ALABANG properties : Catching up to Makati?

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ALABANG properties : Catching up to Makati?  Or Not

Locations: Map: Map2:

Lamudi index : Alabang:

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LEVELS ... in Alabang : DotPropety

Muntinlupa, Metro Manila

FOR SALE (16 units) starting from ₱ 5,000,000
FOR RENT (7 units) starting from ₱ 35,000

/ Rental Levels seem inflated below - maybe by 20-30%

MAKATI COMPARISONS:  But these seem to be with the MOST expensive properties in Makati:

" The Levels Alabang offer generously sized condo units are ranging from 36 sqm to 57.8 sqm, at the price ranging fromPhp 167,886 to Php 203,000 per sqm. (note: the cheaper ones seemed to have been sold by the Developer, as I post this.)  Its price is lower compared to properties in other CBDs. Comparatively, Makati properties are currently ranging from Php 350,000 to Php 450,000 per square meter. While MOA properties are ranging from Php 300 to 400,000 per square meter."

> source:

 

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LEVELS / Cheaper Ones - but they may not last long (??)

Here's 11.515M / 54= 213k per sqm ... source

> source:

The FOLLOWING one was SOLD already:

New Furnished 1 Bedroom with Parking in The Levels Alabang
The Levels, Pacific Rim, Alabang, Muntinlupa
1 BR, 1 Bathrooms, 1 Half bathroom?
6,500,000 / 36 m² = 180.6k psm  + with Parking ! ...

#3:

Following Property Updated 5 hours ago.   Views: 52

The Levels 2 BR Condominum for Sale  in Filinvest Alabang thru Bank

₱ 10,099,031 / 53.8= 187.7k psm

Condominiums and Apartments For Sale in Muntinlupa, Metro Manila

• For Sale
• 2 Bedrooms
• 2 Bathrooms
• 53.8 sqm.

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ALABANG PROS & CONS
(From an agent friend in Alabang):
“At our Project, We Are Currently at Low 250k/sqm On Our Projects Across The Board, Starrting At The Levels.
In An Apple To Apple Comparison Versus, BGC and Makati. Each Location Has An Advantages And Its Disadvantages. As Per Experience Our Demographics In Terms Of Buyers, Boils Down On Their Preference(s).
And The Project That Suit The Needs (Current and Future).
What We Are Offering Is, A Change Of Lifesytle or Upgrade, In A Subarban Community Which Offers At Self Contained Environment. Greens, Security and Future Ready Filinvest City In Alabang.”

(My own reaction):
“We are finding BARGAINS below 250K and even below 200k in BGC/Makati.  Because we are not restricting ourselves to the secondary market.  The lower prices, allow us to rent out easily, and get a much higher Yield.  Our last two purchases (in Makati) are now Rented at 8% Gross yield. And we bought way below Zonal Value.  To make your New Condo interesting, we need a buyer who cannot pay cash and access bargains.  Or one that "falls in love with" the Alabang environment.  It is possible that we may find someone like that, but I do not think that describes our friends who are visiting from overseas now”

(Agent on Yield Considerations):
That Is Correct Sir Rental Yield Previously at 8%, We Even Experienced As High As 9% per Annum Pre-Pandemic. Now at Current (5%) But We Have Sustained The Market (Tenants).
Lower Than 200k, Might Be An After Market possibility.
Hopefully, The Next Set Of Your visiting Friends, Would Be Able To Love ( the Alabang environment.)

(Reaction):
5% - that seems on Par with what we have found sometimes in and around Two Serenda.  6% we find occasionally in other parts of BGC. And we have a 7% or higher target in Makati.  Some buyers are less yield conscious, and so may be willing to consider their OWN USE needs ahead of Financial consideration.  I must tell you that Yield focus has been a very good tool for us as investors over the last several years, so we tend to stick with that in our own investing.  And we are still happy living where we live in Makati.  So OWN USE considerations are not in front of our minds when looking at properties.