RENTING in Makati and BGC : Short Term and Longer

[drbubb]

RENTING in Makati and BGC, Philippines : Short Term and Longer

This this is to look at various accommodation options in the area of Makati, and BGC.

We will look at the opportunities from both the Tenants and Landlord's perspective ... PB :

 

The Main internet resources for those seeking to rent in Makati are:

OLX ------ : http://olx.ph/all-results/q-condo-for-rent-makati/

Rentpad : http://rentpad.com.ph/long-term-rentals/makati/apartment

Lamudi--- : http://www.lamudi.com.ph/national-capital-region-ncr/metro-manila/makati/condominium/rent/

Mitula----- : x

Zipmatch- : http://www.zipmatch.com/listings/condominium-for-rent-at-avida-towers-san-lorenzo-in-makati-city-25613?utm_source=mitula&utm_medium=feed

ALI Leasing : Alveo : Avida :

MyProperty : http://www.myproperty.ph/properties-for-rent/apartments/makaticity-manila

Housing I.A.: http://www.housinginteractive.com/residential-properties

Expatriates : http://www.expatriates.com/classifieds/phl/housingavailable/

AirBNB/hotel : 46-Hotels : TripAdvisor : AirBNB

Please let us know, if you hear of other good websites.

For instance, the major developers (like Ayalaland) have their own websites, and rental management affiliates,

to steer people towards renting properties they have built.

MAKATI is the Prime Location:
Makati is the main CBD of Metro Manila and the Philippines with most headquarters of Top corporations.

As well as 6 five star-hotels, close to 3,000 dining establishments, the hottest nightspots and the country's top shopping malls are located. While residents get full access to the exhilarating makati lifestyle, schools, churches, banks, embassies and the Metro Rail Transit (MRT) station are just a few minutes away.

 

: : HISTORICAL RENT LEVELS: (3 BR flat)

RENTALS : Makati, Bonifacio, Rockwell to Q3 - 2016 : source

Qtr /Year : CapVal.: Yield%: MMidpt: QonQtr : YonYr / Lo - Makati - H / L-Bonfacio-H / L-Rockwell- H /
3Q /2012 : 116.0k : 7.32% : 0,708 : +1.2E% : +5.0E% / 0,525 - 0,890 / 0,568 - 0,850 / 0,677 - 0,950 :
4Q /2012 : 118.0k : 7.32% : 0,720 : +1.69% : +7.0E% / 0,525 - 0,915 / 0,570 - 0,865 / 0,686 - 0,912 :
1Q /2013 : 123.8k : 7.12% : 0,735 : +2.08% : +8.0E% / 0,540 - 0,930 / 0,580 - 0,890 / 0,700 - 0,930 :
2Q /2013 : 128.7k : 7.27% : 0,780 : +6.12% : +11 E% / 0,545 - 1,015 / 0,590 -0,940e/ 0,705 -0,970e:
3Q /2013 : 132.0k : 7.27% : 0,800 : +2.56% : +13.0% / 0,550 - 1,050 / 0,600 - 0,990 / 0,710 - 1,000 :
4Q /2013 : 134.9k : 7.16% : 0,805 : +0.63% : +11.8% / 0,550 - 1,060 / 0,610 - 1,010 / 0,720 - 1,020 :
1Q /2014 : 136.5k : 7.12% : 0,810 : +0.62% : +10.2% / 0,555 - 1,065 / 0,610 - 1,020 / 0,725 - 1,025 :
2Q /2014 : 138.1k : 7.13% : 0,820 : +1.23% : +5.13% / 0,560 - 1,080 / 0,625 - 1,025 / 0,740 - 1,030 :
3Q /2014 : 142.8k : 6.97% : 0,830 : +1.22% : +3.75% / 0,570 - 1,090 / 0,630 - 1,035 / 0,790 - 1,090 :
4Q /2014 : 144.5k : 6.96% : 0,838 : +0.96% : +4.10% / 0,575 - 1,100 / 0,640 - 1,045 / 0,750 - 1,055 :
1Q /2015 : 147.4k : 6.90% : 0,848 : +1.19% : +4.69% / 0,578 - 1,118 / 0,660 - 1,050 / 0,755 - 1,080 :
2Q /2015 : 149.0k : 6.94% : 0,862 : +1.65% : +5.12% / 0,588 - 1,135 / 0,672 - 1,070 / 0,769 - 1,099 :
3Q /2015 : 151.0k : 6.95% : 0,875 : +1.51% : +5.42% / 0,595 - 1,155 / 0,680 - 1,083 / 0,804 - 1,098 :

4Q /2015 : 151.0k : 7.02% : 0,883 : +0.91% : + 5.37% / 0,600 - 1,166 / 0,688 - 1,094 / 0,814 - 1,094 :
1Q /2016 : 152.0k : 6.82% : 0,865 : - 2.04% : + 2.00% / 0,590 - 1,140 /

2Q /2016 : 147.6k : 6.95% : 0,855 : - 1.16 %: - 0.11 % / 0,580 - 1,130 / 0,660 - 1,050 / 0,800 - 1,100 :

3Q /2016 : 146.5k : 6.88% : 0,840 : - 1.75 % : - 4.00 % / 0,570 - 1,110 / 0,655 - 1,040 / 0,790 - 1,080 :
YoY f'cast.: 138.8k: 6.87%: 0,795 : ---------> : - 7.13% (prev.: 0,810 - 1.85%) at Q3-17
Qtr /Yr. : Mak-Mid. QonQtr : YronYr / Lo - Makati - H / L-Bonfacio-H / L-Rockwell- H /
Makati Yield 3BR? : 4Q/ 2015 : 0,883 x12 = 10,596/ 151,000: 7.02% Yield (prev. 6.95%)

Note: Compare with the Yield on a Office: Premier : 9.14% : Grade-A : 10.03%

 

: : CL- COLUMNS, Legazpi Village / Apr. 2016

SIZE: Range SqFt / Furnished PHP: PerSF/ Unfurn.'d PHP PerSF/ F.prem

Studio 30-38: 34.0 / 35-40k: 37.5k : 1103. / 30-38k: 34.0k : 1000. / +10.3%
1 BR : 47-62: 54.5 / 50-65k: 57.5k : 1055. / 45-60k: 52.5k : 963.3 / + 9.5%
2 BR : 73-82: 77.5 / 80-95k: 87.5k : 1129. / 73-82k: 77.5k : 1000. / +12.9%
3 BR : 110.?: 110. / 110kave 110k : 1000. / 95-110: 102.k : 927.8 / + 7.8%

2Q /2015 :: 0,862 (as per above) - is just 7.1% below--------- ^ ^

=====

Historical--- : StudioF, prem : 1-BR F, prem : 2-BR F, prem : 3-BR F, prem :

CL-Aug.2015: 1103 , +10.3%: 1055 , + 9.5% : 1129 +12.9% : 1000., +7.8% :

++-Oct. 2015: 1103 , +10.3%: 1055 , + 9.5% : 1129 +12.9% : 1000., +7.8% :

++-Dec 2015: 1103 , +10.3%: 1055 , + 9.5% : 1129 +12.9% : 1000., +7.8% :
CA Ave.Sizes : 34sqM --------: 54.5sqM -------: 77.5sqM ----- : 110sqM

CA-Aug.2015: 833.3, +25.0%: 703.7, + 8.6% : 830.3 + 5.4% : N /Applicable :

++-Oct. 2015: 833.3, +25.0%: 759.3., +17.1%: 835.3 + 5.4% :
CA Ave.Sizes: 30sqM ---------: 54sqM ----------: 82.5sqM ------:

=======

> source : CL- Cols.Legazpi : CA - Cols.-Ayala :

=======

LINK to here------------ : http://tinyurl.com/MakatiRent

Lamudi, on Rental tax : http://www.lamudi.com.ph/journal/what-you-need-to-know-about-tax-on-rental-income/

IF YOU HAVE A PROPERTY in Makati, you want to rent out, you can post a description here - see format I have used in post #4

[drbubb]

Alternatives to HOTELS, when staying in Makati... Like AirBNB, VRBO etc.

 

 

Traveling to the Philippines? Maybe you would like to try renting directly from a landlord.
I have done so, using AirBNB, and other referral services, allowing me to find a room at a
price significantly below the cost of a Hotel room.

Example: Hotel Room : in HKD : in Ph. Peso / estimates, July 2015
Best Western : US$ 72 : HKD 560 = PHP 3,170 per night
City Garden - : US$ 93 : HKD 720 = PHP 4,100
Peninsula --- : US$200 : HKD1550 = PHP 8,800

Example: AirBNB : Rooms of 20 - 24 Sq meters
PHP 1,500 - 2,000 per night, Estimated that's:
USD $34 to $45 per night, Estimated
Minimum of 2 days, discounts may be available for stays of 7 days and longer.

 

: #2

If you have tried AirBNB or similar websites and wish to offer comments or recommendation,
please feel free to post them on this thread.

Here's a successful "Superhost" whom I have met:

: "VBB" : > his-website

VBB is a person whose rooms I have rented for periods of a few days to a week.
Some friends have also rented from him, based on my suggestion.
We all found his rooms to be comfortable and clean, exactly as shown in his Photos.
He was very responsive to client requests, and answered many questions cheerfully.

He has three properties that he manages in: Belton Place, Avida West Makati, and Oriental Place.

The locations can be found on the map, above. I have stayed in two of these.

Maybe you should try this mode of accommodation on a future visit to Makati and Manila.

Let us know how it goes for you, and what other accommodation opportunities you discover.

[drbubb]

NEGOTIATING with Hotels

 

If you are staying over 1-2 weeks, you might try this.

 

Many hotels will rent Rooms for one month or longer at discounted rates.

 

In my own experience, I have seen hotels willing to rent rooms for 1 month,

Usually, at between 10-14 Times the Daily rate.

You might try negotiating around these levels, and see what happens.

[drbubb]

Want to rent a brand New flat - in the Makati area?

(Here's the type of opportunity which we may highlight here)

 

"As cheap as PHP 18,000 Monthly" (Semi-Furnished )

 

There's a new flat being completed and turned over to its owner within the next few weeks.

 

===========

Description: Studio condo unit, 22sm, Brand New & Unfurnished Condo to Rent:
Close to : (see map)
Shops: Greenbelt Shopping Mall, restaurants, and fast-food outlets
Landmarks: Waltermart, Starbucks, PNR Pasay Road station
Facilities: swimming pool,
Conditions/payment: P 18,000 per month, 2 months deposit

===========

 

It is a 22.08 Square Meter Studio, in Avida San Lorenzo in Makati

This one is in Tower 2, and it is on a high floor facing the amenities.

 

:

 

It is a short walking distance from Greenbelt ("just 500m") - see map below

: vw : vid :

 

For the "bare" flat, without any fixtures or furnishings -- and on a 12 month's lease:

The owner is seeking PHP 17,000 per month (if the owner pays association fees),

and PHP 15,000 if the tenant pays association fees, that's less than Php 679 psm

 

 

Arrangements are being made now to outfit the flat, and if that is done, the Asking Rent

will be higher, depending upon what exact furniture and fixtures are provided -

so trade-offs can be discussed with a potential tenant.

 

INTERESTED?

Then, please send me a Personal Message, via this website.

(If you are not already a member, you can JOIN GEI, following the instructions HERE)

To register, you may need to know that the Favorite B--- is : "admiral byrd"

 

Note: Do not confuse Avida Tower San Lorenzo with (cheaper?) San Lorenzo Place,

which is at Magallenes station, and is further away from Greenbelt and Ayala Avenue

SanLo is just a bit further afield (+3-5 minutes walk) from Greenbelt, than Columns-Legazpi

Some also confuse it with Avida San Lazaro, which is not even in Makati

[drbubb]

Belton Place - LISTED Rentals

Type/ Size : Unfurn : Semi-F : FullyF./ FF/unf / FF.perSM
St. - 21 SM : 13,000 : 15,000*: 19,000**/ 146 % / php 0,905
1BR 30 SM : 18,000 : 21,000*: 27,500**/ 153 % / php 0,917
2BR 45 SM : 32,000 : 36,000*: 42,500**/ 133 % / php 0,944
====
1 Year leases, with 2 mos. security, 2 mos. in adv., PD cheques
* +/- about 9%, depending on view, furnishings
* +/- about 11%, depending on view, furnishings

By comparison, Unfurnished units at Columns Legazpi (CL) were fetching near PHP 1,000 /SM,

and Furnished units, were perhaps 10-13% higher.

This suggests that Columns is about 20% per SM above Belton Place.

It is not surprizing to see these flats being rented at a discount to The Columns, Legazpi, given:

========

+ Location, further from Greenbelt and most of the offices on Ayala Avenue, and

+ Lower cost (per Sq meter) at the time of purchase

+ Lower standard of finish - and perceived different quality of management

But the difference (to Columns) is not huge, so there seems to be solid demand for the Belton units

 

Avida Towers San Lorenzo, on the fringe of Makati, below Arnaiz Avenue

 

(per Avida Leasing - some estimates):

Avida SanLo Flats / Dec. 2015 : (per handout)

Type/ Size : Unfurn - /SM : Semi-F : Fully Furn. / FF/unf. / FF.perSM
Stu- 23 SM : 14,000*/ p608 : 16,000*: 18-20: 19,000/ 136 % / php 0,826
1BR 41 SM : 21,000*/ p512 : 24,000*: 27-30: 28,500/ 136 % / php 0,695
2BR 59 SM : 31,000*/ p525 : 35,000*: 40-45: 42,500/ 133 % / php 0,720
=========
*Listed @12.0K + 2.0k.est assoc.fees = 14.0k; 1br: 17.0 +4.0= 21.0; 2br: 25.0 +6.0= 31.0

 

Some actual leases offered: 12/15/2015

=======

T1-0301 : P20,000 : 1BR : SF / 36.14M = 553pm : Semi-furnished : 102v
T1-0618 : P18,000 : stud : FF / 24.50M = 735pm : Fully Furnished: 061v
T1-0904 : P15,000 : stud : UF / 24.50M = 612pm : UF-blu+builtins : 105v
T1-1716 : P16,000 : stud : FF / 22.50M = 711pm : FF+sep.,colors : 100v
T1-1904 : P19,000 : stud : FF / 22.50M = 844pm : FF >Brown etc-: 064v

At 01/20 :
T1-2116 : P19,000 : stud : FF / 22.50M = 844pm : standard deliv.-: 006v :
T1-0618 : P18,000 : stud : FF / 24.50M = 735pm : FF+pine-furn.- : 092v :
T1-1617 : P16,000 : stud : SF / 22.50M = 711pm : standard semif-: 021v :
=======

> http://leasing.avidaland.com/

[drbubb]

Different Ends of Makati : "the North / South divide"

Columns-Legazpi vs. Columns-Ayala (North Makati)

 

Will we see a rise of Rents in the North, over years to come... as CityGate gets built?

2 BR, furnished : Col.L (1129psm) / Col.A (830.3psm) : +36.0% premium (Dec. 2015)

 

: COLUMNS, Legazpi Village, Aug. 2016 : Link

SIZE: Range Sq.M / Furnished PHP: PerSF/ Unfurn.'d: PHP: PerSF/ F.prem

Studio 30-38: 34.0 / 35-40k: 37.5k : 1103. / 30-38k: 34.0k : 1000. / +10.3%
1 BR : 47-62: 54.5 / 50-65k: 57.5k : 1055. / 45-60k: 52.5k : 963.3 / + 9.5%
2 BR : 73-82: 77.5 / 80-95k: 87.5k : 1129. / 73-82k: 77.5k : 1000. / +12.9%
3 BR : 110.?: 110 / 110k ave 110k : 1000. / 95-110: 102.k : 927.8 / + 7.8%

=====

Historical--- : StudioF., prem : 1-BR F, prem : 2-BR F, prem : 3-BR F, prem :

CL-Aug 2016: 1103 , +10.3%: 1055 , + 9.5% : 1129 +12.9% : 1000., +7.8% :

CL-Dec 2015: 1103 , +10.3%: 1055 , + 9.5% : 1129 +12.9% : 1000., +7.8% :
CL-Oct. 2015: 1103 , +10.3%: 1055 , + 9.5% : 1129 +12.9% : 1000., +7.8% :
CA Ave.Sizes : 34sqM --------: 54.5sqM -------: 77.5sqM ------: 110sqM

 

: COLUMNS, Ayala Ave. Aug. 2016 : Link

SIZE: Range Sq.M / Furnished PHP: PerSF/ Unfurn.'d: PHP: PerSF/ F.prem

Studio 30sm: 30.0 / 22-28k: 25.0k : 833.3 / Few ??: 20.0k : 666.7 / +25.0%

1 BR : 48-60: 54.0 / 32-50k: 41.0k : 759.3 / 30-40k: 35.0k : 648.1 / +17.1%

2 BR : 67-98: 82.5 / 62-75k: 68.5k : 830.3 / 60-70k: 65.0k : 787.9 / + 5.4%

=====

Historical--- : StudioF, prem : 1-BR F, prem : 2-BR F, prem : 3-BR F, prem :

CA-Aug 2016: 833.3, +25.0%: 759.3., +17.1%: 830.3 + 5.4% :

CA-Dec 2015: 833.3, +25.0%: 759.3., +17.1%: 830.3 + 5.4% :

CA-Oct. 2015: 833.3, +25.0%: 759.3., +17.1%: 830.3 + 5.4% :
CA Ave.Sizes : 30sqM -------- : 54sqM ----------: 82.5sqM ------ :

Makati :

2Q /2015 : 0,862 : +1.65% : +5.12%/ 0,590 - 1,135 / 0,670 - 1,070 / 0,770 - 1,100 :

Qtr /Yr. : Mak-Mid. QonQtr : YronYr / Lo - Makati - H / L-Bonfacio-H / L-Rockwell- H /

Even so, Cols-Ayala has been a decent investment, as my estimated RETURN figures show -

 

RETURNS: Col. Ayala

Cols. Ayala : Aver. / Price Range: Mid: PerSqM / Rent: /SqM / Gross yield
Unfurnished
Studio 30-31: 30.5 /Php 2.3-2.5M: 2.4M: 78.7k / 20.3k : 666.7 / 10.2 % :
1 BR : 48-52: 50.0 /Php 3.8-4.2M 4.0M: 80.0k / 32.4k : 648.1 / 9.72 % :
2 BR : 63-71: 67.0 /Php 4.8-5.5M: 5.15 : 76.9k / 52.8k : 787.9 / 12.3 % :
Furnished
Studio 30-31: 30.5 /Php2.4M: 78.7k+10k: 87.9k / 25.4k : 833.3 / 11.4 % :
1 BR : 48-52: 50.0 /Php4.0M 80.0k+10k: 90.0k / 35.2k : 703.7 / 9.37 % :
2 BR : 63-71: 67.0 /Php5.15 : 76.9k+10k: 86.9k / 55.6k : 830.3 / 12.9 % :
===========
Those gross yield are Today's Gross Rents / Historical Prices

 

NOTE: I am using pricing data from here: http://www.condominiumsmanila.com/Makati/condo-details.php?ID=39

And I have assumed furnishing costs of Php 10,000 per SqM, or Php 340,000 for a 34 sm apartment

[drbubb]

Citigate's Shopping Mall (2016?) should help rents on its NORTH end of town

 

CITY GATE - and the changes it will bring to North Makati

 

It is coming up - the shopping may be complete in late 2016 / early 2017

 

: An answer to those who want more parking for Makati?

"Better yet, we need more efficient public transport and less traffic. We can only build so much parking spaces"

> source

 

(The Way it was... circa mid-2011): Columns-Ayala was at a big discount to Columns-Legazpi

 

July 27th, 2011 #827 :: source

Gr33nArch3r

Hmmnn..pretty interesting. I never thought that rent in the Columns Ayala Ave is that low. I always thought that it would get at least the same amount of rent as Legaspi Vill or Salcedo Vill since it is in the Makati CBD. If I post that I am renting my studio unit in Legaspi Village for Php 15K a month, my phone will be ringing off the hook. Note, my unit is in a building built 10 years ago and is "non-Ayala". I am renting it for 25K. It is furnished, but furnishing a unit shouldn't be that expensive. Having it interior decorated is expensive pero when you're renting it out, it does not have to be pimped out.

This little nugget of information must not sit well with investors who bought in Lerato and Jazz...

=== ===

> source

THE TRANSPORT was not good.

But the covered walkway has now been extended to Eaton Tower, and Kroma, which is now under-construction.

The walkway will also extend to Citygate. And Citygate will become a favored destination in its own right

LOCATION was considered not good, too close to the cemetery (when little else was there)...

FLOODING was a problem / some years ago but was fixed with better drainage:

 

SHOPPING was not good / but CityGate will change that

 

Cols-Legazpi : "I am renting it for 25K. It is furnished" - that was July 2011

The ALVEO website shows rents are now at : Php 35-40K or 1,103 psf, for Furnished-Studios in Cols-L

A jump from 25k to 37.5k over 4 years, would be just over 10% per annum, compounded.

[drbubb]

RENTS up in Q2 - but the environment will get more challenging in 2nd-half, and in 2016

 

Residential Vacancy levels continued to improve in the major CBDs as only three new condominium buildings were completed. Overall vacancies in Makati CBD improved further to 7.6%. Rental growth in Fort Bonifacio was the fastest during the second quarter, after increasing by 1.9% and rising to Php871 per sq m; however Rockwell Center maintained its status having the highest condominium lease rates. With 5,500 new units set to be delivered in the second half of 2015, landlords must brace for a more competitive environment.

 

2Q /2015 : 0,862 : +1.65% : +5.12%/ 0,590 - 1,135 / 0,670 - 1,070 / 0,770 - 1,100 :

Qtr /Yr. : Mak-Mid. QonQtr : YronYr / Lo - Makati - H / L-Bonfacio-H / L-Rockwell- H /

That's +1.65% growth Qtr-on-Qtr, and 5.12% increase Year-on-Year into Q2-2015

> more: http://www.colliers.com/-/media/files/marketing%20reports/phil_knowledge_2q2015b.pdf

[drbubb]

If you MUST stay in a Hotel, here are some tips about how to save money

 

/ Note: if you stay longer than a few days, you may consider switching to other accommodation /

 

Reserve the best rate

Look for extras. The more services your rate includes, the better the bang for your buck. You’ll want to make sure they are features you will actually use though, otherwise you’re spending more than you need to. Common extras that can save you lots are free breakfast, free Wi-Fi and kids eat free. All those bowls of fruit and free coffee and tea in the lobby are also included in your room rate, so take advantage of them during your stay.

Stay in hotels right outside the city center. If the costs for transportation won’t make up the difference you’d be paying on a closer location, you can frequently get a fantastic deal this way. You could also look into staying in the university district of a city. Hotels are more affordable, cheap eateries are plentiful and public transportation is convenient.

Avoid the weekend. Hotels in popular destinations regularly raise their rates on Fridays and Saturdays. In some cases, it can be as much as three times more than Sunday through Thursday nights.

Book in a business-minded hotel. Room rates for hotels that get the majority of their business from professionals drop their prices when business is slow, like weekends and holidays. This can get you a more luxe stay at a fraction of the cost.

Upgrade to a suite. If your travel party is larger, a suite can cost much less than adjoining or separate rooms. They offer more space and often have bedrooms, so everyone isn’t crammed in the same small space and adults don’t have to go to bed early just so they don’t wake up their kids when their bedtime rolls around.

Be a rewards member. Do you normally stay at the same hotel or use the same chain when you travel? Sign up for their rewards program. Not only can you rack up points for each stay that you can then use on upgrades and free nights in the future, but rewards members also get notified of exclusive deals that can save you a ton.

Save during your stay

Go out to eat. Though room service sounds really appealing, prices for food on the menu can be twice as much as you would pay for the same food at a restaurant. Gratuity is always included in the tab and usually masked as a delivery charge. Most guests don’t know this and add a tip to the bill when the waiter brings their food.

Bring your own snacks or hit the grocery store. Anything is better than the rates for items in the mini bar. The prices are outrageous and don’t even think about trying to replace it with the same item later. Most mini bars have weight sensors to know exactly what has been taken and when.

Ask for a corner room. Though this won’t technically save you any money, corner rooms are usually a bit larger than regular rooms, which give you a better deal for your money. Once you check in, ask if one of these rooms is available. This is easier if you show up close to check-in time, but before the flood of guests show up to get their keys. You can also call ahead and request a corner room with your existing reservation.

==

> http://www.save70.com/hotels/?utm_source=taboola_save70_hotels&utm_medium=cpc&utm_campaign=save70_hotels&utm_source=taboola&utm_medium=rt-rtcom

[drbubb]

In HK there's a company called Dash, that will "turn your rental apartment into a serviced flat".

 

They pay for all renovations to "their standard" and then find tenants. They claim you will earn a premium to ordinary rents

 

http://dashsuites.com/about-us/

[AlexHK]

Dr Bubb, there is a company in Makati called Versailles Stay which offer similar services (turn your apartment into a serviced flat) in One Central : http://www.versaillesstay.com/

They manage around 200 units of One Central building.

Cf article below.

Al--

Versailles Stay: A creative way of high-end living

Versailles Stay, the new and revolutionary concept in property management is now in the country. Property business is one of the sunshine industries in terms of investments; Versailles Stay is here to take advantage of it. Capitarise Holdings Inc. and FPD Asia launched Versailles Stay last May 29, 2015 at their pioneering branch in One Central Residences, located on Gil Puyat Avenue near corner Ayala Avenue in Makati City.

Versailles Stay is a high-quality, fully furnished residence offering rental management solutions to unit owners and developers while guests and clients have their own share of experience for superior hospitable lodgings, convenience and value-for-money.

The Versailles Stay management group takes care of furnishes and maintenance of these units so that they will be always-ready and available for stay-cations and travelers.

Versailles Stay at One Central

There’s a new property business concept that is set to change the face of rental property in the Philippines by Capitarise Holdings Inc. – Versailles Stay.

Versailles Stay is a rental management solution for fully furnished, high-quality residences offering dependable property care for unit owners and developers, value for money, convenient and hospitable lodging for guests and clients.

You might ask if this is another high end hotel. No. This establishment acts as a bridge for foreign property investors and enabling them to access apartment suites from high-end condominium developers across the Metro.

Versailles Stay at One Central

Versailles Stay is not tied to any structure. Their innovative system can be easily set-up in any high-end residence building with One Central being their first venture.

Versailles Stay has stylish, luxurious and comfortable units from Standard, Deluxe and Premiere Suites offering flexible and affordable rates allowing you to save up to 50% compared to equivalent standard hotel rooms.Each suite is equipped with an air conditioning unit, cable TV, private toilet and bath with hot and cold shower, safety deposit box, mini bar, espresso machine, kitchen with refrigerator and microwave oven. Linens, pillows and basic toiletries are also provided. In addition, all suites are wifi equipped. Daily breakfast for 2 by Manila Catering is also included and served in the comforts of your own unit.

At One Central, you get to use the following facilities and services:

• 24-hour front desk
• Business Center
• Meeting facilities, Fitness Center
• Room Service, Children’s Playground
• Game Room
• Poolside Bar, Outdoor pool
• Dry Cleaning and Laundry, Theater
• Function Room
• Concierge, Airport Transfer

Versailles Stay currently manages 200 units at One Central, fifty (50) of which are available for short term stay.

[drbubb]

Thanks, Al--.

I spoke with them at some length when I was last in Makati.

The basic deal did not seem terribly attractive,

(from memory, it works like this):

+ When Versailles Stay (VS) takes over the property, they agree to maintain it - which will be at zero cost for the landlord

+ In return for maintaining the property, and finding tenants, VS take a big share of revenues - was it 50%?

 

Given the rates they are charging the short-let tenants, and their expected 30-50% (?) occupancy rates, it is hard to imagine that this arrangement would be lucrative for landlords. (Perhaps if they can get occupancy and daily room rates up, it will may more financial sense in the future.)

This deal only makes sense for someone who thinks they cannot find a tenant on their own, and are worried that their (empty?) property will not be looked after.

[drbubb]

Another example of Flats for rent - this is a little outside Makati, but is new

It is owned by a friend of a friend, and is about to go under contract, I believe

 

Furnished 1BR Condo Unit For Rent in Mandaluyong City, near Makati CBD

SM Light Residences, 23 sq. meters

EDSA Mandaluyong, corner Madison St., in front of (and linked to) Boni Avenue MRT Station

Photos:

 

 

THE UNIT
• Php 17,000 /month; 1month adv, 2 mos deposit; Min 6 mos; Excluding monthly assoc dues & utility bills
• Overlooking the swimming pools

UNIT AMENITIES : Fully Furnished
• Dining Table, 3 Chairs, LED TV, DVD Player, Sofa Bed w/ Side Table, Stand fan
• Hot Plates, Cabinets, Refrigerator, Microwave Oven, Coffee Maker, Rice Cooker, Kettle, Dining items
• Lavatory, Toilet, Shower w/ Glass Enclosure
• Sleeping Area w/ Divider & Sliding Door, Built-In Closet, Double Size Bed, A/C Unit

CONDO AMENITIES
• Recreational Area, Landscaped Gardens & Water Features, Kiddie Play Place
• 4 Swimming Pools, Fitness Gym, Jogging Paths
• Function Rooms, Grnd/F Shops, Restaurants, Grocery
• FREE WiFi Internet At Lobbies

COMPARISON:

A similar 1 BR in Makati might cost Php 20-25,000 (call it 23,000 and so 35% more)

[drbubb]

The good and bad of being an AirBNB provider

 

The AirBnb Experiment: How I Impulsively Started a Vacation Rental Business

 

March 20, 2014 By Paula Pant 68 Comments

AIRBNB COUPON: Get $20 off your first Airbnb stay.

 

This article is Part 1 of The Airbnb Series. When you’re done, check out Part 2, Part 3, and Part 4.

“I wonder if …”

. . .

You see, I recently finished renovating one of my apartment units. Pre-renovation, it rented for $700 per month. Post-renovation, I think I can rent it for about $1,100/month.

But then I started thinking, “I wonder if …”

“… I could boost my profits by renting the apartment as a short-term vacation rental?”

And that’s how The AirBnb Experiment began.

 

How I ‘Accidentally’ Started a Vacation Rental Business

(Brief background for new readers: My partner and I own six rental units, which produce a combined $35,000/year in net passive income (after all expenses, including management). You can read about them here, here, here and here.)

As soon as “I wonder if …” popped into my mind, my knee-jerk reaction was to focus on the drawbacks of managing a vacation rental business.

• More turnover.
• Higher vacancy.
• Extra management.
• Upfront costs of furnishing.
• Higher guest expectations (full-service).

I observed those objections arising. And then I asked myself, “How can I battle these?”

 

#1: Separate “Investor Paula” from “Manager Paula.” I’ll track my hours and ‘pay myself’ the free-market rate for this position ($20/hr). Then I’ll see whether or not Investor Paula still makes a profit, even after paying Manager Paula for her time.

This is crucial. Many business owners think they own an investment, when they really just own a job. The only way to successfully invest in real estate is to make a profit after paying yourself (or paying someone else).

#2: Commit. I’ll commit to this experiment for at least 6 months, if not a year. That way, I can measure vacancy and turnover across the span of several seasons.

#3: Budget. I’ll furnish the apartment on a $2,000 budget – including paying myself for my labor. (I’m not giving my time away for free!)

Here’s what happened next:

==

> MORE: http://affordanything.com/2014/03/20/airbnb-experiment-impulsively-started-vacation-rental-business/

[drbubb]

"46-Hotels" / Cvent : Added as a Link in the Header

 

Key Highlights / / Hotels 46

Total Sleeping Rooms 5,691

Average Hotel Room Rate----: PHP 4,187 / US$ 90 @ 46.5
Average Daily Meal Cost----- : PHP 3,455 / US$ 74
Average Weekly Car Rental : PHP 22,561/ US$ 485 /7= $69/day

• Special Event Venues : 6
• Population : 529,039
• Restaurants : 24
• Sales Tax---- : 12.00%

===

> http://www.cvent.com/rfp/makati-city-philippines-guide/meeting-event-planning-3c6d4f4dd0bf45a180ba9b6389aaadaf.aspx?tab=key_stats

[drbubb]

Bloomberg - The Rise of Airbnb's Full-Time Landlords

http://www.bloomberg.com/news/articles/2015-11-10/how-airbnb-makes-property-investors-rich-despite-the-neighbors

 

Ryan Scott says traditional landlords are missing out. The real money is in Airbnb Inc.

 

Scott, 33, figures he brings in half a million dollars a year in revenue from 14 San Diego homes he leases by the night using the short-term rental site. That’s a 20 percent profit margin and almost twice the revenue he could get from year-round tenants, he said. Scott owns eight of the houses and manages six others for landlords, and he’s able to do it and still keep his day job.

 

“When I got started a few years ago, it was very easy -- there wasn’t a lot of professional competition on Airbnb,” Scott said. “Now I think it’s going to get much more crowded with professional managers, for better or worse. There’s a huge opportunity for bigger companies.”

Listings by investor hosts such as Scott, powered by sites like Airbnb, Vacasa and HomeAway Inc., are surging in urban hot spots around the U.S. The rise of full-time hosts is spawning a crop of startups offering support services from housecleaning to key exchange. While the unlicensed lodgings are giving a lift to local restaurants, shops and bars, they’re drawing scrutiny from city governments and driving some neighbors crazy.

. . .

Tracy Smith lives two houses down from one of Martin’s rentals, a short walk to the popular Rainey Street restaurants and bars. She says she’d rather see kids in the backyard of Martin’s property than guys playing beer pong, she said.

“People are making a killing,” Smith said. “Homes are taken up for families who’d want to live here.”

Angry neighbors haven’t slowed the expanding universe of the more than dozen startups that have emerged to serve the alternative travel industry, said Jeremiah Owyang, an industry analyst at Crowd Cos., a Redwood City, California-based research firm.

Companies include Beyond Pricing, which offers software so that owners can vary rates based on supply and demand; Guestprep.com, a turndown service for hosts that replaces towels and sheets and reports back on the state of the property; Airspruce, which links hosts with professional travel writers to pen listing descriptions; and Keycafe, which allows guests to pick up keys from neighborhood cafes.

“There’s a real industry here,” Owyang said. “It’s not just a fad.”

==

MORE : click on link

 

(I think they are exaggerating - AirBNB is getting saturated in some locations)

[drbubb]

After two weeks in Makati- so far-

I have seen these comments about AirBNB here

 

Poster-1

There's an interesting calculation:

How many days do I need to stay in the flat, to make it worth my while to keep the flat empty,

and use it as my pad when I visit here.

I currently estimate that at 3 months per year, so there's a possibility that I may just hold my flat and furnish it

rather than renting it out. It will be cheaper to stay here, then rent someone else's AirBNB pad

 

Poster-2

Yes I suppose if you intend on staying there as per your calculation for 90 days a year you probably are better off in your own place instead of hotels etc. Infact, I would think that also adds the flexibility of selling at anytime with no tenant in there.

Of course airbnb is an option too, if there is someone you trust to manage it whilst away. (A consideration could be to becomes a specialist airbnb operation on several units on behalf of owners. The advantage to potential guests could be the fact that you're a foreigner and perhaps can better address their needs in Phil)?

 

Poster-1

Air BNB is not so lucrative anymore - there's too much competition

I have stayed several times in properties owned by Mr B---,

and he is shifting from air BNB to long term leasing now

He has some heavier family responsibilities coming, and will not be able to be "Johnny on the Spot" sorting out check-ins, cleaning, and unexpected emergencies.

He tells me that if you properly price in the costs and risks of having others do this, long term leasing may be just as financially rewarding.

Essentially, being an airBNB Landlord can be demanding and time consuming.

If you want the job duties it generates, fine. If you have someone else do it, there are trust issues.

*Another reason that LT works for him, is that his places are FF, and he has been able to lease them at healthy rates,

like P20K per month for a studio in an Avida Tower

If Mr B--- makes this decision, and doesnt find it easy to find someone he can trust, how can I?

There are also some signs now that Furnish flats are not easy to rent - unless they are offered very cheap

There's a stronger demand (at lower prices) for bare units. Then, Filipinos/ Filipinas can bring their own furniture

[drbubb]

SELLING TIPS - for the Philippines

 

(I will start a new thread on this topic, after collecting some comments here)

 

A site called FFE has some good ideas

 

SELLING Online

Where to advertise - There are three places you can tap to sell your property in the Philippines.:

 

+ Online classified ads sites.

+ Facebook

+ Forums... (Skycraper city, Asiaxpat, GEI , etc

Forums. Don’t underestimate the power of word of mouth, and if you are able to maintain a good relationship with forum moderators, take the opportunity to advertise your property on the forum when possible. Be careful not to step out of netiquette lines when using this method, as spam posting is usually dealt with severely. When using forums to advertise, look for an existing thread on real estate trade first before posting a new topic. This way, you can already scour for potential buyers who have already replied in the threads before even posting your ad. Just like in a classified ads website, it’s important not to forget to provide the necessary information in your profile so as to look credible and easy to reach.

 

The essentials

 

As for the property itself, there are some essential things you need to put in your ad to be able to attract the right type of buyer. Just some of these essential pieces of information include:

• Lot address
• Lot size and number of storeys
• Sales price
• Contact details

- See more at: http://ffemagazine.com/how-can-you-sell-your-property-online/#sthash.sGoGwuaC.dpuf

 

==

> more; The Right to Rent : Do you need an Agent : Sell like a Pro :

[drbubb]

(though more than 1-year old, this is an interesting factoid, and work keeping in mind and commenting upon here):

 

RENTAL YIELDS : large flats better? / Oct 26, 2014

Philippines: yields good, though lower than in recent years

Yields in Manila remain good, but somewhat lower than during the past few years (when they were excellent). Transaction taxes (known as ‘capital gains taxes', but not actually such), and (if observed) official income tax rates applicable to non-resident investors, are high.

Buying prices for condominiums are at around US$2,800 to US$3,200, (/44 = P 64k - p 73k psm - old prices !) considerably up on previous years. Unusually, yields are not highest on the very smallest units, which suggests that smaller condominiums are oversupplied. The highest-yielding units are 80 square metre units (which have gross rental yields of around 7.7%). Last year we found that yields were surprisingly good on very large condominiums (250 square metres), at around 9%, but this year we were not able to assemble a database of this dimension. This may be an optimal size for investment.

P 64k psm x 8% = 426 psm per mo.
P 73k psm x 8% = 487 psm per mo. (too low? because their prices are too low. At 130k psm x8% = P1)

. . .
Compare these with : 875 psm per Colliers (and P 820 psm in mid-2014)
And also, we see unfurnished flats: P928 psmpm at Columns-Legaspi, and P788 at Columns-Ayala

[drbubb]

What Will Happen To a Condominium Investment After 50 Years?

philpropertyexpert.com

It’s not like you will buy a condominium property and then after 50 years, your investment will be gone, just like that. When a condominium project is fully turned ...

>
http://philpropertyexpert.com/what-will-happen-to-a-condominium-investment-after-50-years/

(in edit, as was explained to me in an email):

I live in Philippines and there is a misunderstanding here about this rule. Many people think you just lose your condo once it reached 50 years old.
I have an unit in a 20-something years old building and several people here told me that I will lose it after 20-something more years years, which is not true.

What usually happen is a developer makes an offer on a well located old building to build a new one instead. Sometimes they offer a new unit in the new building constructed, sometimes money only, sometimes both. If majority of the owners of the old building (more than 50 years) agreed then the others are forced to join the deal.

So this is not really a concern when you buy a condo. If such offer is made to you by a developer once your building is 50 years old it will probably be an attractive offer or the majority of owners just won't accept it and your building will remain as it is.

Thanks again for this article. I'm going to forward it to some of my friends and family who misunderstood this rule.

[drbubb]

Residential rental rate appreciation slows in the 4th quarter

.
Rental rate growth slowed down on average to 1.1% for all major areas. Rockwell Center condominiums continued to command
the highest rates per sq m, averaging at PHP963 per sq m for premium units. Makati CBD unit rents averaged at PHP883 per sq
m growing by 0.91%, while Fort Bonifacio premium condos were slightly higher at PHP891 per sq m with a 1.0% growth. Ortigas
Center prime condominiums averaged at PHP506 per sq m, an increase of 1.2% from the previous quarter

==

> http://www.colliers.com/-/media/files/marketing%20reports/phil_knowledge_4q2015.pdf

 

RENTALS : Makati, Bonifacio, Rockwell to Q4 - 2015 : source

Qtr /Yr. : Mak-Mid. QonQtr : YronYr / Lo - Makati - H / L-Bonfacio-H / L-Rockwell- H /

3Q /2102 : 0,708 : +1.2E% : +5.0E% / 0,525 - 0,890 / 0,568 - 0,850 / 0,677 - 0,950 :
4Q /2012 : 0,720 : +1.69% : +7.0E% / 0,525 - 0,915 / 0,570 - 0,865 / 0,686 - 0,912 :
1Q /2013 : 0,735 : +2.08% : +8.0E% / 0,540 - 0,930 / 0,580 - 0,890 / 0,700 - 0,930 :
2Q /2013 : 0,780 : +6.12% : +11 E% / 0,545 - 1,015 / 0,590 -0,940e/ 0,705 -0,970e:
3Q /2013 : 0,800 : +2.56% : +13.0% / 0,550 - 1,050 / 0,600 - 0,990 / 0,710 - 1,000 :
4Q /2013 : 0,805 : +0.63% : +11.8% / 0,550 - 1,060 / 0,610 - 1,010 / 0,720 - 1,020 :

1Q /2014 : 0,810 : +0.62% : +10.2% / 0,555 - 1,065 / 0,610 - 1,020 / 0,725 - 1,025 :

2Q /2014 : 0,820 : +1.23% : +5.13% / 0,560 - 1,080 / 0,625 - 1,025 / 0,740 - 1,030 :

3Q /2014 : 0,830 : +1.22% : +3.75% / 0,570 - 1,090 / 0,630 - 1,035 / 0,790 - 1,090 :

4Q /2014 : 0,838 : +0.96% : +4.10% / 0,575 - 1,100 / 0,640 - 1,045 / 0,750 - 1,055 :

1Q /2015 : 0,848 : +1.19% : +4.69% / 0,578 - 1,118 / 0,660 - 1,050 / 0,755 - 1,080 :

2Q /2015 : 0,862 : +1.65% : +5.12% / 0,588 - 1,135 / 0,672 - 1,070 / 0,769 - 1,099 :

3Q /2015 : 0,875 : +1.51% : +5.42% / 0,595 - 1,155 / 0,680 - 1,083 / 0,804 - 1,098 :

4Q /2015 : 0,883 : +0.91% : + 5.37 % / 0,600 - 1,166 / 0,688 - 1,094 / 0,814 - 1,094 :
YoY f'cast: 0,856 : --------> : - 3.06% (prev.: 0,845 - 3.39%)
Qtr /Yr. : Mak-Mid. QonQtr : YronYr / Lo - Makati - H / L-Bonfacio-H / L-Rockwell- H /
Makati Yield 3br?: 4Q/ 2015: 0,883 x12 = 10,596/ 151,000: 7.02% Yield (prev. 6.95%)

[drbubb]

TIPS on Renting Properties

 

( Most of them were obvious - but the last two were not: )

 

his also decreases vacancy, which is costly for a rental business.

 

5. Draft a Detailed Lease Contract

Photo via IngImage

Drafting a very detailed lease contract is very important, as it will save you headache later on. Make sure that it clearly states the terms on advance payments and deposits, when rents are expected to be paid, number of occupiers, and your policies regarding how the leased property can or cannot be used or occupied. This means detailing your policies regarding subletting, the presence of pets, and which alterations or improvements can be done on the property. When all are clearly detailed in the lease contract, the lessees cannot feign ignorance of the rules should issues arise.

 

6. Pay Your Taxes on Time

One of the burdens of being a property owner is that you have to pay your annual real property tax. Failure to do so will incur a 2 percent penalty per month on the amount unpaid until it is fully paid. However, some localities (Parañaque, for instance) offer discounts for those who pay early. This can potentially save the property owner thousands of pesos, which he can add to his profit.

==

> MORE: http://www.lamudi.com.ph/journal/qa-how-do-i-keep-my-rental-property-profitable/

[drbubb]

Extra Steps save Renter's money (especially on 1BR & 2BR flats)

 

Flats in AT SanLo are further from Greenbelt than is Columns Legaspi, and they are also: smaller and cheaper

 

/ note: I have corrected previous data, which compared ATSanLo with Col.Ayala /

 

Furnished ATSanLo: Col.Legs : Premium : Savings
Studios --- : P19,000 : P37,500 : + 97.3 % : P16,500 / month
Per Sq. M. : P826.0k : P1103.k : + 33.5 %
1 BR's ---- : P28,500 : P57,500 : +101.8 % : P29,000
Per Sq. M. : P695.0k : P1055.k : + 51.8 %
2 BR's ---- : P42,500 : P87,500 : +105.9 % : P45,000
Per Sq. M. : P720.0k : P1129.k : + 56.8 %

(compared with Columns Ayala)
Studios --- : P19,000 : P25,000 : + 31.6 % : P 6,000 / month
Per Sq. M. : P826.0k : P833.3k : + 0.88 %
1 BR's ---- : P28,500 : P41,000 : + 43.9 % : P12,500
Per Sq. M. : P695.0k : P759.3k : + 9.25 %
2 BR's ---- : P42,500 : P59,000 : + 38.8 % : P16,500
Per Sq. M. : P720.0k : P830.3k : + 15.3 %

 

 

SIZE : Range SqFt / Furnished PHP: PerSF/ Unfurn.'d: PHP: PerSF/ F.prem

Studio

Col.Legs: 34 sqm: 34.0 / 35-40k: 37.5k : 1103. / 30-38k: 34.0k : 1000. / +10.3%
AtSanLo: 23 sqm: 22.5 / 18-20k: 19.0k : 826.0 / 12-14: 14.0k*: 608.0 /
1 BR :
Col.Legs: 47-62m: 54.5 / 50-65k: 57.5k : 1055 / 759.3 / 45-60k: 52.5k : 963.3 / + 9.5%
AtSanLo: 41 sqm: 41.0 / 27-30k: 28.5k : 695.0 / 17-21k: 21.0k*: 512.0 /
2 BR :
Col.Legs: 73-82m: 77.5 / 80-95k: 87.5k : 1129. / 73-82k: 77.5k : 1000. / +12.9%
AtSanLo: 59 sqm: 59.0 / 40-45k: 42.5k : 720.0 / 25-31k: 31.0k*: 525.0 /
===
*SanLo: 12.0K + 2.0k.est assoc.fees = 14.0k; 1br: 17.0 +4.0= 21.0; 2br: 25.0 +6.0= 31.0

 

A flat at ALVEO Columns Legaspi

===============

Here's my analysis of Rental differences:

 

Renters (single people and young couples?) will walk those extra steps to Avida Towers San Lo to save money by renting cheaper flats.

 

They are cheaper partly because they are smaller (example: Studios are 22.5 SM, rather than 34 SM, one-third smaller.)

 

On Studios, they are paying a rental rate which is 25% cheaper per SM as at Col-Legs - that is roughly the PRICE differential for buying the flats in the secondary market.

 

When it comes to 1 BR flats the flats have a bigger savings per SM, offering a greater savings to get people to take those extra steps. Renters save 50% on 1 BR flats and 34% per Sq Meter. The savings is even more apparent for 2BR flats, which are less than half-price and 36% cheaper per SM than 2BR flats at Col-Legs. This suggests that potential renters for larger flats will not take those extra steps (with their children?) unless there is a very substantial savings for doing it.

I think this difference has to do with families with small children. There seem to be very few babies and few very young children living at SanLo. The families that can afford it would prefer to pay a bit more each month for their flats at Col-Legs, and have an easier walk to the attractions of the shops and restaurants at Greenbelt. Many more expats rent at Columns Legaspi too, from what I have seen.

[drbubb]

Housing Cools, and rents stall

 

Following a slowdown in project launches and issuance of condominium licenses in 2015, real estate professionals anticipate a cooling-off period in 2016, although economic performance will remain healthy, with GDP expected to grow 6.3%, according to the Asian Development Bank. The Housing and Land Use Regulatory Board issued 14.5% fewer licences in 2015 for residential development than in 2014. Builders are partly responding to anticipated changes in interest rates — now rising after a long period of record low mortgage rates — as well as a dampening of demand and global economic forces. “Developers themselves are limiting exposure, as supply has been growing faster than demand. 2014 and 2015 were historical highs for the completion of residential development. It’s not bad to practice self-control,” Javiniar told OBG.

 

The vacancy rate of prime residential properties remained at what JLL, a commercial real estate services firm, termed a “manageable level of 6.3%” in 2015, despite new supply. At nearly 9%, Makati’s CBD experienced among the highest residential vacancy rates. Rents there increased only 1%. Growth in middle-market to high-end sales and leases in Manila has been fuelled by the influx of foreigners working for multinationals. As many expatriate staff sought residences in Makati, BGC and the surrounding areas, housing projects responded by providing modern accommodations and amenities. Three high-end developments in these areas were completed in late 2015, adding nearly 2000 units. Colliers estimates that in 2015 a total of 6209 new condo units were added to the supply in Metro Manila’s five prime districts (Makati CBD, Rockwell Centre, BGC, Ortigas and Eastwood City). The vacancy rate is therefore expected to rise, reaching as high as 9% in these districts. As a result, rents might actually drop by the end of 2016. Condos in Rockwell Centre continued to command the highest rental rates in 2015, averaging P963 ($21.38) per sq metre. Up until 2018 the bulk of new supply will be in BFC and Makati CBD.

==

> http://www.oxfordbusinessgroup.com/overview/taking-stock-after-half-decade-rapid-growth-developers-are-looking-prevent-oversupply

[drbubb]

CHECKOUT THE TIPS from various News articles
> Post#14: http://www.greenenergyinvestors.com/index.php?showtopic=20614
Includes:
Condos close to train stations more expensive
An average condo located within 100 meters of an MRT station is at least Php16,645 more expensive per square meter than a similar, newly built condo situated more than 500 meters away.
2/
Ayala Center—the commercial core of the Makati CBD—commands the most expensive condo rent per sqm than any area Metro Manila. Living in the area, which is within striking distance of Greenbelt, Glorietta, and most of Makati’s luxury hotels, can set a renter back Php1,144 per sqm per month, meaning a 100-sqm condo here can command monthly rent of more than Php110,000. Following Ayala Center are Century City and Rockwell Center in Makati’s Poblacion area, where condos command monthly rents of Php986 and Php973 per sqm, respectively.
3/
Can BPO workers afford condos?
With an average monthly salary of Php22,500, entry-level customer care representatives cannot afford to rent a condo in either of these “affordable” areas: Eastwood City, Pioneer-EDSA, Poblacion (Makati), and San Antonio (Makati), where average rents range from Php19,838 to Php22,563 per month. Using the 30 percent rule...