The midst of a pandemic might not seem like the best time to invest in anything. The Philippine condominium market has faced a tremendous challenge. The slowdown in business activities as well as the government-projected rise in unemployment and drop in remittances from Filipinos working abroad are likely to result in softer demand for condominium units in Metro Manila. But some specialists, however, see opportunity in the value of investing in real estate at this time.
Opportunities are still present for the homeowners looking to invest in, live in and rent out properties for the future. Relatively stable real-estate investments are becoming more attractive with buyers wary of current stock values. According to real estate property experts in the Philippines specializing in both commercial and residential properties, real-estate investment trusts or REITs, which may help democratize the Philippine property market by allowing smaller investors to participate in high-value real-estate assets, are seen to pick up this year. (source:Colliers International Ph Report)
The real estate sector is seen to continue being a local, long-term play with attractive relative returns compared to other assets as the real estate market will naturally correct itself and will start picking up again in due time.
Location and Townships
Properties located away from but accessible to dense Metro Manila cities are eyed as the best location and those who look toward low-density areas that offer properties with green, open spaces – like Golfhill Gardens in Capitol Hills.
But for those wishing to stay in the bustling city where everything is nearer and within reach, Metro Manila remains to be a prime residential market especially with the rising advantages of townships.
Real estate giant Megaworld has long prepared for this expected upswing with its continuous planning of integrated townships nationwide. Amid the Covid-19 pandemic, condo dwellers have come across the advantages of township-living, and, given the likelihood of a pandemic happening again, the importance that your home is near to other key establishments, such as supermarkets, hospitals, drugstores, and banks has been a major factor. If it’s possible that you can access the things you need without ever leaving your community, that would be the best scenario.
Since the pandemic, condo units have also increasingly become the accommodation of choice for employees and young professionals who have started working again in CBDs but require the convenience of distance.
Flexible Payments and Property Options
Payment terms are expected to be more flexible and more attainable payment schemes are also expected to be reconsidered to sell the remaining inventory. From very low reservation fees to longer monthly amortization rates, property investors should take advantage of the available options at these times.
There has also been an increase in the number of new listings online as this could be due to the fact that brokers are maximizing online platforms to make their products visible even while on lockdown. Ultimately, this means you have a lot of choices that can match your needs and wants, depending on your reason for the purchase. For future homeowners, you can find more units in your budget range. For investors, you may stumble upon a good property located in an in-demand central business district.
Take advantage of this time to research the areas where you want to move, the area’s home values and the average selling prices for the type of home you are interested in purchasing. Familiarize yourself with real estate terms and listing abbreviations so you can easily browse listings and focus on the features that most interest you.
As the novel coronavirus continues to rage on, be a smart investor and understand the risks and rewards, Megaworld Prime RFO property specialists will help you look at your options so you can tackle your investments carefully. Not only that, Megaworld Prime RFO has continuously committed to staying connected and available for your property and investment needs through virtual home buying processes and with its improved digital efforts, you can conveniently and safely view units in virtual 360 degree walkthroughs. Talk to us today!