Metro Manila, the Philippines’ capital region, is a bustling metropolis with a population of over 12 million people. The real estate market in this area is constantly growing and evolving, making it a prime location for investment. One of the most popular property types in Metro Manila is the condominium. In this blog post, we will take a closer look at the benefits of buying a condominium in Metro Manila.
- Location, Location, Location – One of the biggest benefits of buying a condominium in Metro Manila is the location. Many condominiums are located in prime areas such as Makati, Bonifacio Global City (BGC), and Ortigas Center, which are known for their central location, modern infrastructure, and high-end commercial and residential developments.
- Amenities – Condominiums in Metro Manila often come with a wide range of amenities, such as swimming pools, gyms, and playgrounds. These amenities provide residents with a comfortable and convenient lifestyle, and also add value to the property.
- Security – Another benefit of buying a condominium in Metro Manila is the security. Many condominiums have 24-hour security guards and CCTV cameras, which provide residents with peace of mind.
- Maintenance – Buying a condominium also means less maintenance for the owner. Condominiums often have maintenance staff that take care of the common areas and amenities, and the homeowner association (HOA) takes care of the maintenance of the building.
- Affordability – Condominiums in Metro Manila are often more affordable than house and lot properties. For example, the average price of a condominium unit in Makati is around PHP 15 million (about $300,000), while the average price of a house and lot is around PHP 50 million (about $1 million).
- Rental income – Buying a condominium in Metro Manila can also provide a source of rental income. Many expats and young professionals are looking for short-term rental options in prime areas, which can provide the owner with a steady stream of income.
- Community – Living in a condominium also means being part of a community. Condos often have a sense of community and shared spaces, which can be a great way to meet new people and make friends.
- Appreciation – Condominiums in Metro Manila have been consistently appreciating in value over the years, making it a great investment for buyers.
In conclusion, buying a condominium in Metro Manila is a great option for those looking for an affordable and convenient way to live in the city. The location, amenities, security, maintenance, affordability, rental income, community and the appreciation value of the property are some of the benefits that make buying a condominium in Metro Manila a smart investment. Keep in mind that it is always best to consult with a real estate professional and conduct thorough research before making a decision.