Condominium. Worth ba?

Crisar · Sep 6, 2009, 11:16 AM

Guys, we're planning to buy a condo in Makati. Anyone heard of Knightsbridge and Gramercy under Century Properties? Is it worth to buy a 27sq/m with single room worth 3-3.5M currently in pre-selling stage as an investment property?

Aside, what consideration should I make?

Thanks.

***KuyaDanny*** · Sep 6, 2009, 11:38 AM

Considerations:

1) Do you like the location?
2) Do you like the management?
3) Do you like the facilities?
4) Is the building well made?
5) Can you afford to pay for it?

If you are not going to live in it, but will rent it out?

1) Is there a high demand for the units?
2) How much might the unit rent for?
3) How quickly can you make your money back?

If you are going to sell the unit after a few years:

1) How is the supply of comparable units in the area?
2) Will your unit be easy or difficult to sell when you want/need to?

Crisar · Sep 6, 2009, 02:12 PM

Considerations 1, 2, 3 seems OK. For the building, I assume they have a very reputed architects and engineers.

It’s probable there would be high demand. But what do you think KuyaDanny after 2013? Can you share your forecast 4 yrs. from now in relation to real estate, especially condo? The unit may command Php30T-35T/mo. I understand that’s the going rate. And how quickly, it would probably depend if I have it leased for a few years and sell or sell outright after turnover.

And supply is dwindling, 90-95% preselling units sold for this building. Since they have their own property management group, leg works would be covered.

Think I will search further. But hey, thanks for the notes.

***KuyaDanny*** · Sep 6, 2009, 08:16 PM

Supply does not just mean the units available in that project. Supply also means units in neighboring buildings, including those which are not even built yet.

If the site is surrounded by vacant lots, a new condo project in the area can increase the supply of units in the vicinity. If that supply becomes available at the time you need/want to seel your unit, the price of your own unit could be affected.

gee.man · Sep 6, 2009, 10:22 PM

Just bought a condo unit.. Never had any consideration other than wanting a place of my own and a roof above my head!

albert_b · Sep 6, 2009, 11:09 PM

If I am to buy a condo, it has to be very close to work. I am more into having my own land.
So make it part of your checklist :-)

Crisar · Sep 7, 2009, 04:18 PM

We already have 2 houses and few lands. That's finish in my checklist.

I've considered condo as an investment only, partially, an accomodation as case to case and also part of inheritance to my kids someday.

enzoulken04 · Sep 7, 2009, 04:50 PM

mas ok ang bahay..compare sa condo..sabi ng friend ko..ang condo naluluma..ang bahay pwede mo improve lagi..

May27 · Sep 7, 2009, 09:30 PM

i heard that buildings are only gud for 50yrs... either it should be renovated or be sold and demolished for new structure (but the unit owners will share for the sold price).
paki-correct na lang if i'm wrong... =)

Aceche · Sep 8, 2009, 02:25 AM

Yeah some people like me would prefer homes homes with land rather than condos especially high ones like Gramercy/Knightsbridge (dont really like heights due to fire and quakes) but its not a bad idea as an investment if in good location and demand, and as long as you have the finances sorted. I probably would go for the ones along Roxas in the bay area due to the development plans there esp. the SEA at MOA (nevermind the boxy building design) which will be very near the PAGCOR projects (which hopefully will push through) which will include the casino, aquarium, theme park, concert venue, etc, not to mention MOA itself, the baywalk, and other venues in the area.

***KuyaDanny*** · Sep 8, 2009, 09:13 AM

Quote:

Originally Posted by enzoulken04

mas ok ang bahay..compare sa condo..sabi ng friend ko..ang condo naluluma..ang bahay pwede mo improve lagi..

1) Ang bahay naluluma rin.
2) Ang building pwede mo rin i-improve. In the case of the condo building, all the unit owners share in the cost of the improvements.

albert_b · Sep 8, 2009, 12:00 PM

Quote:

Originally Posted by Crisar

We already have 2 houses and few lands. That's finish in my checklist.

I've considered condo as an investment only, partially, an accomodation as case to case and also part of inheritance to my kids someday.

Medium term investment lang tingin ko sa kanya Crisar. If you want something na would still be there for your grand children, let them inherit land.

Pero kung gusto mo pagkakitaan ngayon then sure go ahead ka lang with your condo purchase.

--SuperBoy-- · Sep 8, 2009, 01:22 PM

condo as real estate investment in the phil i think is in it's infancy staga pa rin kaya may mga notion na supposedly it's not a good investment. more mature markets like HK and NY, hindi bumababa ang value ng condo but it goes up basta nasa magandang location. actually, mas mahal pa ang mga medyo may history na na condos basta well-kept.

i think, since paubos na ang lupa sa MM, soon the market will mature at maiiba na rin ang tingin sa condos as investment, mawawala na ang mga maling notion.

but the key is location...

Crisar · Sep 8, 2009, 02:28 PM

Quote:

Originally Posted by Aceche

Yeah some people like me would prefer homes homes with land rather than condos especially high ones like Gramercy/Knightsbridge (dont really like heights due to fire and quakes) but its not a bad idea as an investment if in good location and demand, and as long as you have the finances sorted. I probably would go for the ones along Roxas in the bay area due to the development plans there esp. the SEA at MOA (nevermind the boxy building design) which will be very near the PAGCOR projects (which hopefully will push through) which will include the casino, aquarium, theme park, concert venue, etc, not to mention MOA itself, the baywalk, and other venues in the area.

Yeah, a lot are accesible with Roxas Blvd, but still Makati is the center. Considering market value and leasing, here is more advantageous.

And as for my preference, the Makati and Ortigas skyline is maybe better than Manila ang Pasig.

Crisar · Sep 8, 2009, 02:38 PM

Quote:

Originally Posted by albert_b

Pero kung gusto mo pagkakitaan ngayon then sure go ahead ka lang with your condo purchase.

Quote:

Originally Posted by --SuperBoy--

.....

i think, since paubos na ang lupa sa MM, soon the market will mature at maiiba na rin ang tingin sa condos as investment, mawawala na ang mga maling notion.

but the key is location...

Yeah. However, my concern is, is Knightsbridge by Century City better than the others? Say, Rockwell, One Central, the Residence or the Stratford Residence?

--SuperBoy-- · Sep 8, 2009, 07:28 PM

I would say one central is a better project because of it's location. its really within Makati CBD not outskirts of Makati tulad ng Knightbridge. not to put KB down but it's in kalayaan... not even in makati ave. condo units along makati ave has lower resale price than those within salcedo or legaspi. what more kung sa kalayaan sya? technically, sana looban na sya. not to mention na super traffic sa makati ave. gramercy actually maganda yung promise ng building. but then again, it's just a promise. century has a reputation now na medyo di maganda hehe. bukod pa sa they uses gypsum board to separate the units... for me ha, for me lang po... it's a big no-no. parang karton lang ang pagitan nyo ng kapitbahay mo. i still go for CHB!

the residences of course will be the best choice, it's ayala, across greenbelt, what more can u ask for? kaya lang super mahal bukod pa sa malalaki ang cut.

just my two cents!

Hase · Sep 9, 2009, 02:12 AM

Quote:

Originally Posted by Crisar

Guys, we're planning to buy a condo in Makati. Anyone heard of Knightsbridge and Gramercy under Century Properties? Is it worth to buy a 27sq/m with single room worth 3-3.5M currently in pre-selling stage as an investment property?

Aside, what consideration should I make?

Thanks.

27 sqm wow ang mahal at ang sikip siguro nito.ako pa sa iyo bili ka nalang ng lupa worth 1m.(laki na siguro nito)tapos yong 2.5m. pagawa mo nang bahay may malawak na garden kapa at may kalakihang bahay (depende kase sa bahay).

Crisar · Sep 9, 2009, 01:58 PM

Seems like almost lahat oppose.

Anyway, is it true that they will not use concrete between pods?

How reliable is your source? Any experience? I know the gypsum board will be used for partition between the living room and bedroom, but between pods, that's also a no-no for me.

If I play a movie or song, it sure would rock the guys next door. Gusto ko pa naman manood ng movie like you're in a theater.

lauviah · Sep 9, 2009, 04:16 PM

Im selling my condo unit in Mandaluyong, 2min walk from MRT station Boni for more or less half lang ng price. kaka-turnover lang last March 2009.
I think *** 3.5M for 27sqm is a bit pricey na, kahit within the Makati CBD pa sya.

r3ggi3 · Sep 9, 2009, 10:41 PM

Sm sea residences is definitely a good buy, though it is a little pricey na at almost P100k per sqm.


Sep 6, 2009, 11:16 AM	#1
Crisar Member Join Date: Nov 2007 Location: Centaurus Clusters	Condominium. Worth ba? Guys, we're planning to buy a condo in Makati. Anyone heard of Knightsbridge and Gramercy under Century Properties? Is it worth to buy a 27sq/m with single room worth 3-3.5M currently in pre-selling stage as an investment property? Aside, what consideration should I make? Thanks.


Sep 6, 2009, 11:38 AM	#2
*KuyaDanny* Moderator Join Date: Jan 2000 Location: Makati	Considerations: 1) Do you like the location? 2) Do you like the management? 3) Do you like the facilities? 4) Is the building well made? 5) Can you afford to pay for it? If you are not going to live in it, but will rent it out? 1) Is there a high demand for the units? 2) How much might the unit rent for? 3) How quickly can you make your money back? If you are going to sell the unit after a few years: 1) How is the supply of comparable units in the area? 2) Will your unit be easy or difficult to sell when you want/need to?


Sep 6, 2009, 02:12 PM	#3
Crisar Member Join Date: Nov 2007 Location: Centaurus Clusters	Considerations 1, 2, 3 seems OK. For the building, I assume they have a very reputed architects and engineers. It’s probable there would be high demand. But what do you think KuyaDanny after 2013? Can you share your forecast 4 yrs. from now in relation to real estate, especially condo? The unit may command Php30T-35T/mo. I understand that’s the going rate. And how quickly, it would probably depend if I have it leased for a few years and sell or sell outright after turnover. And supply is dwindling, 90-95% preselling units sold for this building. Since they have their own property management group, leg works would be covered. Think I will search further. But hey, thanks for the notes.


Sep 6, 2009, 08:16 PM	#4
*KuyaDanny* Moderator Join Date: Jan 2000 Location: Makati	Supply does not just mean the units available in that project. Supply also means units in neighboring buildings, including those which are not even built yet. If the site is surrounded by vacant lots, a new condo project in the area can increase the supply of units in the vicinity. If that supply becomes available at the time you need/want to seel your unit, the price of your own unit could be affected.


Sep 6, 2009, 10:22 PM	#5
gee.man SFIII Strikes Back! Join Date: Apr 2008	Just bought a condo unit.. Never had any consideration other than wanting a place of my own and a roof above my head!


Sep 6, 2009, 11:09 PM	#6
albert_b Member Join Date: Feb 2009	If I am to buy a condo, it has to be very close to work. I am more into having my own land. So make it part of your checklist :-)


Sep 7, 2009, 04:18 PM	#7
Crisar Member Join Date: Nov 2007 Location: Centaurus Clusters	We already have 2 houses and few lands. That's finish in my checklist. I've considered condo as an investment only, partially, an accomodation as case to case and also part of inheritance to my kids someday.


Sep 7, 2009, 04:50 PM	#8
enzoulken04 Banned by Admin Join Date: Sep 2008	mas ok ang bahay..compare sa condo..sabi ng friend ko..ang condo naluluma..ang bahay pwede mo improve lagi..


Sep 7, 2009, 09:30 PM	#9
May27 Member Join Date: Mar 2009	i heard that buildings are only gud for 50yrs... either it should be renovated or be sold and demolished for new structure (but the unit owners will share for the sold price). paki-correct na lang if i'm wrong... =)


Sep 8, 2009, 02:25 AM	#10
Aceche Member Join Date: Jul 2008	Yeah some people like me would prefer homes homes with land rather than condos especially high ones like Gramercy/Knightsbridge (dont really like heights due to fire and quakes) but its not a bad idea as an investment if in good location and demand, and as long as you have the finances sorted. I probably would go for the ones along Roxas in the bay area due to the development plans there esp. the SEA at MOA (nevermind the boxy building design) which will be very near the PAGCOR projects (which hopefully will push through) which will include the casino, aquarium, theme park, concert venue, etc, not to mention MOA itself, the baywalk, and other venues in the area.


Sep 8, 2009, 01:22 PM	#13
--SuperBoy-- Manunulat Join Date: Jan 2005 Location: Planet Krypton	condo as real estate investment in the phil i think is in it's infancy staga pa rin kaya may mga notion na supposedly it's not a good investment. more mature markets like HK and NY, hindi bumababa ang value ng condo but it goes up basta nasa magandang location. actually, mas mahal pa ang mga medyo may history na na condos basta well-kept. i think, since paubos na ang lupa sa MM, soon the market will mature at maiiba na rin ang tingin sa condos as investment, mawawala na ang mga maling notion. but the key is location...


Sep 8, 2009, 07:28 PM	#16
--SuperBoy-- Manunulat Join Date: Jan 2005 Location: Planet Krypton	I would say one central is a better project because of it's location. its really within Makati CBD not outskirts of Makati tulad ng Knightbridge. not to put KB down but it's in kalayaan... not even in makati ave. condo units along makati ave has lower resale price than those within salcedo or legaspi. what more kung sa kalayaan sya? technically, sana looban na sya. not to mention na super traffic sa makati ave. gramercy actually maganda yung promise ng building. but then again, it's just a promise. century has a reputation now na medyo di maganda hehe. bukod pa sa they uses gypsum board to separate the units... for me ha, for me lang po... it's a big no-no. parang karton lang ang pagitan nyo ng kapitbahay mo. i still go for CHB! the residences of course will be the best choice, it's ayala, across greenbelt, what more can u ask for? kaya lang super mahal bukod pa sa malalaki ang cut. just my two cents!


Sep 9, 2009, 01:58 PM	#18
Crisar Member Join Date: Nov 2007 Location: Centaurus Clusters	Seems like almost lahat oppose. Anyway, is it true that they will not use concrete between pods? How reliable is your source? Any experience? I know the gypsum board will be used for partition between the living room and bedroom, but between pods, that's also a no-no for me. If I play a movie or song, it sure would rock the guys next door. Gusto ko pa naman manood ng movie like you're in a theater.


Sep 9, 2009, 04:16 PM	#19
lauviah Member Join Date: Mar 2009	Im selling my condo unit in Mandaluyong, 2min walk from MRT station Boni for more or less half lang ng price. kaka-turnover lang last March 2009. I think *** 3.5M for 27sqm is a bit pricey na, kahit within the Makati CBD pa sya.


Sep 9, 2009, 10:41 PM	#20
r3ggi3 Member Join Date: Aug 2008	Sm sea residences is definitely a good buy, though it is a little pricey na at almost P100k per sqm.