Buying your first place: Locals & Foreigners

[drbubb]

Buying your first place: Locals & Foreigners

 

Tips - buying your first place... may require living as cheaply as possible, even sharing:

 

How I Make $10,000 /mo from Real Estate Investments :

 

Yields matter (ie Cash on cash returns), and especially if you have a Mortgage.

 

You want you net yield (after expenses) to be above the interest rate you are paying

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The investment decision may look a bit different for foreign buyers, or expats -

who may be "better healed" than some new local buyers or OFW's seeking their first investment

(a suggestion for for foreign buyers interested in Makati follows.)

 

GUIDE: Buying & Financing : https://philpropertyexpert.com/category/real-estate-financing/

[drbubb]

A good First Buy for Foreign Buyers? (such as from HK, SG, TW, JP)

 

 

P 4-4.5 Million Price Window a "sweet spot?" : Broker seeking transactions

I am in Hong Kong as I write this, and I had a meeting today with a broker friend who is visiting from PH. We also met with a couple here who have bought some properties in Makati. After the couple left, we had a chance to discuss the type of business the broker was looking to develop; and what in particular might suit new buyers (from HK and China) who may be purchasing their first property in the Philippines. We agreed to call a particular price-oriented marketing strategy the "P4 to 4.5 Million Window strategy" since that is the price level which may suit both buyers and sellers in the Makati area, but at The Rise and Air Residences in particular.

P 4-4.5 million /6.30 = HKD 635,000 - 714,000, about $2,200 - $2,500 per sf

Here's an example, using The Rise; where for 1BR flats are about 27 sqm meters:

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+ There are Buyers "stacked up" at various price levels below P 4 million (/27 = k148k psm), and
+ There are Sellers "stacked up" above, seeking P 4.5 million (/27 = P167k psm) or more

+ Buyers and Selllers willing to entertain transactions at price levels between P 4-4.5 Million, have a very decent chance of getting a transactions done. Outside that range will be more challenging (in the secondary market.). Having said that, I have been told that new property transactions at the Rise are getting done at P 5.0 million (/27 = P 185k psm) and up through the developer, Shang Properties. But those higher-priced transactions may include some financing by Shang. And some buyers prefer to deal directly with the developer, because they will have a chance to visit the showroom. and consult with the developer's agents, who may be able to answer a large range of questions. For some buyers, this direct contact, may justify a higher price. But not all buyers will feel that way.

The Rise is an attractive project, in a good location. Buyers in Hong Kong will be familiar with the parent company, Kuok Group from Singapore, which has several top-grade hotels around Asia. All potential buyers should be familiar with Shangrila Hotels.

I suggested to my agent friend that he/she keep a record of Buyers and Seller near that price level, and let me know if there are parties willing to transaction in that price range.

If you join the site (here's how - see post #3), and send me a PM, I will put you in touch with the Agent.
Alternatively, if you want your interest more widely seen, I am happy to allow people post here some details of transactions they want to do, with a special preference here for the P 4 - 4.5 million transaction window.
This is especially true for transaction interest at The Rise, and neighboring buildings in the Citygate area.

- Dr Bubb

 

Where is it?

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> see also Citygate area thread: http://www.greenenergyinvestors.com/index.php?showtopic=21029

[drbubb]

GUIDE - to the Process of Buying and Financing a property in the Philppines

 

> https://philpropertyexpert.com/category/real-estate-financing/

 

TOPICS - here is just some of what is included

 

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