Is BGC, Philippines 🇵🇭 Too Expensive? 🤔
ฝัง
- เผยแพร่เมื่อ 18 มี.ค. 2023
- Just sharing some thoughts while strolling around town on a beautiful day in BGC, Philippines 😎
Also, here's the vlog referenced in this video:
Real Estate Investing Gone Horribly Wrong - How I Lost $200,000 🏠 🏠 😱
👉 • Real Estate Investing ...
As an experience real state investor in the Philippines and here in the US. I always advice my friends who wants to retire in the Philippines to just rent and not buy , unless they will not need the purchase money in the near future. Here in the US, you can typically sell your house within 2 months. Don't need to pay capital gain tax, if it less than 500k profit when married. Property appreciated steady. In the Philippines it is so hard to sell specially if you you need the money soon. You pay capital gain tax, even if you gain nothing or even losses value. Renting will give you flexibility to move around after lease end. But the most important thing is that you don't have to park the chunk of your money tied to a property.
My wife is from Taguig. Neither of us really wanted to live there, especially since we had 7 year old twins at the time. We eventually built a house with approx 350 sqm measured the American way (which means not including the carport, patio or balcony's). 2 story, 5 bedrooms, 5 1/2 bath not including the maids room. We bought 2 lots,, inside corner, total of 651 sqm. We're next to the outside perimeter fences, fields with caribao and coconut trees on the other side of the fence. This is about 1 to 1.5 hrs south in Lipa City. Our weather is basically the same as Tagaytay. We moved in almost 2 years ago. Very nice golf course subdivision, our elevation is approx 335 meters. House and Lot approx Php 20 million when it was built during 2020 - 2021. The twins are now 11, transportation svc back and forth to pvt school. My wife says driving here is like being in the US, go out the gates and you're in the Philippines. IMO if you have a family and you're going to stay in the PI renting for a short term is ok but it's better to buy/build over the long term.
Very informative. I am working in BGC and considering to buy a condo. All the things you have said are correct. ✅
Good job for spreading information and knowledge for both locals, tourists, and expats who want to stay and work there at BGC, Philippines. I want to go there, even stay there and even hoping to work there in the future. I am still planning for what I am going to do after graduating from college.
Love from the home country, Philippines. Keep up the great work!
All the best and good luck to you sir! BGC is a great place to visit or live in and we hope you'll get the chance soon. Cheers!
Renting out my unit in Bellagio with the sweeping views of the Manila Golf and Makati Skyiine for less than 40K pesos , it’s semi furnished , not the best interior, 62 sqm one bedroom. Because it’s one of the very first towers built it’s the quietest part of BGC and unrivalled views. I have steady tenants. My market are those who can bring their own furnitures and stuff so they can make it to their own taste. were able to bring their own furnitures and make it to their own taste. . So I value those steady low return inflows. My first tenant was Korean who stayed for 4 years , now it’s a young couple who I liked and gave them a 2 year fixed rent after testing them for a year. The property had been paid off years ago so this is exactly what you had talked about.
Great information and to the point! Some ppl talk about everything that has nothing to do with their video. I almost never like like or subscribe because of that.
I really appreciate the information sir. Impressive
Great info coming first hand. I myself am considering on moving to BCG. I am in Toronto and the high cost of living here is becoming ridiculous and has made me start looking elsewhere
I hear you! I've heard many insane stories from places like Toronto, Vancouver, etc. and even in the states, some places are priced sky high. Just reach out and let us know if you need anything real estate related here in BGC. All the best!
Real estate is 100% about location. There’s always a reason why properties cost what they cost. Supply & demand..
Absolutely! 💯
I wouldnt agree with that. I live on BGC and many of these developers like Alaya Land have an aggressive and extremely dishonest marketing agenda mostly geared towards foreigners. You cant walk down a mall without an Alaya Land agent handing you a new development brochure and telling you the properties double in value by the time they are built. 100% not true. They also flat out lie about the rental potential. I live in a Premier property and i would say 75% of my building is not occupied and this seems to be standard. This means everyone is trying to rent out their condo at the same time. This causes condo owners to undercut each other for lower prices. Even then.....no renters. There just isnt that many foreigners or locals thst want to dish out thousands of US dollars a month for rent. The high rent is a complete lie. I see condos thst have been for rent for years. Also....you go into the purchase with negative equity due to VAT tax ....transfer fee and sustained high property taxes. I eventually sold one of my condos on BGC and bought teo houses in the US that I rent for $3000 each with no VAT....no transfer Fee ....low HOA. Buying property in the US was a light years better investment than two Condos. I will sell the second one this year snd move out of BGC and get back to the real Philippines, which is what we came here for anyway. My Filipina wife always calls BGC the land of clout chasers.
@@garrydye2394yes thank you for that honest feedback. BGC is nice but not worth its price.
Research about Arca South located in Taguig also, if you want a place to live in! I think it’s better than BGC because there are no eyesore skyscrapers. More greens, more open space, less cars, less congested. Arca South is the future, check it out while it’s still affordable.
Well, said. Kudos to you man. 👌👌👌👌👌
Thanks for watching man!
Your channel is getting better and better. :) Great content and very informative and great viewpoints. Hopefully more people will learn from your channel and invest not only in BGC but Phil real estate in general.
Thanks so much for the support and encouragement sir! We'll do our best to keep improving and going strong. More Power! 💪💪💪💪
Glad this was recommended
@@bighand1530 Thank you!
@@BGCDreams No problem.
Nice video love it and thank u
We appreciate your effort and hard work. God bless everyone.
Thank you so much 😀
John 3:16
If you compare rental rates, foods, grocery, utilities in BGC to other major cities in US, Asia, Europe and Americas, BGC is more affordable.A real value for your hard earned dollars/ Euro. But if you are a local earning just P30k a month, BGC is not your place.
I would love to live in BGC, every since my fiancee and I first rented a condo for our vacations while staying at the Venice Condos. Great place to live in my opinion and I would have sunk my retirement money into a condo there. But the wife to be wants to live outside of Manila, so I will have to be content with a possible location just outside of Metro Manila for now. Still keeping my eye out for any deals around the $200k U.S. Dollar range though along with the house she wants to build.....
great advice, totally agree
Thanks so much, I'm glad we're on the same page!
When bgc is already built out, that’s when prices should be going up. Also, As long as there are still new buildings being built, buyers will always want units that are newer (or pre-selling-(cheaper))versus older units with the same price with lots more maintenance. Builders offer their own financing to facilitate selling units vs going into a bank as a foreigner trying to get a loan would probably be more difficult. Make sure as a foreigner, you have to consider where you’ll get your financing when the rent to own period is up and you have to get financing with a Philippine bank (which could be challenging) unless you have your own bank to finance your property overseas.
Good points you raised there. For now, yup, there's still new projects and developments, but I would say the pace for sure has slowed down since much of BGC is already built out. Longer-term, I'm hopeful that it was still be a "go to" destination for people to live and visit so the prospects should still be good for future price appreciation. For now, I'm just content to call this wonderful place my home. In regards to financing, yup, it's important to make sure everything is lined up before the lump sum is due. In my own case, I paid for the unit all in cash since it would have been more difficult/problematic for me to secure a loan from a local bank as a foreigner w/ no real work experience now outside of vlogging 😅 All the best! ❤
No US bank would ever, EVER offer a mortgage for a condo in BGC. I have not a clue if, as a foreigner, you could get a mortgage from a Philippines bank. Personally I own units in Arizona that I rent out. With this income, it will more than pay for anything I want to rent throughout BGC (or throughout all of Philippines). In my opinion, owning property in Philippines is foolish. Renting is cheap.
@@jonb3189Yawn. You know dick all about Philippine property market.
@@jonb3189 Congrats on your Arizona rentals. Not everyone is from the states and lots of buyers of BGC condos are Filipinos... from the Philippines... Or OFWs. A lot of them want to invest/own in their home country. If a foreigner wants to own via bank financing, yeah, that's probably a lot more tricky... Many pay in cash, though.
200k dollars for a 36m squares studio??? OMG that is way too expensive for even Americans. How can a Filipino afford that??? Who would pay 200k for a tiny studio?? Are these people realistic? You can get a 2 bedroom condo in Dubai for that money. I bet most of the clients they get are temporary renters.
It's a different market. Surprising? Yeah but that's reality. It's really surprising still 😊
Good info bro. BGC rocks!!🤟
Thanks my bro! Looking forward to our meet up soon 🤘
As usual very insightful yapping vlog. Your writing background is very imminent when you do yapping vlogs. You explain things with clear and organized thoughts. Another great yapping vlog!
Thanks so much for the comment kaibigan! 😊 You're too kind and I'm just trying my best to keep my head above water. I really much prefer writing to speaking, haha 🤣 Cheers and more Power good sir! I hope you're doing well out there in the states
I’d say, it is imminent indeed! 😊
What a precise and informative explanation. I'm glad u are seeing the window of opportunity and true potential of BGC. 👌🏿
Thanks for the comment Earl! Yup, BGC has realized a lot of its potential and there's probably still room for more. 😊
salamat sa manga information about bgc expenses for me its a better place for foreighners and its the safest place i know.👍😍✌🙏
I was expecting more detail on things such as 'amenity fees' and/or taxes. In other words, what is the average tax you pay monthly/annually? Are there any mandatory fees?(Trash, gym, etc)
Really good information there, Jay!
I was first offered a condo in BGC back in 2008, back then a 1BR unit of 40sqm is 3M pesos, but wife didn’t like it as BGC was still barren and empty, we ended up buying our first high end condo in Ortigas near Shangr-la Hotel and Megamall for more than 4M pesos.
Now, I am paying a 50sqm unit in BGC, The Seasons Residences for 19M pesos. That’s under 400K per sqm. plus parking lot of 3M pesos.. that’s almost the price of a condo unit in BGC 15yrs ago.
Ortigas and BGC are not the same whatsoever 😂 location, location, location
Of course.. but still good thing that I still have my unit in Ortigas being rented out long term. There are still some tenants who are looking for a little less expensive unit to rent in Ortigas even if they are working in BGC. With Kalayaan bridge and the future Subway, people who can’t afford to rent in BGC will be looking at Ortigas as 2nd option
@@Scud_604 Understood, I thought you were comparing it to BGC. I must have read your post too fast.
@@sfrealestatedealmaker6001 Ortigas is a great location for rental returns and capital gains. It’s under the radar to many investors that think BGC is it. Do some research and you’ll see why Ortigas is a hidden gem
@@Scud_604 Yup, agreed! Ortigas is an amazing place in its own right and it has more shopping malls nearby than probably anywhere else in NCR (if you need to find something, for sure they have it at Megamall!). The new bridge has been a total game changer and cut the commute time by like 75%. Once the future subway stations are built, it should be effortless to get to NAIA airport as well. If BGC is out of one's price range, you really can't do much better than to have something in the Ortigas area, it's so strategically located. Congrats on the unit here and also having a long-term tenant in place!
Great info ! My husband and I were looking into a 2 bedroom condo @ the Venetian mall. Was about $500k US dollars ! Would have been nice but decided to pass on it.
Thanks for sharing Marites! Wow, that's kind of pricey too. Hope you were able to find something else that you guys loved 🥰
I just can’t justify the expense for a secondary home.
@@Teriyaki418 yeah. That's why we passed on it.
Park McKinley West by Megaworld 110 sq/m, 2 bedroom contract price is 42M.... This is how expensive BGC is.
Wild❤ but this was a good topic 💪
Yeah
@@bighand1530 yaaaad
Thanks my guy! 💪
Hi Jay! Nice topic that most people want to know but are afraid to ask. Just my thoughts…take it easy 😊
Appreciate the comment and thanks for stopping by po!
@@BGCDreams Can’t wait till Kuya’s unit is done. Hahaha. Must be costing him a hefty bundle…🤣🤣🤣. Give him my best wishes & good luck 👍
BGC is nice. I got few units there. As well rockwell
BGC is expensive, more expensive than its counterparts in Thailand, Indonesia and Vietnam. Comparing these 4 countries which are all cheaper than the west, the Philippines is the most expensive for some reasons and not only in BGC. Many citizens of Indonesia, Vietnam and Thailand are beginning to study English. Few years from now, the English-edge of the Philippines over them wouldn't possibly be as much as an advantage. However, can they possibly match how BGC is? BGC's ultra modernity does not end to how it is at the moment. It would keep getting bigger and better.
Because foreigners can't own land in the Philippines, so most condos are marketed towards them as its all they can buy, hence the high prices
This was caused by the influx of Chinese immigrants/migrants legal or otherwise
BGC is mostly for foreigners and Filipinos with savings or income from working abroad. The average income in the Philippines is about 500,000 pesos a year. For the vast majority, it’s much less than that. BGC is modern, organized, clean and a safer place. But unless you work within and just outside of BGC, I personally won’t want to live there full time because there isn’t much to do or see. It is a small area with no room to expand. It’s basically a business area and not really geared towards a more enjoyable lifestyle by way of having a beautiful view and recreational facilities of the natural surroundings. But fortunately, for those who are looking for much cheaper properties, there are new high tech townships in various provinces in the country. I’ve seen beautiful new developments in both Iloilo and Roxas City along the river and with the view of the mountains in the background. They also have quick and easy access to the beaches. I’m sure many more provinces in the country have similar new townships in development. You presented really good points though with regards to those who are interested in procuring properties in BGC.
Great point and insights you shared there Gus! Yup, buying a condo is BGC is pretty challenging for most people and some of the other cities you mentioned are great alternatives. We fell in love with Iloilo way back in 2019 and can't wait to visit again soon. Prices are much more affordable and there's a lot to see and do. Also, as you mentioned, when it comes to spectacular beaches, it's tough to beat Visayas for that. All the best and more Power to you! 💪💪💪💪
Try to have other sources of income. You might want to learn stocks, etc.
@@thelowprofile9767 I’m doing very well, thanks. I’m talking from the point of view of the average Filipino.
@@okamsug that’s good to know. Anyway, for the ‘average’ Filipino, try to find additional source of income such as online selling, reselling (buy and sell), stock day trading, etc
@@thelowprofile9767 Yessir, been investing in stocks since college... haha
I love your videos hi from cali💚 buying unit in mckinley
id say bgc is a good location but too many competition if you want to rent out your unit but its nice to live there for retirement just chill and relax environment.Kababayans that made money outside of philippines and plans to have a place there is good. But if your lucky enogh that someone wants to rent your place its ok but dont count on that.
That's true, there's a lot of competition but luckily BGC has entered the radar of many international visitors so it seems demand is robust as well.
@@BGCDreams for now😉
It is easy to rent. I can afford to be choosy with whoever wants to rent my unit. I don’t have to worry. Especially with an Ayala developed building.
Many locals can afford bgc. Infact among the high end villages almost 100% are locals...not Filipinos who work abroad.
I mean it could be expensive if you’re always spending money on foods/services. But compared to how much these costs in US specially in SF Bay Area, living in BGC is still cheaper
I choose our condo because we want to live in the place, not because of rent. However, we will rent it on Airbnb when we’re traveling.
That's wonderful flexibility you have with the unit
Thanks for sharing
Thanks for watching! 🤗
Yes expensive but if u are practical so many places here in manila cheapest condo u can buy 2 bdroom in makati 8m and some of ur money u can invest
Yup! There's a ton of awesome deals out there outside of just BGC and much more affordable
the OG!
Man A Millon pesos that's expensive for living in BGC I think there are cheaper cities to live here in the Philippines I can't afford that 😬 I'd rather own a house 🏠
Oh yeah, some condos here are $1 million USD, haha. It's pretty wild... All good, house & lot is tough to beat!
@@BGCDreamsyah but ticket to entry for house and lot in Metro manila exclusive villages is 4m usd up + rebuilding of the old house.
Yeah-that’s what I thought. Plus also will miss a few Filipino city hallmarks like palengke or wet market, street food, turo-turo or Philippine food stalls. BGC is a Philippine city lacking its soul.
living in BGC is too expensive for the locals coz were using peso but for a foreigner its inexpensive bcoz you're using high rate Dollar, and of course to lessen the expense will depend on your budget and things you choose and your lifestyle, going to a resto in BGC everyday will charge up to your bill, if you want to save money don't use a condo go apartment nearby, cook your own food or go to small resto's its more cheaper
I think it’s expensive and I live and work in the US. Great to see the Philippines back on its feet again.
people keep on stressing its safe in BGC as if the other parts of the metro are not safe, people really need to experience other parts of the city to understand that and not confine yourself just in BGC.
Oh sorry, when I say safe, I'm really comparing BGC relative to other places in the world, like the states (where it's becoming increasingly unsafe). A lot of places in the Philippines are really safe, so that consideration probably has less impact locally. Overseas though, that's another story, haha. Cheers!
Tondo and Caloocan are not safe.
Yeah-I think BGC is overhyped. I get that it’s nice and modern and convenient. But how is it different from any other modern western cities though? Foreigners like it because it feels generic and safe. Go outside of it and lived outside of it to get a full cultural immersion.
👍👍
🤗
Jay , my co worker s daughtrr here inNYC convinced me to by a condo by aDMCI in 2003 so I bought a 2 bedroom condo and 2 parking space (350 K each ) in Taguig outside of BGC .At that time the only develppment in BGC was the market market and the Serendra condo ( the studio in serendra was 2 milyon pesos ) she told me about the future delelpopment of BGC but instead of convincing me to buy in BGC she told me to buy the 2 bedrooms same price as the studio in Serendra ....At that time I really didn't know about real estate investing ,its my biggest regret but I heard you mentioned the parking is 3 M in BGC wow thats super expensive .
Oh wow, that's quite a story! Thanks for sharing po 😊 Yeah, BGC was a very different place back then and without the benefit of hindsight (or crystal ball) it's impossible to know what the future holds. It's incredible how much Serendra has appreciated since the early 2000s but no worries, life is too short for regrets, so we just have to learn and carry on I don't know too much about the DMCI developments in Taguig but we are planning to visit Acacia Estates soon. I hope you did very well on those condo investments. All the best! ❤❤❤❤
One thing that everyone should not forget to consider is buying a parking space as well when getting a unit. I got a parking space for my one br unit at Trion and another parking space for my two other units in Avida. Even with that, it is still not enough especially when your kids want to have their own cars.
@@BGCDreamsuh oh-read some reviews first. I heard the traffic was horrendous. Either traffic or flooding. Anyway-do your research.
Hello-how do you like your DMCI condo. Can you please share so we can all be informed? Also expat here and trying to navigate the Philippine real estate realities.
Jay, which development is best to buy in BGC? There's a difference between BGC and Park Mc Kinley West township, right? We are from Cali also and we are looking to invest over there. Which one is better, in location, transportation, walkability and most important investment side? Thanks for your feedback.
Cheers to you guys in Cali! Yes, there's a difference between BGC and McKinley West townships. They are both technically in Fort Bonifacio but really, it's kind of a short drive (or long walk) to get from one place to another. McKinley West is actually closer to neighboring McKinley Hill. In regards to what's "best to buy in BGC" that's really tough to say since it will depend on your own preferences. A lot of people love Serendra from Ayala Land Premier or Alveo, since it's a gated community and great for families, kids. Some prefer Megaworld projects located in Uptown since that area is kind of newer and they're more pet friendly. And if you can afford it, the new Federal Land project, The Seasons, looks to follow more stringent (higher quality) building/construction standards. Lots of options out there, so it'll take a bit of research. Just let us know if we can help in any way and please feel free to send us an email at bgcdreams @ gmail if you want to discuss more :)
@@BGCDreams jay, thanks for the info, will keep that in mind.
Back in 2007, I bought a 58M condo at BGC for 5M including. Builder was giving a cash discount of 10 percent and it was around 4.5M. Most of the buyers back then were overseas Filipinos but I did notice the past years that more local Filipinos are buying units and living in the condo. It is true that renting is cheaper there since the majority of owners are overseas and there is a over supply of rental units.
I recently invested in a pre-selling condo development in Pasig/Quezon City. (Bridge Towne) Completion of the development should be in 2030. I’m debating on if I’ll flip it or put renters (short-term or long-term) in the unit once finished.
Sounds like a good problem to have! Bridgetowne is rising quickly and we can't wait to check it out and vlog it in the near future. Congrats and cheers to you! 🍻
@@BGCDreams 🙏
Which developer did you chose to go with?
why would someone buy an overpriced condo in manila? ffs, housing is not investment, people, it degrades in time
bonifacio global city taguig city is very expensive to living the price every month to pay the electric bill and water bill and internet bill in your every condominium tower to living
Ahhh u need to pay all those utilities living outside of bgc as well.
@@Mega-zi7ys Good point!
BGC is very pricey indeed but compared to other places in the NCR, it's really the rent/shelter that is the big difference. Cheers!
BGC is a anomaly in the Ph. It’s not for the Ph people but for rich internationals.
I’m not rich and definitely not an ‘internationalist’ whatever that means. But I was able to buy some units here in BGC. Note.. I used to be dishwasher, assistant plumber, newspaper boy back when I was younger etc. I was able to save a bit from my regular work which allowed me to buy these BGC units.
I’m a full-blooded Filipino.
@@thelowprofile9767 don't think dishwashers and assistant plumbers get paid millions in the Philippines (in php) unless u work abroad.
You definitely don't know locals buddy. In fact bgc is much more "affordable" than homes in many of the exclusive villages in the metro. And those are populated by "Ph people" not "internationals"😅
@@Mega-zi7ys i started doing such jobs when I was young, used my savings to put up sari-sari store which grew quite big…invested profits in the stock market etc, continued studies, finished college - worked in IT, did other businesses - fish dealer (Zambales - Baguio), operated transient house (Baguio), taxi operator (used second hand units), etc.
By the way, back then, I just bought each 1BR units for less than 3M.
@@thelowprofile9767 back then 3m isn't like 3m now.
BGC IS PRICEY BUT WORTH IT 100%
I love it here!
I'm thinking what cartoon characters is this?!😜
You are actually comparing BGC Philippines (where I’ve been staying since last year) to Singapore and Hong Kong? That is utterly laughable.
What’s even more laughable is suggesting that buying a condo for cash (with a .03% annual return) somehow magically transforms the purchase into a better investment. NOT! I can earn more than 5% - GUARANTEED - right now by depositing my cash in FDIC-insured bank CDs.
Finally, judging by all of the vacant condos and many units up for resale, it is currently a buyers’ market for condos in BGC and has been for several years.
I may well buy a condo here because I visit often - but only at the right price and for my personal use - NOT as an investment because BGC condos are of dubious investment value right now. Yes, I am a professional real-estate investor.
What I said is prices in BGC can look RELATIVELY AFFORDABLE relative to the high prices in Singapore or Hong Kong, I didn't say they were "apples vs. apples" comparison. Obviously, BGC is not Singapore or HK, for many reasons...
Buying a condo for cash can help someone cash flow it better since there's no debt service and again I never said it was the path to go to maximize yield/returns. Not everyone invests in BGC for maximum ROI. Some people just enjoy living in this area and want to own something here.
Ok, you're a professional real-estate investor, kudos to you... 👍
@@BGCDreams He declared it, so he must be one 😅
Fyi Singapore yes, but hk? No way..it is a dump now.. I'd take bgc over hk any day. The people, the trash...hk ain't what it was. If i want Chinese food, I get them in the US. Much better than hk.
👍✅🙀✅👍
BGC condos are not expensive to some people even for Filipinos. Gotta remember Filipinos living abroad ie 🇺🇸 and 🇨🇦 have invested into real estates. Sold them and retired in the 🇵🇭. Right now if you wanna buy a house in the city of Vancouver 🇨🇦, the average home price is $1.2 million Canadian dollars.
Good points Amalia! ❤
I’m US based. There are still properties in the US that’s more affordable than BGC and livable. Can’t justify the cost of BGC living as a secondary home.
There are properties in BGC more expensive than the 1.2 million CAD that you mentioned
I'm confused. Why would you want to purchase property in BGC, or anywhere in Philippines. Renting is cheap. Also, renting gives you a lot more flexibility. No HOA nonsense to deal with. And, if another unit comes up in a better location, you just leave. Or, what if you want to move to Cebu in a few months / years from now? When I was in BGC, I found nice condos renting from 25,000 pisos to 40,000 pisos. I do have properties in the US that I rent out. Much much safer. Also today, the 1% rule is very rare in the US.
Could you, as an American even get a mortgage from a Philippines bank for a unit there? Just curious, the idea of owning property there is to me completely crazy.
I think it depends on the individual
FYI, BPOs, Call Centers, Infrastructure projects and large foreign companies. Just think about it
Some people want to have a "home base" here in BGC. Like myself, for example. I know the ROI here isn't amazing but that's not why I purchased condos here. It's nice to have a place to call "home" without fear of a landlord kicking you whenever/however, at their whim. There's a lot of comfort and peace of mind in being able to outfit a place however you want. Yes, true the 1% rule was more applicable like 10 years ago, and these days, tough to locate in quality areas. I just remember it being a useful crude tool we used to use back in the day...
In regards to getting a loan out here, I'm not sure, since I never tried. I paid for both units in cash, no financing. Cheers!
I get the vibe that you don’t own a unit at BGC. Why put it down before you experience it firsthand? The appreciation is way better now than it is in the US generally.
@@pacosanandresbukid4424 These people rarely leave their home countries if at all and then assume everywhere else sucks. He's obviously oblivious to the hundreds of multinational companies that have back offices or call centers in the Philippines. These large foreign companies send executives to manage their operations in the Philippines and guess what, these highly paid executives with generous housing allowance need a place to live. This segment alone accounts for a huge chunk of the rental revenue in the major CBDs. Aside from the BPOs and Call Centers, the rush of infrastructure projects in the Philippines has resulted in large influx of foreign staff, most of them highly skilled engineers. These expats need a place to live for the duration of the project which usually takes eight to twelve years to complete. Nab one of these foreign staff for your rental condo and you have a consistent tenant paying top pesos for several years. These are just a few lucrative sources of rental income, I haven't even talked about the Gaming industry and the announcement of foreign ownership of Telecoms and transport companies which will bring in more foreign executives to the Philippines.
I would rather buy a 1,000 per sqm in neaby province of manila. Coz eventuly it will go higher. Coz manila will be more over crowded in the next 10 yrs. More puluted and stressfull. Work from home will be more disirable and working in a countryside will be more peacefull and relax as long as you have good internet. But its always depend om a ferson.
How far will $3000 / mo get you in BGC?
It depends on your lifestyle
IMO, the overinflated / bubble pricey condo in BGC will crash hard in the future. It just need one bad catalyst/ black swan.
That's possible since prices have risen so drastically in just a few short years. Compared to some other premier international cities though, the prices here still look relatively affordable and modest. Let's see where things go...
And I bet you say that every year until you get it right
@@robocop581 Say what?
@@BGCDreams Property Doom & Gloom forecasters are like broken clocks. They'll predict a market fall every year and get it wrong 17 straight years and when the market finally corrects they'll say "I told you so!"
Spoken like a true non-investor.
I prefer Newport city, casino airport, golf course
I prefer Newport, casino, airport, golf course and skyway
To each their own. Those are great places too. Cheers! 🍻
Rich Filipinos don’t live in condos.
Some do and many live in exclusive villages... What's your point? 😅
@@BGCDreams Rich Pinoys love their big homes, not cramped condo units. They’ll invest in it yes, but will reside in expansive homes
@@pacosanandresbukid4424truly depends...their kids do.
They're so rich they could afford to own and lived on both or either one. Either structure could function as a place of leisure and the other as a weekend getaway, and vice versa.
Because you are chewa and most chekwa is stingy kuripot
That’s not nice… 😅 I’m from 🇺🇸 btw…
👍👍
@@BGCDreams 👋