Money and insurance

Is Investing in a condo in Manila the right choice?

These days, investing in a condo in Manila is one of the most popular financial decisions a person can make. More than a home, a condo can also generate a passive income, especially for people who work abroad.

By Nathan Arciaga

With Metro Manila's unending traffic woes, many of the Philippines' top real estate developers compete based on accessibility: a place with nearby grocery stores and schools or, at the very least, obtainable modes of transport. A prime location is made even more attractive thanks to plum facilities and amenities designed to emphasize the convenience of city living. This strategy makes owning a condo in Manila practical for city dwellers who want to live close to the center of the action.

But for someone who has worked abroad, owning a condo in Manila offers a different perspective. It can be a way to invest your hard-earned savings, whether it's to create a home for your family, have a place for you to stay, or rent it out to generate some extra income.

Does this sound attractive? Before you start Googling for viable properties, it’s important to decide first whether an apartment is the investment option you're looking for. Here are five signs that a condo in Manila is perfect for your lifestyle.

Do you prefer to be independent?

Condos make solo living incredibly easy. Apart from the usual conveniences of accessibility and amenities, a condo ensures round-the-clock security (including 24-hour surveillance and security staff) and a dedicated reception desk (perfect for receiving your online shopping packages) to vet the ins and outs of the area.

A maintenance team also keeps the entire complex in tip-top shape--a feature that may bode well if you're overseas. You don't have to worry about finding a plumber for a leaky toilet or an electrician for faulty wiring. If you're leasing your unit out, you can feel secure knowing that your tenants won't need to message you for repair concerns.

You prioritize convenience and comfort.

Amenities are the name of the game. Many condo developers create communities within their complexes so people don't need to go out. A condo in Manila typically comes with a gym, a running path, and swimming pools for its residents. Some even have playgrounds and daycare centers. All of these features are an elevator ride away.

Amenities have become a primary concern for condo dwellers, especially in the context of the pandemic. Whether you intend to stay in your unit or you're looking to rent it out, a development with an attractive set of amenities is usually a bonus.

Another major issue to note: condos rarely get flooded, another important feature that many dwellers are considering these days.

You want to make commuting to a minimum.

A car is always good to have in an emergency, but choosing to live the high-rise life also works if you don't own one and are perfectly content to ride your bike or take public transportation.

Many popular developments are situated near train stations or bus terminals to make it more convenient for the city dweller. Moreover, most of these condos stand near malls, grocery stores, banks, and schools.

Who needs to worry about parking and traffic?

You can make it a second home.

Most condos are primed either for starter families, people who live alone, or yuppies looking for affordable housing alternatives that will help them skip the commute. In recent years, people have gotten accustomed to renting out small units during the workweek to make them more productive.

Another way to make a condo in Manila a second home is to use it as a retirement nest. If you're an OFW, you can see it as a reward for coming home.

You have limited cash.

While still requiring a sizable amount of money, condo units are relatively cheaper than purchasing a “house and lot,” an apartment, or a townhouse. If you do not have much budget and are reticent in getting a bank loan, then a condo is an ideal option for you.

Investing in a condo in Manila is a huge step – and one that could likely pay off for yourself and your family. Take further steps to ensure that your family is protected in the long run, even when you’re away with the Family Hero plan. The plan works as a form of passive income, where it grows the potential to increase the family’s wealth, and protect them from unexpected health setbacks.