Common Payment Options when Buying a Philippine Property

RCBC Telepay infographic

For first time home buyers, investing in real estate needs serious consideration. Before purchasing a property, a buyer needs to know the common payment options made available to him so he can weigh in his choices and get his money’s worth. Here’s a brief run-through of the common payment options when buying a property in the Philippines.


1.      Through the Pag-IBIG fund

For the lucky individuals who are members of the Pag-IBIG fund, you can simply apply for a loan and they will take care of your payments to the real estate developer. This government organization also has its own set of systems, which include paying through credit card or though Globe G-Cash for easy payment. You may refer to their site for more information.

Here’s a small trivia. This office whose primarily role is to help Filipinos build a house for their families through its Home Development Mutual Fund is now just widely known as Pag-IBIG. Does anyone still know what this actually stands for? The acronym actually stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko Industriya at Gobyerno.

2.      Through the bank

The most conventional route would be through bank financing. This course can be tedious for people who do not have enough financial history with all the paperwork needed. But already, banks have designated specialized staff whose job is to make people’s lives – where business transactions are involved – easier. The queue for these tables are usually shorter too so it isn’t much of a hassle.

3.      Through in-house financing

In this type of payment scheme, home buyers directly pay their monthly amortizations to the property developer.  One of the advantages of this option is that it requires less paperwork compared to the other schemes, thus making the processing of payments faster. The downside of this is that it requires higher interest rates.

In Primavera Residences’ case, options 2 and 3 are made available to property buyers aside from spot cash and deferred payments. Overseas Filipino Workers (OFWs) who would like to purchase a condo unit at Primavera Residences from abroad through the in-house financing scheme can do so via RCBC’s Telepay remittance service. Recently, Primavera Residences developer Italpinas Euroasian Design and Eco-Development Corp. (ITPI) signed an agreement with the Rizal Commercial Banking Corporation (RCBC), allowing condo buyers to pay for their purchased unit through this remittance service. Through this option, a buyer only needs to fill up a form in any of the RCBC Accredited Telepay Centers all over the globe, and pay according to schedule.

These are just some of the options that property buyers need to consider when buying the home of their dreams. Whatever option you pick may entail some efforts on your part. But it does really feel good coming home to a space you can call your own.

Primavera Residences, Mindanao’s premiere green building, is avant-garde not only in its promotion of condo living in now bustling Cagayan de Oro, but also in its advocacy of sustainable development, promising a high-performance design that allows for minimizing the buildings’ impact on the environment.

When it comes to investing in real estate in Cagayan de Oro, condo buyers might want to consider Primavera Residences.


Get More than Your Money’s Worth at Primavera Residences

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Not so long ago, I learned that a friend was invited to join a conference on urban development in Colombia. Why you? was my initial reaction. Sure, he works for the CdO city government but our country definitely has other bigger metropolises.

Well, Cagayan de Oro is internationally recognized as one of the country’s rapidly developing cities, he said sipping his coffee and looking at me as if to ask where I have been hiding in the past years.

That was definitely news for me. I have known that there are real estate developments happening in CdO. But I was just thinking that maybe it was because of the population increase. Of course, with more people around, more houses are needed to accommodate them. I never really considered why there are suddenly more people around. Sure, CdO is obviously a business hub, the center of Northern Mindanao. But I didn’t know the extent of the impact of the city’s growth.

Now come to think of it, lately we have seen an influx of people coming from far provinces, seeking for employment in the city. Business Process Outsourcing, which comprises a large part of the Philippine economy at the moment, is expanding in the city for one.

Complementing this real estate development, the uptown area of the city is fast becoming self-sufficient. All the conveniences of living and conducting business is already there – mall, schools, and active neighborhoods – free from the downtown congestion of the city.

Primavera Residences, located in Uptown CdO, is convenient for this particular engagement. Developed by Cagayan de Oro property developer Italpinas Euroasian Design and Eco-Development Corp. (ITPI), the environment-friendly building is a mixed-used property with office and commercial units comprising the lower floors, and private residences filling up the upper levels.  It provides a unique and wise investment for property buyers because of its prime location and green features. Residents at Primavera Residences can save up to 20% in energy consumption because of the building’s unique and sustainable design. Since it is located in the uptown part of the city, home buyers are provided with easy access to modern conveniences like commercial establishments. In fact, SM City CdO is just walking distance away from the property. One of the major call centers in the country is also located just some paces away.

As the city creaks and flexes under greater developments, it would be wise for investors to foresee the direction of its expansion. If not already an economic power pack, Cagayan de Oro is set to mobilize the economic potentials of Northern Mindanao and the nearby regions. Therefore, when it comes to real estate investing in CdO, getting more than your money’s worth is an important factor to consider.

For more information about Primavera Residences, check out its website here.


Primavera Residences Offers Sound Investments in Cagayan de Oro with Buy-To-Rent Units

condo unit at Primavera_resized

As Cagayan de Oro becomes one of the country’s most progressive cities, consumer demand for accommodation opens up a lot of opportunities for additional income. Serviced condo or condotel units are now turning out to be good buy-to-rent property investments. In another pioneering move, Primavera Residences, Cagayan de Oro’s internationally-awarded eco-friendly condo property, announces the launch of its serviced condos for short to extended stays.

“A serviced condo combines the flexibility of ownership with hotel-like services such as cleaning, maintenance and security. Unit owners have the option to rent it out to short-term or long-staying guests,” explained Primavera Residences general manager Cheryll Barriga.

Serviced condos are a solution to typical short term or relocation housing needs, she continued. Typically larger than hotel rooms, condos are less expensive and homier options for those on business trips or long-term project assignments. Families will find one- or two-bedroom units with fully-fitted kitchen ideal.

“Owning a condo unit is a very sound investment especially at Primavera Residences, as we have a management team taking care of security and maintenance of the units. For short-term lease, maintenance of the unit is covered by Primavera Residences for a maximum stay of three days,” she added.

kitchen amenities at Primavera_resized

“Currently, we have 20 unit owners who have opted to join our asset management program. All the units are fully-furnished with kitchen, cable TV, refrigerator, and aircon. Amenities include a green inner courtyard, 24-7 security, CCTV, pool, gym, function hall, laundry station, and twin elevators. There are restaurants on the ground floor. Located in flood-free uptown CdO beside SM Mall, Primavera Residences is the safest part of the city and very near all the important places like schools. In fact, just across Primavera Residences is the biggest BPO company in Northern Mindanao, which is Concentrix.”

According to Barriga, unit buyers at Primavera Residences are guaranteed top quality products and service at affordable prices. To market rental, the team is forging a partnership with top e-booking sites such as Agoda, and Lamudi. Sales and rental at the property is handled by its developer, Italpinas Euroasian Design and Eco-Development Corp. (ITPI).

With a 30% full down payment under the in-house financing, condo buyers can already move into their purchased property. Once the unit owners have fully paid their purchased property, they can rent it out to short- or long-staying guests. Renting out their paid unit can earn them up to P40,000 per month in revenues. Monthly rentals range from P20,000 to P25,000 for studio units; P30,000 to P35,000 for a one-bedroom serviced condo and P35,000 to P40,000 for two-bedroom units. Rental rates depend on the unit’s furnishings. A fully furnished unit with additional amenities like WiFi connection gets the maximum rental.

As the building is designed to be energy-efficient, unit residents save 20% in energy consumption and 32% savings in aircon use. The installation of solar panels will further reduce electricity costs for the building as the energy from the solar panels will power the common areas.

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 09177921080 or (088) 310-8173; or visit

ANNOUNCEMENT: March Social Media Contest Winners!

primavera social media contest


Hey, are you enjoying your summer yet?

If you’re one of the winners for Primavera Residences’ #AnticipatingSummer social media contest, your summer is about to get even better. Two participants will each win P500 worth of gift checks from SM Department Store.

We have received a total of 56 official entries and these were judged based on the following:

  • 50% — judges’ votes (criteria: uniqueness, creativity, and overall impact)
  • 50% — public vote

So without further delay, we present to you our March social media contest winners:



First winner:



The judges all loved the wonderful combination of sea, sky, and sun, plus the perfectly captured moment between dog and human. As one of the judges puts it, “It represents living in balance with nature to a T.”

Second winner:



Garnering the highest number of likes in the official FB page of Primavera Residences, Mr. de Lara’s entry is undoubtedly the fan favorite.

CONGRATULATIONS to Mr. Gel Abao and Mr. Manny de Lara. To claim your prizes, kindly send us a private message in Facebook.

We’d also like to thank all the participants for joining Primavera Residences’ #AnticipatingSummer contest. Please stand by for updates on our next social media contest. We have more exciting contests coming up!

To know more about Primavera Residences, the internationally-awarded property in Cagayan de Oro, go here

Congratulations to the February Social Media Contest Winner!

Want to win fun and exciting prizes every month? It’s super easy! Just visit the official Primavera Residences Facebook page and join the monthly contests.

For February this year, we asked everyone to send their Valentine selfies with the Primavera Residences building or booth in the background.


We received several entries, but the entry submitted by Mr. Shim Suan and his family won our hearts and garnered dozens of likes from the Facebook community.

Suan family
The winning entry

As the selected February social media contest winner, Mr. Shim Suan and family won a dinner date courtesy of Primavera Residences.

Here are some photos from their family dinner date at Barkadahan Grill in Primavera Residences. The entire family claimed the prize last Sunday, March 30.


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Thank you so much, Suan family!

Many thanks also to the management and staff of Barkadahan Grill Pueblo for the assistance and support.

Like the official Primavera Residences page on Facebook and stay tuned for our monthly contests and freebies!

Know more about the multi-awarded Primavera Residences by clicking this link. 

Primavera Residences and Cagayan De rro Businesses Attend The 2014 DPC Business Forum

In a bid to promote digital marketing to entrepreneurs in Cagayan de Oro, Directories Philippines Corporation through its e-Yellow Pages arm recently gathered CDO businesses in a  two-day forum held last February 6 – 7, 2014 at the function room of Mesa Restaurant in Centrio Mall.

The event was attended by representatives from various Cagayan de Oro companies including Primavera Residences, the multi-awarded  mixed-use condominium complex built in uptown CDO.

The Philippine digital landscape

The forum stressed the importance of digital media in today’s business environment, citing the following significant facts about Filipino consumers on the web:

  • 45% of filipinos use the internet
  • 33.6M access the web via desktop
  • 27.8M Facebook users
  • 8.1M mobile internet users
  • Average time spent on the internet: 21.5 hours per week
  • 81% of Filipino internet users use search engines

For a company’s presence to be felt in the internet, businesses must capitalize on these data and create an effective digital marketing plan.

Mindanao’s first multi-awarded green building

Ms. Cheryll Barriga, the General Manager of Primavera Residences, also spoke during the event about the 10-storey twin towers in uptown CDO.

“Primavera Residences, which takes inspiration from the natural ventilation scheme of a termite mound, has been lauded for its unique design. The cross-ventilation system creates constant air circulation and integrates passive cooling techniques with on-site production of renewable energy,” says Ms. Barriga.

“These features, together with its prime uptown location and proven real estate appreciation of more than 10% per annum makes the property a very valuable investment,” she added.


See photos below taken during the DPC Business Forum.

 primavera residences during dpc event

dpc business forum 2014 with primavera residences

 dpc event


Know more about the uniquely-designed green condominium in Cagayan de Oro by visiting this page.


Share a Wish and Win Luxury Accommodation and Spa Experience!

Primavera Residences Christmas Contest  2013

What inspires you this Christmas? We’d love to know! Share your wish at using the hashtags #shareawishph #PrimaveraResidences and get to win amazing prizes!

There will be two major prize winners:
  • The Popular Wish, with most number of likes
  • Our Favorite Wish, meaningful, has impact

There will be two (2) Major Prize Winners of 2-Night Luxury Accommodation and Spa Experience at Primavera Residences (good for two, with breakfast) plus 10 winners of Primavera Gift Items

Sounds good? Wishes will be judged by our top bloggers and media partners, so to see your name in shining Primavera lights, start wishing and start sharing now. 

Contest ends December 31, 2013.


Home Entertainment Holiday Giveaway by Primavera Residences

‘Tis the season to be giving and to have fun! This holiday season, Primavera Residences combines both to present you with a Holiday to Remember

We’re giving away six 39’ TV plus Home Theater System and a FREE 100K  personal accident insurance to six lucky respondents; as well as many other gifts and prizes to the rest of our friends!


Home Entertainment Holiday Giveaway at Primavera Residences  Home Entertainment Holiday Giveaway

Exciting, right? But how do I claim my gift, you might ask

Simply enter your information on the form below, and expect a call from us within 24 hours

This offer is good until 31 December 2013 only


Enter your information below to find out how to claim your Home Entertainment Holiday Gift

Make sure to enter your name, email and phone number

[contact_us type=”form”]


Green building and sustainable architecture in a climate change-challenged world

YOLANDA REHABILITATION EFFORTS have attracted this Italian architect and expert on sustainable architecture and green building. He’s offering to contribute his skills to help rebuild Leyte and the other parts of Eastern Visayas that have been recently devastated by the super typhoon.

Watch how ITPI Corp. (ItalPinas Euroasian Design and Eco-Development) incorporates green building and sustainable architecture principles in its developments throughout the building life cycle.

Watch a short video clip on how ITPI uses performance-based design software to design sustainable buildings: