#1 City in the World for Luxury Real Estate
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- เผยแพร่เมื่อ 2 มี.ค. 2024
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I don’t see prices for real estate coming down. I think it will continue going up. Have you noticed Philippines is full of expats and increasing?
⚛️ there is a oversupply of condos in some areas > sure there is lots of expats but how many are buying high end condos ⚛️
It’s a Chinese thing keep building eventually they’ll sell as they raise the prices. Sometimes it takes years to sell@@TheBigBananaaa
Condo towers can only be owned by foreigners up to 40%. But I haven't personally noticed even that many foreigners in any condo I've been in. I'm not sure if foreigners are driving up the prices
I can just speak for city lights . My two condos I bought 2+ years ago. They have gone up 30%. @@JohnSmuloTV they were at the time selling for 9-10.5m now 13.8m asking price
Though expats have increased in numbers, they are mostly renting...these are mostly small-pensioned retirees. It's the Filipino balikbayans and high-earning OFW's that are fueling the condo-buying frenzy. 2024 should be telling how far it will go as most are already feeling the inflation squeeze or being laid-off from their host country
Condos in city lights have gone up 25% in 3+ years.
Quite a dramatic increase
The article refers to 'prime property' appreciating but is vague - I'd be interested in knowing how to define prime, and the price point to get into that segment.
Other commentary on Manila property is mixed, with a factor being the exodus of the Chinese.
What’s your business?
Digital marketing agency in California and BPO in the Philippines are core businesses
BGC alone is far advanced than american cities..people who are living in bgc are very affluent and can buy super luxurous things..
Massive areas within metro manila can mimic 1st world cities in terms of AESTHETICS and services & advancement with towering massive dense skylines & skyscrapers
Filipinos are the largest market & consumers in BGC alone not foreigners
It’s definitely expensive here and people don’t realize how much money is here on PH.
Very true
I live in Manila, and you cannot breathe outside, and try spending 1.5 hours in traffic to get to places. Condo crash coming in all Ph. cities, but amounts will vary. Visiting Davao now, and really like CDO.
Appreciate your thoughts. Been wanting to see CDO. If you have time to catch up for a coffee while in Davao let me know
I find that everything is relative..
If a decent vehicle with a few bells and whistles costs around P1.5 million to P2.million,, then it goes to figure that a decent house will surely hit P6 million and above...
It wont affect 85% of the people but the top 15% are going to be the buyers..
Of that 15% perhaps 10% will pay the multiple millions for the home..
Work out how many people make up the top 15% and get a slight shock..
But for the average plebs it will mean a jeep ride every day to go past those areas and admire them..
Do they ever dream and say..... SOMEDAY,, MAYBE???..
Not this expat...
I am happy doing what I do and just ask.... HOW DID THEY DO THAT???... LOL
Philippines....... Land of amazement...
Thank you for sharing
whatever people say, even the person who cannot seem to breathe in Manila, to my own observations for a few times now, it depends where in Manila you live. In BGC one can certainly breathe, even not so bad polluted air. Look at the advantages living in a city like Manila what are of course disadvantages to others, same like talking politics in the US. The huge 25% increase cannot continue for years and years, for me Manila still the place to be in the Philippines. Great story John, good luck with your business and some day we meet in Makati, Green Belt or BGC - I am sure!
Very biased video on opinion articles that are wrong. Top luxury cities in the world are Niseko, JP; Seoul, SK; Miami, FL; NYC, NY; Singapore; Luxembourg; Liechtenstein; Vienna, AT
That wasn't so much what this was about. It was about the cost growth of the luxury market.