The real estate market is green and thriving in the Philippines. Smart investors are taking their chances in this region due to its enviable economy, rising population, technological advancements, and high level of urbanization. Buying a residential property like a condominium in the Philippines is possible even for non-licensed, foreign investors.
However, like every other investment, staking your bets on condominiums in the Philippines can be a lethal risk. Foreigners are not permitted to own lands in this region. Condos also appreciate at a slower rate than most properties. Regardless, Smart investors understand that it is worth trying if the pros tend to outweigh the cons. Let’s see why it is a great idea to invest in condominiums in the Philippines.
Five reasons to invest in Condominiums in the Philippines
The basic aim of any investment is to maximize income. In the Philippines, there is a current upsurge in the population of young people due to several factors like industrialization and technological advancements. This creates a simultaneous rise in demand for condos in the real estate market. In some areas like Metro Manila, a condo’s annual value can rise by over 10%. With the help of a professional realtor company like AXE Real Estate, there is no better time to enjoy maximum income from such a profitable investment.
Condos in the Philippines have more security measures than many other properties. With the rise in population, people naturally want to live in areas where their safety is assured. Condos in the Philippines are equipped with security and CCTV cameras that function all day long. Security guards can be easily spotted around the vicinity, especially at blind spots. There are also smoke alarms and fire sprinklers placed in every hallway. As a result, leasing or selling such a property is a lot easier.
Most condos in the Philippines are situated near commercial areas. Some condos even share the same building with schools or offices. People who reside here enjoy easier access to facilities like hospitals, restaurants, cinemas, and malls. Interestingly, most people who rent or buy properties around these areas appreciate having access to such facilities. They also prefer places close to their workplace, hence putting a condo as their most preferred choice.
The nature of jobs available influences the prevalent population in the Philippines. This working population invests time in their daily hustles and is willing to pay to enjoy the best available amenities for their optimum comfort. A condominium allows users to enjoy such convenience as amenities like gyms, spas, pools, ATMs, playgrounds, and lounges. As an investor, this comes as an advantage in attracting buyers and tenants. Buying a condo with desirable amenities can be a lot easier with the help of AXE Real Estate.
One of the turn-offs for real estate investors is the cost of maintenance. Condos in the Philippines are an exception – the cost of maintenance of the property is shared. Buyers are most likely to worry about their interiors only, as an association fee paid to an administrator covers exterior maintenance. This maintenance plan makes it a mouth-watering investment option.
The theory, “every investment is a risk,” is also true for buying Philippine Condos. In this article, we have elaborately stated the reasons you should consider taking this chance. Nevertheless, it is important to consult a reliable professional before investing.