One of the most common investment questions nowadays: is purchasing condominium units truly a wise investment?
The Philippines is definitely enjoying a major surge in real estate growth with developments currently being built and those still lining up. The rise in the number of residential buildings makes it more attractive to people who have their eyes set on property ownership or investment.
As a booming metropolis, Cagayan de Oro continues to support the increasing investment opportunities coming in that led us to be on the 2nd spot of being the Most Competitive City in the Philippines for 2014. One of the sought-after developments in the city are the number of condominium buildings.
For the savvy investor, a good investment is one that yields the highest return on investment (ROI). But are condominium units considered a sound investment?
Here are some reasons why you should consider purchasing a condominium unit:
- Condominium buildings are mostly situated in prime locations (in between hospitals, malls, restaurants, etc.). This results to a premium resell price or monthly rental. Take for example Primavera Residences. Residents who opt to rent out their units can enjoy up to 8% rental return per annum.
- Developers such as ITPI Corp. can help you go through the process of renting out your unit through an in-house Asset Management Program. This ensures a convenient and hassle-free handling of your units for rent and assures you that your unit is secured, occupied and of course, enjoying good earnings.
- One of the biggest perks of condominium ownership is that the individual owners enjoy the support of the condominium association and the developer in the maintenance of the building, common areas, and facilities.
- In a research by a property listing site lamudi.com.ph, it shows that 69% of Filipinos prefer to rent than to buy. Therefore, properties for rent have bigger chances of being booked for long term rentals, assuring a steady stream of income for the property owner.
- Condos offer amenities like pools, gyms, gardens, and so on. As for Primavera Residences, you can have your parties at its Multi-pupose Hall, relax at its overlooking swimming pool, be fit and healthy at its indoor gym, and be at par with nature in its indoor courtyard. These are major bonuses for renting or reselling.
Reselling or renting out a condo unit is a good investment opportunity to increase your monthly income. Since there is a noted boost in housing demand and a rise in Philippine tourism, the outlook for property investments is looking better than ever. It has also been observed that tourists consider condos as better alternatives to hotels due to affordability, a more homey ambiance, and additional kitchen amenities.
Developed by Italpinas Euroasian Design and Eco-Development Corporation, Primavera Residences is the first eco-friendly condo property in Northern Mindanao. It has two 10-story towers with commercial and residential units that are ready for occupancy. It was recognized the Best Mixed-Use Development in the Philippines by the International Property Awards at the recent Asia Pacific Property Summit in Kuala Lumpur.
For inquiries on how to rent or invest, call 09177942221, 09173213321 or (088) 880-8002; or visit www.primaveraresidences.com.
