greenfield District is a mixed-used development that sprang from the ashes of manufacturing plants and public markets. Now, it’s a self-contained community that is home to modern offices, a thriving weekend market, shopping and dining establishments, a thriving nightlight, and plenty of urban residential options. The latter includes Greenfield Development Corporation’s Zitan.
Zitan: Modern Condo Units in an Unbeatable Location
Greenfield Development, through its subsidiary Equus Property Venture Inc., offers Zitan, a flagship development within the Greenfield District. The single-tower structure offers a total of 704 studio and one-bedroom units.
Why We Like It
Location-wise, Zitan is near to almost anything an urban warrior will need. Access to transportation? It’s right at the corner of Shaw Boulevard and EDSA, which means easy access to the MRT railway system (Shaw Station). Commuting to nearby business districts takes minutes and not hours, including Ortigas (5 minutes), BGC (10-20 minutes), and Makati (30 minutes via EDSA). This central location is more than enough to make it the preferred residence for professionals with proclivities to hop across jobs around Metro Manila.
It’s not all business with Zitan of course. For those in need of rest and relaxation, plenty of options are available once you step outside. EDSA Shangri-La Mall is across the street, while within Greenfield, plenty of dining, drinking, and leisure establishments can keep you fed, watered, and entertained. Venture a bit further and you can sample the nightlife at the nearby Kapitolyo district or along Shaw Boulevard. For those who prefer staying home, amenities such as the swimming pool, fitness gym, and children’s play area can give you a good workout.
Zitan also prides itself as a future-proof residence. Recognizing that today’s employees have options to work at home, Zitan condo units feature ultra-fast Fiber-to-the-Home (FTTH) technology via their preferred service provider. In addition to superior broadband, Zitan homeowners can incorporate smart home functions into their daily lives. This includes app-controlled lighting and climate control, remote security services, and the use of Internet of Things (IoT) appliances.
Things to Consider
Zitan offers a premium location at a very attractive price point. A studio unit measuring 334.86 square feet costs only P4.64 million. Meanwhile, a corner one-bedroom unit measuring a generous 728.77 square feet is priced at P8.51 million. With Ortigas Center already filling up, Greenfield is ready to fill in the demand for more offices and residences. As soon as that happens, Zitan’s ready-for-occupancy condo units offer a potentially bigger payout.
For the would-be resident, Zitan offers a very convenient location. Whether commuting via public transport or driving your own vehicle, you’ll have excellent access to other business districts and the rest of Metro Manila. Renting out your property to long-term users can be an excellent source of income and help pay the mortgage.
Investing in Condo Units at Zitan? Act Now and Don’t Sit On It!
Would you like to know more about Zitan and other properties in Mandaluyong City? Don’t tire yourself out by browsing individual developer websites or calling multiple numbers. Let Ohmyhome Philippines take you on a guided tour of all the condo units and homes your heart desires. With Ohmyhome, you can narrow your search by specifying your preferred location, house type, turnover date, and budget.
Visit us today to get access to Ohmyhome’s network of real estate professionals and customer service teams. They’ll happily give you valuable property advice, help you find great financing options, and help you with your documentation and other requirements. Sign up for a free account today for the complete home buying experience!