STRAIGHT FROM THE TOP
Tips in Investing in Philippine Condos & other Properties
Selecting
the best condominium to fit your needs and your budget may seem like a
daunting task. So, how can one proceed with caution when investing in
condominiums in the
Philippines
? RLC Deputy Chairman, Lance Gokongwei, offers solid pointers as embodied in RLC's two successive projects within the
Bonifacio
Global
City
, the Fifth Avenue Place and the McKinley Park Residences.
A prime consideration is timing:
In making any business decision, timing your investment to the economic
upswing makes all the difference. Gokongwei firmly believes the
Philippine economy is on the rebound. 'Last year, the country's gross
domestic product and gross national product reached its highest level
since 1997,' he said.
The second consideration is the developer's reputation.
Gokongwei noted that investing in a condominium is no different from
buying any major consumer item like a computer or a car. It is enticing
to buy on the basis of a marketing promise but it would save you a lot
of trouble if you check out the developer's track record. 'RLC is
backed by the strength of the JG Summit Group, a leading Philippine
business conglomerate, and has a solid reputation for completing
projects on time and on specifications, meeting all expectations of
buyers,' he said.
Third is location.
A reputable developer assumes full assessment of the location of its
project. As an individual investor, you have to be certain the property
you want to buy offers a real hedge against uncontrollable factors like
inflation. A great location, such as in the premium portion of the
Bonifacio Global City, offers that kind of hedge, taking note that the
long term value of the land in the area is expected to rise as its
development continues.
'Previous investors were clamoring for
RLC to come up with a condominium development in the Makati/Fort
Bonifacio area,' noted Gokongwei. 'Future tenants will find the
location we chose for Fifth Avenue Place (FAP) highly desirable, not
only is it just walking distance from the best lifestyle establishments
in town, but also highly accessible from major areas of the metropolis
through Fort Bonifacio's strategic entry points,' he added. The same is
very true for RLC's subsequent project, the 'All-Loft' McKinley Park
Residences (MPR), which was immediately launched after FAP's successful
take-up. MPR is situated in neighborhood of the world class St. Luke's
Medical
Center
, Price Smart, MC Home Depot, Sports Kamp recreational facility, the Market! Market! Mall, and a host of international schools.
The fourth, and ultimately the most definitive consideration, is value.
RLC's expertise is in value engineering. 'RLC is attuned to the needs
of its buyers,' he explains, adding 'we made it a point not only to
satisfy these needs but exceed them.'
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