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No appreciation, poor management, no financing options, no tax advantages, etc. Just invest your USD in an ETF back home and rent here is the best move IMO.
Tempting to buy one. But if be worried that immediately when I move in the building would have flooring problems or something. Which means it would be unlivable because there would be a teenager with hammer and nail outside my door hammering the tile grout loose from 5 am to 6pm for the next 2 years... The last condo I rented here, I was about to just go buy the the correct tool so they could finish in 1 day instead of the 8 months it took them. Oh and drilling. Have you ever slept when there is concrete being drilled anywhere in the building? At any random time right when you think it's done. First world problems I know but still. Unlivable . Maybe one of those sound proof dome bed frames 😁
I have lived in condos with remodeling going on for months so I know what you mean. I have not had that issue here in this building in 3 years fortunately.
Well, thanks Rod for today's condos for sale. Honestly, my advice to an older retired foreigner would be pray that you find a good Filipina in the province, with family land or compound. I understand that many guys feel a highrise condo unit is safer. The idea of having to pay for parking is not for me.
You pay for convenience living in a condo. Retired seniors should always consider health needs first and the condo in that video has several nearby hospitals and clinics. It's stupid to sacrifice convenience just to save a few pesos
62k USD is too much in my book in the 1st. I see the housing market crashing in 2025/2026. Rent, don’t buy is my advice. They just don’t look appealing to me at any price.
Thanks for the video, but it doesn't pass the common sense test - at any level. So, you can buy a slice of a soon-to-be crumbling/rusting ruin, that has had its local management replaced by Colliers, so the fees will only go up - and extra special capital maintenance fees will soon be on the way. As and when typhoons, subsidence and earthquakes cause unforeseen damage, you will also get additional surprise demands. You have to pay as much as the purchase price of a decent used car to park it there - and after all that, you live in a crowded, polluted city without a soul. Like I said, it makes no sense. Don't believe claims that rental yields will cover potential mortgage costs and fees - assuming a future buyer could get one. Who, on earth could buy it from you, when you've finally had enough of living in a concrete coffin? Local people generally don't earn enough - and for the same money, they can buy a house and lot... Did I misunderstand, that the second unit was over 10 years old and originally sold for the same Peso amount, although in unimproved, bare form? Now, even after significant improvement, it still seems overpriced. Keep your money invested in a well run country, in productive assets and rent out of town - preferably well out of Cebu. What happens when the POGO "investors," finally bite the bullet, or face reality - and try to sell? What happens when the BPO's (mostly) get replaced by AI? What happens when China steps up, to protect its "own" waters? I, for one, will be ready to get out easily.
ridiculous ! way too small and way overpriced... for a country that can not keep up with its Asian counterparts in term of basic infrastructure, development, quality and general value for money .
all housing middle class or for the poor or homeless in the Philippines should be built through high rise earthquake-proof buildings, if Singapore, Russia Japan and China can do it, so can the rest of the world, so can be the PH, it is just a matter of utilizing modern technology to ensure the buildings are earthquake-proof safe.. this is one of the ways to slow people from encroaching into the last remaining forests that should be reserved to the 200 last remaining philippine eagles and other endangered wildlife and for our future children to enjoy....sewers should be built like oversized tunnels done by the tunnel boring machines ...so no floodings will ever happen again...finally all riversides should be reserved as linear parks, all housing extensions and factory extensions, warehouses extensions should be demolished ....all riversides should be planted with trees and bike lanes for the masses, this is what they do in the 1st world countries, which they call linear parks. If lands are extremely needed, please spare the forest. Please consider land reclamation by the sea, love from 12 million overseas Filipino workers.
Condo buying bad: PH taxes added on, realator commission. Resale: PH citzens will not buy used condos, they want brand new. Many other units in the building will be rentals, I could take over 5 yrs to sell it, expats might be the only clients that have high income to buy it.
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No appreciation, poor management, no financing options, no tax advantages, etc. Just invest your USD in an ETF back home and rent here is the best move IMO.
If I was a betting man, I would say with no pogos the market will dip more. I'd say it's a safe bet to wait 6 months and get a better price.
The problem in Philippines is the air pollution from the vehicles and people burning trash. 😮
Condos in the Philippines are too expensive for the size they offer. Thailand is a lot cheaper.
Tempting to buy one. But if be worried that immediately when I move in the building would have flooring problems or something. Which means it would be unlivable because there would be a teenager with hammer and nail outside my door hammering the tile grout loose from 5 am to 6pm for the next 2 years... The last condo I rented here, I was about to just go buy the the correct tool so they could finish in 1 day instead of the 8 months it took them. Oh and drilling. Have you ever slept when there is concrete being drilled anywhere in the building? At any random time right when you think it's done. First world problems I know but still. Unlivable . Maybe one of those sound proof dome bed frames 😁
I have lived in condos with remodeling going on for months so I know what you mean. I have not had that issue here in this building in 3 years fortunately.
Invest your money in S&P 500. With over supply of condos, rent is cheap
Well, thanks Rod for today's condos for sale. Honestly, my advice to an older retired foreigner would be pray that you find a good Filipina in the province, with family land or compound. I understand that many guys feel a highrise condo unit is safer. The idea of having to pay for parking is not for me.
Agree about your point! It's one of my concerns also is the parking space!! 😂
You pay for convenience living in a condo. Retired seniors should always consider health needs first and the condo in that video has several nearby hospitals and clinics. It's stupid to sacrifice convenience just to save a few pesos
Happy to see the pricing being corrected.
I'm glad to see the price coming down finally. I still liked the balconies at Queensland, a small but usable size.
I agree John. Most units this size are going for 4-5 mil.
Wouldn't take a condo there even if it was given for free. Cheers Rod.
62k USD is too much in my book in the 1st. I see the housing market crashing in 2025/2026. Rent, don’t buy is my advice.
Because they believe all foreigners are dumb enough to pay for them fancy wardrobes.
True 👍 ✔️ tinny shoe box
As others stating,better just renting as those properties far too small for the asking price.
Rent or buy in the Philippines is still out of line.
Too expensive, no condo passes the 1% rule and this is during a crash? Where is the lower prices? We are not even at fair value, the prices are crazy!
62k USD is too much in my book in the 1st. I see the housing market crashing in 2025/2026. Rent, don’t buy is my advice. They just don’t look appealing to me at any price.
Thanks for the video, but it doesn't pass the common sense test - at any level.
So, you can buy a slice of a soon-to-be crumbling/rusting ruin, that has had its local management replaced by Colliers, so the fees will only go up - and extra special capital maintenance fees will soon be on the way. As and when typhoons, subsidence and earthquakes cause unforeseen damage, you will also get additional surprise demands. You have to pay as much as the purchase price of a decent used car to park it there - and after all that, you live in a crowded, polluted city without a soul. Like I said, it makes no sense.
Don't believe claims that rental yields will cover potential mortgage costs and fees - assuming a future buyer could get one. Who, on earth could buy it from you, when you've finally had enough of living in a concrete coffin? Local people generally don't earn enough - and for the same money, they can buy a house and lot... Did I misunderstand, that the second unit was over 10 years old and originally sold for the same Peso amount, although in unimproved, bare form? Now, even after significant improvement, it still seems overpriced.
Keep your money invested in a well run country, in productive assets and rent out of town - preferably well out of Cebu. What happens when the POGO "investors," finally bite the bullet, or face reality - and try to sell? What happens when the BPO's (mostly) get replaced by AI? What happens when China steps up, to protect its "own" waters? I, for one, will be ready to get out easily.
To much for me
ridiculous !
way too small and way overpriced... for a country that can not keep up with its Asian counterparts in term of basic infrastructure, development, quality and general value for money .
What about HOA fees?
That’s the scary part, they are all different, it all depends on who’s running the hoa and what they can get away with…
100/sq meter.
no air con Rod
all housing middle class or for the poor or homeless in the Philippines should be built through high rise earthquake-proof buildings, if Singapore, Russia Japan and China can do it, so can the rest of the world, so can be the PH, it is just a matter of utilizing modern technology to ensure the buildings are earthquake-proof safe.. this is one of the ways to slow people from encroaching into the last remaining forests that should be reserved to the 200 last remaining philippine eagles and other endangered wildlife and for our future children to enjoy....sewers should be built like oversized tunnels done by the tunnel boring machines ...so no floodings will ever happen again...finally all riversides should be reserved as linear parks, all housing extensions and factory extensions, warehouses extensions should be demolished ....all riversides should be planted with trees and bike lanes for the masses, this is what they do in the 1st world countries, which they call linear parks. If lands are extremely needed, please spare the forest. Please consider land reclamation by the sea, love from 12 million overseas Filipino workers.
When will you be writing the check to make all that come about?
Yes, too expensive. A guy can still find condoS in the USA for 80k ... They will not be in a big city, they will be miles out from a big city.
Condo buying bad: PH taxes added on, realator commission. Resale: PH citzens will not buy used condos, they want brand new. Many other units in the building will be rentals, I could take over 5 yrs to sell it, expats might be the only clients that have high income to buy it.
Soon, nobody will want studios and will only be looking for bigger condos.
What a rip off for a garden patch size